BIG BROTHERS BIG SISTERS OF KENTUCKIANA, INC. FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION. Years Ended June 30, 2016 and 2015

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1 BIG BROTHERS BIG SISTERS OF KETUKIAA, I. FIAIAL STATEMETS AD SUPPLEMETARY IFORMATIO Years Ended June 3, 216 and 215

2 Table of ontts Page Indepdt Auditors' Report 1 and 2 Financial Statemts Statemts of financial position Statemts of activities Statemts of functional expses Statemts of cash flows otes to financial statemts Supplemtary Information Schedules of financial position by location Schedules of activities by location Schedules of revue and expses - Bowl for Kids Sake 19 2 and 21 22

3 DM1 fjejiiii] Li VL \Y. (D F Di Indepdt Auditors' Report To the Board of Directors Big Brothers Big Sisters of Ktuckiana, Inc. Louisville, Ktucky We have audited the accompanying financial statemts of Big Brothers Big Sisters ofktuckiana, Inc. (a not-for-profit organization), which comprise the statemts of financial position as of June 3, 216 and 215, and the related statemts of activities, functional expses, and cash flows for the years th ded, and the related notes to the financial statemts. Managemt's Responsibility for the Financial Statemts Managemt is responsible for the preparation and fair prestation of these financial statemts in accordance with accounting principles gerally accepted in the United States of America; this includes the design, implemtation, and maintance of internal control relevant to the preparation and fair prestation of financial statemts that are free from material misstatemt, whether due to fraud or error. Auditors' Responsibility Our responsibility is to express an opinion on these financial statemts based on our audits. We conducted our audits in accordance with auditing standards gerally accepted in the United States of America. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statemts are free from material misstatemt. An audit involves performing procedures to obtain audit evidce about the amounts and disclosures in the financial statemts. The procedures selected depd on the auditors' judgmt, including the assessmt of the risks of material misstatemt of the financial statemts, whether due to fraud or error. In making those risk assessmts, the auditor considers internal control relevant to the tity's preparation and fair prestation of the financial statemts in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectivess of the tity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriatess of accounting policies used and the reasonabless of significant accounting estimates made by managemt, as well as evaluating the overall prestation of the financial statemts. 93 Shelbyville Road Suite 11 Louisville, Ktucky 4222 Telephone Fax

4 We believe that the audit evidce we have obtained is sufficit and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statemts referred to above prest fairly, in all material respects, the financial position of Big Brothers Big Sisters of Ktuckiana, Inc. as of June 3, 216 and 215, and the changes in its net assets and its cash flows for the years th ded in accordance with accounting principles gerally accepted in the United States of America, Report on Supplemtary Information Our audit was conducted for the purpose of forming an opinion on the financial statemts as a whole. The schedules of financial position by location, schedules of activities by location, and schedules of revue and expse - Bowl for Kids Sake on pages 19 to 22 are prested for purposes of additional analysis and are not a required part of the financial statemts. Such information is the responsibility of managemt and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statemts. The information has be subjected to the auditing procedures applied in the audit of the financial statemts and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statemts or to the financial statemts themselves, and other additional procedures in accordance with auditing standards gerally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the financial statemts as a whole. / 7 w, Louisville, Ktucky October 18, 216 2

5 BIG BROTHERS BIG SISTERS OF KETUKIAA, I. STATEMETS OF FIAIAL POSITIO June 3, 216 and 215 Assets ash Investmts Metro United Way receivable Grants and other receivables Pledges receivable, less allowance for doubtful pledges Prepaid expses Property and equipmt, net Total assets $ 374,427 48, , , ,167 15,474 1,162,999 $ 2,596,193 $ 179, , ,896 75,328 93,764 11,439 1,216,32 $ 2,387,76 Liabifities and et Assets Liabifities Accounts payable Accrued expses Deferred revue apital lease obligations Total liabifities $ 39,61 81,597 11,34 3,95 135,93 $ 31,614 14,825 14,448 7, ,562 et Assets Unrestricted Temporarily restricted Total net assets Total liabilities and net assets 1,696,527 1,759,19 763, ,495 2,46,29 2,228,514 $ 2,596,193 $ 2,387,76 See otes to Financial Statemts.

