AMERICAN LEPROSY MISSIONS, INC. (ALM INTERNATIONAL)

Transcription

1 FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS DECEMBER 31, 2011 TAIT, WELLER & BAKER LLP

2 TABLE OF CONTENTS REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS 1 Page FINANCIAL STATEMENTS Statement of Financial Position, December 31, 2011 with summarized information for Statement of Activities and Changes in Net Assets, Year ended December 31, 2011 with summarized information for Statement of Functional Expenses, Year ended December 31, 2011 with summarized information for Statements of Cash Flows, Years ended December 31, 2011 and Notes to Financial Statements 7 SUPPLEMENTAL INFORMATION Schedule of Program Service Grants and Other Disbursements Year ended December 31, 2011 with summarized information for

3 REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS Board of Directors American Leprosy Missions, Inc. (ALM International) Greenville, South Carolina We have audited the accompanying statement of financial position of American Leprosy Missions, Inc. (ALM International) as of December 31, 2011, and the related statements of activities and changes in net assets, of functional expenses and of cash flows for the year then ended. These financial statements are the responsibility of the organization s management. Our responsibility is to express an opinion on these financial statements based on our audit. The prior year summarized comparative information has been derived from American Leprosy Missions, Inc. (ALM International) 2010 financial statements and, in our report dated April 27, 2011, we expressed an unqualified opinion on those financial statements. We conducted our audit 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. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of American Leprosy Missions, Inc. (ALM International) as of December 31, 2011, and the changes in its net assets and its cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America. Our audit was conducted for the purpose of forming an opinion on the basic financial statements referred to in the first paragraph taken as a whole. The accompanying supplemental information for program service grants and other disbursements, Page 14, is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated, in all material respects, in relation to the basic financial statements taken as a whole. Philadelphia, Pennsylvania April 18,

4 STATEMENT OF FINANCIAL POSITION December 31, 2011 with summarized information for 2010 Temporarily Permanently Total Unrestricted Restricted Restricted CURRENT ASSETS Cash and cash equivalents $ 2,701,942 $ 39,748 $ - $ 2,741,690 $ 2,040,957 Accrued interest receivable 8,559 6,547-15,106 15,527 Accounts receivable and advances 19, ,431 19,131 Pledges receivable ,211 Prepaid expenses and deposits 61, ,830 46,120 Due from other net assets 135, ,828 - Total current assets 2,927, ,123-2,838,057 2,126,946 OTHER ASSETS Real estate held for investment ,000 Land, building and equipment (Note 2) 644, ,907 1,090,121 Long-term investments (Note 3) 4,119,539 1,276, ,811 6,237,842 6,293,493 Beneficial interest in perpetual trusts (Note 5) - - 4,442,482 4,442,482 4,693,153 Other 48, ,037 48,038 Total other assets 4,812,483 1,276,492 5,284,293 11,373,268 12,224,805 Total assets $ 7,740,135 $ 1,433,615 $ 5,284,293 $ 14,211,325 $ 14,351,751 CURRENT LIABILITIES Accounts payable $ 339,777 $ - $ - $ 339,777 $ 184,862 Current portion of capital lease (Note 4) 2, ,148 - Due to other net assets ,718 Total current liabilities 341, , , ,862 OTHER LIABILITIES Capital lease (Note 4) 10, ,928 - Refundable advance - 71,903-71,903 69,089 Uni-trust and annuity obligations - 472, , ,421 Total other liabilities 10, , , ,510 NET ASSETS Unrestricted Operating 1,147, ,147,333 2,430,399 Reserve 6,239, ,239,949 4,950,690 Temporarily restricted (Note 5) Accumulated endowment income - 246, , ,812 Life Income Agreements - 642, , ,232 Permanently restricted (Note 5) - - 5,037,575 5,037,575 5,288,246 Total net assets 7,387, ,070 5,037,575 13,313,927 13,546,379 Total liabilities and net assets $ 7,740,135 $ 1,433,615 $ 5,284,293 $ 14,211,325 $ 14,351,751 Interfund balances eliminated in combination See notes to financial statements. 2

