NEIGHBORHOOD HOUSE OF MILWAUKEE, INC. FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, (With Summarized Totals for the Year Ended June 30, 2017)

Transcription

1 FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2018 (With Summarized Totals for the Year Ended June 30, 2017)

2 T A B L E O F C O N T E N T S Page Independent Auditor's Report Balance Sheet... 3 Statement of Activities... 4 Statement of Cash Flows... 5 Statement of Functional Expenses... 6 Notes to the Financial Statements Schedule of Unrestricted Revenue and Expenses by Program... 15

3 Board of Directors Neighborhood House of Milwaukee, Inc. Independent Auditor s Report Report on the Financial Statements We have audited the accompanying financial statements of Neighborhood House of Milwaukee, Inc. which comprise the balance sheet as of June 30, 2018, and the related statements of activities, cash flows and functional expenses for the year then ended, and the related notes to the financial statements. Management s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor s Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. 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 involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Organization s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Organization s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Neighborhood House of Milwaukee, Inc. as of June 30, 2018, and the changes in its net assets and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.

4 Board of Directors Neighborhood House of Milwaukee, Inc. Report on Summarized Comparative Information We have previously audited Neighborhood House of Milwaukee, Inc. s June 30, 2017 financial statements, and we expressed an unmodified audit opinion on those audited financial statements in our report dated September 27, In our opinion, the summarized comparative information presented herein as of and for the year ended June 30, 2017, is consistent, in all material respects, with the audited financial statements from which it has been derived. Supplementary Information Our audit was conducted for the purpose of forming an opinion on the financial statements as a whole. The schedule of unrestricted revenue and expenses is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the basic financial statements as a whole. Milwaukee, Wisconsin October 3, 2018 RITZ HOLMAN LLP Certified Public Accountants - 2 -

5 BALANCE SHEET JUNE 30, 2018 (With Summarized Totals for June 30, 2017) ASSETS CURRENT ASSETS Cash and Cash Equivalents $ 255,875 $ 343,666 Grants and Contracts Receivable 165, ,059 Accounts Receivable 51, Current Portion of Pledges Receivable 186,184 69,030 Allowance for Uncollectible Receivables (3,006) (8,000) Prepaid Expenses ,089 Total Current Assets $ 656,555 $ 558,844 NONCURRENT ASSETS Pledge Receivable - Net of Current Portion $ 20,000 $ 30,000 Certificate of Deposit - Restricted 35,803 35,749 Beneficial Interest - Greater Milwaukee Foundation Fund 807, ,719 Total Noncurrent Assets $ 863,365 $ 794,468 FIXED ASSETS Land $ 192,736 $ 192,736 Building and Improvements 3,340,720 3,323,931 Farm Improvements 166, ,678 Furniture and Equipment 520, ,428 Automobiles 38,882 38,882 Total Fixed Assets $ 4,259,917 $ 4,233,655 Less: Accumulated Depreciation (2,940,603) (2,853,978) Net Fixed Assets $ 1,319,314 $ 1,379,677 TOTAL ASSETS $ 2,839,234 $ 2,732,989 LIABILITIES AND NET ASSETS CURRENT LIABILITIES Accounts Payable $ 75,682 $ 44,863 Accrued Payroll Expenses 77,991 90,851 Note Payable - Current Portion 19,059 15,347 Total Noncurrent Liabilities $ 172,732 $ 151,061 NONCURRENT LIABILITIES Note Payable - Long-Term Portion $ 62,177 $ 167,179 Total Current Liabilities $ 62,177 $ 167,179 Total Liabilities $ 234,909 $ 318,240 NET ASSETS Unrestricted $ 2,443,039 $ 2,338,799 Temporarily Restricted 161,286 75,950 Total Net Assets $ 2,604,325 $ 2,414,749 TOTAL LIABILITIES AND NET ASSETS $ 2,839,234 $ 2,732,989 The accompanying notes are an integral part of these financial statements

