Kids for the Kingdom 2018 Independent Financial Audit

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NOTE 1 – REPORTING ENTITY (Continued) KIDS FOR THE KINGDOM, INC. NOTES TO THE FINANCIAL STATEMENTS For the Year Ended December 31, 2018 INDIA The organization provided and delivered services to 8,331 children, widows, and families including Bible Clubs and hot dinner/lunch feeding programs in sixty-eight locations throughout Chennai, Manapakkam, Nandambakkam, Coimbatore, Bhopal, Erode, Salem, and Maduravoil; job-training programs, income-generation projects, tuition centers, Christmas outreach programs, and outreach to poor and needy. Total cash grant funding for projects and support in India during 2018 was $17,350. KENYA The organization provided and delivered services to 63,318 children, widows, and families including operation and maintenance of community water wells, projects, and systems throughout the Nakuru Region; job-training and self-sufficiency programs; feeding programs, Bible Clubs, health clinic, immunization programs, mercy projects, and children’s homes in Nakuru and Nairobi. Total cash grant funding for projects and support in Kenya during 2018 was $43,827. MALAWI The organization provided and delivered services to 14,528 children, widows, and families including education, feeding, skill-training, and mercy projects in Lilongwe. Total cash grant funding for projects and support in Malawi during 2018 was $10,566. NICARAGUA The organization provided and delivered services to 930 children, widows, and families including orphanages, job-training programs, ethics classes, operation of schools, feeding programs, micro-enterprise loan project, business training, mercy projects, and parenting classes in Managua, Leon, Los Braziles, La Concha, El Corozal, and Nueva Guinea. Total cash grant funding for projects and support in Nicaragua during 2018 was $7,154. PAKISTAN The organization provided and delivered services to 207 children, widows, and families including orphan care, earthquake relief, distribution of relief supplies, and persecution relief. For security reasons the exact location of projects inside Pakistan is not published. Total cash grant funding for projects and support in Pakistan during 2018 was $7,159. RUSSIA The organization provided and delivered services to 890 children, widows, and families including counseling, medical services, food supplies; weekly visits to children’s psychiatric hospital in Maikop to provide counseling services, medical intervention, clothing to children; provide food and counseling services to babies and toddlers at children’s orphanage in Maikop; programming and foods/medicines for children at orphanages in Sevastopol and Krasnodar. Total cash grant funding for projects and support in Russia during 2018 was $22,100. SOUTH SUDAN The organization provided and delivered services to 1,925 children, widows, and families including orphan care, 2 deep water wells, emergency medical care, and distribution of flood relief supplies. Total cash grant funding for projects and support in South Sudan during 2018 was $4,725. ZAMBIA The organization delivered services to 4,385 children, widows, and families affected by HIV/AIDS in Lusaka. Total cash support for programs in Zambia during 2018 was $26,279. ZIMBABWE The organization provided and delivered services to 1,043 children, widows, and families including feeding programs, mercy projects, and job-training. Total cash grant funding for projects and support in Zimbabwe during 2018 was $535. 8
KIDS FOR THE KINGDOM, INC. NOTES TO THE FINANCIAL STATEMENTS For the Year Ended December 31, 2018 NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES A. Basis of Presentation The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America (GAAP). The financial statement presentation follows the recommendations of the Financial Accounting Standards Board (FASB) in the Accounting Standards Codification (ASC), No. 958, Financial Statements of Not-for-Profit Organizations. The Organization reports information regarding its financial position and activities according to two classes of net assets: Net Assets Without Donor Restrictions – Net assets available for use in general operations that are not subject to or are no longer subject to donor-imposed restrictions. Net Assets With Donor Restrictions – Net assets whose use is limited by donor-imposed time and/or purpose restrictions. K4K WoSome donor-imposed restrictions are temporary in nature, such as those that will be met by the passage of time or other events specified by the donor. Other donorimposed restrictions are perpetual in nature, where the donor stipulates that resources be maintained in perpetuity. Donor-imposed restrictions are released when a restriction expires, that is, when the stipulated time has elapsed, when the stipulated purpose for which the resource was restricted has been fulfilled, or both. Revenues are reported as increases in net assets without donor restriction unless use of the related assets is limited by donor-imposed restrictions. Expenses are reported as decreases in net assets without donor restrictions. Gains and losses on investments and other assets or liabilities are reported as increases or decreases in net assets without donor restrictions unless their use is restricted by explicit donor stipulation or by law. Expirations of donor restrictions on the net assets (i.e., the donor-stipulated purpose has been fulfilled and/or the stipulated time period has elapsed) are reported as reclassifications between the applicable classes of net assets. The Organization has adopted a policy to classify donor restricted contributions as without donor restrictions to the extent that donor restrictions were met in the year the contribution was received. B. Cash and Cash Equivalents The Organization considers all unrestricted highly liquid investments with an initial maturity of three months or less to be cash equivalents. C. Investments Investments are reported at their fair values in the statement of financial position using readily determinable market values. Net investment return/(loss) is reported in the statement of activities and consists of interest and dividend income, realized and unrealized capital gains and losses, less external and direct internal investment expenses. 9
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Page 3 and 4: INTRODUCTORY SECTION
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Page 7 and 8: FINANCIAL SECTION
Page 9 and 10: INDEPENDENT AUDITOR'S REPORT To the
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Page 21 and 22: NOTE 4 - IN-KIND DONATIONS KIDS FOR

Kids for the Kingdom 2018 Independent Financial Audit

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