2008 Audit
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Financial Statements and Report of Independent Certified Public Accountants Make-A-Wish Foundation of Greater Pennsylvania and Southern West Virginia August 31, 2008 and 2007 TABLE OF CONTENTS Page Report of Independent Certified Public Accountants 2 Statements of Financial Position 3 Activities 4 – 5 Statements of Functional Expenses 6 – 7 Cash Flows 8 Notes to Financial Statements 9 - 17 2 Make-A-Wish Foundation of Greater Pennsylvania and Southern West Virginia STATEMENTS OF FINANCIAL POSITION August 31, 2008 and 2007 ASSETS 2008 2007 Cash and cash equivalents $ 554,872 $ 696,903 Investments 4,681,217 4,535,637 Unconditional promises to give 504,241 561,193 Due from National Organization 32,782 20,022 Product inventories 23,519 34,240 Prepaid expenses 179,974 147,697 Cash and cash equivalents restricted for long-term purposes 228,000 266,353 Office furniture and equipment, net 153,953 143,730 Total Assets $ 6,358,558 $ 6,405,775 LIABILITIES AND NET ASSETS Accounts payable $ 231,126 $ 248,535 Accrued expenses 154,802 140,579 Accrued pending wish costs 1,278,317 1,226,177 Deferred revenue 18,676 10,244 Total liabilities 1,682,921 1,625,535 ...
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Financial Statements and Report of Independent Certified Public Accountants Make-A-Wish Foundation of Greater Pennsylvania and Southern West Virginia August 31, 2008 and 2007
TABLE OF CONTENTS
Report of Independent Certified Public Accountants Statements of Financial Position Statements of Activities Statements of Functional Expenses Statements of Cash Flows Notes to Financial Statements
2
Page 2 3 4 5 6 7 8 9 - 17
Make-A-Wish Foundation of Greater Pennsylvania and Southern West Virginia STATEMENTS OF FINANCIAL POSITION August 31, 2008 and 2007 ASSETS
Cash and cash equivalents Investments Unconditional promises to give Due from National Organization Product inventories Prepaid expenses Cash and cash equivalents restricted for long-term purposes Office furniture and equipment, net Total Assets
2008 $ 554,872 4,681,217 504,241 32,782 23,519 179,974 228,000 153,953 $ 6,358,558
$ 231,126 154,802 1,278,317 18,676 1,682,921 -
LIABILITIES AND NET ASSETS Accounts payable Accrued expenses Accrued pending wish costs Deferred revenue Total liabilities Commitments and contingencies Net assets: Unrestricted 952,147 Temporarily restricted 1,544,189 Permanently restricted 2,179,301 Total net assets 4,675,637 Total Liabilities and Net Assets $ 6,358,558 The accompanying notes to financial statements are an integral part of this statement.
4
2007 $ 696,903 4,535,637 561,193 20,022 34,240 147,697 266,353 143,730 $ 6,405,775
$ 248,535 140,579 1,226,177 10,244 1,625,535 -
1,017,405 1,590,442 2,172,393 4,780,240 $ 6,405,775
Make-A-Wish Foundation of Greater Pennsylvania and Southern West Virginia STATEMENTS OF ACTIVITIES For the year ended August 31, 2008 (with comparative totals for 2007) Temporarily Permanently TOTAL TOTAL Unrestricted Restricted Restricted 2008 2007 REVENUES AND OTHER SUPPORT: Direct public support $ 1,222,853 $1,925,864 $ 11,480 $ 3,160,197 $ 2,915,601 Corporate gifts 372,916 136,327 - 509,243 469,252 Planned gifts 358,344 44,200 - 402,544 96,591 In-kind gifts 113,290 1,697,193 - 1,810,483 1,704,959 Grants 206,450 317,573 - 524,023 504,292 Internal special events 220,186 257,510 32,321 510,017 488,970 Less cost of direct benefit to donor (45,574) (93,253) - (138,827) (121,034) 174,612 164,257 32,321 371,190 367,936 External special events 577,594 91,253 422,331 18,550 532,134 Other income 9,480 - - 9,480 8,587 Net assets rel ased from restrictions e 4,730,245 (4,730,245) - - - Investm ent return, net 35,037 9,681 - 44,718 448,482 Total Revenues and Other Support 7,314,480 (12,819) 62,351 7,364,012 7,093,294 EXPENSES: Program Services: Wish granting and program related support 6,466,514 - 6,466,514 5,868,826 - Total Program Services 6,466,514 - - 6,466,514 5,868,826 Support Services: Fund raising 722,822 722,822 730,413 - - Management and general 339,213 - - 339,213 353,834 Total Support Services 1,062,035 - - 1,062,035 1,084,247 Total Expenses 7,528,549 - - 7,528,549 6,953,073 INCREASE (DECREASE) IN NET ASSETS (214,069) (12,819) 62,351 (164,537) 140,221 Net assets, beginning of year 1,017,405 1,590,442 2,172,393 4,780,240 4,640,019 Transfer of Northeast Pennsylvania net assets (Note A) 59,934 - - 59,934 - Transfer of net assets 88,877 (33,434) (55,443) - -Net assets, end of year $ 952,147 $ 1,544,189 $ 2,179,301 $ 4,675,637 $ 4,780,240 The accompanying notes to financial statements are an integral part of this statement. 5