6 STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2018 (With Summarized Totals for the Year Ended June 30, 2017) Temporarily Restricted 2018 Total Unrestricted Total REVENUE Grants $ 697,973 $ --- $ 697,973 $ 599,634 Contributions 475, , , ,780 In-Kind Revenue 84, ,025 33,368 United Way 374, , ,426 Wisconsin Shares 362, , ,211 Child Care Fees 143, , ,715 Gain (Loss) on Beneficial Interest 52, ,763 87,973 Contract Services 27, , ,809 Interest Income Special Events Revenue 214,469 3, , ,061 Special Events Expense (39,623) --- (39,623) (36,311) Rental Income 12, ,440 14,482 Other Revenue 8, ,468 11,922 Loss on Disposal of Assets (1,750) --- (1,750) --- Insurance Proceeds for Water Damage 50, , Net Assets Released from Restrictions 45,950 (45,950) Total Revenue $ 2,508,687 $ 85,336 $ 2,594,023 $ 2,467,124 EXPENSES Program Services $ 1,962,876 $ --- $ 1,962,876 $ 1,841,082 Management and General 254, , ,515 Fundraising 187, , ,626 Total Expenses $ 2,404,447 $ --- $ 2,404,447 $ 2,257,223 CHANGE IN NET ASSETS $ 104,240 $ 85,336 $ 189,576 $ 209,901 Net Assets, Beginning of Year 2,338,799 75,950 2,414,749 2,204,848 NET ASSETS, END OF YEAR $ 2,443,039 $ 161,286 $ 2,604,325 $ 2,414, The accompanying notes are an integral part of these financial statements

7 STATEMENT OF CASH FLOWS FOR THE YEAR ENDED JUNE 30, 2018 (With Summarized Totals for the Year Ended June 30, 2017) CASH FLOWS FROM OPERATING ACTIVITIES Change in Net Assets $ 189,576 $ 209,901 Adjustments to Reconcile Change in Net Assets to Net Cash Provided by Operating Activities (Gain) Loss on Beneficial Interest (78,843) (87,973) Depreciation 91,875 92,431 Loss on Disposition of Asset 1, (Increase) Decrease in Grants and Contracts Receivable (28,502) 21,126 (Increase) Decrease in Accounts Receivable (51,941) (24,270) (Increase) Decrease in Child Care Receivable --- (3,990) (Increase) Decrease in Pledges Receivable (107,154) (35,544) (Increase) Decrease in Allowance for Uncollectible Accounts (4,994) (35,544) (Increase) Decrease in Prepaid Expenses 17,089 (10,532) Increase (Decrease) in Accounts Payable 30,819 16,360 Increase (Decrease) in Accrued Payroll Expenses (12,860) 17,094 Net Cash Provided by Operating Activities $ 46,815 $ 159,059 CASH FLOWS FROM INVESTING ACTIVITIES Purchase of Fixed Assets $ (33,262) $ (7,536) Additions to the Unemployment Reserve Certificate of Deposit (54) (53) Net Cash Used by Investing Activities $ (33,316) $ (7,589) CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from Notes Payable $ --- $ 185,000 Payments on Notes Payable (101,290) (184,853) Net Cash (Used) Provided by Financing Activities $ (101,290) $ 147 Net (Decrease) Increase in Cash and Cash Equivalents $ (87,791) $ 187,161 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 343, ,505 CASH AND CASH EQUIVALENTS AT END OF YEAR $ 255,875 $ 343,666 SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION Interest Paid $ 6,686 $ 8,060 The accompanying notes are an integral part of these financial statements

