Revenue and Expenses: Fiscal Year Ending June 30, 2005

Balance Sheet: Fiscal Year Ending June 30, 2005

Notes: The balance sheet gives a snapshot of the financial healtd of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot long survive, but the types of assets and liabilities also must be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Assets	Jul 1, 2004	Jun 30, 2005	Change
Cash & Equivalent	$321,977	$355,449	$33,472
Accounts Receivable	$0	$7,000	$7,000
Pledges & Grants Receivable	$876,517	$492,416	$(384,101)
Receivables/Other	$0	$0	$0
Inventories for Sale or Use	$0	$0	$0
Investments/Securities	$0	$0	$0
Investments/Other	$0	$0	$0
Fixed Assets	$1,989	$222	$(1,767)
Other	$30,554	$9,384	$(21,170)
Total Assets	$1,231,037	$864,471	$(366,566)
Liabilities	Jul 1, 2004	Jun 30, 2005	Change
Accounts Payable	$54,784	$89,286	$34,502
Grants Payable	$0	$0	$0
Deferred Revenue	$0	$0	$0
Loans and Notes	$0	$0	$0
Tax-Exempt Bond Liabilities	$0	$0	$0
Other	$177,969	$280,847	$102,878
Total Liabilities	$232,753	$370,133	$137,380
FUND BALANCE	$998,284	$494,338	$(503,946)