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View the 2010 Annual Report - American Society for Gastrointestinal ...

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Statement of Financial Position<strong>American</strong> <strong>Society</strong> <strong>for</strong> <strong>Gastrointestinal</strong> Endoscopy (ASGE) FoundationStatement of Financial Position as of December 31, <strong>2010</strong> and 200912/31/10 12/31/09TOTAL ASSETS $ 13,138,732 $ 11,448,020TOTAL LIABILITIES 470,171 397,715NET ASSETS:Unrestricted Fund 6,867,957 5,715,283Temporarily Restricted 878,043 431,236Permanently Restricted 4,922,561 4,903,786TOTAL NET ASSETS $ 12,668,561 $ 11,050,305Statement of Activities For <strong>the</strong> Twelve Months Ending December 31, <strong>2010</strong>TemporaryRestrictionPermanentRestrictionUnrestrictedREVENUES:O<strong>the</strong>r Income $ 2,310 $ — $ —Circle of Light <strong>Society</strong> DonorSteven A. Edmundowicz, MD, FASGEWashington University School ofMedicine, St. Louis, Mo.“As an educatorin gastrointestinalendoscopy, Iknow that bycontributing to <strong>the</strong>ASGE Foundation,my donations willsupport teachingand educationin my field. These funds will improve<strong>the</strong> practice of endoscopy worldwideand help to bring new techniques andtechnologies that will benefit us all. “Special Events 46,875 — —Contributions 640,474 197,986 18,775Grants — 1,058,004 —Affiliate Transfer (234,712) — —Net Assets Released From Restriction 1,342,533 (1,342,533) —TOTAL REVENUES 1,797,480 (86,543) 18,775TOTAL EXPENSES 1,677,510 — —REVENUES OVER EXPENSES 119,970 (86,543) 18,775TOTAL INVESTING ACTIVITY 1,032,704 533,350 —INCREASE IN NET ASSETS 1,152,674 446,807 18,775Net Assets, Beginning of Year 5,715,283 431,236 4,903,786Net Assets End of Period $ 6,867,957 $ 878,043 $ 4,922,561ASGE and ASGE Foundation audit report and financial statements are available upon request.ASGE Foundation Net Assets as of December 31, <strong>2010</strong>15,000,000Circle of Light <strong>Society</strong> DonorJames T. Frakes, MD, MS, FASGERock<strong>for</strong>d Gastroenterology Associates,Ltd., Rock<strong>for</strong>d, Ill.“Fur<strong>the</strong>ring GIendoscopic researchis a hallmark of <strong>the</strong>ASGE Foundation.Donations to <strong>the</strong>Foundation fundthis rigorous inquiry,<strong>the</strong>reby advancing<strong>the</strong> science <strong>for</strong>future patients and future colleagues.I feel that we, as physicians, havea responsibility to give back to <strong>the</strong>patients and <strong>the</strong> profession that haveprovided us with such a rewardinglife’s work. Contributions to <strong>the</strong> ASGEFoundation are a way to do just that.”12,000,0009,000,0006,000,0003,000,000020052006200720082009<strong>2010</strong>7

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