INVOLVE was incorporated as a not-for-profit voluntary health and welfare organization on January 1, 2017 During the fiscal year ended December 31, 2017, the following transactions occurred. 1. A busliness donated rent-free office space to the organization that would normally rent for $35,800 a 2. A fund drive ralsed $189,000 In cash and $108,000 In pledges that will be pald within one year. A state ear government grant of $158,000 was recelved for program operating cost related to public health education. 3. Salaries and fringe benefits paid during the year amounted to $209,360. At year-end, an additional 4. A donor pledged $108,000 for construction of a new bullding, payable over five fiscal years, 5. Office equipment was purchased for $12,800. The useful lfe of the equlpment Is estimated to be 5 $16,800 of salaries and fringe benefits were accrued. commencing In 2019. The discounted value of the pledge is expected to be $95,060. years. Office furniture with a fair value of $10,400 was donated by a local office supply company. The furniture has an estimated useful llfe of 10 years. Furniture and equipment are considered unrestricted net assets by INVOLVE. 6. Telephone expense for the year was $6,000, printing and postage expense was $12,800 for the year utilities for the year were $9,100 and supplies expense was $5,100 for the year. At year-end, an Immaterial amount of supplies remalned on hand and the balance In accounts payable was $4,400 7. Volunteers contributed $15,800 of time to help with answering the phones, malling materials, and 8. 9. varlous other clerical activities. It is estimated that 90 percent of the pledges made for the 2018 year will be collected. Depreclation expense is recorded for the full year on the assets recorded in item 5 Salarles and wages, and other expenses (except for the provision for uncollectible accounts which Is allocated 100 percent to fund-ralsing) were allocated to program services and support services In the following percentages: public health education, 35 percent community service, 30 percent management and general, 20 percent, and fund-ralsing, 15 percent. 10. Net assets were released to reflect satisfaction of state grant requlrements that the grant resources be used for public health education program purposes. 11 All nominal accounts were closed to the approprlate net asset accounts