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Statement of Activities 2002

STATEMENT OF ACTIVITIES

For the year ending December 31, 2002


OPERATING REVENUE, GAINS & OTHER SUPPORT
Contributions, membership gifts and grants received $ 1,010,829
Change in contributions receivable (144,201)
Events 249,008
Merchandise and other revenues 21,267
Investment income 239,747
Investment expense (46,348)

TOTAL OPERATING REVENUE, GAINS & OTHER SUPPORT $ 1,330,302

OPERATING EXPENSES
Program Services
     Resource preservation & protection $ 597,718
     Education and outreach 370,515
Total Program Services $ 968,233
Supporting Services
     Development, fundraising and membership $ 134,679
     Management and general 90,373
Total Supporting Services $ 225,052

TOTAL OPERATING EXPENSES $ 1,193,285

CHANGE IN NET ASSETS FROM OPERATIONS $ 137,017

NON-OPERATING INCOME (EXPENSE)
     Investment Loss $(2,070,017)
     Loss on Stock Sales (1,750)
Decrease in provision for uncollectible pledges (9,000)
NET NON-OPERATING INCOME $ (2,080,767)

TOTAL CHANGE IN NET ASSETS $(1,943,750)

NET ASSETS
     Beginning of year $ 13,745,972
     End of year $ 11,802,222

 

NOTES TO FINANCIAL STATEMENTS

Friends of Acadia is a nonprofit, tax exempt organization under Section 501(c)(3) of the Internal
RevenueCode,a publiclysupportedorganizationas definedbySection170(b)A-6. Contributions are
tax deductible to the extent provided by law. The five-year average of fundraising cost is 4.89%.

An independent auditor’s report is available upon request.

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1998 1999 2000 2001 2002 Total
TOTAL REVENUE $1,070,627 $8,815,755 $2,030,952 $1,595,933 $1,330,302 $14,843,569
FUNDRAISING EXPENSES 59,448 202,338 177,271 151,927 134,679 725,609
FUNDRAISING AS A % OF TOTAL REVENUE 5.55% 2.30% 8.73% 9.52% 10.12% 4.89%

 

All figures are derived from audited financials, not IRS Form 990.