Presented below are financial statements (except cash flows) for two not-for-profit organizations. Neither organization has any permanently restricted net assets. XYZ Not-for-Profit Statement of Activities Revenues Program service revenue Contribution revenues Grant revenue Net gains on endowment investments Net assets released from restriction Satisfaction of program restrictions Total revenues Expenses Education program expenses Research program expense Total program service expenses Fund-raising Administration Total supporting service expenses Total expenses Increase in net assets Net assets January 1 Net assets December 31 ABC Not-for-Profit Unrestricted $ 7,195,000 3,487,500 Temporarily Restricted Unrestricted Temporarily Restricted $ 766,000 $2,410,000 3,360,000 112,000 $1,041,000 19,100 482,000 11,183,600 (482,000) 396,000 857,000 6,627,000 (857,000) 184,000 7,221,000 1,272,000 8,493,000 616,000 666,000 1,575,000 3,056,000 4,631,000 436,000 1,245,000 1,282,000 1,681,000 9,775,000 6,312,000 1,408,600 4,224,000 $ 5,632,600 396,000 775,000 $1,171,000 315,000 1,053,500 $1,368,500 Statement of Net Assets Current assets Cashi Short-term cash equivalents Supplies inventories Receivables Total current assets Noncurrent assets Noncurrent pledges receivable. Endowment investments Land, buildings, and equipment (net) Total noncurrent assets Total assets Current liabilities Accounts payables Total current liabilities Noncurrent liabilities Notes payable Total noncurrent liabilities Total liabilities Net Assets ABC Not-for-Profit $ 221,000 281,000 48,000 455,500 1,005,500 281,000 2,750,000 3,191,000 6,222,000 $7,227,500 $ 39,000 39,000 194,500 194,500 233,500 AA4 A XYZ Not-for-Profit $ 372,000 100,600 166,000 204,500 843,100 1,784,000 1,784,000 $2,627,100 $ 145,000 145,000 145,000 184,000 336,000 $520,000 < Prev 2 of 3 www