2015-12-31: Financial Statements - Eagle...

EAGLE RANCH, INC. AND SUPPORTING AFFILIATE

__________

COMBINING FINANCIAL STATEMENTS WITH

INDEPENDENT AUDITOR'S REPORT

DECEMBER 31, 2015 AND 2014


TABLE OF CONTENTS

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Page Independent Auditor's Report 1 Combining Financial Statements: Statement of Financial Position as of December 31, 2015 3

Statement of Financial Position as of December 31, 2014 4

Statement of Activities

for the Year Ended December 31, 2015 5

Statement of Activities for the Year Ended December 31, 2014 7

Statement of Functional Expenses for the Year Ended December 31, 2015 9

Statement of Functional Expenses for the Year Ended December 31, 2014 10

Statement of Cash Flows

for the Year Ended December 31, 2015 11

Statement of Cash Flows for the Year Ended December 31, 2014 12 Notes to Financial Statements 13 Supplemental Information:

Summary Combined Statement of Activities for the Year Ended December 31, 2015 30

Summary Combined Statement of Activities for the Year Ended December 31, 2014 31

Two Premier Plaza • 5607 Glenridge Drive • Suite 650 • Atlanta, Georgia • 30342 T 404-531-4940 • F 404-531-4950 • www.brooksmcginnis.com

1

INDEPENDENT AUDITOR'S REPORT To the Boards of Directors of Eagle Ranch, Inc. and its Supporting Affiliate –

Eagle Ranch Foundation, Inc.: Report on the Financial Statements We have audited the accompanying combining financial statements of Eagle Ranch, Inc. and its Supporting Affiliate – Eagle Ranch Foundation, Inc. (nonprofit organizations) which comprise the combining statements of financial position as of December 31, 2015 and 2014, and the related combining statements of activities, functional expenses, and cash flows for the years then ended, and the related notes to the combining financial statements. Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

2

Opinion

In our opinion, the combining financial statements referred to above present fairly, in all material respects, the financial position of Eagle Ranch, Inc. and its Supporting Affiliate – Eagle Ranch Foundation, Inc. as of December 31, 2015 and 2014, and the changes in their net assets and their cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. Report on Supplementary Information

Our audits were conducted for the purpose of forming an opinion on the combining financial statements as a whole. The accompanying summary combined statements of activities for the years ended December 31, 2015 and 2014 as listed in the table of contents are presented for purposes of additional analysis and are not a required part of the financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the financial statements as a whole.

Atlanta, Georgia March 1, 2016


The accompanying notes are an integral part of these financial statements. 3

COMBINING STATEMENT OF FINANCIAL POSITION DECEMBER 31, 2015

__________

Eagle Ranch

Eagle Ranch, Foundation, Combined

Inc. Inc. 2015

Cash and cash equivalents $ 1,748,247 $ - $ 1,748,247

Unconditional promises to give, net 154,285 - 154,285

Accounts receivable 9,444 - 9,444

Prepaid expenses and other assets 115,941 - 115,941

Note receivable, net 25,000 - 25,000

Investments - short-term 1,899,230 - 1,899,230

Property and equipment, net 315,149 9,756,260 10,071,409

Investments - long term 739,245 10,629,358 11,368,603

Total assets $ 5,006,541 $ 20,385,618 $ 25,392,159

Liabilities:

Accounts payable and accrued

expenses $ 135,451 $ - $ 135,451

Charitable gift annuity obligations 99,157 - 99,157

234,608 - 234,608

Commitments and contingencies

Net assets:

Unrestricted:

Expended for property and equipment 315,149 9,756,260 10,071,409

Designated 1,308,000 2,505,506 3,813,506

Designated for long-term investment 720,578 - 720,578

Available for operations 956,535 670,718 1,627,253

Total unrestricted 3,300,262 12,932,484 16,232,746

Temporarily restricted 1,471,671 5,760,788 7,232,459

Permanently restricted - 1,692,346 1,692,346

Total net assets 4,771,933 20,385,618 25,157,551

Total liabilities and net assets $ 5,006,541 $ 20,385,618 $ 25,392,159

ASSETS

LIABILITIES AND NET ASSETS



COMBINING STATEMENT OF FINANCIAL POSITION DECEMBER 31, 2014

__________

Eagle Ranch

Eagle Ranch, Foundation, Combined

Inc. Inc. 2014

Cash and cash equivalents $ 1,468,428 $ - $ 1,468,428

Unconditional promises to give, net 217,811 - 217,811

Accounts receivable 20,544 - 20,544

Prepaid expenses and other assets 82,664 - 82,664

Note receivable, net 48,565 - 48,565

Investments - short-term 1,131,332 - 1,131,332

Property and equipment, net 334,262 10,129,364 10,463,626

Investments - long term 812,420 11,203,200 12,015,620

Total assets $ 4,116,026 $ 21,332,564 $ 25,448,590

Liabilities:

Accounts payable and accrued

expenses $ 117,100 $ - $ 117,100

Charitable gift annuity obligations 105,659 - 105,659

222,759 - 222,759

Commitments and contingencies

Net assets:

Unrestricted:

Expended for property and equipment 334,262 10,129,364 10,463,626

Designated 1,280,000 2,631,744 3,911,744

Designated for long-term investment 759,397 - 759,397

Available for operations 821,928 711,640 1,533,568

Total unrestricted 3,195,587 13,472,748 16,668,335

Temporarily restricted 697,680 6,167,470 6,865,150

Permanently restricted - 1,692,346 1,692,346

Total net assets 3,893,267 21,332,564 25,225,831

Total liabilities and net assets $ 4,116,026 $ 21,332,564 $ 25,448,590

ASSETS

LIABILITIES AND NET ASSETS


(Continued on next page.) The accompanying notes are an integral part of these financial statements.

