COLUMBUS HOUSE, INC. AND SUBSIDIARY

Transcription

1 CONSOLIDATED FINANCIAL STATEMENTS JUNE 30, 2013 AND 2012

2 CONTENTS Independent Auditor s Report 1-2 Consolidated Statements of Financial Position - June 30, 2013 and Consolidated Statements of Activities for the Years Ended June 30, 2013 and Consolidated Statements of Cash Flows for the Years Ended June 30, 2013 and Consolidated Statements of Functional Expenses for the Years Ended June 30, 2013 and Notes to Consolidated Financial Statements 7-14 Independent Auditors Report on Supplementary Information 15 Consolidated Schedules of Program Services Expenses for the Years Ended June 30, 2013 and

3 29 South Main Street P.O. Box West Hartford, CT Tel Fax blumshapiro.com 2 Enterprise Drive P.O. Box 2488 Shelton, CT Tel Fax blumshapiro.com Independent Auditors Report The Board of Directors Columbus House, Inc. and Subsidiary Report on the Financial Statements We have audited the accompanying financial statements of Columbus House, Inc. and Subsidiary (collectively, the Organization), which comprise the consolidated statements of financial position as of June 30, 2013 and 2012 and the related consolidated statements of activities, cash flows and functional expenses for the years then ended, and the related notes to the consolidated 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. Auditors Responsibility Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from 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 auditors 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 auditors consider internal control relevant to the entity 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 entity 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. -1- Blum, Shapiro & Company, P.C. An Independent Member of Baker Tilly International

4 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 consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Organization as of June 30, 2013 and 2012 and the changes in its net assets and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued a report dated December 3, 2013 on our consideration of the Organization s internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts, grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Organization s internal control over financial reporting and compliance. Shelton, Connecticut December 3,

5 CONSOLIDATED STATEMENTS OF FINANCIAL POSITION JUNE 30, 2013 AND 2012 ASSETS Cash and cash equivalents $ 450,355 $ 503,741 Investments - other 208,437 - Grants receivable 347, ,248 Contract and other receivables 153, ,668 Bequests receivable 10, ,698 Prepaid expenses 43,247 37,852 Client funds 61,533 12,463 Other assets 15,875 11,632 Property, buildings and equipment, net 6,814,170 6,867,138 Total Assets $ 8,104,970 $ 8,144,440 LIABILITIES AND NET ASSETS Liabilities Cash overdraft $ - $ 40,748 Accounts payable and accrued expenses 525, ,635 Client funds liability 61,533 12,463 Notes payable 834, ,342 Refundable advances 167, ,307 Total liabilities 1,589,074 1,518,495 Net Assets Unrestricted 5,908,540 5,673,910 Temporarily restricted 566, ,335 Permanently restricted 40,700 40,700 Total net assets 6,515,896 6,625,945 Total Liabilities and Net Assets $ 8,104,970 $ 8,144,440 The accompanying notes are an integral part of the consolidated financial statements -3-

6 CONSOLIDATED STATEMENTS OF ACTIVITIES FOR THE YEARS ENDED JUNE 30, 2013 AND Temporarily Permanently Temporarily Permanently Unrestricted Restricted Restricted Total Unrestricted Restricted Restricted Total Revenues, Support and Other Changes Federal and state grants $ 5,897,437 $ - $ - $ 5,897,437 $ 6,052,239 $ - $ - $ 6,052,239 Contributions 545, , , , ,539-1,343,734 Client fees 500, , , ,011 Other grants 197, , , ,450 Program fees 137, , , ,138 Donations in-kind 107, , , ,838 Special fund-raising activities 83, ,425 37, ,664 Miscellaneous income 7, ,344 65, ,368 Interest income 6, ,456 3, ,211 Net assets released from restrictions 554,713 (554,713) ,627 (33,627) - - Total revenues, support and other changes 8,037,085 (344,679) - 7,692,406 7,571, ,912-8,355,653 Expenses Program services 6,022, ,022,940 6,030, ,030,249 Management and general 1,168, ,168,106 1,101, ,101,967 Development and fundraising 369, , , ,224 Total expenses 7,560, ,560,165 7,406, ,406,440 Change in Net Assets before Depreciation 476,920 (344,679) - 132, , , ,213 Depreciation Expense (242,290) - - (242,290) (237,522) - - (237,522) Increase (Decrease) in Net Assets 234,630 (344,679) - (110,049) (72,221) 783, ,691 Net Assets - Beginning of Year 5,673, ,335 40,700 6,625,945 5,746, ,423 40,700 5,914,254 Net Assets - End of Year $ 5,908,540 $ 566,656 $ 40,700 $ 6,515,896 $ 5,673,910 $ 911,335 $ 40,700 $ 6,625,945 The accompanying notes are an integral part of the consolidated financial statements -4-

