2006 annual report - Urban Gateways

2006 statement of financial positionBALANCE SHEETCurrent AssetsCash and cash equivalents 61,708Grants and Pledges receivable 179,751Accounts receivable – less allowance of doubtful accounts of $5,321 327,560Prepaid Expenses -0-TOTAL CURRENT ASSETS 569,019Non-current AssetsFixed Assets (furniture and equipment), net of accumulated depreciation of $572,949 14,134Non-current pledges receivable 30,000TOTAL NON-CURRENT ASSETS 44,134Other AssetsDeposits 36,212TOTAL ASSETS 649,365Current LiabilitiesAccounts payable & accrued expenses 63,220Deferred revenue 28,410Current maturities 266,320Total Current Liabilities 357,950Non-current LiabilitiesNon-current maturities 137,470Net AssetsUnrestricted (13,024)Temporarily Restricted 166,969TOTAL NET ASSETS 153,945Total Liabilities and Net Assets 649,365OPERATING STATEMENTSupport And RevenuesContributionsIndividuals & Special Events 349,404Corporations 153,269Foundations 190,161Total Contributions 692,834Total Grants from Government Agencies 68,287Program RevenuesPackage Programs 644,849Touring & Matinee performances 255,599Community School Program 353,781Other program revenue 102,595Total Program Revenues 1,356,824Investment Income 5,245Other Income 3,435TOTAL SUPPORT AND REVENUES 2,126,625ExpensesProgram expenses 1,781,630Fundraising expenses 409,308Administrative expenses 238,507TOTAL EXPENSES 2,429,445Current Year Contributions & Grants released from Temporarily Restricted Net Assets 393,080Net Surplus / (Deficit) 90,260Changes in Net AssetsContributions for future years added to Temporarily Restricted Net Assets 101,969Contributions from prior years released from Temporarily Restricted Net Assets (393,080)TOTAL CHANGES IN NET ASSETS (200,851)NET ASSETS – BEGINNING OF YEAR 354,796NET ASSETS – END OF YEAR 153,9452021