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2005 Independent Financial Audit
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Summary Statement of Financial Position
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2005 |
2004 |
| Assets |
6,507,419 |
4,659,908 |
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| Liabilities |
670,359 |
766,096 |
| Net Assets |
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| Unrestricted |
3,782,712 |
3,499,889 |
| Temporarily Restricted |
1,745,807 |
185,456 |
| Permanently Restricted |
308,541 |
208,467 |
| Total Net Assets |
5,837,060 |
3,893,812 |
| Total Liabilities & Net Assets |
6,507,419 |
4,659,908 |
Statement of Activities
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2005 |
% of
2005
Income |
2004 |
| Contributions* |
4,514,129 |
87.6% |
2,593,088 |
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| REVENUE |
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| Conference Centers |
556,842 |
10.8% |
625,697 |
| Regional Ministries |
18,437 |
0.4% |
25,905 |
| Other |
66,166 |
1.3% |
39,437 |
| Total Income |
5,155,574 |
100.0% |
3,284,127 |
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| EXPENSES |
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| Conference Centers |
1,225,937 |
23.8% |
1,206,744 |
| Academies and ROTC |
416,772 |
8.1% |
411,305 |
| Regional Ministries |
388,529 |
7.5% |
347,082 |
| Publications |
247,533 |
4.8% |
257,403 |
| Education Centers |
182,320 |
3.5% |
172,377 |
| Director of Field Outreach |
72,368 |
1.4% |
81,586 |
| Executive Ministries |
12,471 |
0.2% |
10,963 |
| Administration |
478,868 |
9.3% |
405,777 |
| Fund Raising |
187,528 |
3.6% |
144,178 |
| Total Expenses |
3,212,326 |
62.3% |
3,037,415 |
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| Changes in net assets |
1,943,248 |
37.7% |
246,712 |
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| Net assets, beg. of year |
3,893,812 |
|
3,647,100 |
| Net assets, end of year |
5,837,060 |
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3,893,812 |
*Includes contributions to all components of the ministry.
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