Kids for the Kingdom 2018 Independent Financial Audit
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
KIDS FOR THE KINGDOM, INC.<br />
STATEMENT OF FINANCIAL POSITION<br />
DECEMBER 31, <strong>2018</strong><br />
WITH COMPARATIVE AMOUNTS AT DECEMBER 31, 2017<br />
ASSETS <strong>2018</strong> 2017<br />
Current Assets:<br />
Cash $21,434 $23,254<br />
Investments 44,917<br />
Bequest receivable (Note 3) 15,000,000<br />
Investment income receivable (Note 3) 2,564,239<br />
Total current assets 17,585,673 68,171<br />
Computer equipment, less accumulated depreciation<br />
of $8,719 and $8,484, respectively (Note 2H) 470 705<br />
Total Assets $17,586,143 $68,876<br />
LIABILITIES<br />
Current Liabilities:<br />
Accounts payable $10,662 $7,257<br />
Accrued payroll 3,340<br />
Total Liabilities 14,002 7,257<br />
NET ASSETS (Note 2A)<br />
With donor restrictions (Note 5):<br />
Restricted in perpetuity 15,000,000<br />
Restricted <strong>for</strong> time purposes 2,564,239<br />
Total net assets with donor restrictions 17,564,239<br />
Without donor restrictions 7,902 61,619<br />
Total Net Assets 17,572,141 61,619<br />
Total Liabilities and Net Assets $17,586,143 $68,876<br />
See accompanying notes to financial statements<br />
3
Change language