7 CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED JUNE 30, 2013 AND Cash Flows from Operating Activities Increase (decrease) in net assets $ (110,049) $ 711,691 Adjustments to reconcile increase (decrease) in net assets to net cash provided by operating activities: Depreciation and amortization 242, ,522 (Increase) decrease in operating assets: Grants receivable (96,015) 141,146 Contract and other receivables (52,922) (39,945) Bequests receivable 349,198 (359,698) Prepaid expenses (5,395) 6,123 Client funds (49,070) (12,463) Other assets (4,243) 5,809 Increase (decrease) in operating liabilities: Accounts payable and accrued expenses 38,032 (227,440) Client funds liabilities 49,070 12,463 Refundable advances 1,104 (7,016) Net cash provided by operating activities 362, ,192 Cash Flows from Investing Activities Acquisition of property, buildings and equipment (189,322) (313,376) Purchases of investments - other (208,437) - Net cash used in investing activities (397,759) (313,376) Cash Flows from Financing Activities Increase (decrease) in cash overdraft (40,748) 40,748 Repayments on notes payable (26,879) (24,131) Proceeds from note payable 50,000 50,000 Repayments on line of credit - (150,000) Net cash used in financing activities (17,627) (83,383) Net Increase (Decrease) in Cash and Cash Equivalents (53,386) 71,433 Cash and Cash Equivalents - Beginning of Year 503, ,308 Cash and Cash Equivalents - End of Year $ 450,355 $ 503,741 Cash Paid During the Year for Interest $ 31,183 $ 37,715 The accompanying notes are an integral part of the consolidated financial statements -5-

8 CONSOLIDATED STATEMENTS OF FUNCTIONAL EXPENSES FOR THE YEARS ENDED JUNE 30, 2013 AND Development Development Program Management and Program Management and Services and General Fundraising Total Services and General Fundraising Total Personnel costs $ 3,670,533 $ 898,941 $ 290,721 $ 4,860,195 $ 3,282,438 $ 864,306 $ 227,321 $ 4,374,065 Subcontracts 500, , , ,571 Direct housing assistance 457, , , ,458 Occupancy 312,269 32, , ,358 27, ,017 House and grounds supplies and services 197,013 3, , ,197 3, ,878 Office expense 123,814 48,494 11, , ,009 62,877 9, ,025 Food and supplies 179, , , ,153 Professional fees and contractual services 105,302 54,929 6, , ,531 46,763 4, ,584 Consultants 81,868 80, ,280 82,067 54, ,900 Transportation and vehicle expense 148,923 7, , ,114 13, ,586 Insurance 109,162 26,649 1, , ,018 25,366 1, ,467 Client support 106, , , ,710 Promotion 5,074 7,104 54,571 66, ,440 29,978 32,225 Interest 24,164 7,218 4,268 35,650 38,198 1,956 1,647 41,801 Total Expenses Before Depreciation and Amortization 6,022,940 1,168, ,119 7,560,165 6,030,249 1,101, ,224 7,406,440 Depreciation and Amortization 204,922 33,361 4, , ,244 21,446 2, ,522 Total Expenses $ 6,227,862 $ 1,201,467 $ 373,126 $ 7,802,455 $ 6,243,493 $ 1,123,413 $ 277,056 $ 7,643,962 The accompanying notes are an integral part of the consolidated financial statements -6-