5

COMBINING STATEMENT OF ACTIVITIES FOR THE YEAR ENDED DECEMBER 31, 2015

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Eagle RanchEagle Ranch, Foundation, Combined

Inc. Inc. 2015Changes in unrestricted net assets:

Support, gains and revenue:Public support contributions $ 3,231,550 $ - $ 3,231,550 Fundraising event revenues, net of

direct expenses of $23,593 115,537 - 115,537 Program service revenue 180,226 - 180,226 Investment income 16,442 58,937 75,379 Realized and unrealized loss

on investments (9,122) (86,138) (95,260) Gain on sale of property, equipment,

and other assets 2,028 - 2,028 Change in value of charitable gift annuity (18,038) - (18,038) Other income 15,762 - 15,762

Total support, gains and revenue 3,534,385 (27,201) 3,507,184

Net assets released from restrictions 770,296 - 770,296

Total support, gains, revenue and netassets released from restrictions 4,304,681 (27,201) 4,277,480

Expenses:Program services:

Counseling 897,871 17,565 915,436 Home Therapy 1,893,104 368,605 2,261,709 Education 730,844 110,762 841,606

Total program services 3,521,819 496,932 4,018,751

Supporting services:Management and general 557,928 16,647 574,575 Fundraising 474,075 6,002 480,077

Total supporting services 1,032,003 22,649 1,054,652

Total expenses 4,553,822 519,581 5,073,403

Decrease in unrestrictednet assets before transfers (249,141) (546,782) (795,923)



COMBINING STATEMENT OF ACTIVITIES – CONTINUED FOR THE YEAR ENDED DECEMBER 31, 2015

____________

Eagle Ranch

Eagle Ranch, Foundation, Combined Inc. Inc. 2015

Transfers of unrestricted net assets:Distributions from Foundation 500,292 (161,569) 338,723 Distributions to Foundation - 21,611 21,611 Transfer of property to Foundation (146,476) 146,476 -

Total transfers of unrestricted net assets 353,816 6,518 360,334

Increase (decrease) in unrestricted net assets after transfers 104,675 (540,264) (435,589)

Changes in temporarily restricted net assets:Contributions 1,569,985 - 1,569,985 Realized and unrealized

loss on investments - (228,136) (228,136) Interest and dividend income - 156,090 156,090 Net assets released from restrictions (770,296) - (770,296)

Increase (decrease) in temporarily restrictednet assets before transfers 799,689 (72,046) 727,643

Transfers of temporarily restricted net assets:Distributions from Foundation 50,913 (389,636) (338,723) Distributions to Foundation (76,611) 55,000 (21,611)

Total temporarily restricted transfers (25,698) (334,636) (360,334)

Increase (decrease) in temporarily restrictednet assets after transfers 773,991 (406,682) 367,309

Increase (decrease) in net assets 878,666 (946,946) (68,280)

Net assets at beginning of year 3,893,267 21,332,564 25,225,831

Net assets at end of year $ 4,771,933 $ 20,385,618 $ 25,157,551


(Continued on next page.) The accompanying notes are an integral part of these financial statements.

7

COMBINING STATEMENT OF ACTIVITIES FOR THE YEAR ENDED DECEMBER 31, 2014

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Inc. Inc. 2014Changes in unrestricted net assets:

Support, gains and revenue:Public support contributions $ 3,078,292 $ - $ 3,078,292 Fundraising event revenues, net of

direct expenses of $18,805 130,545 - 130,545 Program service revenue 174,996 - 174,996 Investment income 31,736 51,040 82,776 Realized and unrealized gain

on investments 20,720 114,591 135,311 Loss on sale of property, equipment,

and other assets (11,327) - (11,327) Change in value of charitable gift annuity (17,473) - (17,473) Other income 16,623 - 16,623

Total support, gains and revenue 3,424,112 165,631 3,589,743

Net assets released from restrictions 866,693 - 866,693

Total support, revenue and netassets released from restrictions 4,290,805 165,631 4,456,436

Expenses:Program services:

Counseling 799,429 17,660 817,089 Home Therapy 1,769,008 346,780 2,115,788 Education 672,919 108,936 781,855

Total program services 3,241,356 473,376 3,714,732

Supporting services:Management and general 506,417 16,305 522,722 Fundraising 426,439 5,847 432,286

Total supporting services 932,856 22,152 955,008

Total expenses 4,174,212 495,528 4,669,740

Increase (decrease) in unrestrictednet assets before transfers 116,593 (329,897) (213,304)



COMBINING STATEMENT OF ACTIVITIES – CONTINUED FOR THE YEAR ENDED DECEMBER 31, 2014

____________

Eagle Ranch

Eagle Ranch, Foundation, Combined Inc. Inc. 2014

Transfers of unrestricted net assets:Distributions from Foundation 458,560 (144,380) 314,180 Distributions to Foundation - 240,659 240,659 Transfer of property to Foundation (264,886) 264,886 -

Total transfers of unrestricted net assets 193,674 361,165 554,839

Increase in unrestricted net assets after transfers 310,267 31,268 341,535

Changes in temporarily restricted net assets:Contributions 1,176,188 - 1,176,188 Realized and unrealized

gain on investments - 271,335 271,335 Interest and dividend income - 120,856 120,856 Net assets released from restrictions (866,693) - (866,693)

Increase in temporarily restrictednet assets before transfers 309,495 392,191 701,686