6 BIG BROTHERS BIG SISTERS OF KETUKIAA, I. STATEMETS OF ATIVITIES Years Ended June 3, 216 and Temporarily Unrestricted Restricted Total Revues and Other Support Metro United Way Grants ontributions Special evts, net of costs of direct befits to donors Investmt income Gifts in kind Miscellaneous income Realized and unrealized (losses) gains, net Rtal loss, net $ - $ 375,17 $ 375,17 36, , , ,849 12, 259, , ,795 16,971 16,971 29,729 29,729 (4,627) (4,627) 99,974 1,234,61 2,144,575 et assets released from restrictions 94,333 (94,333) Total revues and other support Expses Program Managemt and geral Fund-raising Total expses (Decrease) Increase in net assets et assets at beginning of year et assets at d of year 1,85,37 294,268 2,144,575 1,443,819-1,443, , , , ,254 1,912,799-1,912,799 (62,492) 294, ,776 1,759,19 469,495 2,228,514 $1,696,527 $ 763,763 $ 2,46,29 See otes to Financial Statemts.

7 215 Temporarily Unrestricted Restricted Total $ - $ 377,183 $ 377,183 23,66 459,59 482, ,273 3, 256, ,616-6,53-63,5-1,11-1,148 (8,94) - 984, , ,616 6,53 63,5 1,11 1,148 (8,94) 1,85, ,742 (987,742) 1,972,171 (121,5) 1,85,671 1,34,395-1,34, , ,544 39,454-39,454 1,822,393-1,822, ,778 (121,5) 28,278 1,69,241 59,995 2,2,236 $1,759,19 $ 469,495 $ 2,228,514

8 BIG BROTHERS BIG SISTERS OF KETUKIAA, I. STATEMETS OF FUTIOAL EXPESES Years Ended June 3, 216 and Fund-raising Managemt Bowl for Other Program & Geral Kids Sake Fund-raising Total Salaries Employee befits Payroll taxes Workers compsation Occupancy Insurance Postage and shipping Professional fees Printing ational dues Equipmt rtal and maintance Telephone Staff training Office supplies Travel Advertising onferces and meetings Memberships and dues Appreciation Miscellaneous Recruitmt Interest Special evts Provision for uncollectible pledges Gifls in kind Depreciation and amortization $ 95,986 89,171 65,885 8,973 18,893 31,156 8,311 9,879 14,883 12,66 27,592 22, ,951 28,292 1,852 5,894 2, ,129 27, ,176 56,866 $ 119,167 $ 1,397 9,86 1,124 1, , ,567 1, , , ,29 15, , , ,97 6, ,79 $ 156,55 9,138 14,166 1,622 1, , , , , ,968 $ 1,241,861 18,76 9,832 11,719 21,969 32,797 9,63 31,867 17,157 13,49 32,84 24, ,515 29,297 5,93 6,616 6,265 7,227 32,136 27, ,259 11,484 45,438 66,124 Total expses $ 1,443,819 $ 184,726 $ 52,17 $ 232,147 $ 1,912,799 See otes to Financial Statemts.

