Analyze the financial statements (Form 990 and if possible, the audited financial statements) to determine the fiscal health of the organization. Utilize techniques learned in this class as well as other methods deemed appropriate ). III. Provide a summary analysis of the overall state of the organization, including a discussion as to the limitations, if any, of the financial statement analysis approach to assessing the ability of the organization to efficiently allocate resources and deliver on their tax exempt mission. Include the following financial information for your organization:

Calculate the following ratios for the years your project covers: 1) The Ratio of Program Expenses to Total Expenses 2) The ratio of fundraising expenses to contribution revenue (cost of fundraising).** 3) Defensive Interval 4) Liquid Funds Amount 5) Debt to Assets 6) Debt to Net Assets 7) Savings Indicator Additional ratios you may wish to calculate are: the Current Ratio, and Liquid Funds Indicator (note starting in 2019 the Form 990 does not report permanently restricted net assets separate from temporarily restricted net assets and therefore the Liquid Funds Indicator should be interpreted with caution). **The efficiency ratios are reported by the rating agencies and often by popular media. However, as we have discussed in class, caution should be exercised when interpreting these financial ratios. Additional information that can be discussed (when applicable): The concentration of income sources (ex: does all the revenue come from one source (government grants, direct public support, etc.)? Is there any mention of a qualified opinion, adverse opinion, going concern, etc. in the auditor's report? Is there anything interesting to discuss in the notes to the financial statements (lawsuits, substantial risk concentrations, related party transactions, etc.?).

Note: If your organization does not have information for one of the above ratios (ex: the organization does not report or engage in fundraising) then note this fact in the project and do not compute the ratio.

Finances and Accountability - Special Olympics Illinois (soill.org)

year year year Prior year vear Cash 924,675 774,935 708,386 3,165,531 2,684,965 Investments 2,678,768 2,694,634 2,654,688 3,130,584 3,607,740 Receivables 368,390 374,879 1,773,414 520,236 593,783 Total Current Assets 1,441,932 1,567,854 2,661,376 4,132,892 4,181,813 Net Fixed Assets 2,702,957 2,763,614 2,700,905 2,593,937 2,310,279 Total Assets 6,824,657 7,026,102 8,016,969 9,626,829 9,392,092 Total Current Liabilities 1,311,473 1,311,425 1,425,434 2,063,653 609,057 Mortgages/Notes Payable 787,348 708,724 839,907 462,345 369,115 Total liabilities 1,311,473 1,311,425 1,425,434 2,063,653 609,057 Total Unrestricted Net Assets 5,472,482 5,708,424 6,557,009 7,563,176 8,742,458 Total Permanently Restricted Net Asset 40,702 6,253 34,526 40,577 Total Net Assets 5,513,184 5,714,677 6,591,535 7,563,176 8,783,035 Depreciation Expense 245,337 282,977 301,314 329,572 335,792 Total Revenue 9,140,317 9,716,768 11,181,043 12,659,598 9,267,041 Total Expenses 9,099,879 9,727,839 9,638,529 12,165,786 8,570,147 Surplus/(Deficit) 40,438 (11,071) 1,542,514 493,812 696,894Current Ratio 1.1 1.2 1.87 2 6.87 Defensive Interval 5.38 4.88 6.6 6.91 10.04 Liquid Funds Indicator 3.65 3.63 4.80 4.90 9.01 Liquid Funds Amount 3,556,873 3,653,534 4,696,011 5,431,584 6,801,294 Debt to Asset Ratio 19.2% 18.7% 17.8% 21.4% 6.5% Debt to Net Asset Ratio 24.0% 23.0% 21.7% 27.3% 7.0% Savings Indicator 0.4% -0.1% 13.8% 3.9% 7.5%