Growing… - Community Foundation of Herkimer

Financial Statements
Statements audited by D’Arcangelo & Co. LLP. A copy of the last annual report and
information returns (form 990, 990T when applicable, and CHAR 500) can be obtained
by contacting The Foundation offi ce or by written request to the Offi ce of the Attorney
General, Department of Law, Charities Bureau, 120 Broadway, New York, NY 10271
STATEMENTS OF FINANCIAL POSITION (AUDITED)
December 31, 2010 and 2009
STATEMENTS OF ACTIVITIES (AUDITED)
For the Years Ended December 31, 2010 and 2009
42
2010 2009
Assets
Cash $988,392 $1,007,363
Investment 91,993,806 81,671,272
Interest and Dividends Receivable 5,245 12,846
Loans Receivable 31,308 61,441
Promises to Give 46,640 444,237
Charitable Remainder Trust 129,083 130,682
Property, Net 28,873 37,502
Other Current Assets 152,240 5,669
Total Assets $93,375,587 $83,371,012
Liabilities
Grants Payable $1,195,074 $1,194,783
Accounts Payable and
Accrued Expenses 105,512 82,052
Other Liabilities 8,353 7,789
Agency Funds 3,976,697 3,037,860
Total Liabilities 5,285,636 4,322,484
Net Assets 88,089,951 79,048,528
Total Liabilities and Net Assets $93,375,587 $83,371,012
2010 2009
Revenue, Gains, and Support
Gifts and Bequests $1,271,294 $8,804,396
Investment Income (Net) 11,695,971 15,052,011
Other Income 105,424
Total Revenue, Gains, and Support $13,072,689 $23,856,407
Expenses
Program Services
Grants Approved 2,999,818 1,630,290
Program Sponsored Initiatives 46,373 53,520
Supporting Services
Management and General 985,075 929,118
Total Expenses 4,031,266 2,612,928
Increase (Decrease) in Net Assets 9,041,423 21,243,479
Net Assets, Beginning of Year 79,048,528 57,805,049
Net Assets, End of Year $88,089,951 $79,048,528
“We provide exemplary stewardship of the
resources we manage and leverage.”
DON CARBONE, FINANCE COMMITTEE CHAIR