9 215 Fund-raising Managemt Bowl for Other Program & Geral Kids Sake Fund-raising Total $ 866,86 $ 119,979 $ 16,154 $ 141,973 $ 1,144,966 85,643 7,837-7,796 11,276 6,616 9,865 1,257 12,223 83,961 4, ,828 14,454 1,345-1,8 16,87 27, ,64 3, ,251 21,691 11, ,37 14, , ,75 12, ,999 25,395 2,362-1,772 29,529 29,561 2, , , ,859 18, , ,425 2, ,268 3, ,7 2,162 2, , , ,64 3,629-6, ,992 21, ,58 1, , ,75 19,75-5, ,97 61, , ,947 53,12 4,931-3,698 61,641 $ 1,34,395 $ 172,544 $ 116,54 $ 192,914 $ 1,822,393

10 BIG BROTHERS BIG SISTERS OF KETUKIAA, I. STATEMETS OF ASH FLOWS Years Ended June 3, 216 and ash Flows from Operating Activities ash received from contributions and grants ash received from special evts ash received from miscellaneous activities Investmt income received Interest paid ash paid to suppliers and employees et cash provided by operating activities ash Flows from Investing Activities Purchases of property and equipmt Purchase of investmts Proceeds from sale of investmts et cash provided by (used in) investing activities $ 1,29,76 734,94 17,227 (775) (1,869,865) 172,251 (13,38) (19,43) 229,97 $ 1,135,218 76,613 1,165 6,597 (1,254) (1,714,525) 133,814 (15,63) (151,696) 116,959 (5,367) ash Flows from Financing Activities Principal paymts under capital lease obligations et cash used in fmancing activities et increase in cash ash at beginning of year ash at d of year (3,77) (3,319) (3,77) (3,319) 194,965 8, ,462 99,334 $ 374,427 $ 179,462 See otes to Financial Statemts.

11 Reconcifiation of et Increase in Total et Assets to et ash Provided by Operating Activities et increase in total net assets $ 231,776 $ 28,278 Adjustmts to reconcile net increase in total net assets to net cash provided by operating activities: Depreciation and amortization hange in allowance for uncollectible pledges hange in discount on pledges receivable Donated stock included in contributions Loss on disposal of assets Realized and unrealized losses (gains), net hanges in assets and liabilities: (Increase) decrease in: Metro United Way receivable Grants and other receivables Pledges receivable Prepaid expses Increase (decrease) in: Accounts payable Accrued expses Deferred revue Total adjustmts 66,124 2,96 1,364 (16,92) 559 4,627 (53) (43,58) (5,863) (4,35) 7,447 (23,228) (3,18) (59,525) 67,22 (3,455) (1,557) (34,997) 55 (1,148) (14,67) 75,339 (7,521) 885 8,977 1,717 5,628 15,536 et cash provided by operating activities $ 172,251 $ 133,814

12 BIG BROTHERS BIG SISTERS OF KETUKLAA, I. OTES TO FIAIAL STATEMETS ote 1. ature of Operations and Summary of Significant Accounting Policies ature of operations: Big Brothers Big Sisters of Ktuckiana, Inc. (Organization) is a not-for-profit organization formed to provide childr facing adversity with strong and during, professionally supported one-to-one relationships that change their lives for the better, forever through successful mtoring relationships for all childr who need and want them, contributing to brighter futures, better schools, and stronger communities for all. The Organization serves the Louisville, Ktuckymetropolitan area and surrounding counties, including three Southern Indiana counties. Summary of significant accounting policies: This summary of significant accounting policies of the Organization is prested to assist in understanding the Organization's financial statemts. The financial statemts and notes are represtations of the Organization's managemt who is responsible for the integrity and objectivity of the financial statemts. These accounting policies conform to accounting principles gerally accepted in the United States ofatnerica and have be consisttly applied in the preparation of the financial statemts. ash and cash equivalts: For purposes of the statemts of cash flows, the Organization considers only unrestricted cash and investmts with original maturities of three months or less to be cash and cash equivalts. Receivables: The valuation of receivables is based upon a detailed analysis of past due accounts and the history of uncollectible accounts. Estimated uncollectible pledges and other receivables increase the allowance for doubtful accounts and wh the receivables are writt off, the allowance for doubtful accounts is decreased. The Organization periodically reviews doubtful pledges and other receivables to determine if write-offs are necessary. 7