5 STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS Year ended December 31, 2011 with summarized information for 2010 Temporarily Permanently Total Unrestricted Restricted Restricted Public support and revenue Public support Contributions $ 5,550,577 $ 4,652 $ - $ 5,555,229 $ 5,202,730 Income from outside trusts 97, , ,530 Legacies and bequests 1,457, ,457,433 1,085,579 Total public support 7,105,709 4,652-7,110,361 6,415,839 Revenue Investment income, net of expenses 44,298 40,407-84,705 83,003 Realized gain on investment transactions 153,964 74, , ,160 Other 12, ,155 23,534 Total revenue 210, , , ,697 Net assets released from restrictions (Note 5) Total support and revenue 7,316, ,027-7,436,153 6,629,536 Expenses Program services Leprosy Treatment 1,228, ,228, ,163 Other Diseases 469, , ,219 Training of Professionals 444, , ,511 Socio-Economic Services 904, , ,595 Prevention of Disabilities 685, , ,658 Research 1,065, ,065, ,976 Total program services 4,799, ,799,173 4,056,122 Supporting services Fund-raising 1,990, ,990,973 1,806,956 Management and general 495, , ,390 Total supporting services 2,486, ,486,669 2,316,346 Total expenses 7,285, ,285,842 6,372,468 Other changes in net assets Actuarial loss on annuity and unitrust obligations - (16,386) - (16,386) (27,931) Net unrealized gains (loss) on long-term investments (186,740) (91,615) - (278,355) 363,613 Realized gain on sale of property 162, ,649 - Change in beneficial interest in perpetual trusts - - (250,671) (250,671) 363,589 Total other changes (24,091) (108,001) (250,671) (382,763) 699,271 Changes in net assets 6,193 12,026 (250,671) (232,452) 956,339 Net assets Beginning of year 7,381, ,044 5,288,246 13,546,379 12,590,040 End of year $ 7,387,282 $ 889,070 $ 5,037,575 $ 13,313,927 $ 13,546,379 See notes to financial statements. 3

6 STATEMENT OF FUNCTIONAL EXPENSES Year ended December 31, 2011 with summarized information for 2010 Program Services Socio- Leprosy Other Training of Economic Treatment Diseases Professionals Services Salaries $ 87,404 $ 33,418 $ 31,633 $ 64,364 Payroll taxes 6,712 2,566 2,429 4,942 Employee health, retirement, and other benefits 22,675 8,670 8,207 16,698 Total salaries and related expenses 116,791 44,654 42,269 86,004 Occupancy 10,712 4,095 3,877 7,888 Office supplies and program materials Professional fees and contract service payments 2, ,669 Travel, conferences, conventions and meetings 33,718 12,892 12,203 24,830 Printing, postage and publications 37,590 14,372 13,605 27,681 Awards, grants and other program disbursements 982, , , ,753 Media 3,853 1,473 1,394 2,837 New donor costs Depreciation 31,831 12,170 11,520 23,440 Miscellaneous 8,340 3,188 3,018 6,140 $ 1,228,924 $ 469,861 $ 444,773 $ 904,973

7 Prevention Supporting Services Of Total Fund Management Total Total Expenses Disabilities Research 2011 Raising And General $ 48,747 $ 75,763 $ 341,329 $ 165,495 $ 201,568 $ 367,063 $ 708,392 $ 727,897 3,743 5,818 26,210 12,277 14,343 26,620 52,830 48,771 12,646 19,655 88,551 48,628 42,944 91, , ,388 65, , , , , , , ,056 5,974 9,285 41,831 26,424 29,738 56,162 97,993 90, ,876 5,306 2,627 7,933 11,809 5,877 1,264 1,964 8, ,745 33, , , ,592 18,805 29, ,676 38,662 13,002 51, , ,588 20,965 32, , ,545 2, ,449 1,044, , , ,933 3,838, ,838,140 3,168,275 2,149 3,339 15, , , , , ,043-86,043 86, ,921 17,753 27, ,305 64,413 81, , , ,996 4,650 7,228 32,564 85,826 74, , , ,123 $ 685,394 $ 1,065,248 $ 4,799,173 $ 1,990,973 $ 495,696 $ 2,486,669 $ 7,285,842 $ 6,372,468 See notes to financial statements. 4

