GCAC Annual Report 2006: GCAC Financials: Statement of Financial Position

GCAC Financials

For the 12 months ended December 31, 2006

Assets *Current Assets*
Cash and cash equivalents	2,013,875
Investments	301,744
Unconditional promises to give
Restricted to Columbus Arts Stabilization Project
Accounts and grants receivable	155,833
Prepaid expenses	38,634
Total Current Assets	$2,510,086
Non Current Assets
Furniture and Equipment, net	178,073
Total Assets	$2,688,159
Liabilities and Net Assets Current Liabilities
Accounts payable and accrued expenses	165,205
Grants and technical assistance payable	933,710
Columbus Arts Stabilization Grant & Technical Assistance Payable	-
Deferred revenue	88,426
Total Current Liabilities	$1,187,341
Net Assets
Unrestricted	374,973
Unrestricted Investment in Fixed Assets	178,073
Unrestricted - designated	383,778
Temporarily restricted	563,994
Total Net Assets	$1,500,818
Total Liabilities and Net Assets	$2,688,159