GCAC Annual Report 2005: GCAC Financials: Statement of Activities

GCAC Financials

Statement of Activities

For the Twelve months ended December 31, 2005

Support and Revenue	Unrestricted	Temporarily Restricted	Total
City of Columbus Contract	$851,161	$2,553,483	$3,404,644
Ohio Arts Council	86,118	-	86,118
Franklin County	-	104,288	104,288
Contributions	50,781	5,727	56,508
Arts Festival	377,913	179,900	557,813
Artists in Schools	219,862	-	219,862
Columbus Arts Stabilization	-	13,208	13,208
Children of the Future	-	141,252	141,252
Other	73,145	67,700	140,845
Net assets released from restrictions	2,984,211	(2,984,211)
Total Support and Revenue	$4,643,191	$81,347	$4,724,538
Expenses Community Funding
Operating support grants	1,520,000		1,520,000
Project grants	541,835		541,835
Neighborhood grants	34,461		34,461
Technical Assistance	52,915		52,915
Individual Artist Fellowships	58,468		58,468
Program support - COF	30,729		30,729
Designated Projects	314,639		314,639
Total Community Funding	$2,553,047	-	$2,553,047
Program Expense
Arists in Schools	331,378		331,378
Children of the Future	141,252		141,252
Arts Festival	567,598		567,598
Total Program Expense	$1,040,228	-	$1,040,228
Total Community Funding and Program	$3,593,275		$3,593,275
*General and Administrative*
Administrative salaries	597,650		597,650
Payroll taxes and benefits	181,719		181,719
Accounting & legal	42,672		42,672
Business Arts Partnership and special events	57,981		57,981
Conferences, travel, local expenses	59,505		59,505
Office and equipment rental	91,641		91,641
Office expenses	42,477		42,477
Telephone	9,736		9,736
Advertising and public information	15,519		15,519
Depreciation	41,118		41,118
Miscellaneous	8,455		8,455
Total General and Administrative	$1,148,473		$1,148,473
Total Expenses	$4,741,748		$4,741,748
Increase (decrease) in net assets	(98,557)	81,347	(17,210)
Beginning net assets	787,186	624,218	1,411,404
Ending Net Assets	$688,629	$705,565	$1,394,194