8 STATEMENTS OF CASH FLOWS Years ended December 31, 2011 and 2010 INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS Cash flows from operating activities Cash received from contributors $ 7,123,075 $ 6,435,231 Interest and dividends received 94,867 91,270 Grants paid (3,673,140) (3,168,275) Cash paid for other expenditures (3,204,075) (3,079,799) Net cash provided by operating activities 340, ,427 Cash flows from investing activities Purchase of building and equipment (73,763) (75,588) Proceeds on the sale of property 511,904 - Purchase of investments (2,559,629) (3,269,161) Proceeds from sale of investments 2,613,252 3,056,435 Net change in cash and cash equivalents long term (62,108) 460,839 Net cash provided by investing activities 429, ,525 Cash flows from financing activities Payments made to annuitants (72,685) (91,109) Payments made under trust agreements (20,041) (25,640) Issuance of capital lease 13,245 - Payments on capital lease (169) - Proceeds from contributions restricted for Investment subject to annuity agreements 10,000 21,000 Net cash used for financing activities (69,650) (95,749) Net increase in cash and cash equivalents 700, ,203 Cash and cash equivalents Beginning of year 2,040,957 1,685,754 End of year $ 2,741,690 $ 2,040,957 See notes to financial statements. 5

9 STATEMENTS OF CASH FLOWS (Continued) Years ended December 31, 2011 and 2010 RECONCILIATION OF CHANGE IN NET ASSETS TO NET CASH PROVIDED BY (USED FOR) OPERATING ACTIVITIES Change in net assets $ (232,452) $ 956,339 Adjustments to reconcile change in net assets to net cash provided by (used for) operating activities Depreciation 269, ,996 Gain loss on sale of investments (228,932) (107,160) Gain on sale of property (162,649) - Actuarial loss on annuity and unitrust obligations 16,386 27,931 Change in unrealized (appreciation) depreciation 278,355 (363,613) Contributions restricted for long-term investment (10,000) (21,000) Change in beneficial interest in perpetual trusts 250,671 (363,589) Liability for new annuities issued 5,348 9,343 Interest and dividends restricted for long-term investment 9,741 10,000 (Increase) decrease in Accrued interest receivable 421 (1,733) Accounts receivable and advances (300) (1,556) Pledges receivable 5,211 9,071 Prepaid expenses and deposits (15,710) 30,527 Increase (decrease) in Accounts payable 154,915 (24,129) Net cash provided by operating activities $ 340,727 $ 278,427 See notes to financial statements. 6

10 NOTES TO FINANCIAL STATEMENTS December 31, 2011 and 2010 (1) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ORGANIZATION AND PURPOSE American Leprosy Missions, Inc. ( ALM ) is incorporated pursuant to the provisions of the Not-For- Profit Corporation Law of the State of New York. As a non-profit organization, it is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. The vision and principal ends of ALM are to work as Christ s servants, freeing the world of leprosy, buruli ulcer and related diseases by serving as a channel of the love of Christ to people affected by these diseases, helping them to be healed in body and spirit and to be restored to lives of dignity and usefulness within their community. ACCOUNTING ESTIMATES In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates. INCOME TAX STATUS The Organization is a public charity and qualifies as a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. Management has reviewed the tax positions for each of the open tax years ( ) or expected to be taken in the organization s 2011 tax return and has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. SUBSEQUENT EVENTS Subsequent events after the balance sheet date through the date that the financial statements were available for issuance, April 18, 2012, have been evaluated in the preparation of the financial statements. CASH EQUIVALENTS All highly liquid investments purchased with a maturity of three months or less are considered to be cash equivalents. CONCENTRATION OF CREDIT RISK ALM occasionally maintains deposits in excess of federally insured limits. Accounting Standards Codification ( ASC ) 825, Financial Instruments, identifies these items as a concentration of credit risk requiring disclosure, regardless of the degree of risk. The risk is managed by monitoring the financial institutions in which deposits are made. 7