Transfers of temporarily restricted net assets:Distributions from Foundation 48,080 (362,260) (314,180) Distributions to Foundation (552,270) 311,611 (240,659)

Total temporarily restricted transfers (504,190) (50,649) (554,839)

Increase (decrease) in temporarily restrictednet assets after transfers (194,695) 341,542 146,847

Increase in net assets 115,572 372,810 488,382

Net assets at beginning of year 3,777,695 20,959,754 24,737,449

Net assets at end of year $ 3,893,267 $ 21,332,564 $ 25,225,831



COMBINING STATEMENT OF FUNCTIONAL EXPENSES FOR THE YEAR ENDED DECEMBER 31, 2015

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Home Total Management Total SupportingCounseling Therapy Education Program and General Fundraising Services Total

Salaries and wages $ 552,689 $ 639,364 $ 453,507 $ 1,645,560 $ 227,570 $ 244,177 $ 471,747 $ 2,117,307 Employee benefits 80,635 202,443 49,127 332,205 39,189 13,914 53,103 385,308 Payroll taxes 39,703 47,245 33,571 120,519 16,974 18,057 35,031 155,550

Total salaries and related expenses 673,027 889,052 536,205 2,098,284 283,733 276,148 559,881 2,658,165

Accounting fees - - - - 30,250 - 30,250 30,250 Advertising and public relations 11,296 2,815 - 14,111 68,525 986 69,511 83,622 Bank charges - - - - 22,954 - 22,954 22,954 Home expenses - 68,814 - 68,814 - - - 68,814 Counseling 17,435 - - 17,435 100 - 100 17,535 Consulting and legal fees 27,616 6,843 32,683 67,142 35,488 2,660 38,148 105,290 Depreciation 13,425 88,933 8,555 110,913 7,972 3,222 11,194 122,107 Education and tuition reimbursement - 15,649 1,734 17,383 11,500 - 11,500 28,883 Enrichment and entertainment 21,128 7,259 5,465 33,852 8,907 43,340 52,247 86,099 Equipment rental - 10,479 34 10,513 32 - 32 10,545 Fundraising events - - - - - 4,321 4,321 4,321 Insurance 16,788 105,758 23,326 145,872 23,098 10,777 33,875 179,747 Other 842 16,938 1,099 18,879 5,047 7,851 12,898 31,777 Newsletter - - - - - 78,414 78,414 78,414 Postage and shipping 1,146 1,251 217 2,614 5,638 4,894 10,532 13,146 Printing and publications 7,752 33,167 747 41,666 5,195 12,956 18,151 59,817 Repairs and maintenance 54,197 307,438 54,210 415,845 8,619 5,543 14,162 430,007 Staff development 14,714 2,811 6,394 23,919 7,065 69 7,134 31,053 Supplies 14,056 185,123 38,490 237,669 17,750 12,530 30,280 267,949 Tags and licenses 21 2,713 312 3,046 60 - 60 3,106 Telephone 14,139 15,412 1,505 31,056 7,704 3,823 11,527 42,583 Travel 1,722 9,368 312 11,402 756 3,676 4,432 15,834 Utilities 7,046 95,102 18,014 120,162 5,876 2,263 8,139 128,301 Vehicle expense 1,521 28,179 1,542 31,242 1,659 602 2,261 33,503

Total Eagle Ranch expenses 897,871 1,893,104 730,844 3,521,819 557,928 474,075 1,032,003 4,553,822

Depreciation 17,565 368,605 110,762 496,932 16,647 6,002 22,649 519,581 Total Foundation expenses 17,565 368,605 110,762 496,932 16,647 6,002 22,649 519,581

Total expenses $ 915,436 $ 2,261,709 $ 841,606 $ 4,018,751 $ 574,575 $ 480,077 $ 1,054,652 $ 5,073,403

ServicesSupporting

Eagle Ranch, Inc.

Eagle Ranch Foundation, Inc.

ProgramServices



COMBINING STATEMENT OF FUNCTIONAL EXPENSES FOR THE YEAR ENDED DECEMBER 31, 2014

_________

Home Total Management Total SupportingCounseling Therapy Education Program and General Fundraising Services Total

Salaries and wages $ 532,281 $ 582,177 $ 405,517 $ 1,519,975 $ 211,018 $ 224,725 $ 435,743 $ 1,955,718 Employee benefits 85,231 201,909 50,977 338,117 37,636 19,798 57,434 395,551 Payroll taxes 31,678 46,419 29,779 107,876 15,280 16,798 32,078 139,954

Total salaries and related expenses 649,190 830,505 486,273 1,965,968 263,934 261,321 525,255 2,491,223

