FINANCIAL STATEMENTS

Statement of Activities
Year Ended September 30, 2019

(With Comparative Totals for 2018)

2019
Without Donor
Restrictions
With Donor
Restrictions
Total 2018
Total
SUPPORT AND REVENUE
Grants and contracts $42,627,408 $ - $42,627,408 $43,890,700
Fees for services 18,300,944 - 18,300,944 18,669,411
Contributions 46,411 1,822,392 1,868,803 2,917,247
Investment income, net 941,261 - 941,261 782,066
Other 30,489 - 30,489 42,208
Net assets released from restrictions 1,831,721 (1,831,721) - -
Total support and revenue 63,778,234 (9,329) 63,768,905 66,301,632
EXPENSES
Program Services:
Field offices 34,932,815 - 34,932,815 37,926,518
Exchange programs 14,294,195 - 14,294,195 13,982,175
Other programs 1,351,904 - 1,351,904 1,057,881
Total program services 50,578,914 - 50,578,914 52,966,574
Supporting services 12,233,203 - 12,233,203 12,571,744
Total expenses 62,812,117 - 62,812,117 65,538,318
CHANGE IN NET ASSETS 966,117 (9,329) 956,788 763,314
NET ASSETS
Beginning 15,029,147 1,817,463 16,846,610 16,083,296
Ending $15,995,264 $1,808,134 $17,803,398 $16,846,610

STATEMENT OF Financial Position
September 30, 2019

(With Comparative Totals for 2018)

2019 2018
ASSETS
Cash and cash equivalents $4,230,012 $3,276,084
Receivables, net 8,486,679 8,903,407
Promises to give, net 167,500 -
Prepaid expenses and other 1,655,594 1,938,291
Inventory, net 710,806 507,024
Investments 16,601,444 16,108,474
Property and equipment, net 1,572,928 1,505,281
TOTAL ASSETS $33,424,963 $32,238,561
LIABILITIES AND NET ASSETS
LIABILITIES
Accounts payable $4,474,099 $4,469,303
Accrued expenses 2,633,022 2,568,526
Severance payable 2,119,449 2,367,034
Deferred revenue 4,582,125 4,230,655
Capital lease obligations 283,026 103,288
Deferred rent 1,529,844 1,653,145
Total liabilities 15,621,565 15,391,951
NET ASSETS
Without donor restrictions:
Undesignated 3,195,931 945,778
Board reserves 12,799,333 14,083,369
15,995,264 15,029,147
With donor restrictions 1,808,134 1,817,463
Total net assets 17,803,398 16,846,610
TOTAL LIABILITIES AND NET ASSETS $33,424,963 $32,238,561
t> -->