11 NOTES TO FINANCIAL STATEMENTS (Continued) December 31, 2011 and 2010 REAL ESTATE HELD FOR INVESTMENT Donated real estate held for investment is stated at estimated fair market value at date of receipt plus subsequent capitalized expenses and betterments at cost. BUILDING AND EQUIPMENT Building and equipment is recorded at cost. Equipment acquired prior to January 1, 1974 is recorded at estimated fair market value. Depreciation is provided on the straight-line method over the estimated life of the asset 3 to 10 years for equipment and 30 years for building. LONG-TERM INVESTMENTS Long-term investments consist of marketable securities which are stated at market value with gains and losses, both realized and unrealized, included in the statement of activities. LIFE INCOME AGREEMENTS The funds held subject to life income provisions include amounts held subject to the payment to life beneficiaries of stated amounts in the case of gift annuities and uni-trusts. On maturity, the remainder interests revert to the organization. In accordance with provisions of the New York State Insurance Laws and the U.S. Internal Revenue Code, the assets of the segregated gift annuity are segregated from other assets of the organization. The agreements with the donors of the revocable gift fund provide that the excess income from the investment of the fund assets, over stated interest rate payments to beneficiaries, is to be available for unrestricted use unless stated to the contrary. Under the terms of the gift agreements, the donors may request the return of the principal. The actuarial valuations of the gift annuities and uni-trusts are recorded as annuity/uni-trust obligations and the entire revocable trust is recorded as a refundable advance due to the right of return of funds to the donor. The present value of the segregated gift annuities and other annuities and unitrust agreements was determined using discount rates ranging from 2.4% to 7.4%. CONTRIBUTIONS ALM reports gifts of cash and other assets as unrestricted support if they are received with donor stipulations that limit the use of the donated assets and these donor stipulations are met in the same reporting period. However, contributions for life income agreements are recorded as restricted support. When the donor restriction expires, that is, when the stipulated time restriction ends, temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities as net assets released from restrictions. PLEDGES RECEIVABLE Unconditional promises to give are included in the financial statements as pledges receivable and the related contribution revenue is recorded in the unrestricted and temporarily restricted net assets. Pledges are recorded net of an allowance for uncollectible pledges. 8

12 NOTES TO FINANCIAL STATEMENTS (Continued) December 31, 2011 and 2010 FUNCTIONAL ALLOCATION OF EXPENSES The costs of providing the various programs and other activities have been summarized on a functional basis. Accordingly, certain costs have been allocated among the programs and supporting services benefited. NET ASSETS Net assets and revenues, expenses, gains and losses are classified based on the existence or absence of donor-imposed restrictions. Accordingly, net assets of ALM and changes therein are classified and reported as follows: Unrestricted net assets include the revenues and expenses associated with the principal mission of ALM. Temporarily restricted net assets include gifts for which donor-imposed restrictions have not been met. Permanently restricted net assets include gifts, trusts and pledges which require, by donor restriction, that the corpus be invested in perpetuity and only the income be made available for program operations in accordance with donor restrictions. SUMMARIZED INFORMATION The financial statements include certain prior-year summarized information in total, but not by net asset class. Such information does not include sufficient detail to constitute a presentation in conformity with generally accepted accounting principles. Accordingly, such information should be read in conjunction with the ALM s audited financial statements for the year ended December 31, 2010, from which the summarized information was derived. RECLASSIFICATIONS Certain reclassifications were made to the 2010 financial statements to conform to the 2011 presentation. (2) LAND, BUILDING AND EQUIPMENT Land, building and equipment at December 31 are summarized as follows: Land $ 285,675 $ 285,675 Building and improvements 1,037,037 1,285,501 Equipment 2,704,113 2,656,066 4,026,825 4,227,242 Less accumulated depreciation 3,381,918 3,137,121 $ 644,907 $ 1,090,121 9