Accounting fees - - - - 30,030 - 30,030 30,030 Advertising and public relations 7,282 1,583 841 9,706 44,033 632 44,665 54,371 Bank charges - 217 - 217 20,879 - 20,879 21,096 Home expenses - 59,264 - 59,264 - - - 59,264 Counseling 14,149 - - 14,149 - - - 14,149 Consulting and legal fees 11,290 18,446 20,555 50,291 34,748 2,039 36,787 87,078 Depreciation 10,295 94,579 6,513 111,387 6,324 2,551 8,875 120,262 Education and tuition reimbursement - 19,820 4,000 23,820 3,763 - 3,763 27,583 Enrichment and entertainment 23,398 9,234 5,415 38,047 9,119 9,661 18,780 56,827 Equipment rental - 5,265 - 5,265 21 - 21 5,286 Fundraising events - - - - - 9,760 9,760 9,760 Insurance 17,748 107,329 24,546 149,623 19,733 12,337 32,070 181,693 Other 1,435 12,666 1,213 15,314 5,611 11,897 17,508 32,822 Newsletter - - - - - 67,165 67,165 67,165 Postage and shipping 1,620 1,059 208 2,887 5,518 8,122 13,640 16,527 Printing and publications 9,968 6,923 930 17,821 7,559 14,531 22,090 39,911 Repairs and maintenance 5,974 233,035 79,387 318,396 15,543 7,250 22,793 341,189 Staff development 14,631 248 2,988 17,867 7,630 332 7,962 25,829 Supplies 12,824 213,693 19,521 246,038 17,794 10,906 28,700 274,738 Tags and licenses 21 2,980 358 3,359 290 166 456 3,815 Telephone 10,899 7,804 1,534 20,237 5,806 3,096 8,902 29,139 Travel 713 2,208 71 2,992 643 1,920 2,563 5,555 Utilities 6,895 101,438 18,566 126,899 5,807 2,195 8,002 134,901 Vehicle expense 1,097 40,712 - 41,809 1,632 558 2,190 43,999

Total Eagle Ranch expenses 799,429 1,769,008 672,919 3,241,356 506,417 426,439 932,856 4,174,212

Depreciation 17,660 346,780 108,936 473,376 16,305 5,847 22,152 495,528 Total Foundation expenses 17,660 346,780 108,936 473,376 16,305 5,847 22,152 495,528

Total expenses $ 817,089 $ 2,115,788 $ 781,855 $ 3,714,732 $ 522,722 $ 432,286 $ 955,008 $ 4,669,740

ServicesSupporting

Eagle Ranch, Inc.

Eagle Ranch Foundation, Inc.

ProgramServices



COMBINING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2015

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Inc. Inc. 2015Cash flows from operating activities:

Increase (decrease) in net assets $ 878,666 $ (946,946) $ (68,280) Adjustments to reconcile increase(decrease) in net assets to cash provided by (used in) operating activities

Depreciation 122,107 519,581 641,688 Amortization of discount on note receivable (1,435) - (1,435) Contributions of stock (73,451) - (73,451) Proceeds from sale of contributed stock 73,451 - 73,451 Contributions of property and equipment (45,000) - (45,000) Gain on sale of property, equipment

and other assets (2,028) - (2,028) Realized gain on sale of investments (18,063) (335,256) (353,319) Unrealized loss on investments 22,867 649,530 672,397 Change in charitable gift annuity (18,038) - (18,038) Changes in assets and liabilities:

(Increase) decrease in:Accounts receivable 11,100 - 11,100 Prepaids and other assets (33,277) - (33,277) Promises to give and contributions for long term purposes (82,474) - (82,474)

Increase in:Accounts payable and accrued expenses 18,351 - 18,351

Total adjustments (25,890) 833,855 807,965

Net cash provided by (used in)operating activities 852,776 (113,091) 739,685

Cash flows from investing activities:Purchase of property and equipment (57,993) (146,476) (204,469) Proceeds from sale of other assets 36,384 - 36,384 Purchase of investments (1,632,614) (2,572,861) (4,205,475) Proceeds from the sale of investments 910,266 2,832,428 3,742,694 Note receivable payment received 25,000 - 25,000

Net cash provided by (used in) investing activities (718,957) 113,091 (605,866)

Cash flows from financing activities:Contributions received for long term purposes 146,000 - 146,000

Net cash provided by financing activities 146,000 - 146,000

Increase in cash and cash equivalents 279,819 - 279,819

Cash and cash equivalents at beginning of year 1,468,428 - 1,468,428

Cash and cash equivalents at end of year $ 1,748,247 $ - $ 1,748,247



COMBINING STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2014

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Inc. Inc. 2014Cash flows from operating activities:

Increase in net assets $ 115,572 $ 372,810 $ 488,382 Adjustments to reconcile increase in net assets to cash provided by (used in) operating activities

Depreciation 120,262 495,528 615,790 Contributions of stock (190,362) - (190,362) Proceeds from sale of contributed stock 190,362 - 190,362 Loss on sale of property, equipment

and other assets 11,327 - 11,327 Realized gain on sale of investments (21,257) (466,005) (487,262) Unrealized (gain) loss on investments (247) 80,079 79,832 Change in charitable gift annuity (17,473) - (17,473) Changes in assets and liabilities:

Increase in:Accounts receivable (5,109) - (5,109) Prepaid and other assets (270) - (270) Promises to give andcontributions for long term purposes (487,594) - (487,594)

Decrease in:Accounts payable and accrued expenses (77,813) - (77,813)

Total adjustments (478,174) 109,602 (368,572)

Net cash provided by (used in)operating activities (362,602) 482,412 119,810

Cash flows from investing activities:Purchase of property and equipment (127,939) (264,886) (392,825) Proceeds from sale of other assets 41,625 - 41,625 Purchase of investments (1,654,509) (3,669,485) (5,323,994) Proceeds from the sale of investments 1,350,004 3,451,959 4,801,963

Net cash used in investing activities (390,819) (482,412) (873,231)

Cash flows from financing activities:Contributions received for long term purposes 457,093 - 457,093

Net cash provided by financing activities 457,093 - 457,093

Decrease in cash and cash equivalents (296,328) - (296,328)

Cash and cash equivalents at beginning of year 1,764,756 - 1,764,756

Cash and cash equivalents at end of year $ 1,468,428 $ - $ 1,468,428

Noncash investing activities:

Issuance of note receivable $ 48,565 $ - $ 48,565

EAGLE RANCH, INC. AND SUPPORTING AFFILIATE NOTES TO FINANCIAL STATEMENTS

DECEMBER 31, 2015 AND 2014 __________

13

1. Nature of Organizations and Significant Accounting Policies

The Organizations

Eagle Ranch, Inc., (the Ranch) founded in 1982, is a non-profit, Christ-centered home for children ages six to eighteen who are in need of a stronger family support system. The goal of the Ranch is the spiritual, intellectual, emotional, social, and physical development of children and eventual reunification with their natural families, whenever possible. The combining financial statements include the accounts of the Ranch and its supporting affiliate (collectively, the Organizations). The Ranch's supporting affiliate is the Eagle Ranch Foundation, Inc. (the Foundation), which was formed to manage the portfolio of investments of the Ranch.

