GCAC Annual Report 2006: GCAC Financials: Statement of Activities

GCAC Financials

Statement of Activities

For the 12 months ended December 31, 2006

Support and Revenue	Unrestricted	Temporarily Restricted	Total
City of Columbus Contract	$967,575	$2,902,725	$3,870,300
Ohio Arts Council	85,947		85,947
Contributions	51,425	25,000	76,425
Arts Festival	352,935	167,000	519,935
Artists in Schools	247,235	90,000	337,235
Columbus Arts Stabilization		20,470	20,470
Children of the Future		186,338	186,338
Other	121,008	61,100	182,108
Net assets released from restrictions	3,594,204	(3,594,204)
Total Support and Revenue	$5,420,329	$(141,571)	$5,278,758
Expenses Community Funding
Operating support grants	2,200,000		2,200,000
Project grants	426,650		426,650
Neighborhood grants	81,090		81,090
Technical Assistance	47,300		47,300
Individual Artist Fellowships	51,975		51,975
Program support - COF	15,057		15,057
Designated Projects	264,590		264,590
Total Community Funding	$3,086,662	-	$3,086,662
Program Expense
Stabilization Grants and Technical Assistance	65,200		65,200
Arists in Schools	345,621		345,621
Children of the Future	186,338		186,338
Arts Festival	515,621		515,621
Total Program Expense	$1,112,780		$1,112,780
Total Community Funding and Program	$4,199,442		$4,199,442
*General and Administrative*	441,203		441,203
Administrative salaries	597,650		597,650
Payroll taxes and Employee benefits	128,608		128,608
Executive Recruitment	100,385		100,385
Accounting and legal	25,080		25,080
Business Arts Partnership and special events	57,747		57,747
Conferences, travel, local expenses	13,135		13,135
Office and equipment rental	97,459		97,459
Office expenses	41,288		41,288
Telephone	9,652		9,652
Advertising and public information	7,518		7,518
Depreciation	37,653		37,653
Memberships, publications, Miscellaneous	12,964		12,964
Total General and Administrative	$972,692		$972,692
Total Expenses	$5,172,134		$5,172,134
Increase (decrease) in net assets	248,195	(141,571)	106,624
Beginning net assets	688,629	705,565	1,394,194
Ending Net Assets	$936,824	$563,994	$1,500,818