C RATI - FAAO
C RATI - FAAO
C RATI - FAAO
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STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS<br />
for the year ended March 31, 2005 ( with comparative information as of March 31, 2004)<br />
Temporarily Permanently 2005 2004<br />
Unrestricted Restricted Restricted Total Total<br />
REVENUES AND SUPPORT:<br />
Contributions, grants, sponsorships and other:<br />
Public Service $ - $ 1,298,937 $ - $ 1,298,937 $ 1,668,920<br />
Museum of Vision - 32,333 1,000,000 1,032,333 28,130<br />
International Assistance - 43,206 - 43,206 75,790<br />
Ophthalmic Education - 91,565 - 91,565 188,399<br />
Building Management 1,998,666 - - 1,998,666 161,000<br />
Other 333,162 999,801 - 1,332,963 512,254<br />
Contribution from AAO 1,394,838 - - 1,394,838 1,000,000<br />
Total Revenue 3,726,666 2,465,842 1,000,000 7,192,508 3,634,493<br />
NET ASSETS RELEASED FROM RESTRICTIONS 2,389,866 (2,389,866) - - -<br />
EXPENSES:<br />
Public Service 1,177,846 - - 1,177,846 1,082,621<br />
Museum of Vision 140,595 - - 140,595 184,522<br />
International Assistance 327,582 - - 327,582 365,101<br />
Ophthalmic Education 839,278 - - 839,278 519,184<br />
Resource Development 584,573 - - 584,573 529,876<br />
Building Management & Corporate Services 2,672,804 - - 2,672,804 193,177<br />
Administration & Other 320,390 - - 320,390 354,445<br />
Total Expenses 6,063,068 - - 6,063,068 3,228,926<br />
INCREASE (DECREASE) IN NET ASSETS<br />
BEFORE INVESTMENTS 53,464 75,976 1,000,000 1,129,440 405,567<br />
INTEREST, DIVIDENDS, REALIZED AND UNREALIZED GAINS<br />
NET OF MANAGEMENT FEES 1,235,845 268,787 - 1,504,632 1,188,392<br />
INCREASE (DECREASE) IN NET ASSETS 1,289,309 344,763 1,000,000 2,634,072 1,593,959<br />
TRANSFER FROM ACADEMY 5,000,000 - - 5,000,000 22,848,354<br />
NET ASSETS, BEGINNING OF PERIOD 23,364,175 3,231,062 4,166,971 30,762,208 6,319,895<br />
NET ASSETS, END OF PERIOD $ 29,653,485 $ 3,575,825 $ 5,166,971 $ 38,396,280 $ 30,762,208<br />
PURPOSES OF NET ASSET BALANCES<br />
as of March 31, 2005<br />
Temporarily Permanently<br />
Unrestricted Restricted Restricted<br />
Unrestricted $ 28,510,434<br />
Board Designated:<br />
Straatsma Award for Excellence in Residency Education 54,837<br />
Charles D. Kelman, MD Cataract Education Fund 1,088,214<br />
Total Unrestricted Funds $ 29,653,485<br />
Public Service $ 2,073,917<br />
International Assistance 180,683<br />
Ophthalmic Education 1,192,939<br />
All Other 128,286<br />
Total Temporarily Restricted Funds $ 3,575,825<br />
Education Trust Fund Corpus $ 2,966,971<br />
Retina Research Foundation 1,000,000<br />
Straatsma Award for Excellence in Residency Education 150,000<br />
Stanley M. Truhlsen, MD Endowed Fund 1,000,000<br />
Whitney Sampson Education Fund 25,000<br />
Rosenthal Endowment Fund 25,000<br />
Total Permanently Restricted Funds $ 5,166,971
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