13 OTES TO FIAIAL STATEMETS Investmts: Investmts are recorded at fair market value. Donated investmts are recorded at their fair market value as of the date received. See ote 3 for disclosure of fair value measuremts. Property and equipmt: Property and equipmt are recorded at cost, if purchased, or fair market value as of the date of donation, if donated. Depreciation is calculated using the straightline method over the estimated useful lives of the assets. The Organization's policy is to capitalize asset purchases exceeding $5. Amortization expse from capital leases is included with depreciation expse. Depreciation expse for the years ded June 3, 216 and 215, was $66,124 and $67,22, respectively. ontributions and gifts in kind: ontributions other than cash are recorded at fair market value as of the date of donation. ontributed services must meet the specific expertise requiremts and would normally have be purchased before they are recorded. ontributions of long-lived assets with explicit restrictions that specify how the assets are to be used and contributions of cash or other assets that must be used to acquire longlived assets are reported as restricted support. Abst explicit donor stipulations about how long those long-lived assets must be maintained, the Organization reports expirations of donor restrictions wh the donated or acquired long-lived assets are placed in service. V/h a donor's temporary restriction expires, those net assets are reclassified to unrestricted net assets and reported in the statemt of activities as net assets released from restrictions. Unpaid volunteers have made significant contributions of their time and services in assisting the Organization in its daily operations. The value of this contributed time is not reflected in these financial statemts since it is not susceptible to objective measuremt or valuation.

14 OTES TO FIAIAL STATEMETS Gifts in kind included in revues and expses consisted of the following as of June 3, 216 and 215: Advertising Printing Professional fees Rt Miscellaneous Direct befit to donors $31,775 1,227 2,15 1, 9,286 45,438 3,985 $128, ,6 14,66 1,49 145,947 3,82 $49,423 $l4929 Functional allocation of expses: The costs of providing the various programs and other activities have be summarized on a functional basis in the statemt of functional expses. Accordingly, certain costs have be allocated among the programs and supporting services befited. Income taxes: The Organization is exempt from federal, state, and local income taxes as a notfor-profit organization as described under Internal Revue ode Section 51(c)(3). However, income from certain activities not directly related to the Organization's tax-exempt purpose is subject to taxation as unrelated business income. There was no unrelated business income rported for the years ded June 3, 216 and 215. As of June 3, 216 and 215, the Organization did not have any accrued interest or palties related to income tax liabilities, and no interest or palties have be charged to operations for the years th ded. Advertising expses: The Organization expses advertising costs as incurred.

15 OTES TO FIAIAL STATEMETS Estimates: The preparation of financial statemts in accordance with accounting principles gerally accepted in the United States of America requires managemt to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingt assets and liabilities at the date of the financial statemts and the reported amounts of revues and expses during the reporting period. Actual results could differ from those estimates. Subsequt evts: Subsequt evts have be evaluated through October 18, 216, which is the date the financial statemts were available to be issued. ote 2. Investmts Investmts at June 3, 216 and 215 consisted of the following: Unrealized Market Appreciation ost Value (Depreciation) Money Market Stocks - Health care Stocks - Transportation orporate bonds ertificates of deposit - marketable ertificates of deposit - other $141,229 3,721 1,464 67,27 127,68 367,59 43,486 $141,229 26,662 1,616 67,37 128, ,828 43,486 $ - (4,59) ,216 (2,681) Total investmts $41,995 S

