7 Use the following information to create a budget for KidzPerform, Inc., a small nonprofit.

Last year Income Information:

Individual Donations $2000 (expected to increase 5%)

Pledges:$500 received out of $600 pledged

Fundraising events (2) $100,000 (expected to add one event)

Grants: Second year of a 3-year grant $10,000

Applying for another grant$10,000

Last year Expenditures:

Director salary and benefits$30,000

Voice lessons20,000

Performance costumes50,000

Refreshments at events10,000

Performance conductors2,000 per event

Advertising5,200

Invitations, mailings, postage 2,000

Utilities 1,200

Office space valued at $500 per month is donated

Performance Venues valued at $1,000 per event is donated