Since the Foundation was initially funded with the transfer of the Ranch's endowment funds to the Foundation, and since there is certain common control and management of these entities, it is the policy of the Ranch to present combining financial statements.

Basis of Presentation

Financial statement presentation follows the recommendations of professional standards. In accordance with professional standards, the Organizations are required to report information regarding their financial position and activities according to three classes of net assets: unrestricted, temporarily restricted, and permanently restricted, based on stipulations made by the donor.

Basis of Accounting

The accounts of the Ranch and the Foundation are maintained, and these combining statements are presented, on the accrual basis of accounting to present the results of activities and financial position in conformity with accounting principles generally accepted in the United States of America.

Advertising Expense

Advertising costs are expensed as incurred.

Contributions

The Organizations account for contributions in accordance with the recommendations of professional standards. In accordance with professional standards, contributions received are recorded as increases in unrestricted, temporarily restricted, or permanently restricted net assets, depending on the existence or nature of donor restrictions. All donor-restricted contributions are reported as increases in temporarily restricted net assets depending on the nature of the restriction. When a restriction expires (that is, when a stipulated time restriction ends or purpose restriction is accomplished), temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities as net assets released from restrictions.


DECEMBER 31, 2015 AND 2014 __________

14

1. Nature of Organizations and Significant Accounting Policies – Continued Contributed Property and Equipment Gifts of long-lived assets with explicit restrictions that specify how the assets are to be used

and gifts of cash or other assets that must be used to acquire long-lived assets are reported as restricted support. Absent explicit donor stipulations about how long those long-lived assets must be maintained, the Organizations report expirations of donor restrictions when the donated or acquired long-lived assets are placed in service.

Contributed Marketable Securities and Other Assets Non-cash contributions of marketable securities or other assets are recorded at fair market

value on the date of receipt. Promises to Give Unconditional promises to give are recognized as support in the period in which the donor

makes the promise. The Organizations report gifts of cash and other assets as restricted support if they are received with donor stipulations that limit the use of the donated assets. When a donor restriction expires, that is, when a stipulated time restriction ends or purpose restriction is accomplished, temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities as net assets released from restrictions.

Investments and Spending Policy Investments are carried at market in accordance with professional standards. Realized and

unrealized gains or losses from investments are reflected in the statements of activities. It is the policy of the Foundation’s Board of Trustees (the Trustees) to invest in such a manner as to achieve a balanced approach. Further, the Trustees have approved and implemented an annual spending policy related to its invested funds.

The spending policy stipulates that five percent (5.0%) of the prior year’s average market value

of the investment portfolio, determined at September 30th of each year, shall be available to the Ranch during its next fiscal year, unless otherwise restricted by the donor. Distributions are made to the Ranch on a quarterly basis. During 2015 and 2014, the Foundation made distributions in the amount of $551,205 and $506,640 , respectively.

Investment income consisting of dividends and interest (as well as any capital gains that may

be necessary to achieve the percent allocation) along with any unrestricted contributions received by the Foundation are transferred to the Ranch when requested. Interest, dividends, realized and unrealized gains or losses in excess of the percent allocated are recorded as increases or decreases in unrestricted net assets.


DECEMBER 31, 2015 AND 2014 __________

15

1. Nature of Organizations and Significant Accounting Policies – Continued Property and Equipment The Organizations follow the practice of capitalizing all expenditures for property and

equipment in excess of $5,000; the fair value of donated property and equipment is similarly capitalized. Depreciation is provided on a straight-line basis over the estimated useful lives of the assets. These lives are estimated at three to five years for computer equipment and software, five to seven years for furniture and equipment, and fifteen to forty years for building and improvements. When property and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the respective accounts and any gain or loss resulting from the disposition is reported in the combining statement of activities.

The Organizations evaluate their long-lived assets for indicators of possible impairment by

comparing the carrying amounts of such assets to future net undiscounted cash flows expected to be generated by such assets when events or circumstances indicate that the carrying value of an asset or asset group may not be recoverable. Should an impairment exist, the impairment loss would be measured based on the excess of the asset’s carrying value over the asset’s estimated fair value, which would normally be determined by discounting estimated future cash flows.

Functional Allocation of Expenses The costs of providing the various programs and other activities are summarized on a

functional basis. Accordingly, certain costs have been allocated among the programs and supporting services benefited.

Donated Equipment, Material , Food and Services In accordance with professional standards, contributions of services are recognized if the

service received (a) create or enhance non-financial assets or (b) require specialized skills that are provided by individuals possessing those skills and would typically need to be purchased if the market value of the donated item is readily available and the item meets the criteria for recognition under professional standards. During 2015 and 2014, the Ranch recorded donated equipment, materials and food of approximately $154,559 and $89,406, respectively. Finally, the Ranch received a substantial amount of services donated by volunteers in carrying out the Ranch’s programs and activities. No amounts have been reflected in the financial statements for those services since they do not meet the criteria for recognition under professional standards.