16 OTES TO FIAIAL STATEMETS ost Market Value Unrealized Appreciation Money Market Stocks - Health care orporate bonds ertificates of deposit - marketable ertificates of deposit - other Total investmts $ 51,651 15,265 87,36 194,93 348,45 85,894 $ $ 51,651 $ - 15,265 87, ,581 1, ,991 1,946 85,894 - $435,885 $1,946 The rate of return earned on investmts was approximately 2.% for the years ded June 3, 216 and 215, respectively. The Organization has investmts in corporate bonds, stocks, and certificates of deposit that are held by investmt managers gaged by the Organization and are therefore subject to conctrations of credit risk. Investmts are made by the investmt managers and monitored by the Board of Directors through the Finance ommittee. Though the market value of the investmts is subject to fluctuations on a year-to-year basis, managemt believes the investmt policy is prudt for the long-term welfare of the Organization. ote 3. Fair Value Measuremts The framework for measuring fair value provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for idtical assets or liabilities (level 1) and the lowest priority to unobservable inputs (level 3). The three levels of the fair value hierarchy are described as follows: Level 1 - Inputs to the valuation methodology are unadjusted quoted prices for idtical assets or liabilities in active markets that the Organization has the ability to access. 11

17 OTES TO FIAIAL STATEMETS Level 2 - Level 3 - Inputs to the valuation methodology include: quoted prices for similar assets or liabilities in active or inactive markets; inputs other than quoted prices that are observable for the asset or liability; inputs that are derived principally from or corroborated by observable market data by correlation or other means. If the asset or liability has a specified (contractual) term, the level 2 input must be observable for substantially the full term of the asset or liability. Inputs to the valuation methodology are unobservable and significant to the fair value measuremt. The asset or liability's fair value measuremt level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measuremt. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs. All assets have be valued using a market approach. There have be no changes in methodologies used as of June 3, 216 and 215. Following is a description of the valuation methodologies used for assets measured at fair value. Money market fund, stocks and corporate bonds - valued at the closing price reported on the active market in which the individual securities are traded. ertificates of deposit - valued at the closing price reported on the active market in which the individual securities are traded or valued based on yields currtly available on comparable securities traded in active markets. The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Organization believes its valuation method is appropriate and consistt with other market participants, the use of differt methodologies or assumptions to determine the fair value of certain financial instrumts could result in a differt fair value measuremt at the reporting date. 12

18 OTES TO FIAIAL STATEMETS The following table sets forth by level within the fair value hierarchy, the Organization's assets measured at fair value as of June 3, 216 and 215: Measured on a recurring basis: Money market Stocks orporate bonds ertificates of deposit 216 Level 1 Level 2 $141,229 $ - 28,278-67,37-15,17 23,267 $341,561 $23,267 Measured on a recurring basis: Money market Stocks orporate bonds ertificates of deposit 215 Level 1 Level 2 $ 51,651 $ - 15,265-87, ,239 5,342 $299,649 ote 4. Pledges Receivable The Organization has pledges receivable related to special evts and other contributions. Pledges receivable due in more than one year are reflected at the prest value of estimated ftiture cash flows using a discount rate of 3.25%. 13

19 OTES TO FIAIAL STATEMETS Total pledges receivable as of June 3, 216 and 215 were as follows: Special evts pledges Other pledges Less allowance for uncollectible pledges Less unamortized discount et pledges receivable 216 $ 65,286 9, ,431 (12,9) (1,364) $141, $ 74,364 3,25 14,569 (1,85) $93,764 Amount due in: Lessthanoneyear $14,31 $ 98,569 One to five years 15,4 6, $155,431 S14,569 Of the total gross pledges receivable as of June 3, 216, certain organizations and individuals account for approximately 45% of the total balance as follows: Donor #1 $35, Donor #2 19,192 Donor #3 15, ote 5. Property and Equipmt Property and equipmt consisted of the following at June 3, 216 and 215: Land Building and improvemts Furniture and fixtures Equipmt Less accumulated depreciation and amortization 216 $ 131,6 1,275,516 74, ,367 1,658,6 (495,61) $1l $ 131,6 1,268,767 72, ,996 1,649,798 (433,496) $1,261,32 IEI