13 NOTES TO FINANCIAL STATEMENTS (Continued) December 31, 2011 and 2010 (3) LONG-TERM INVESTMENTS Cost and market values at December 31 are summarized as follows: Net Assets Cost Market Cost Market Unrestricted $ 3,859,742 $ 4,119,539 $ 3,657,626 $ 4,104,163 Temporarily Restricted Revocable Gift Agreements 67,338 66,883 66,500 66,110 Segregated Gift Annuity Agreements 755, , , ,616 Uni-trust and Annuity Agreements 370, , , ,699 Accumulated Endowment Income 210, , , ,812 1,403,868 1,523,210 1,403,532 1,594,237 Permanently restricted 508, , , ,093 Total $ 5,771,714 $ 6,237,842 $ 5,531,654 $ 6,293,493 The components of marketable securities at December 31 are: Cost Market Cost Market Cash and cash equivalents $ 290,371 $ 290,371 $ 228,263 $ 228,263 U.S. Government Treasury securities 919, , ,175 1,010,674 Corporate and municipal bonds 717, , , ,498 Common and preferred stocks 2,512,572 2,820,542 2,427,131 2,946,418 Mutual funds 1,331,486 1,424,660 1,317,019 1,501,640 $ 5,771,714 $ 6,237,842 $ 5,531,654 $ 6,293,493 At December 31, 2011 and 2010, the portfolio of marketable securities had unrealized gains of $466,128 and $761,839, respectively Investment income in the statement of activities and changes in net assets is shown net of $59,116 and $52,163 of investment management fees for the years ended December 31, 2011 and 2010, respectively. 10

14 NOTES TO FINANCIAL STATEMENTS (Continued) December 31, 2011 and 2010 ALM utilized various methods to measure the fair value of its investments on a recurring basis. Generally accepted accounting principles establish a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are described below: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities that ALM has the ability to access. Level 2 Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. Level 3 Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing ALM s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. The inputs methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The summary of inputs used to value ALM s investments as of December 31, 2011 and 2010 is as follows: 2011 Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 290,371 $ 290,371 $ - $ - U.S. Government Treasury Securities 965, ,928 - Corporate and municipal bonds 736, ,341 - Common and preferred stocks 2,820,542 2,820, Mutual funds 1,424,660 1,424, Total $6,237,842 $4,535,573 $1,702,269 $ - Beneficial interest in trust $4,442,482 $ - $ - $ 4,442, Total Level 1 Level 2 Level 3 Cash and cash equivalents $ 228,263 $ 228,263 $ - $ - U.S. Government Treasury Securities 1,010,674-1,010,674 - Corporate and municipal bonds 606, ,498 - Common and preferred stocks 2,946,418 2,946, Mutual funds 1,501,640 1,501, Total $6,293,493 $4,676,321 $1,617,172 $ - Beneficial interest in trust $4,693,153 $ - $ - $ 4,693,153 There were no transfers between Level 1 and Level 2 during the years ended December 31, 2011 and