DECEMBER 31, 2015 AND 2014 __________

16

1. Nature of Organizations and Significant Accounting Policies – Continued Tax-Exempt Status As provided under Internal Revenue Code Section 501(c)(3) for nonprofit organizations, both

the Ranch and the Foundation are exempt from federal and state income taxes related to their exempt function activities. Therefore, no provision for income taxes is provided. In addition, the Foundation has been determined by the Internal Revenue Service not to be a ‘private foundation’ within the meaning of Section 509(a) of the Internal Revenue Code.

The Organizations believe that it has appropriate support for any tax positions taken, and as

such, does not have any uncertain tax positions that are material to the financial statements. Income from certain activities not directly related to the Organizations’ tax-exempt purpose is subject to taxation as unrelated business income. For the years ended December 31, 2015 and 2014, the Organizations did have unrelated business income. The tax provision for years ended December 31, 2015 and 2014 was $1,759 and $1,374, respectively and are included in the statement s of functional expenses. As of December 31, 2015, fiscal years 2012-2015 remain open for examination by federal and state tax authorities.

Estimates The preparation of financial statements in conformity with accounting principles generally

accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

2. Cash and Cash Equivalents The Organizations consider all temporary cash investments and highly liquid investments with

original maturities of three months or less to be cash equivalents. Cash and temporarily restricted cash investments consist of the following at December 31:

2015 2014

Unrestricted cash $ 480,527 $ 467,481 Restricted cash 1,267,720 1,000,947

Cash and cash equivalents $ 1,748,247 $ 1,468,428


DECEMBER 31, 2015 AND 2014 __________

17

3. Unconditional Promises to Give At December 31, 2015 and 2014, the Ranch had unconditional promises to give of $160,000

and $230,000 , respectively, pledged by foundations. They are discounted at three percent (3.0%). Management expects that all of its remaining unconditional promises to give are collectible as the outstanding promises to give are from foundations. Therefore, no allowance for uncollectible promises to give has been established.

Unconditional promises to give are expected to be collected as follows at December 31:

2015 2014

Less than one year $ 70,000 $ 70,000 Years one to five 90,000 160,000

160,000 230,000 Less present value discount (5,715) (12,189)

Unconditional promises to give, net $ 154,285 $ 217,811

4. Note Receivable, Net The loan is unsecured and is noninterest bearing. The loan was discounted at 3%. The loan is

due in two equal payments over two years. Note receivable is summarized as follows at December 31:

2015 2014

Note receivable $ 25,000 $ 50,000 Less unamortized discount - (1,435)

Total note receivable, net $ 25,000 $ 48,565

5. Investments The Organizations classify their investment assets using a hierarchy of inputs to fair value

measurements in accordance with professional standards, as follows: Level 1 – Quoted prices in active markets for identical assets or liabilities that the

Organizations have the ability to access;

Level 2 – Inputs to the valuation methodology that are derived principally from or corroborated by observable market data:

Quoted prices for similar assets or liabilities in active markets; Quoted prices for identical or similar assets or liabilities in inactive markets; Inputs other than quoted prices that are observable for the assets or liability;


DECEMBER 31, 2015 AND 2014 __________

18

5 Investments – Continued

Inputs that are derived principally from or corroborated by observable market data by correlation or other means.

Level 3 – Inputs that are unobservable and significant to the overall fair value measurement.

The asset’s or liability’s fair value measurement level within the fair value hierarchy is based

on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

The fair market value of long-term investments is summarized in the next two tables:

Fair Value Eagle RanchHierarchy Eagle Ranch, Foundation,

Level Inc. Inc. TotalEquity stocks: Energy 1 $ - $ 18,774 $ 18,774 Consumer goods 1 - 547,375 547,375 Health care 1 - 790,964 790,964 Industrials 1 - 415,188 415,188 Information technology 1 - 548,372 548,372 Materials 1 - 375,560 375,560 Financials 1 - 867,651 867,651 Utilities 1 - 104,265 104,265 Services 1 - 520,440 520,440

Equity stocks - 4,188,589 4,188,589 Mutual fund: Fixed income 1 170,107 2,785,440 2,955,547 Small cap blend 1 - 209,209 209,209 Mid cap blend 1 - 214,553 214,553 Mid cap growth 1 - 391,139 391,139 Emerging market 1 52,837 - 52,837 Hedge equity 3 58,485 305,698 364,183 REIT 1 1,644 - 1,644 International fund 1 - 1,112,728 1,112,728 Domestic equity 1 117,419 - 117,419 International equity 1 50,893 - 50,893 Growth fund 1 229,811 - 229,811

Mutual fund 681,196 5,018,767 5,699,963

Money market 2 16,119 775,161 791,280 U.S. Treasuries 1 - 646,841 646,841 Investment in limited partnerships and other 3 41,930 - 41,930

Balance at end of year $ 739,245 $ 10,629,358 $ 11,368,603

December 31, 2015:


DECEMBER 31, 2015 AND 2014 __________

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5. Investments – Continued


Level Inc. Inc. TotalEquity stocks: Energy 1 $ - $ 23,433 $ 23,433 Consumer goods 1 - 754,266 754,266 Health care 1 - 724,415 724,415 Industrials 1 - 320,263 320,263 Information technology 1 - 705,595 705,595 Materials 1 - 526,783 526,783 Financials 1 - 1,054,394 1,054,394 Utilities 1 - 213,996 213,996 Services 1 - 491,934 491,934

