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ManKind Project of Greater Washington Supplementary Report on Finances for the 2008 Financial Year Allies, MKP Greater Washington is committed to the being.

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Presentation on theme: "ManKind Project of Greater Washington Supplementary Report on Finances for the 2008 Financial Year Allies, MKP Greater Washington is committed to the being."— Presentation transcript:

1 ManKind Project of Greater Washington Supplementary Report on Finances for the 2008 Financial Year Allies, MKP Greater Washington is committed to the being excellent in managing its financial affairs, and to being transparent and communicative about those affairs. The following presentation is intended to be a supplement to the Balance Sheet and Statement of Activities of the MKP-GW organization. It is meant to further explain the meaning and implication of the numbers presented. It is meant educate those less familiar with financial reporting in how to make sense of the numbers. The presentation is interactive if you are reading as a PowerPoint slideshow on a computer, or just a plain document if you are reading it as a PDF or in printed form. The presentation uses a new form of presenting financial information called Color Accounting ®. Caution: this is a pro-forma, educational, presentation of the MKP-GW financial statements only. It should not be used as the authoritative representation of the organizations financial position. It is not audited. All questions about MKP-GW’s finances should be addressed to the MKP-GW Treasurer, Stuart Sorkin, or James Stamps, the Center Director. June 2008.

2 ManKind Project of Greater Washington Financial Story Up to and at December 31 st 2007 USE OF FUNDS Presentation forma t © CAI, 2008 SOURCE OF FUNDS The green side represents what we have used the funds on the right for… acquiring assets and incurring expenses. The yellow side represents where we got our funding to acquire the assets on the left (and who or what project has a claim on them. All financial reports tell the story of how an organization is funded… where the funds come from and what the funds were used for. “Funding” means not just cash, but also lines of credit and non-cash assets like money that is owed to the organization, like accounts receivable for unpaid ally dues. The following diagram and those that follow represent the story of MKP-GW’s funding visually using a graphical layout. The green and yellow sides add up to the same amount… like two sides of the same coin.

3 ManKind Project of Greater Washington Financial Story Up to and at December 31 st 2007 USE OF FUNDS Assets Liabilities “Net Assets” Expenses Income Presentation forma t © CAI, 2008 SOURCE OF FUNDS In this box are the valuable things that MKP-GW owned at December 31 st to use to serve our mission. Unlike expenses below, they still retain value. Funds from other people that have financed the assets and expenses. They are debts that at Dec 31 st we had still to pay back. Expenses are the resources we have used up to perform our mission, with no value remaining. It’s not the same as ‘cash paid out’. Income represents the value we have delivered. Our sales. It’s not the same as cash received. This section shows how much of the assets are left over after deducting the liabilities above. The amount of these ‘net assets’ is available for use in furthering our mission. Sometimes the people who provided the net asset funds placed additional restrictions on how the funds can be used. Statement of Activities Balance Sheet The difference between the bottom two Income and Expenses sections is a surplus or shortfall (like profit or loss). The effect is to change Net Assets that are available for use on our mission.

4 ManKind Project of Greater Washington Financial Story Up to and at December 31 st 2007 USE OF FUNDS Assets Liabilities Residual Claim on the Assets Expenses Income Presentation format © Accounting Comes Alive, 2008 Statement of Activities SOURCE OF FUNDS Bank Accounts &for deposit17,805 Restricted Investments57,385 Accounts receivable33,800 Total Assets108,990 Day-to-day cash available for use at Dec 31 st. We do not have this much cash today. Balance Sheet Not for day-to-day use. We can only use these investments for the specific purposes they were given to us.. This is how much we Allies collectively owed MKP GW. IE. Overdue dues. If MKP-GW doesn’t collect them they will become a bad debt expense. Owed for day-to-day activities3,815 Other funds payable - short term6,991 Total funds owed to other people Land project52,086 UMBC Research project4,505 Unrestricted earnings before ,596 Loss in ,603 Total claim on assets after liabilities98,584 NWTA Expenses67,187 Continuing training18,120 Specialty trainings7,691 Conferences & meetings6,649 Admin and accounting61,314 Bad debts8,981 Banking, Cards, deperciatn, other6,489 Total expenses176,431 NWTA Income85,824 Continuing training18,139 Specialty trainings9,744 Ally dues, scholarships, other39,585 Scholarship donations4,970 Other contributions9,139 Interest2,427 Total income169, Loss because expenses were higher than income: $169,828 income less $176,431 expenses $56,591 of our assets can only be used on these projects Available for general use. But most of it is tied up in the accounts receivable asset. The NWTA expense is less than the NWTA income of 85,824. But this ‘profit’ doesn’t take into account the admin and overhead expenses. If you count overheads, the NWTA’s made a loss. Some of this income hasn’t been received and is still owed to us. If we only counted cash received, total income would be much lower.

5 ManKind Project of Greater Washington Financial Story Up to and at December 31 st 2007 End of Presentation


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