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Assets<br />

Current Assets $ 809,255<br />

Cash 388,820<br />

Accounts receivable 22,507<br />

Pledges receivable 378,012<br />

Prepaid expenses 19,916<br />

Property & Equipment $ 620,932<br />

Houses 763,406<br />

Office equipment 18,230<br />

Less: depreciation (160,704)<br />

O<strong>the</strong>r Assets $ 24,130<br />

Security deposits 24,130<br />

Total = $1,454,317<br />

Personal Support<br />

Raising<br />

$270,597<br />

Most Rev. John C. Nienstedt<br />

Honorary CHair<br />

Very Rev. Peter Laird<br />

President<br />

Rev. Andrew Cozzens<br />

ViCe- President<br />

Rev. Mr. Jim Meyer<br />

Program Revenue,<br />

$697,663<br />

Capital Campaign<br />

$58,800<br />

Budget percentage breakdown by branch: 47% Minnesota, 19%<br />

Ohio, 10% New Jersey, 10% Kansas, 14% National Office &<br />

Nascent Branches. Funds raised in <strong>the</strong> branches go <strong>to</strong>wards <strong>the</strong><br />

branches in which <strong>the</strong>y were raised.<br />

“Personal Support Raising”: funds raised by missionaries from<br />

family and friends.<br />

“O<strong>the</strong>r Contributions”: primarily in-kind facilities contributions.<br />

treasurer & FinanCe CHair<br />

Contributed Services<br />

$250,882<br />

SPO’s annual audit is conducted by Le<strong>the</strong>rt, Skwira, Schultz & Co.<br />

and is available on our website. (www.spoweb.org)<br />

Income $2,281,345 Expenses $2,153,380<br />

Mrs. Jessica Nelson<br />

seCretary<br />

Annual Campaign<br />

$466,804<br />

Mr. Steven Kennedy<br />

Board aFFairs CHair<br />

Mr. Gordy DeMarais<br />

O<strong>the</strong>r Contributions<br />

$111,505<br />

Founder & exeCutiVe direC<strong>to</strong>r<br />

Benefit Events<br />

$425,094<br />

Mr. Mark Berchem<br />

Mr. Denny Farrell<br />

Mrs. Laura Hemler<br />

Mr. Al Kraling<br />

<strong>Outreach</strong> Programs<br />

$765,326<br />

School <strong>of</strong> <strong>the</strong><br />

New Evangelization<br />

$196,065<br />

Net Income $127,965<br />

Liabilities and Net Assets<br />

Current Liabilities $ 100,366<br />

Current maturities <strong>of</strong> L-T debt 8,550<br />

Accounts payable 25,093<br />

Accrued employee benefits 16,063<br />

Security deposits 31,500<br />

Unearned revenue 19,160<br />

Long-Term Debt $ 341,450<br />

Mortgage payable 350,000<br />

Less: Current maturities (8,550)<br />

Net Assets (unrestricted) $ 1,012,501<br />

Total = $1,454,317<br />

balance sheet (June 30, 2011)<br />

Formation Program<br />

$152,080<br />

Development & Office<br />

Costs<br />

$231,627<br />

Mrs. Sheila Letscher<br />

Mr. Jim McQuillan<br />

Mrs. Sarah Mealey<br />

Mr. Dan Moran<br />

Support Staff<br />

$355,069<br />

Household Program<br />

$453,212<br />

2010 ‐11 income & expenses<br />

board <strong>of</strong> direc<strong>to</strong>rs

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