2012 [2.8 MB] - Billy Graham Evangelistic Association

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notes to Consolidated Financial StatementsAs of December 31, 20126. Fair Value Measurements of Assets and LiabilitiesThe Association follows the provisions of generally accepted accounting principles for financial assets and liabilities measured at fair value.This statement requires fair value measurements be classified and disclosed in one of the following three categories (“Fair Value Hierarchy”):Level 1: Financial instruments with unadjusted, quoted prices listed on active market exchanges.Level 2: Financial instruments valued using inputs that include quoted prices for similar assets and liabilities in active markets, and inputsthat are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.Level 3: Financial instruments that are not actively traded on a market exchange and require using significant unobservable inputs indetermining fair value.The following table summarizes the valuation of the Association’s financial assets and liabilities measured at fair value on a recurring basisas of December 31, 2012, based on the level of input utilized to measure fair value:Measurement at fair value on a recurring basis:Fair Value Measurements at 12/31/12 Using:Description Level 1 Level 2 Level 3Equities:U.S. Equity $ 8,792,364 $ 9,329,129 $ –Developed International Equity 35,202,476 – –Emerging Markets – 12,581,217 –Mutual Funds 21,646,283 – –Other 511,345 – –Fixed income and credit:U.S. Government 35,999,131 6,036,078 –Corporate – 18,617,669Govt. Mortgage Backed Securities – 19,232,231Bond Funds 7,745,992 – –Other 4,489,353 – –Other:Cash & Cash Equivalents 14,311,414 496,916 –Real Asset Funds 6,107,845 33,353,441 –Total investments—recurring basis $ 134,806,203 $ 99,646,681 $ –Deferred giving liabilities $ 2,395,398 $ 9,295,857 $ 53,954,45942 BILLY GRAHAM EVANGELISTIC ASSOCIATION & AFFILIATED ORGANIZATIONS
Gift annuity and irrevocable trust liabilities are considered valued at Level 3 because some of the factors used in valuation,most significantly the discount rate, are not easily observable in similar instruments in an active market.Deferred GivingLiabilitiesBeginning balance liabilities $ 51,640,224Increases in liabilities due to issuance of new agreements 3,546,035Payments to beneficiaries (5,550,473)Actuarial adjustments 4,318,673Ending balance of liabilities $ 53,954,459Measurement at fair value on a non-recurring basis:Fair Value Measurements at 12/31/2012 Using:Description Level 1 Level 2 Level 3 Total Gains(Losses)Investments:Equity—Other $ – $ 25,135 $ – $ –Other—Real estate – 9,343,724 – –Other – – 609,669 –Total investments—non-recurring basis $ – $ 9,368,859 $ 609,669 $ –Deferred giving liabilities $ – $ 5,831,720 $ – $ –2012 MINISTRY REPORT43
Page 6 and 7: “I pray that thesharing of yourfa
Page 8 and 9: Will’s team then traveled 300 mil
Page 10 and 11: YOUTH MINISTRIESHelping build Chris
Page 12 and 13: Rock the Lakes evangelistic outreac
Page 14 and 15: MY HOPEproclaiming the hope of Jesu
Page 16 and 17: RAPID RESPONSE TEAMShowing the love
Page 18 and 19: THE BILLY GRAHAM LIBRARYState of th
Page 20 and 21: THE BILLY GRAHAM TRAINING CENTER AT
Page 22 and 23: INTERNET & MEDIAMoving to reach eve
Page 24 and 25: eader wrote, “The Holy Spirit led
Page 26 and 27: Ransom also produced 15 newdisciple
Page 28 and 29: Guidance team personally answered m
Page 30 and 31: BOARD OF DIRECTORS2012Board Members
Page 32 and 33: Report of Independent AuditorThe Bo
Page 34 and 35: Consolidated Statement of Activitie
Page 36 and 37: notes to Consolidated Financial Sta
Page 52 and 53: What We BelieveThe Billy Graham Eva
Page 54: Always Good News.1 Billy Graham Par

2012 [2.8 MB] - Billy Graham Evangelistic Association

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