Net assets, end of year
(536,437) 1,553,842 -
INCREASE (DECREASE) IN NET ASSETS Net assets, beginning of year Transfer of net assets
655,079 935,363 -
$ 1,017,405
$ 2,172,393
$ 1,590,442
etemtn .metes ntalcita sgetn lar erai na
730,413 353,834
1,084,247
5,868,826
- -
6,953,073
5,868,826
655,079
Unrestricted $ 1,120,500 336,939 96,591 201,979 118,742 259,079 (26,223) 232,856 92,371 8,587 4,151,635 56,436
Make-A-Wish Foundation of Greater Pennsylvania and Southern West Virginia STATEMENT OF ACTIVITIES For the year ended August 31, 2007 Temporarily Restricted $ 1,787,488 122,313 - 1,502,980 385,550 229,891 (94,811) 135,080 481,257 - (4,151,635) 392,046
140,221 4,640,019 -
$ 4,780,240
21,579 2,150,814 -
Total Expenses
Total Support Services
Total Program Services Support Services: Fund raising Management and general
Total Revenues and Other Support EXPENSES: Program Services: Wish granting and program related support
REVENUES AND OTHER SUPPORT: Direct public support Corporate gifts Planned gifts In-kind gifts Grants Internal special events Less cost of direct benefit to donor External special events Other income Net assets released from restrictions Investment return, net
21,579
Permanently Restricted $ 7,613 10,000 - -- - -- 3,966 - - -
6,416,636
-
-
-
-
5,868,826
5,868,826
TOTAL 2007 $ 2,915,601 469,252 96,591 1,704,959 504,292 488,970 (121,034) 367,936 577,594 8,587 - 448,482
7,093,294
-
-
-
-
1,084,247
730,413 353,834
--
6,953,073
6 
TOTAL 2008 $ 4,730,245 1,924,414 183,168 36,653 65,669 64,866 29,696 214,589 37,720 21,749 57,323 61,728 65,456 35,273 $ 7,528,549
Support Services Management Fund and raising general $ - $ - 481,104 250,121 38,511 23,812 8,010 4,007 16,121 10,039 29,131 2,189 15,144 6,742 32,188 19,313 8,715 4,910 9,415 3,621 12,914 8,001 - - 55,496 3,385 16,073 3,073 $ $ 722,822 339,213
TOTAL 2007 $ 4,151,635 1,830,738 216,861 42,385 57,341 58,950 41,538 181,563 40,572 29,418 52,071 121,585 83,909 44,507 $ 6,953,073
Make-A-Wish Foundation of Greater Pennsylvania and Southern West Virginia STATEMENTS OF FUNCTIONAL EXPENSES For the year ended August 31, 2008 (with comparative totals for 2007)
.
Program Services Wish granting and program related support $ 4,730,245 1,193,189 120,845 24,636 39,509 33,546 7,810 163,088 24,095 8,713 36,408 61,728 6,575 16,127 $ 6,466,514
Direct costs of wishes Salaries, payroll taxes, and benefits Rent and utilities Telephone Office supplies Postage and delivery Professional fees National assessment Repair and maintenance Meetings and conferences Depreciation and amortization Volunteer and outreach expenses Printing Miscellaneous
atementsthese st 7 
Make-A-Wish Foundation of Greater Pennsylvania and Southern West Virginia STATEMENT OF FUNCTIONAL EXPENSES For the year ended August 31, 2007 Program Services Support Services Wish granting Management and program Fund and related support raising general $ 4,151,635 $ - $ - 1,115,640 462,539 252,559 142,662 45,528 28,671 27,638 9,456 5,291 32,675 15,729 8,937 25,515 30,712 2,723 16,021 15,738 9,779 137,988 27,234 16,341 25,597 9,357 5,618 11,437 13,891 4,090 32,474 11,925 7,672 121,585 - - 7,098 69,534 7,277 20,861 18,770 4,876 $ 5,868,826 $ 730,413 $ 353,834
. nt
TOTAL 2007 $ 4,151,635 1,830,738 216,861 42,385 57,341 58,950 41,538 181,563 40,572 29,418 52,071 121,585 83,909 44,507 $ 6,953,073
Direct costs of wishes Salaries, payroll taxes, and benefits Rent and utilities Telephone Office supplies Postage and delivery Professional fees National assessment Repair and maintenance Meetings and conferences Depreciation and amortization Volunteer and outreach expenses Printing Miscellaneous
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