8 STATEMENT OF FUNCTIONAL EXPENSES FOR THE YEAR ENDED JUNE 30, 2018 (With Summarized Totals for the Year Ended June 30, 2017) Program Services Management and General Fundraising Total Total Salaries and Wages $ 1,195,666 $ 141,433 $ 80,355 $ 1,417,455 $ 1,379,504 Employee Benefits 64,586 7,640 4,341 76,567 74,222 Retirement 8, ,556 8,943 Payroll Taxes 98,404 11,640 6, , ,566 Professional Fees 28,061 25,918 49, ,956 95,511 Contract Services 32, ,838 27,727 Office Supplies 4,190 3,388 1,024 8,602 5,329 Human Resources Supplies 2,925 6, ,210 8,904 Telephone 9,712 2, ,610 10,505 Postage 6 1,041 2,264 3,311 3,365 Printing ,664 5,830 2,873 Technology ,193 4,082 1,304 Subscriptions ,596 2,095 1,013 Occupancy 77,078 5,707 2,473 85,258 69,314 Utilities 49,502 11,120 3,762 64,384 78,169 Marketing and Promotion 1, ,537 4,137 11,327 Program and Special Event Supplies 73, ,333 28,905 Educational Supplies 8, ,671 9,297 Participant Engagement 5, , Food 50,918 1,886 2,403 55,207 50,080 Field Trips 22, ,191 12,181 Playground Expense Grant Supplies 6, ,751 2,834 Equipment Rental and Maintenance 30,409 6,595 2,957 39,961 31,610 Maintenance and Housekeeping Supplies 22,028 3,831 1,556 27,415 20,729 Depreciation 82,755 2,689 6,431 91,875 92,431 Travel 29,304 1, ,824 37,884 Conferences, Conventions and Meetings ,072 1,559 Fundraising Expense ,998 1,998 5,993 Interest Expense 5,082 1, ,686 8,060 Insurance 29,277 1,996 1,996 33,269 31,722 Membership Dues 13,352 5, ,023 8,428 Staff Development 7, ,614 4,926 Bank Charges and Fees 59 5,174 3,410 8,643 9,071 Awards and Donations Licenses ,554 Real Estate Taxes Other Expense 1,189 3, ,476 1,568 TOTALS $ 1,962,876 $ 254,102 $ 187,469 $ 2,404,447 $ 2,257,223 The accompanying notes are an integral part of these financial statements

9 NOTES TO THE FINANCIAL STATEMENTS JUNE 30,

10 NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2018 NOTE A - Summary of Significant Accounting Policies Organization Neighborhood House of Milwaukee, Inc. (the Organization ) is a non-profit community center founded in 1945 which served nearly 3,500 area residents last year. Its mission is to inspire and connect to strengthen families and the community. Its vision is to be the cornerstone of a safe and nurturing community. Neighborhood House offers programs for early school-aged children, teens, and families. It also serves as a center for several community-based collaborative initiatives such as the Personal Responsibility Education Program (PREP) and the Story School after school program. Neighborhood House also operates the International Learning Center, as the largest educator of refugees in Wisconsin, which prepares newly arrived refugees for self-sufficiency by conducting English as a second language and citizenship classes. Accounting Method The financial statements of the Organization have been prepared on the accrual basis of accounting. Basis of Presentation The Organization reports information regarding its financial position and activities according to three classes of net assets: unrestricted net assets, temporarily restricted net assets, and permanently restricted net assets. Assets of the restricted classes are created only by donorimposed restrictions. Contributions All contributions are considered available for the Organization s general programs unless specifically restricted by the donor. Amounts received that are designated for future periods or restricted by the donor are reported as temporarily or permanently restricted support and increase the respective class of net assets. Contributions received with temporary restrictions that are met in the same reporting period are reported as unrestricted support and increase unrestricted net assets. When a restriction expires, temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities as net assets released from restrictions. Investment income that is limited to specific uses by donor restrictions is reported as increases in unrestricted net assets if the restrictions are met in the same reporting period that the income is recognized. Cash and Cash Equivalents For purposes of the statement of cash flows, cash and cash equivalents include all highly liquid debt instruments with original maturities of three months or less. Grants and Contracts Receivable Grants and contracts receivable includes amounts due to the Organization for services provided or reimbursable costs per grant and contract agreements

