2011 Catalyst Annual Report

NOTE 6 – NET ASSETSTemporarily Restricted Net AssetsTemporarily restricted net assets as of August 31, 2011 and2010 are restricted as follows:Major Gifts Campaign – LongitudinalResearchWomen of Color ManagerSubordinate Study2011 2010$44,597 $-39,160 72,562Creating Inclusive Workplaces 30,496 48,104Talent Management in Global27,212 66,639Information TechnologyMen as Diversity Champions 20,424 28,550Unwritten Rules 15,635 26,342Senior Executive Roundtable 9,500 -Women in Health Leadership 10,611 86,675Learning Lab Impact Study 9,303 -Occupancy 6,699 15,214E.L. Wiegand Foundation 5,948 40,437CEO Summit 2011 3,784 -Sponsorship of Senior Women - 66,806Benchmarking India - 43,660Dinner – Canada Honours 2010- 23,928(Video)Dinner – Canada Honours 2010 - 11,703Dinner – Canada Honours 2011 72,274 -Dinner – Canada Honours 2011 25,293 -(Video)Netherlands (CE Symposium in Hague2011)23,192Time restricted 182,500 155,885$526,628 $686,505Permanently Restricted Net AssetsDuring 1992, Catalyst established the “Felice N. SchwartzPermanently Restricted Net Assets Reserve Fund for theAdvancement of Women in Business and the Professions.”The principal amount of the fund may be borrowed on ashort-term basis by Catalyst to complete research projects,which are of strategic importance but lack complete funding,and to meet temporary cash flow needs. The income earnedfrom invested principal will be used to grow the fund in linewith inflation and to complete the financing of researchprojects for which the majority of funds have been raised.Because borrowings from the principal and interest of thisfund must be repaid, these amounts have been classified aspermanently restricted net assets. There were no borrowingsfrom the fund for the years ended August 31, 2011 and 2010.Changes in permanently restricted endowment net assets foryears ended August 31, 2011 and 2010, are as follows:2011 2010Investment activity:Interest and dividends $92,322 $80,481Unrealized gain on275,031 434,847investmentsRealized loss on(32,221) (208,536)investmentsTotal investment activity 335,132 306,792Endowment net assets, 2,973,021 2,666,229beginning of yearEndowment net assets,end of year$3,308,153 $2,973,021Endowment net assets of $3,308,153 and $2,973,021 areincluded with investments on the consolidated statementsof financial position as of August 31, 2011 and 2010,respectively.From time to time, the fair value of assets associated withindividual donor-restricted endowment funds may fall belowthe level that the donor requires Catalyst to retain as a fundof perpetual duration. In accordance with Catalyst’s policy,deficiencies of this nature are reported in either restricted orunrestricted net assets. However, there were no deficienciesfor the years ended August 31, 2011 and 2010.NOTE 7 – DONATED SERVICES AND ASSETSCatalyst received the following donated services and assetsfor the years ended August 31, 2011 and 2010:2011 2010Legal $255,575 $682,463Investment 43,167 40,396Other266,906 40,623servicesCapitalized39,438 15,558computerequipment$605,086 $779,04049 | Catalyst Annual Report 2011