Equity stocks - 4,815,079 4,815,079 Mutual fund: Fixed income 1 187,995 2,815,675 3,003,670 Small cap blend 1 - 216,714 216,714 Mid cap blend 1 - 222,992 222,992 Mid cap growth 1 - 381,055 381,055 Emerging market 1 50,253 140,801 191,054 Hedge equity 3 72,153 302,677 374,830 International fund 1 - 1,212,897 1,212,897 Domestic equity 1 128,904 - 128,904 International equity 1 51,368 - 51,368 Growth fund 1 242,775 - 242,775

Mutual fund 733,448 5,292,811 6,026,259

Money market 2 7,855 796,929 804,784 U.S. Treasuries 1 - 298,381 298,381 Investment in limited partnerships and other 3 71,117 - 71,117


December 31, 2014:


DECEMBER 31, 2015 AND 2014 __________

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5. Investments – Continued

The following table presents the activity for investments measured at fair value on a recurring basis using significant unobservable inputs (Level 3) as defined by GAAP at:

Eagle RanchEagle Ranch, Foundation,

Inc. Inc. Combined

Beginning balance $ 143,270 $ 302,677 $ 445,947 Purchases 772 - 772 Sales (37,513) - (37,513) Unrealized gain (loss) (6,114) 3,021 (3,093)

Ending balance $ 100,415 $ 305,698 $ 406,113

Beginning balance $ 247,606 $ 123,941 $ 371,547 Purchases - 306,000 306,000 Sales (101,853) (123,941) (225,794) Unrealized gain (loss) (2,483) (3,323) (5,806)

Ending balance $ 143,270 $ 302,677 $ 445,947

December 31, 2014:

December 31, 2015:

Investment income consists of interest and dividends received net of any direct costs and fees associated with the investment accounts. At December 31, 2015 and 2014, investment fees at the Ranch totaled $8,966 and $7,916, respectively, and at the Foundation totaled $63,104 and $67,816, respectively.

The Ranch has investments held in various pooled funds at the North Georgia Community Foundation, the Community Foundation for Northeast Georgia, and the Community Foundation for Greater Atlanta, Inc. The Ranch records its interest in these funds based on the fair value of the assets contributed to these funds. Subsequent adjustments to the carrying value are recorded as unrestricted or temporarily restricted gains and/or losses based on the stipulations made by the donor. Long-term investments by net asset class are as follows at:


Inc. Inc. Combined

Unrestricted $ 739,245 $ 3,176,224 $ 3,915,469 Temporarily restricted - 5,760,788 5,760,788 Permanently restricted - 1,692,346 1,692,346


Unrestricted $ 812,420 $ 3,343,384 $ 4,155,804 Temporarily restricted - 6,167,470 6,167,470 Permanently restricted - 1,692,346 1,692,346


December 31, 2014:

December 31, 2015:


DECEMBER 31, 2015 AND 2014 __________

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5. Investments – Continued Investments held for short term purposes consist of the following at:


Level Inc. Inc. Total

Mutual fund: Fixed income 1 $ 51,158 $ - $ 51,158 Emerging markets 1 - - International equity 1 39,290 - 39,290 Small cap Blend 1 7,320 - 7,320 Mid cap Blend 1 24,022 - 24,022 Large cap Blend 1 61,687 - 61,687 Commodities Broad Basket 1 2,939 - 2,939 Real Estate 1 4,784 - 4,784

Mutual fund 191,200 - 191,200

Cash value of life insurance 2 31,180 - 31,180 Certificates of deposit 2 1,621,598 - 1,621,598 Cash and money markets 2 55,252 - 55,252

Balance at end of year $ 1,899,230 $ - $ 1,899,230

Mutual fund: Fixed income 1 $ 25,789 $ - $ 25,789 Emerging markets 1 4,911 - 4,911 International equity 1 13,258 - 13,258 Mid cap Blend 1 13,592 - 13,592 Large cap Blend 1 33,912 - 33,912

Mutual fund 91,462 - 91,462

Cash value of life insurance 2 29,702 - 29,702 Certificates of deposit 2 850,871 - 850,871 Cash and money markets 2 159,297 - 159,297

Balance at end of year $ 1,131,332 $ - $ 1,131,332

December 31, 2015:

December 31, 2014:


DECEMBER 31, 2015 AND 2014 __________

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6. Property and Equipment, Net Components of property and equipment consist of the following at:


December 31, 2015: Inc. Inc. Combined

Land and infrastructure $ 22,500 $ 1,659,429 $ 1,681,929 Buildings and improvements 5,038 13,990,581 13,995,619 Furniture and fixtures 987,287 - 987,287 Office equipment 221,051 - 221,051 Machinery and equipment 60,725 - 60,725 Farm equipment 34,243 - 34,243 Vehicles 601,281 - 601,281

1,932,125 15,650,010 17,582,135 Less accumulated depreciation (1,616,976) (5,916,856) (7,533,832)

315,149 9,733,154 10,048,303 Construction in progress - 23,106 23,106

Property and equipment, net $ 315,149 $ 9,756,260 $ 10,071,409

December 31, 2014

Land and infrastructure $ 2,500 $ 1,659,429 $ 1,661,929 Buildings and improvements 5,038 13,867,210 13,872,248 Furniture and fixtures 987,287 - 987,287 Office equipment 224,032 - 224,032 Machinery and equipment 60,725 - 60,725 Farm equipment 34,243 - 34,243 Vehicles 524,796 - 524,796

1,838,621 15,526,639 17,365,260 Less accumulated depreciation (1,513,859) (5,397,275) (6,911,134)

324,762 10,129,364 10,454,126 Construction in progress 9,500 - 9,500

Property and equipment, net $ 334,262 $ 10,129,364 $ 10,463,626

Depreciation expense for the years ended December 31, 2015 and 2014 was $122,107 and $120,262 , respectively, as recorded by the Ranch. Depreciation expense for the years ended December 31, 2015 and 2014 was $519,581 and $495,528 , respectively, as recorded by the Foundation .