11 NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2018 NOTE A - Summary of Significant Accounting Policies (continued) Accounts Receivable Accounts receivable includes amounts due related to exchange transactions and receivables from insurance claims. Accounts receivable are stated at unpaid balances, less an allowance for doubtful accounts when amounts are not expected to be fully collectible. The allowance is based on experience, third-party contracts, and other circumstances, which may affect the ability of customers to meet their obligations. Receivables are considered impaired if full principal payments are not received in accordance with the contractual terms. It is the Organization s policy to charge off uncollectible accounts receivable when management determines the receivable will not be collected. Pledges Receivable Pledges receivable are recorded when the Organization receives an unconditional promise to give or when the condition is met of a conditional promise to give. Pledges expected to be received in more than one year from the balance sheet date are discounted for their estimated present value and recorded in long-term assets. Pledges receivable also includes contributions considered to be in-transit as of year-end. Allowance for Uncollectible Accounts At June 30, 2018 the allowance for uncollectible accounts was $3,006. Fixed Assets Fixed assets are recorded at cost. Depreciation is provided over the estimated useful lives of the assets using the straight-line method. The Organization capitalizes all fixed assets with a value greater than $2,500. Donated fixed assets are recorded at fair value at the date of donation. Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. NOTE B - Comparative Financial Information The financial information shown for 2017 in the accompanying financial statements is included to provide a basis for comparison with The comparative information is summarized by total only, not by net asset class. Such information does not include sufficient detail to constitute a presentation in conformity to generally accepted accounting principles. Accordingly, such information should be read in conjunction with the Organization s financial statements for the year ended June 30, 2017, from which the summarized information was derived. Reclassifications Certain amounts in the 2017 financial statements have been reclassified for comparative purposes to conform to the presentation in the 2018 financial statements. Net assets and changes in net assets are unchanged due to these reclassifications

12 NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2018 NOTE C - Pledges Receivable Pledges receivable consist of unconditional promises to give and amounts in-transit to the Organization. Future pledges are expected to be collected as follows: During the Year Ending June 30, Amount 2019 $186, , ,000 Net Pledges Receivable $206,184 NOTE D - Grants Receivable Grants receivable consists of the following as of June 30, 2018: Source Amount City of Milwaukee $ 13,235 End Domestic Abuse 22,655 Wisconsin Department of Health Services 15,357 Milwaukee Public Schools 65,142 Next Door Foundation 7,457 ResCare Workforce Services 16,075 United States Forest Service 1,145 Cal Ripken, Sr. Foundation, Inc. 636 Community Advocates 6,526 Wisconsin Department of Children and Families 10,976 Wisconsin Department of Public Instruction 6,357 Total $165,561 NOTE E - In Kind Donations The Organization uses space at a local church and is not charged rent, only a portion of the utilities. The estimated fair value of the space received at no charge is $25,527. The Organization also received $59,498 of donated clothes used for programs which has been recorded in in-kind revenue and program supplies

13 NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2018 NOTE F - Restricted Certificate of Deposit - State Unemployment Reserve The Organization adopted the reimbursement method for state unemployment compensation purposes. As required by the Wisconsin Unemployment Fund, the Organization assures reimbursement to the Wisconsin Unemployment Fund by means of holding a restricted certificate of deposit as a reserve for state unemployment. The balance of the certificate of deposit was $35,803 as of June 30, NOTE G - Operating Lease The Organization entered into a five-year lease agreement for the use of a copy machine on September 25, Rent expense was $11,303 for the year ended June 30, The following is a schedule by years of the future minimum payments required under the lease: For the Year Ending June 30, Amount 2019 $ 8, ,012 Total $10,061 NOTE H - Fair Value Measurements The Organization has adopted the Financial Accounting Standards Board guidance on fair value measurements. A three-tier hierarchy is used to maximize the use of observable market data inputs and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Financial assets valued using level 1 inputs are based on unadjusted quoted market prices within active markets. Financial assets valued using level 2 inputs are based primarily on quoted prices for similar assets in active or inactive markets. Financial assets valued using level 3 inputs are based primarily on valuation models with significant unobservable pricing inputs and which result in the use of management estimates

14 NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2018 NOTE H - Fair Value Measurements (continued) The following table sets forth by level, within the fair value hierarchy, the Organization s assets at fair value as of June 30, Quoted Prices In Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Investment Category Fair Value (Level 1) (Level 2) (Level 3) Greater Milwaukee Foundation Investments $807,562 $ --- $ --- $807,562 Total $807,562 $ --- $ --- $807,562 Greater Milwaukee Foundation investments include equities securities, fixed income securities, absolute return hedge funds, and long/short equity hedge funds. The funds are held by the Greater Milwaukee Foundation which reports on a calendar year. Assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3): Fair Value Measurements Using Significant Unobservable Inputs (Level 3) GMF Investments Total Beginning Balance, July 1, 2017 $728,719 $728,719 Contributions 26,080 26,080 Gain on Beneficial Interest 52,763 52,763 Ending Balance, June 30, 2018 $807,562 $807,562 The amount of unrealized gains or losses for the year ended June 30, 2018, included in unrestricted net assets relating to assets still held at the reporting date was a gain of $52,

15 NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2018 NOTE I - Beneficial Interest - Greater Milwaukee Foundation The Organization maintains a fund with the Greater Milwaukee Foundation, a community foundation, for investment purposes. The Neighborhood House Fund is considered a component fund of the Greater Milwaukee Foundation. The Greater Milwaukee Foundation accepted a contribution from the Organization and agrees to transfer those assets and the return on investment of those assets back to the Organization. The Greater Milwaukee Foundation is legal owner of the assets. The Greater Milwaukee Foundation makes investment decisions and determines the amount of income to be transmitted annually to the Organization. The size of distributions from the fund is determined in accordance with the Greater Milwaukee Foundation s distribution policy. The value of the fund includes contributions, net investment income or loss, less distributions. The beneficial interest is reported at the fair value of the fund as of June 30, Gain on beneficial interest is summarized as follows: Investment income $60,122 Investment Management Fees (7,359) Total Gain on Beneficial Interest $52,763 NOTE J - Line of Credit The Organization has a revolving line of credit agreement with a bank allowing for maximum borrowings of $300,000. Borrowings under the line of credit bear a variable interest rate equal to the bank index rate, currently 5%. The line of credit matures on April 15, The line of credit is secured by all security agreements, guarantees, mortgages, and other security instruments previously granted, contemporaneously granted, and granted in the future. As of June 30, 2018, the line of credit had no balance. NOTE K - Note Payable The Organization has a note payable that matures on April 10, At June 30, 2018, the note had an outstanding balance of $81,236. The interest rate is a fixed interest rate of 4.25%. The note is collateralized by all assets. Maturities of the note payable for the next five years are as follows: For the Year Ending June 30, Amount 2019 $19, , , ,160 Total $81,

16 NOTES TO THE FINANCIAL STATEMENTS JUNE 30, 2018 NOTE L - Temporarily Restricted Net Assets Temporarily restricted net assets consist on the following as of June 30, Purpose Amount Lead and Learn Urban Ecology Program $ 89,366 Sustaining Support 30,000 Summer Youth Program 28,000 Golf Event 3,920 Day-Care 10,000 Total $161,286 NOTE M - Retirement Plan The Organization participates in a 401(k) plan where the Organization will contribute an amount equal to 100% of employee contributions up to 2% to the plan. Employees who work more than 1,000 hours by the first anniversary of hire or 1,000 hours in any subsequent plan year are eligible to participate. The expense for the year ended June 30, 2018, was $9,556. NOTE N - Income Taxes The Organization is exempt from income tax under Section 501(c)(3) of Internal Revenue Code and is classified as other than a private foundation. Management has reviewed all tax positions recognized in previously filed tax returns and those expected to be taken in future tax returns. As of June 30, 2018, the Organization had no amounts related to unrecognized income tax benefits and no amounts related to accrued interest and penalties. The Organization does not anticipate any significant changes to unrecognized income tax benefits over the next year. NOTE O - Subsequent Events The Organization has evaluated events and transactions occurring after June 30, 2018 through October 3, 2018, the date the financial statements are available to be issued, for possible adjustments to the financial statements or disclosures. The Organization has determined that no subsequent events need to be disclosed

17 NOTE TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AND STATE AWARDS FOR THE YEAR ENDED JUNE 30, 2018 NOTE 1 - Basis of Presentation The accompanying schedule of expenditures of federal and state awards includes the federal and state grant activity of Neighborhood House of Milwaukee, Inc. and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of the Department of Health Services Audit Guide and the Provider Agency Audit Guide. Therefore, some amounts presented in this schedule may differ from amounts presented in, or used in the preparation of, the basic financial statements. General and administrative costs are allocated based on actual direct costs, the Organization does not use the de minimis cost rate

