Informe Anual, 2005 - Museo de Arte de Ponce

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Report of Independent Auditors To the Board of Directors of Museo de Arte de Ponce In our opinion, the accompanying statement of financial position of Museo de Arte de Ponce (operated by The Luis A. Ferré Foundation, Inc.) and the related statements of activities and changes in net assets and of cash flows present fairly, in all material respects, the financial position of Museo de Arte de Ponce at December 31, 2005 and 2004, and the results of its operations and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America. These financial statements are the responsibility of the Foundation’s management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. May 4, 2006 CERTIFIED PUBLIC ACCOUNTANTS (OF PUERTO RICO) License No. 216 Expires Dec. 1, 2007 Stamp 2126296 of the P.R. Society of Certified Public Accountants has been affixed to the file copy of this report 85
Museo de Arte de Ponce Statement of Financial Position December 31, 2005 and 2004 2005 2004 Assets Money market accounts, including $1,406,403 (2004 - $1,366,998) restricted $ 1,534,644 $ 1,490,437 Cash 196,375 380,067 Accounts receivable 261,695 119,041 Accounts receivable from related parties 207,040 252,037 Property and equipment, net 373,601 375,214 Other assets 354,039 239,284 Liabilities and Net Assets $ 2,927,394 $ 2,856,080 Liabilities Note payable $ 401,000 $ - Accounts payable and accrued liabilities 366,745 197,038 Accounts payable to related parties 148,837 418,679 Deferred revenues 21,894 43,910 938,476 659,627 Net assets Unrestricted 513,106 868,263 Temporarily restricted 127,900 - Permanently restricted 1,347,912 1,328,190 1,988,918 2,196,453 $ 2,927,394 $ 2,856,080 86
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Misión La misión del Museo de Art
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Nueva Luz Es para nosotros motivo d
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Como parte de la preparación que l
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images from the museum’s gallerie
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Curaduría Curatorial
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José Antonio Torres Martinó: Voz
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con una Serie de Grandes Pianistas,
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cofundador de talleres de grabado e
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Also on view were the tools artists
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Season with the collaboration of th
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que vivió Cervantes organized by t
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Educación En el 2005, el Departame
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95 estudiantes de práctica y cuatr
Page 34 and 35: the importance of the arts as an in
Page 36 and 37: • We began a collaboration with E
Page 38: Desarrollo Development
Page 41 and 42: y disfrutaron de música en un ambi
Page 44: Laboratorio de Conservación Anton
Page 47 and 48: privada y Mater atómica de la cole
Page 49 and 50: en las salas del segundo piso, lo q
Page 51 and 52: Nuestra Santísima Señora de Monte
Page 53 and 54: Frame of the art work Retrato de La
Page 56 and 57: Registraduría El 2005 fue un año
Page 58 and 59: Otros proyectos Durante este año,
Page 60: In June, we began to gather the wor
Page 64 and 65: Operaciones Dar apoyo y colaborar c
Page 66 and 67: Resultados operacionales Al igual q
Page 68 and 69: Operations Support and collaboratio
Page 70: over last year’s revenue. This ye
Page 73 and 74: María Luisa Ferré Rangel Presiden
Page 75 and 76: Floribeth Anciani Supervisora Admin
Page 78: Patrocinadores Sponsors
Page 81 and 82: Socios Mecenas/ Mecenas Members Arq
Page 84: Reporte del Museo de Arte de Ponce
Page 89 and 90: Museo de Arte de Ponce Statement of
Page 91 and 92: and liabilities at the date of the
Page 93: 4. Property and Equipment Property
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Informe Anual, 2005 - Museo de Arte de Ponce

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