P16 9 (Statement of Activities) Based on the following information, prepare a Statement of Activities for the year ended December 31, 20X6, for the Mark Meadows Foundation, a private, not for profit charity Contributions of $3,000,000 (including $250,000 of pledges not collected by year end) were received from donors during the year without restriction Contributions of $1,000,000 restricted for public presentations for education purposes were received in cash during the year The foundation received gifts of $10 million to establish a permanent endowment to be used to generate resources for the foundations community service programs Income restricted for specific community service programs was earned on the permanent endowment, $320,000 Computers were purchased from unrestricted resources, $72,000 Donor restricted resources were not available for this purpose A fund raising banquet was held Revenues (unrestricted) were $290,500, and direct costs of the banquet totaled $97,500 Contributions of $1,500,000 were received These contributions are restricted for building an activity center for the foundation Membership dues, for which members receive no benefits, total $75,000 Unrestricted investment income earned totaled $83,400 Expenses incurred for mailings, brochures, and other items for the purpose of soliciting donations totaled $95,000 Administrative costs incurred during the year totaled $253,000 Community service program expenses payable from restricted gifts totaled $220,000 Other expenses for community service programs totaled $2,110,000 Expenses for the foundations education programs totaled $200,000, and expenses for its public presentations program were $555,000 Costs incurred on the construction of the activity center totaled $922,000 Unrestricted pledges made by contributors in the prior year but collected in the current year totaled $135,000 Net assets without donor restrictions, January 1, 20X6, were $1,400,000 Net assets with donor restrictions, January 1, 20X6, were $303,000 The foundation reports restricted gifts and income as increases in net assets with donor restrictions even if the restriction is satisfied in the year the gifts or income are initially recorded

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P16-9 (Statement of Activities) Based on the following information, prepare a Statement of Activities for the year ended December 31, 20X6, for the Mark Meadows

P16-9 (Statement of Activities) Based on the following information, prepare a Statement of Activities for the year ended December 31, 20X6, for the Mark Meadows Foundation, a private, not-for-profit charity.

Contributions of $3,000,000 (including $250,000 of pledges not collected by year end) were received from donors during the year without restriction.
Contributions of $1,000,000 restricted for public presentations for education purposes were received in cash during the year.
The foundation received gifts of $10 million to establish a permanent endowment to be used to generate resources for the foundations community service programs.
Income restricted for specific community service programs was earned on the permanent endowment, $320,000.
Computers were purchased from unrestricted resources, $72,000. Donor-restricted resources were not available for this purpose.
A fund-raising banquet was held. Revenues (unrestricted) were $290,500, and direct costs of the banquet totaled $97,500.
Contributions of $1,500,000 were received. These contributions are restricted for building an activity center for the foundation.
Membership dues, for which members receive no benefits, total $75,000.
Unrestricted investment income earned totaled $83,400.
Expenses incurred for mailings, brochures, and other items for the purpose of soliciting donations totaled $95,000.
Administrative costs incurred during the year totaled $253,000.
Community service program expenses payable from restricted gifts totaled $220,000. Other expenses for community service programs totaled $2,110,000. Expenses for the foundations education programs totaled $200,000, and expenses for its public presentations program were $555,000.
Costs incurred on the construction of the activity center totaled $922,000.
Unrestricted pledges made by contributors in the prior year but collected in the current year totaled $135,000.
Net assets without donor restrictions, January 1, 20X6, were $1,400,000.
Net assets with donor restrictions, January 1, 20X6, were $303,000.
The foundation reports restricted gifts and income as increases in net assets with donor restrictions even if the restriction is satisfied in the year the gifts or income are initially recorded.