18 SCHEDULE OF UNRESTRICTED REVENUE AND EXPENSES BY PROGRAM FOR THE YEAR ENDED JUNE 30, 2018 (With Summarized Totals for the Year Ended June 30, 2017) Community and Outdoor Early Childhood Youth Family Life International Maintenance and Development and Programs Development Services and Education Learning Center Occupancy Administration Marketing Total Total REVENUE Grants $ 33,333 $ 115,007 $ 54,678 $ 194,725 $ 300,230 $ --- $ --- $ --- $ 697,973 $ 599,634 Contributions , ,904 16, , , ,830 In-Kind Revenue 11,900 11,900 11,900 11,900 35, ,025 33,368 United Way ,801 90, , , ,426 Wisconsin Shares 62, , , ,211 Child Care Fees 4, ,502 2, , , ,715 Gain (Loss) on Beneficial Interest , ,763 87,974 Contract Services ,377 7,272 4,000 12, , ,809 Other Investment Income Special Events Revenue (20) (12) 214, , ,061 Special Events Expense (39,623) (39,623) (36,311) Rental Income ,925 1, ,440 14,482 Other Revenue , , ,468 11,922 Loss on Disposal of Assets (1,750) --- (1,750) --- Insurance Proceeds for Water Damage , , Net Assets Released from Restrictions 25, ,000 45,950 44,750 Total Revenue $ 138,553 $ 838,515 $ 163,713 $ 281,618 $ 361,737 $ 23,993 $ 107,272 $ 593,286 $ 2,508,687 $ 2,435,924 EXPENSES Salaries and Wages $ 94,210 $ 472,706 $ 116,913 $ 165,147 $ 198,058 $ 77,206 $ 204,319 $ 88,896 $ 1,417,455 $ 1,379,504 Employee Benefits 1,399 40,526 1,353 4,911 4,249 1,811 18,058 4,260 76,567 74,222 Retirement --- 3,868 1,350 1,116 1, ,556 8,943 Payroll Taxes 8,006 37,650 11,014 13,065 17,279 7,030 14,601 8, , ,566 Professional Fees ,508 10,275 7, ,984 49, ,956 95,511 Contract Services ,045 7,451 2, ,838 27,727 Office Supplies ,432 2, ,386 1,023 8,602 5,329 Human Resource Supplies , ,210 8,904 Telephone ,590 3, , ,610 10,505 Postage ,040 2,264 3,311 3,365 Printing ,664 5,830 2,873 Technology ,193 4,082 1,304 Subscriptions ,596 2,095 1,013 Occupancy ,240 37,575 37, ,258 69,314 Utilities ,193 3,000 56,718 2, ,384 78,169 Marketing and Promotion , ,537 4,137 11,327 Program and Special Event Supplies 11,990 14,472 14,040 20,423 12, ,333 28,905 Educational Supplies ,889 1, ,671 9,297 Participant Engagement , , Food , , ,885 2,402 55,207 50,080 Field Trips 4,644 7,856 3,508 6, ,191 12,181 Playground Expense Grant Supplies , ,751 2,834 Equipment Rental and Maintenance ,231 4,800 20,631 9,809 1,589 39,961 31,610 Maintenance and Housekeeping Supplies --- 1, , , ,415 20,729 Depreciation 1,836 35,833 22,050 11, ,781 6,431 91,875 92,431 Travel 2,881 9,770 2,927 9, , ,824 37,884 Conferences, Conventions and Meetings ,072 1,559 Fundraising Expense ,998 1,998 5,993 Interest Expense , ,686 8,060 Insurance , , ,269 31,722 Membership Dues 50 9, , , ,023 8,428 Staff Development 1,135 1, , ,614 4,926 Bank Charges and Fees ,164 3,406 8,643 9,071 Awards and Donations Licenses ,554 Real Estate Taxes Other Expenses , ,476 1,568 Occupancy Allocation 15,380 84,446 19,427 29,420 31,531 (212,807) 20,978 11, Administrative Allocation 26, ,902 42,902 65,301 65, (395,709) 42, Total Expenses $ 169,146 $ 919,822 $ 263,592 $ 398,354 $ 399,034 $ 18,207 $ (3,043) $ 239,335 $ 2,404,447 $ 2,257,223 CHANGE IN NET ASSETS $ (30,593) $ (81,307) $ (99,879) $ (116,736) $ (37,297) $ 5,786 $ 110,315 $ 353,951 $ 104,240 $ 178,