Turning Point Services ( TPS ) was established on January 2 , 2017 to provide training programs for* those in career transition . TPS is a private not- for - profit organization . The following events occur in 2017 : 1 . $ 1, 000, 000 was received in government funding , in the form of grants . Of this total , $ 600 , 000 was designated by the government for constructing a building , $200 ,000 was designated to be used to set up computer training programs , and the rest was unrestricted . 2 . TPS received $ 200 , 000 in cash contributions and $ 130 , 000 in documented pledges to be received in 2018 . All contributions are undesignated . 3. Expenses for the year were as follows General Training* Services Programs Fundraising Salaries $ 40, 000 $ 50, 000 $ 20, 000 Supplies 30, 000 75, 000 10 , 000 Utilities 30, 000 25, 000 5, 000 Travel 15. 000 Total $ 100, 000 $150 , 000 $50, 000 All of the above expenses were paid in cash , except for $ 25 , 000 still owed to suppliers . Of the $150, 000 in expenses for training programs , $ 78 ,000 was financed by the government grant described in Item 1 above . 4 . Services were donated as follows ( fair values of services provided are shown in parenthesis ) : Audit by local CPA ( $ 5 , 000 )| High school students distributed fliers to the public ( $2 , 000 ) Contractor drafted plans for the building ( $15 , 000 ) Required Prepare a 2017 statement of activities for Turning Point Services . TURNING POINT SERVICES Statement of Activities For the Year Ended December 31 , 2017 Unrestricted Temporarily Restricted Net Assets Net Assets Revenues , gains , and other support : Donated Net assets released from program restrictions Total Expenses Total Change in net assets Beginning net assets Ending net assets $193, 000 $852, 000