13-6

Presented below are financial statements (except cash flows) for two not-for-profit organizations Neither organization has any permanently restricted net assets Statement of Activities ABC Not-for-Profit XYZ Not-for-Profit Temporarily Temporarily Unrestricted Restricted Unrestricted Restricted Revenues $5,595,000 $2,250,000 3,327,500 $750,000 3,200,000 Program service revenue 96,000 $1.025,000 Grant revenue Net gains on endowment 17,500 Net assets released from Satisfaction of program 450,000 (450,000) 377,000 (377,000) 396,000 5.827,000 648,000 Total revenues 9,390,000 Expenses expenses 5,621,000 Research program expense ,256,000 1559.000 2.256,000 Education program Total program service 6,877,000 456,000 650,000 3,815,000 356,000 1,229,000 expenses Fund-raising Total supporting service 1.106,000 7,983,000 1,585,000 5.400,000 expenses Total expenses Increase in net assets Net assets January1 1,407.000 .000 427,000 648,000 759,000 1,037,500 320,000 $5,615,000 $1.155,000 $1.464,500 $968.000 4.208,000 Net assets December 31