ready willing - Darden Restaurants

2009/2010 Financial StatementsStatements of Financial PositionMay 31, 2010 and 2009 2010 2009AssetsCash and cash equivalents $ 7,226,334 4,144,402Contributions receivable –– 6,000,000Investments, at fair value(cost – $1,488,666 in 2010 and $3,827,167 in 2009) 1,179,621 3,045,875Total Assets $ 8,405,955 13,190,277Liabilities and Net AssetsDue to sponsor $ 2,900 11,900Grants, payable, net 2,484,747 3,599,229Total liabilities 2,487,647 3,611,129Unrestricted net assets 5,918,308 9,579,148Total liabilities and net assets $ 8,405,955 13,190,277See accompanying notes to financial statements.Statements of ActivitiesMay 31, 2010 and 2009 2010 2009Support and revenuesContributions $ –– 7,200,000Interest income 13,712 83,128Investment gain (loss), net 377,481 (678,240)Total support and revenues, net 391,193 6,604,888ExpensesProgram grants:Arts and culture 642,519 1,015,392Diversity 150,000 ––Education 1,691,206 2,252,815Good neighbor 765,308 ––Preservation causes 70,000 272,000Recipe for success 40,000 ––Social and health 95,000 1,042,250Sustainability 375,000 ––Other 220,000 305,000Total program grants 4,049,033 4,887,457Administrative expenses –– ––Federal excise taxes 3,000 11,450Total expenses 4,052,033 4,898,907Changes in net assets (3,660,840) 1,705,981Unrestricted net assets, beginning of year 9,579,148 7,873,167Unrestricted net assets, end of year $ 5,918,308 9,579,148See accompanying notes to financial statements.F O U N D A T I O N F I N A N C I A L S / 1 9