20 OTES TO FIAIAL STATEMETS ote 6. apital Lease Obligations The Organization leases equipmt under capital leases. The economic substance of these leases is that the Organization is financing the acquisition of these assets through the leases and, accordingly, the leases are recorded in the Organization's assets and liabilities. The following is a summary of leased assets included in property and equipmt: Equipmt $16,689 $ 16,689 Accumulated amortization (13,629) (1,292) $ 36 S Future minimum lease paymts under the capital leases are as follows: Year ding June 3, 217 $ 4,16 Less amount represting interest 255 et minimum lease paymts $ 3,95 ote 7. Line of redit The Organization has a maximum line of credit with Republic Bank & Trust ompany of $3, which bears interest at a variable rate equal to the prime rate (3.25% as of June 3, 216). Interest only is due monthly. There was no outstanding balance due on the line of credit as of June 3, 216. The line of credit matures on October 2, 217. The collateral pledged on the line of credit is a second mortgage on all real and personal propertywith a net book value of approximately $1.2 million as of June 3,

21 OTES TO FIAIAL STATEMETS ote 8. Rtal Loss The Organization held a portion of its building as available for rt with no tant for the year ded June 3, 215. For the year ded June 3, 216, the Organization did not actively seek a rter for the space and is considering using the space for internal purposes. Expses associated with the portion of the building that was held for rt for the year ded June 3, 215 are shown as net rtal loss on the statemt of activities and was as follows: Depreciation expse $(5,579) Other rtal expses (3,325) ote 9. Retiremt Plan The Organization has a 41(k) retiremt plan (Plan) which covers employees who have attained the age of 21 and work a minimum of 2 hours per week. After one year of service, the Organization matches employee contributions to the Plan up to a maximum of 3% of the employee's compsation. The Plan allows for an employer discretionary profit sharing contribution. Total contributions made by the Organization to the Plan were $23,366 and $17,591 for the years ded June 3, 216 and 215, respectively. ote 1. onctration of redit Risk The Organization maintains cash and cash equivalts in several banks in Ktucky. Accounts at each bank are guaranteed by the Federal Deposit Insurance orporation (FDI) up to $25,. At June 3, 216, the Organization's uninsured cash balances totaled approximately $88,. 16

22 OTES TO FIAIAL STATEMETS ote 11. Lease ommitmts Beginning June 216, the Organization leases administrative space in Hardin ounty under a noncancelable operating lease with an initial term of at least one year with paymts beginning July 216. At June 3, 216, the minimum annual lease commitmts under the agreemt having an initial term of more than one year are as follows: Years ding June 3, 217 $ 9, ,662 $17,7 ote 12. hanges in Temporarily Restricted et Assets hanges in temporarily restricted net assets for the years ded June 3, 216 and 215 were as follows: Purpose Balance ontributions and Grants Released from Restrictions Balance Volunteer programs apital improvemts Marketing expses $453,185 1,31 6, $1,234,61 $(934,881) (2,452) (3,) $752,95 7,858 3, $469 A95 $ $(94,333) $763,76 Purpose Balance ontributions and Grants Released from Restrictions Balance Volunteer programs apital improvemts Marketing expses $571,685 1,31 9, $866,242 $(984,742) (3,) $453,185 1,31 6. $59,995 $ $( ) $469,495 17

23 OTES TO FIAIAL STATEMETS ote 13. Special Evts Special evts consisted of the following for the years ded June 3, 216 and 215: 216 ost of Direct Gross Befits et Revue to Donors Expses Revue Bowl for Kids Sake Links for Littles Other evts $381, , ,66 $(17,28) (26,57) (18,661) 8(51,811) (6,993) (23,266) $312, , ,139 $ (61.926) $69,725 Gross Revue 215 ost of Direct Befits to Donors Expses et Revue Bowl for Kids Sake Links for Littles Other evts $426, , ,8 $(16,179) $(116,547) (28,687) (8,56) (12.88) (11,145) $293, , (57.674) 8(136,252) ote 14. Reclassificatiôns ertain amounts on the financial statemts for 215 were reclassified to correspond with captions used for 216 with no effect on previously reported total net assets or total changes in total net assets.

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