Heide Museum of Modern Art 2010 Annual Report
Heide Museum of Modern Art 2010 Annual Report
Heide Museum of Modern Art 2010 Annual Report
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13. Financial Statements<br />
STATEMENT OF<br />
COMPREHENSIVE INCOME (cont)<br />
For the year ended 31 December <strong>2010</strong><br />
Philanthropic Activities<br />
<strong>Heide</strong> <strong>Museum</strong> <strong>of</strong> <strong>Modern</strong> <strong>Art</strong><br />
<strong>2010</strong> <strong>Annual</strong> <strong>Report</strong><br />
Note<br />
<strong>2010</strong><br />
$<br />
2009<br />
$<br />
Donations and sponsorships (including gifts in kind) 48,555 23,835<br />
Donated works <strong>of</strong> art (at market value) 2 505,909 945,500<br />
554,464 969,335<br />
Development expenses – (11,438)<br />
Net surplus from philanthropic activities 554,464 957,897<br />
Capital Activities<br />
Donations 3,000 393,090<br />
Government grants – 1,435,609<br />
Interest revenue from other persons – 51,224<br />
3,000 1,879,923<br />
Capital redevelopment expenses (18,182) (30,276)<br />
Net surplus from capital activities (15,182) 1,849,647<br />
Net surplus for the year from all activities 81,759 1,990,179<br />
Other comprehensive income<br />
Net (loss)/gain on revaluation <strong>of</strong> financial assets (72,717) 212,109<br />
Net gain on revaluation <strong>of</strong> Works <strong>of</strong> <strong>Art</strong> – –<br />
9,042 2,202,288<br />
53
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