|
Statements of Financial Position
| Assets |
December 31 |
| 2005 |
2004 |
| Current Assets: |
|
|
| Cash and cash equivalents |
$804,646 |
$454,854 |
| Accounts receivable, net of allowance for doubtful accounts of $2,750 in 2005 and 2004 |
30,879 |
46,256 |
| Current portion of contributions receivable |
99,986 |
56,435 |
| Grants receivable |
210,962 |
262,783 |
| Prepaid expenses |
3,951 |
3,104 |
| Inventories |
6,332 |
9,405 |
| Total current assets |
1,156,756 |
932,837 |
| |
|
|
| Equipment and furniture |
307,149 |
307,149 |
| Less accumulated depreciation |
(303,551) |
(299,250) |
| Net equipment and furniture |
3,598 |
7,899 |
| Contributions receivable, net of current portion |
– |
68,551 |
| Other |
3,332 |
3,332 |
| Total assets |
$1,163,686 |
$1,012,619 |
| |
|
|
| Liabilities and net assets |
|
|
| Current liabilities: |
$125,802 |
$86,774 |
| Accounts payable |
59,573 |
47,878 |
| Accrued expenses |
81,438 |
94,059 |
| Current portion of deferred membership revenues |
266,813 |
228,711 |
| Total durrent liabilities |
43,109 |
63,364 |
| Net assets: |
309,922 |
292,075 |
| Unrestricted |
785,212 |
489,654 |
| Temporarily restricted |
68,552 |
230,890 |
| Total net assets |
853,764 |
720,544 |
| Total liabilities and net assets |
$1,163,686 |
$1,012,619 |
Statements of Cash Flows
| |
Year Ended December 31 |
| 2005 |
2004 |
| Cash flows from operating activities |
|
|
| Change in net assets |
$133,220 |
$387,073 |
| Adjustments to reconcile change in net assets to net cash provided by operating activity: |
|
|
| Depreciation |
4,301 |
24,175 |
| Changes in operating assets and liabilities: |
|
|
| Receivables |
192,198 |
(224,208) |
| Other assets |
2,226 |
1 ,387 |
| Accounts payable and accrued expenses |
50,723 |
62,066 |
| Deferred membership revenue |
(32,876) |
28,308 |
| Net cash provided by operating activities |
349,792 |
278,80 |
| |
|
|
| Cash and cash equivalents at beginning of year |
454,854 |
76,053 |
| Cash and cash equivalents at end of year |
$ 804,646 |
$454,854 |
These statements of financial position of the Amputee Coalition of America were audited by Coulter & Justus, P.C., of Knoxville, Tennessee, and, in their opinion, the financial statements referred to here present fairly, in all material respects, the financial position of the Amputee Coalition of America as of December 31, 2005 and 2004, and its activities and cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States of America.
Copies of the full audit report are available upon request from the Amputee Coalition of America.
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