ANNUAL REPORT 2006 - MEDA
ANNUAL REPORT 2006 - MEDA
ANNUAL REPORT 2006 - MEDA
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ASSETS<br />
CURRENT ASSETS:<br />
Cash and cash equivalents<br />
Investments<br />
Investments held for loans and administration<br />
Contributions and grants receivable<br />
Accounts receivable, net of allowance<br />
of $300 in <strong>2006</strong> and $300 in 2005<br />
Interest receivable<br />
Prepaid expenses<br />
Total current assets<br />
Loans and interest receivable, net of allowance<br />
of $289,939 in <strong>2006</strong> and $258,830 in 2005<br />
Interfund receivable (payable)<br />
Property and equipment, net of accumulated depreciation<br />
of $363,721 in <strong>2006</strong> and $366,845 in 2005<br />
Total assets<br />
LIABILITIES AND NET ASSETS<br />
CURRENT LIABILITIES:<br />
Accounts payable<br />
Accrued expenses<br />
Deferred revenue<br />
Current portion of bonds payable<br />
Total current liabilities<br />
Due to state of Minnesota<br />
Bonds Payable<br />
Total liabilities<br />
NET ASSETS:<br />
UNRESTRICTED:<br />
Undesignated<br />
Board designated<br />
Temporarily restricted<br />
Total net assets<br />
Total liabilities and net assets<br />
UNRESTRICTED<br />
SUPPORT AND REVENUES:<br />
Contributions<br />
In-Kind Contributions<br />
Special events support<br />
Less: Direct Benefit to Donors<br />
State and other grant revenue<br />
Federal reimbursements<br />
Registrations<br />
Investment income<br />
Service fees<br />
Other<br />
Total support and revenues<br />
EXPENSES:<br />
Program Services<br />
Client service<br />
Uncollectible loan loss<br />
Supporting Services<br />
General and administrative<br />
Fundraising<br />
Total expenses<br />
CHANGE IN UNRESTRICTED NET ASSETS<br />
TEMPORARILY RESTRICTED<br />
SUPPORT AND REVENUES:<br />
Special events support<br />
CHANGE IN TEMPORARILY RESTRICTED NET ASSETS<br />
CHANGE IN NET ASSETS<br />
NET ASSETS, beginning of year<br />
NET ASSETS, end of year<br />
METROPOLITAN ECONOMIC DEVELOPMENT ASSOCIATION<br />
STATEMENT OF FINANCIAL POSITION<br />
Operating<br />
Fund<br />
$ 491,999<br />
710,855<br />
-<br />
107,764<br />
10,300<br />
6,685<br />
17,028<br />
1,344,631<br />
-<br />
95,891<br />
397,218<br />
$ 1,837,740<br />
$ 1,965<br />
29,687<br />
2,500<br />
24,000<br />
58,152<br />
-<br />
354,000<br />
412,152<br />
1,417,338<br />
-<br />
8,250<br />
1,425,588<br />
$ 1,837,740<br />
$ 769,902<br />
133,682<br />
419,749<br />
(89,046)<br />
155,000<br />
30,000<br />
55,533<br />
26,667<br />
73,262<br />
1,236<br />
1,575,985<br />
904,271<br />
-<br />
412,028<br />
225,536<br />
1,541,835<br />
34,150<br />
8,250<br />
8.250<br />
$ 42,400<br />
$ 1,383,188<br />
$1,425,588<br />
Financial Statements<br />
Loan<br />
Fund<br />
$ 121,128<br />
-<br />
811,329<br />
-<br />
12,689<br />
-<br />
945,146<br />
759,290<br />
(76,184)<br />
-<br />
$ 1,628,252<br />
$ -<br />
-<br />
-<br />
-<br />
-<br />
632,689<br />
-<br />
632,689<br />
-<br />
995,563<br />
-<br />
995,563<br />
$ 1,628,252<br />
DECEMBER 31, <strong>2006</strong> AND 2005<br />
STATEMENT OF ACTIVITIES<br />
FOR THE YEAR ENDED DECEMBER 31, <strong>2006</strong><br />
WITH COMPARATIVE TOTALS FOR DECEMBER 2005<br />
$ -<br />
-<br />
-<br />
-<br />
-<br />
-<br />
-<br />
154,752<br />
3,709<br />
-<br />
158,461<br />
80,294<br />
36,000<br />
-<br />
-<br />
116,294<br />
42,167<br />
-<br />
-<br />
42,167<br />
953,396<br />
995,563<br />
PTAC<br />
$ 137,371<br />
-<br />
-<br />
71,121<br />
2,445<br />
-<br />
10,259<br />
221,196<br />
-<br />
(19,707)<br />
-<br />
$ 201,489<br />
$ -<br />
8,475<br />
40<br />
-<br />
8,515<br />
-<br />
-<br />
8,515<br />
30,521<br />
162,453<br />
-<br />
192,974<br />
$ 201,489<br />
$ -<br />
91,101<br />
-<br />
-<br />
-<br />
469,866<br />
14,549<br />
-<br />
46,846<br />
2,143<br />
624,505<br />
607,794<br />
-<br />
-<br />
-<br />
607,794<br />
16,711<br />
-<br />
-<br />
-<br />
16,711<br />
176,263<br />
192,974<br />
Total<br />
<strong>2006</strong><br />
$ 750,498<br />
710,855<br />
811,329<br />
178,885<br />
12,745<br />
19,374<br />
27,287<br />
2,510,973<br />
759,290<br />
-<br />
397,218<br />
$ 3,667,481<br />
$ 1,965<br />
38,162<br />
2,540<br />
24,000<br />
66,667<br />
632,689<br />
354,000<br />
1,053,356<br />
1,447,859<br />
1,158,016<br />
8,250<br />
2,614,125<br />
$ 3,667,481<br />
$ 769,902<br />
224,783<br />
419,749<br />
(89,046)<br />
155,000<br />
499,866<br />
70,082<br />
181,419<br />
123,817<br />
3,379<br />
2,358,951<br />
1,592,359<br />
36,000<br />
412,028<br />
225,536<br />
2,265,923<br />
93,028<br />
8,250<br />
8,250<br />
101,278<br />
2,512,847<br />
2,614,125<br />
Total<br />
2005<br />
$ 701,730<br />
683,285<br />
868,395<br />
108,044<br />
6,759<br />
15,223<br />
28,703<br />
2,412,139<br />
808,339<br />
-<br />
395,916<br />
$ 3,616,394<br />
$ 6,363<br />
31,197<br />
362<br />
23,000<br />
60,922<br />
664,625<br />
378,000<br />
1,103,547<br />
1,413,709<br />
1,099,138<br />
-<br />
2,512,847<br />
$ 3,616,394<br />
$ 740,260<br />
179,339<br />
410,622<br />
(117,482)<br />
127,500<br />
535,054<br />
69,199<br />
126,451<br />
107,422<br />
2,639<br />
2,181,004<br />
1,617,159<br />
30,000<br />
318,677<br />
199,708<br />
2,165,544<br />
15,460<br />
-<br />
-<br />
-<br />
15,460<br />
2,497,387<br />
2,512,847<br />
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