Financial Information
STATEMENTS OF FINANCIAL POSITION
December 31, 2008
| ASSETS | |
| Current assets | |
| Cash & cash equivalents | $ 4,624,444 |
| Contributions receivable | 180,030 |
| Investments | 42,752,299 |
| Prepaid expenses | 18,529 |
| Split interest agreements | 605,051 |
| Cash surrender value of life insurance | 147,653 |
| Deposits | 10,125 |
| Property and equipment. Net | 63,580 |
| Total current assets | $ 48,401,711 |
| LIABILITIES AND NET ASSETS | |
| Current liabilities | |
| Accounts payable and accrued expenses | $ 14,933 |
| Grants payable | 141 |
| Deferred rent | 60,297 |
| Funds held for others | 6,357,409 |
| Total Liabilities | $ 6,432,780 |
| Net assets | |
| Unrestricted | |
| Board designated long-term grant funds | 23,464,781 |
| Other grant funds | 16,387,405 |
| Operating funds | 1,511,694 |
| Total unrestricted net assets | 41,363,880 |
| Temporarily restricted | 605,051 |
| Total net assets | $ 41,968,931 |
| TOTAL LIABILITIES AND NET ASSETS | $ 48,401,711 |
| Statement of Activities & Changes in Net Assets for the year ended December 31, 2008 | |
| Support and Revenues | Total |
| Contributions | $ 3,499,752 |
| Investment income | (10,463,604) |
| Other income | 32,817 |
| Change in value of split interest agreements | (225,307) |
| Total support and revenues | $(7,156,342) |
| Allocation and Expenses | |
| Grants and special projects | $ 3,267,449 |
| Management and general | 305,347 |
| Fundraising | 98,335 |
| Total expenses | 3,671,131 |
| Change in net assets | (10,827,473) |
| Net assets, beginning of year | 52,796,404 |
| Net assets, end of year | $ 41,968,931 |
Our latest 990 tax return and a complete audited financial statement with accompanying notes and report of WithumSmith+Brown, Certified Public Accountants, is available for inspection at the Princeton Area Community Foundation office or online here.