9 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 1 - ORGANIZATION The Columbus House, Inc. (the Organization) is a Connecticut nonstock corporation providing emergency night shelter and meals for homeless individuals and the operation of programs to facilitate the reintroduction of homeless individuals to society. These services are funded by contributions and grants from individuals, foundations, religious organizations and government entities and reimbursements from public agencies. CH Supportive Housing-1, LLC, a single member limited liability company owned by Columbus House, Inc., was organized in December 2012 for the purpose of developing and managing housing for homeless individuals in Connecticut. CH Supportive Housing-1, LLC has been inactive since inception. Program Services - The Organization provides the following services: Shelter Services - The Organization provides 173 emergency shelter beds to homeless individuals in 3 facilities located in New Haven, Connecticut. Additionally, the agency operates a 7-unit shelter for homeless families in Middletown, Connecticut. Services includes meals, basic needs such as clothing and case management services to assist in locating appropriate housing, medical care, mental health and/or substance abuse treatment, and employment support. Supportive Housing Services - The Organization provides Transitional Supportive Housing services to 36 formerly homeless individuals at 3 of its facilities in New Haven and Permanent Supportive Housing (PSH) for close to 200 formerly homeless individuals in New Haven and Middletown, Connecticut and surrounding towns. Certain of the programs are targeted specifically to homeless veterans. In addition to directly providing housing and/or rental assistance, case management services aimed at assisting in the development of necessary life skills to maintain stable housing is also provided to these individuals. Community Support Services - The Organization operates several programs aimed at facilitating homeless individuals to enroll in public benefit programs, locate housing, and prepare for and obtain employment. Additionally, the Organization operates a transportation program for eligible homeless adults to and from various treatment facilities located throughout the state. Homeless Outreach Services - The Organization reaches out daily to a highly vulnerable population: those living on the streets, under bridges, in encampments, many of whom live with severe mental illness, struggle with addiction, and may have a criminal history. The primary purpose of Outreach Services is to engage homeless individuals living outside to access services related to housing, clinical assistance or family interventions. -7-

10 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Accounting and Presentation - The financial statements are presented on a consolidated basis to include the transactions of Columbus House, Inc. and its subsidiary, CH Supportive Housing-1, LLC (collectively, the Organization). All material intercompany balances and transactions have been eliminated in the consolidated financial statements. The consolidated financial statements have been prepared on the accrual basis in accordance with accounting principles generally accepted in the United States of America. Accordingly, the accounts of the Organization are reported in the following net asset categories: Unrestricted Net Assets - Unrestricted net assets represent available resources other than donorrestricted contributions. These resources may be expended at the discretion of the Board of Directors. The Board of Directors has designated net assets of $303,010 for operational reserves at June 30, 2013 and Temporarily Restricted Net Assets - Temporarily restricted net assets represent contributions that are restricted by the donor either as to purpose or time. Permanently Restricted Net Assets - Permanently restricted net assets represent resources that have donor-imposed restrictions to be maintained in perpetuity. The Organization s permanently restricted net assets consist of the land value of a property restricted in perpetuity for the benefit of low-income persons. Use of Estimates - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures in the financial statements. Accordingly, actual results could differ from those estimates. Financial statement areas where management applies the use of estimates consist primarily of allowance for doubtful accounts and value of donated property and services. It is management s opinion that the estimates applied in the accompanying financial statements are reasonable. Cash and Cash Equivalents - Cash and cash equivalents include cash in banks and certain highly liquid investments with original maturities of 90 days or less. Investments - Other - The Organization s investments in certificates of deposit with maturities greater than 90 days are classified as Investments-Other on the statement of financial position. Grants, Contracts and Other Receivables, Net - Grants from federal, state and other sources are recognized as revenue when the related expenditures are incurred or revenue otherwise earned. The Organization has also entered into contract fee for service agreements with several governmental agencies. Additionally, the Organization enters into service agreements with clients in certain of its housing programs. Grants receivable represents unreimbursed expenses and contracts and other receivables represents contract fee receivables at June 30, 2013 and

