As of December 31, 2013, The Halifax Fishing Museum had unrestricted cash of $52,000, building and land with a net book value of $145,000, and permanently restricted collections totaling $ 105,000. There were no liabilities. The Museum has two programs: Operation of a Fishing Museum and Educational Programs. During the year ended December 31, 2014 the Museum incurred the following transactions:

Cash contributions to the Museum included (a) unrestricted $ 512,000, (b) restricted for educational programs $ 37,000 and (c) restricted by the donor for endowment purposes $100,000.

Additional unrestricted cash receipts included $ 29,000 in fees from individuals and organizations using the Museum building as a meeting facility.

Incurred cash expenses:

Item	Total Amount	Portion for Museum Operations	Portion for Education Programs	Admin.
Utilities programs	30,000	20,000	10,000
Utilities administration	15,000			15,000
Salaries - programs	170,500	150,000	20,500
Salaries administration	45,000			45,000
Supplies programs	96,000	90,000	6,000
Supplies administration	7,000			7,000
	363,500	260,000	36,500	67,000

Purchased land for future expansion to the adjoining lot in the amount of $ 35,000.

Depreciation on the Museum building amounted to $ 55,000 and is allocated on the basis of square feet: $ 40,000 to Museum operations, $ 5,000 to Education Programs, and $ 10,000 to administration.

Required: Prepare a Statement of Activities for the Museum for the year ended 12-31-2014.