15 NOTES TO FINANCIAL STATEMENTS (Continued) December 31, 2011 and 2010 The changes in the financial instruments as of December 31, 2011 and 2010 for which ALM used level 3 inputs to determine fair value are as follows: Balance, beginning of year $ 4,693,153 $ 4,329,564 Unrealized gains (losses) change in valuation (250,671) 363,589 Balance, end of year $ 4,442,482 $ 4,693,153 The beneficial interest in perpetual trust is measured at estimated future cash flows which involve unobservable inputs. As a result, the present value techniques would be Level 3 inputs. (4) CAPITAL LEASES ALM leases telephone equipment under a capital lease expiring in November The related office equipment is included in equipment at a cost of $13,245 with accumulated depreciation of $169 at December 31, Future minimum lease payments under this capital lease together with the present value of the net minimum lease payments at December 31, 2011 are as follows: 2012 $ 3, , , , ,125 Total minimum lease payments 16,769 Less: Amounts representing interest 3,693 Present value of minimum lease payments 13,076 Less: current portion of capital lease (2,148) Capital lease noncurrent portion $ 10,928 (5) NET ASSETS Temporarily restricted net assets are available for the following purposes: Life Income Agreements $ 642,352 $650,232 Accumulated Endowment Income 246, ,812 $ 889,070 $877,074 New York State law requires a segregated minimum reserve (liabilities plus minimum required surplus) for the gift annuity agreements. Assets (at market value) in the segregated gift annuity fund exceeded the calculated minimum reserve of $636,998 in 2011 and $733,707 in 2010 by $226,640 and $188,762, respectively. 12

16 NOTES TO FINANCIAL STATEMENTS (Continued) December 31, 2011 and Permanently restricted net assets are available for the following purpose: Investment in perpetuity, the income from which is expendable to support any activities of the organization $ 595,093 $ 595,093 Beneficial interest in perpetual trusts 4,442,482 4,693,153 $5,037,575 $ 5,288,246 Investment return on the permanently restricted net assets, which is included in the temporarily restricted revenue, for the years ended December 31, 2011 and 2010 was as follows: Investment income, net of fees $ 14,451 $ 12,601 Net realized/unrealized gains 5,455 86,865 Total investment return $ 19,906 $ 99,466 Included in temporarily restricted net assets at December 31, 2011 and 2010 was $246,718 and $226,812, respectively, of endowment funds representing accumulated gains on the permanently restricted net assets. The accumulated gains are classified as temporarily restricted net assets until appropriated for spending by ALM in accordance with the Uniform Prudent Management of Institutional Funds Act ( UPMIFA ) as enacted by the State of South Carolina. (6) PENSION PLANS ALM contributes to a defined contribution plan covering substantially all of its employees. Contributions to the plan are based upon earnings and are accrued and funded on a current basis. Pension expense was approximately $39,000 and $58,000 for the years ended December 31, 2011 and 2010, respectively. 13

17 SUPPLEMENTAL INFORMATION

18 SCHEDULE OF PROGRAM SERVICE GRANTS AND OTHER DISBURSEMENTS Year ended December 31, 2011 with summarized information for 2010 Africa Socio- Prevention Leprosy Other Training Of Economic Of Total Treatment Diseases Professionals Services Disabilities Research Angola $ 64,316 $ - $ 38,084 $ 51,170 $ 21,430 $ - $ 175,000 $ 188,000 Congo 387, ,494 45,323 16,180 26, , ,798 Cote D Ivoire - 80, , ,532 Ethiopia , ,500 24,830 Ghana - 67, ,200 55,000 Liberia 25,000 41, ,500 15,000 Somalia 15, ,000 5,000-25,000 15, , ,194 83,407 94,850 53,088-1,039,184 1,058,160 Asia and Pacific Islands Bangladesh ,590 25,590-51,180 38,692 China ,000-65, ,000 India 110,906-52, ,723 29,733 12, , ,100 Myanmar 93, ,772 43,278 88, , ,604 Nepal 105,620-6, , ,480 24, , ,527 Philippines 67, , , , ,371 Thailand , ,000 17, , , , ,023 36,853 1,533,977 1,141,794 The Americas Brazil 20, ,000 23, , , , , ,111 36,853 2,593,161 2,223,530 Miscellaneous Grants and Disbursements Vaccine Research , , ,000 Other Research , , ,367 Training and Other 93,118 59, ,360 56, , , , ,378 93,118 59, ,360 56, , ,080 1,244, ,745 Total grants $ 982,830 $ 375,772 $ 355,708 $ 723,753 $ 548,144 $ 851,933 $ 3,838,140 $ 3,168,275 14