11 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) The Organization conducts a periodic review of client receivables arising out of such agreements is performed periodically and specific accounts are written off after normal collection efforts have been exhausted. Management has determined that an allowance for doubtful accounts is not necessary as of June 30, 2013 and Other Assets - Other assets consist of security deposits on rental properties. Property, Buildings and Equipment - Property and equipment acquisitions and improvements thereon that exceed $1,000 are capitalized at cost and depreciated on a straight-line basis over their estimated useful lives. Repairs and maintenance are charged to expense as incurred. Governmental Grants - Governmental grant revenue is recognized to the extent that allowable expenditures have been incurred. Grant receipts in excess of expenditures are recognized as refundable advances. Contributions - Unconditional contributions are recognized when pledged or received, as applicable, and are considered to be available for unrestricted use unless specifically restricted by the donor. Contributions receivable expected to be collected in more than one year are discounted to their present value. The Organization and its affiliates report nongovernmental contributions and grants of cash and other assets as temporarily restricted support if they are received with donor stipulations that limit their use. When a donor restriction expires, that is, when a stipulated time restriction ends or purpose restriction is accomplished, temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities as net assets released from restrictions. Contributions received whose restrictions are met in the same period are presented with unrestricted net assets. Conditional promises to give are recognized when the conditions on which they depend are substantially met. Donated Property and Services - Donated services are recognized as contributions if the services create or enhance non-financial assets or require specialized skills, are performed by people with those skills and would otherwise be purchased by the Organization. Donated property and the use of equipment and facilities are recorded as support and expensed at fair market value when determinable, otherwise at values indicated by the donor. While many individuals volunteer their time and perform a variety of tasks that assist the Organization, most amounts have not been recognized in the accompanying financial statements for such services because the criteria for recognition of such volunteer efforts have not been met. Functional Expense Allocation - Expenses are charged directly to program services, development and fundraising, and management and general based on specific identification to the extent practicable. Expenses related to more than one function have been allocated based on periodic time and expense studies. Management and general expenses include those expenses that are not directly identifiable with a specific function, but provide for the overall support and direction of the Organization. -9-

12 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Compensated Absences - The Organization record accrued vacation pay based upon length of service as an expense in the period in which it is earned. Income Taxes - The Organization is exempt from federal and state income taxes as public charities under Section 501(c)(3) of the Internal Revenue Code. Their informational returns for the years ended June 30, 2010 through 2013 are subject to examination by the Internal Revenue Service and the State of Connecticut. Subsequent Events - In preparing these consolidated financial statements, management has evaluated subsequent events through December 3, 2013, which represents the date the consolidated financial statements were available to be issued. NOTE 3 - SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION During 2012, the Organization received contributions of stock valued at $5,494. NOTE 4 - CONCENTRATIONS The Organization s financial instruments that are exposed to concentrations of credit risk consist of cash and cash equivalents and grants receivable. Cash and Cash Equivalents - The Organization places its cash deposits with credit-quality institutions. Such deposits exceed federal depository insurance limits at various times during the year. However, management believes that the Organization s deposits are not subject to significant credit risk. Grants Receivable - Grants are supported by contracts and based on historical experience, represent negligible credit risk. Governmental Grants - The Organization receives a significant portion of its funding from federal and state grants. As with all grants, there is a risk that future grants will be reduced or eliminated. A significant reduction in grant revenue would have a large impact on the Organization s program services. NOTE 5 - BEQUESTS RECEIVABLE In April 2012, the Organization was informed that it was the beneficiary from two estates which were within the probate administration process, totaling $359,698. These were recorded as temporarily restricted contributions for the year ended June 30, As of June 30, 2013, there was $10,500 in bequests receivable related to these bequests. -10-

13 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 6 - PROPERTY, BUILDINGS AND EQUIPMENT, NET Property, buildings and equipment, net as of June 30, 2013 and 2012, consist of the following: Land $ 374,874 $ 374,874 Buildings and improvements 7,699,966 7,667,773 Leasehold improvements 107, ,826 Construction in progress 200,222 89,548 Furniture and equipment 733, ,855 Vehicles 70,606 72,690 9,186,812 8,999,566 Less accumulated depreciation 2,372,642 2,132,428 Property, Buildings and Equipment, Net $ 6,814,170 $ 6,867,138 NOTE 7 - LINE OF CREDIT The Organization has an available line of credit of $750,000 that expires March 31, The line bears interest at 4% above the LIBOR Advantage Rate and is secured by substantially all of the Organization s assets. There was no outstanding balance under this line of credit as of June 30, 2013 and

14 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 8 - NOTES PAYABLE Notes payable consists of the following at June 30, 2013 and 2012: Note payable to Citizens Bank, due October 2017, with monthly payments of $2,388, including interest at 4.99%, secured by certain real property. $ 290,319 $ 305,276 Note payable to The Greater New Haven Community Loan Fund, due June 2029, with interest of 0%, secured by certain real property. Any payments are deferred and this note is forgivable in June 2029 if the property remains as affordable housing during this period. 50,000 50,000 Note payable to U.S. Department of Housing and Urban Development, due May 2026, with interest at 0% and secured by certain real property. 80,000 80,000 Note payable to Citizens Bank, due November 2029, with monthly payments of $2,280, including interest at 4.75%, secured by certain real property. 314, ,066 Note payable to the Corporation for Supportive Housing, due August 2014, with interest at 0% until August 31, 2013 and 6% thereafter. It is secured by certain real property. 50,000 50,000 Note payable to the Corporation for Supportive Housing, due July 2015, with interest at 0% until July 31, 2014 and 6% thereafter. It is secured by certain real property. 50,000 - Total notes payable $ 834,463 $ 811,342 Future maturities of long-term debt at June 30, 2013 are as follows: Year Ending June 30, 2014 $ 29, , , , ,998 Thereafter 473,380 $ 834,

15 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 9 - LEASE COMMITMENTS Operating Leases - The Organization has entered into operating leases for housing for various programs. The Organization also has additional operating leases for various vehicles and office equipment. The terms of the operating leases expire at various times through December The Organization also operates an overflow shelter from November through April each year in a facility leased by the City of New Haven from a third party. The Organization pays on behalf of the City an amount in lieu of rent equal to the pro-rata share of total utility costs of the facility during this period. Rent and vehicle expenses for the years ended June 30, 2013 and 2012, amounted to $195,064 and $106,503, respectively. At June 30, 2013, minimum future rental payments under the operating leases were as follows: Year Ending June 30, 2014 $ 337, , , Total $ 387,921 NOTE 10 - DONATED PROPERTY AND SERVICES The Organization has recorded the estimated fair value of donated property and services as follows for the years ended June 30, 2013 and 2012: Included in revenue and support: Donated program space $ 15,938 $ 15,938 Donated food 91,245 86,900 Total Donated In-Kind Support $ 107,183 $ 102,838 Included in functional expenses: Facilities costs $ 15,938 $ 15,938 Food and supplies 91,245 86,900 Total Expenses $ 107,183 $ 102,

16 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 11 - TEMPORARILY RESTRICTED NET ASSETS Temporarily restricted net assets are available for the following purposes or time periods at June 30, 2013 and 2012: Purposes: Program $ 157,717 $ 143,435 Property, building and equipment 376, ,202 Time periods: Future period 22,378 - Bequests receivable 10, ,698 Total Temporarily Restricted Net Assets $ 566,656 $ 911,335 NOTE 12 - NET ASSETS RELEASED FROM RESTRICTIONS Net assets were released from restrictions by incurring expenses satisfying the following purpose restrictions for the years ended June 30, 2013 and 2012: Purposes: Property, building and equipment $ 110,090 $ 26,346 Programs 95,425 7,281 Time periods: Bequests receivable 349,198 - Total Net Assets Released from Restrictions $ 554,713 $ 33,627 NOTE 13 - DEFINED CONTRIBUTION RETIREMENT PLAN The Organization maintains a defined contribution retirement plan as defined under Section 401(a) of the Internal Revenue Code. All employees are eligible to participate after 90 days of service and 18 years of age. The Organization s annual contribution is equal to 5% of the eligible employees annual salary. In addition, the Organization has the option of making annual discretionary contributions. Employer contributions to the plan were $76,502 and $64,261 for 2013 and 2012, respectively. No discretionary contributions were made for June 30, 2013 and 2012, respectively. NOTE 14 - CONTINGENCIES The Organization receives funding in the form of state and federal grant programs. The use of grants is subject to further review by the granting agencies. Such reviews may result in the Organization having liabilities to the grantors. There are no known liabilities as a result of such reviews. -14-

