EDC Financials
Statement of Financial Position
ASSETS
Current Assets
- Cash and cash equivalents $1,189,891
- Grants and contracts receivable, net $454,451
- Memberships receivable, net $75,540
- Investments $107,287
- Prepaid expenses $33,807
- Total current assets $1,860,976
Other Assets
- Deposits $1,850
- Advances to EDC Foundation $3,239
- Property and Equipment, Net $119,148
Totals$1,985,213
LIABILITIES AND NET ASSETS
Current Liabilities
- Accounts payable and accrued expenses $108,919
- Deferred income $455,672
- Accrued compensated absences $35,974
- Total current liabilities $600,565
Net Assets
- Unrestricted $1,358,453
- Undesignated $26,195
- Contributed capital $1,384,648
- Total net assets $1,985,213
Statement of Cash Flows
Cash Flows from Operating Activities
- Increase in unrestricted net assets $137,181
- Adjustments to reconcile increase in unrestricted net assets to net cash provided by operating activities:
- Depreciation $16,262
- Bad debt expense $40,500
- Changes in operating assets and liabilities:
Increase In:
- Receivables and other assets ($511,567)
- Increase In:
- Accounts payable and other liabilites $475,389
- Net cash provided by operating activities $157,744
Cash Flows from Investing Activities
- Purchases of Investments ($107,287)
- Proceeds from maturities of investments $103,556
- Contributed capital ($45,594)
- Net cash used in investing activities ($49,325)
- Contributed capital $108,419
- Cash and Cash Equivalents, Beginning of Year $1,081,472
- Cash and Cash Equivalients, End of Year $1,189,891
- Supplemental Cash Flow Disclosures
- Cash payments during the year for:
- Interest $5,166
- Non-cash financing and investing activities:
- Property and equipment contributed by grant $26,195
- Depreciation on property and equipment contributed by grant $3,969
- Property and equipment contributed by grant $26,195
- Cash payments during the year for: