29.12.2012 Views

ANNUAL REPORT 2006 - MEDA

ANNUAL REPORT 2006 - MEDA

ANNUAL REPORT 2006 - MEDA

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

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 />

25

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!