17 29 South Main Street P.O. Box West Hartford, CT Tel Fax blumshapiro.com 2 Enterprise Drive P.O. Box 2488 Shelton, CT Tel Fax blumshapiro.com Independent Auditors Report on Supplementary Information To the Board of Directors Columbus House, Inc. We have audited the consolidated financial statements of Columbus House, Inc. and Subsidiary as of and for the years ended June 30, 2013 and 2012, and our report thereon dated December 3, 2013, which expressed an unqualified opinion on those financial statements, appears on pages 1 and 2. Our audits were conducted for the purpose of forming an opinion on the financial statements as a whole. The schedules of program service expenses are presented for purposes of additional analysis and are 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 financial statements. The information has been subjected to the auditing procedures applied in the audits of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the 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 financial statements as a whole. Shelton, Connecticut December 3, 2013 Blum, Shapiro & Company, P.C An Independent Member of Baker Tilly International

18 SCHEDULE OF PROGRAM SERVICES EXPENSES FOR THE YEAR ENDED JUNE 30, 2013 Supportive Community Homeless Shelter Housing Support Outreach Services Services Services Services Total Program Services Expenses Personnel costs $ 1,452,365 $ 1,196,141 $ 753,535 $ 268,492 $ 3,670,533 Subcontracts ,102 14, ,103 Direct housing assistance 33, , ,929 Occupancy 201,534 99,319 8,815 2, ,269 House and grounds supplies and services 143,871 49,298 2,597 1, ,013 Office expense 43,988 37,608 27,564 14, ,814 Food and supplies 160,461 9,810 9, ,831 Professional fees and contractual services 43,358 34,076 19,300 8, ,302 Consultants 32,664 5,942 38,400 4,862 81,868 Transportation and vehicle expense 15,070 46,174 73,681 13, ,923 Insurance 48,906 42,307 12,574 5, ,162 Client support 13,451 32,382 50,356 10, ,955 Promotion 4, ,074 Interest 10,388 7,095 5,179 1,502 24,164 Total Expenses Before Depreciation 2,204,603 1,984,584 1,487, ,200 6,022,940 Depreciation 110,061 81,720 10,486 2, ,922 Total $ 2,314,664 $ 2,066,304 $ 1,498,039 $ 348,855 $ 6,227,

19 SCHEDULE OF PROGRAM SERVICES EXPENSES FOR THE YEAR ENDED JUNE 30, 2012 Supportive Community Homeless Shelter Housing Support Outreach Services Services Services Services Total Program Services Expenses Personnel costs $ 1,316,072 $ 1,144,141 $ 572,001 $ 250,224 $ 3,282,438 Subcontracts - 393, , ,571 Direct housing assistance 25, , ,458 Occupancy 203,689 89,523 7,173 3, ,358 House and grounds supplies and services 104,771 44,191 1, ,197 Office expense 35,350 38,217 22,846 10, ,009 Food and supplies 180,253 17,377 10, ,932 Professional fees and contractual services 42,783 33,769 23,096 7, ,531 Consultants 20,000 9,920 8,400 43,747 82,067 Transportation and vehicle expense 17,292 47,445 79,659 15, ,114 Insurance 54,454 41,235 13,890 5, ,018 Client support 20,554 19,438 49,365 18, ,551 Promotion Interest 20,746 7,464 6,336 3,652 38,198 Total Expenses Before Depreciation 2,041,529 2,473,906 1,153, ,854 6,030,249 Depreciation 116,343 79,542 13,100 4, ,244 Total $ 2,157,872 $ 2,553,448 $ 1,167,060 $ 365,113 $ 6,243,