DECEMBER 31, 2015 AND 2014 __________

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7. Charitable Gift Annuity Obligations The Ranch has received gift annuities whereby the donors may contribute assets to the Ranch

in exchange for the right to receive a fixed-dollar annual return during their lifetime. A portion of the transfer is considered to be a charitable contribution for income tax purposes. The difference between the amount provided for the gift annuity and the present value of the liability for future payments, determined on an actuarial basis, is recognized as an unrestricted contribution at the date of the gift.

The annuity liability is revalued annually based upon actuarially computed present value. At

December 31, 2015 and 2014, the present value was calculated at a discount rate of 2.0%. The resulting actuarial gain (loss) is recorded as unrestricted revenue.

The assets and corresponding liabilities (the present value of the estimated future actuarial

liability to annuitants) of the gift annuities are as follows as of December 31:

2015 2014

Investments $ 140,485 $ 165,025

Annuity payable $ 99,157 $ 105,659

8. Unrestricted - Designated Net Assets The Board of Directors of the Ranch designated a portion of net assets for emergency

operations at December 31, 2015 and 2014 of $1,308,000 and $1,280,000 , respectively. Net assets designated by the Board of Trustees of the Foundation are as follows at December

31:

2015 2014

Land acquisition $ 71,477 $ 72,155

Endowment 815,446 801,898

Eagle Ranch School 664,262 705,665

Equipment replacement 68,116 68,763

Home maintenance 886,205 983,263

$ 2,505,506 $ 2,631,744


DECEMBER 31, 2015 AND 2014 __________

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9. Temporarily Restricted Net Assets Temporarily restricted net assets consist of the following donor restricted amounts at:


Inc. Inc. Combined

Temporarily restricted:Educational $ 130,969 $ 486,705 $ 617,674 Facilities 341,255 457,962 799,217 Operational programs 999,447 4,816,121 5,815,568

Total temporarily restricted net assets $ 1,471,671 $ 5,760,788 $ 7,232,459

Temporarily restricted:Educational $ 119,199 $ 517,041 $ 636,240 Facilities 11,263 428,841 440,104 Operational programs 567,218 5,221,588 5,788,806

Total temporarily restricted net assets $ 697,680 $ 6,167,470 $ 6,865,150

December 31, 2015:

December 31, 2014:


DECEMBER 31, 2015 AND 2014 __________

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10. Net Assets Released from Restrictions The following net assets were released from donor restrictions by incurring expenses satisfying

the restricted purposes or by occurrence of other events specified by the donors:

Eagle Ranch

Eagle Ranch, Foundation,

Inc. Inc. Combined

Net assets released from program restrictions:

Counseling $ 113,555 $ - $ 113,555

Home Therapy 225,544 - 225,544

Education 204,210 - 204,210

543,309 - 543,309

Net assets released from other restrictions:

General and administrative 35,828 - 35,828

Fundraising 29,816 - 29,816

Purchase of property and equipment 151,343 - 151,343

Time release 10,000 - 10,000

226,987 - 226,987

Net assets released from restrictions $ 770,296 $ - $ 770,296

Net assets released from program restrictions:

Counseling $ 35,705 $ - $ 35,705

Home Therapy 171,341 - 171,341

Education 238,021 - 238,021

445,067 - 445,067

Net assets released from other restrictions:

General and administrative 16,804 - 16,804

Fundraising 2,898 - 2,898

Purchase of property and equipment 391,924 - 391,924

Time release 10,000 - 10,000

421,626 - 421,626

Net assets released from restrictions $ 866,693 $ - $ 866,693

Year Ended December 31, 2015:

Year Ended December 31, 2014:


DECEMBER 31, 2015 AND 2014 __________

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11. Permanently Restricted Net Assets and Endowment Funds The Uniform Management of Institutional Fund Act of (UPMIFA), effective in Georgia on

July 1, 2008, provides standards for charities to use in managing their investment and spending from endowments. UPMIFA applies to funds held by charitable entities. The overarching duty of the charity’s managers is to comply with donor intent with respect to gift funds as expressed in the gift instrument. The managers must comply with the duty of the loyalty and must manage and invest the funds “in good faith and with the care of an ordinarily prudent person in a like position would exercise under similar circumstances.” Costs incurred in the management of the funds must be appropriate and reasonable.

The Foundation’s investments have a long-term focus and the objective for the fund is to

maintain a moderate current income and to achieve an above average growth in principal over the long-term in excess of inflation. This objective can be obtained through a well-diversified portfolio.

Permanently restricted net assets consist of two donor restricted endowment funds for which

the income and gains are used to support the following two purposes:

1) a trust to be maintained in perpetuity to support the Girls Ranch operations. 2) a trust to be maintained in perpetuity to support staff development.

Accumulated earnings on these permanently restricted endowment funds are classified as

temporarily restricted until appropriated for expenditures for the intended purpose. The Investment Committee of the Board of Trustees of the Foundation oversees the

administration of and the distribution of the endowment funds. Decisions about individual assets must be made as part of an overall investment strategy and

investments must be diversified. The institution, subject to the intent of the donor expressed in a gift instrument, “may appropriate for expenditure or accumulate so much of an endowment fund as the institution determines prudent for the uses, benefits, purposes, and duration for which the endowment fund is established. The institution must act in good faith, with the care of an ordinarily prudent person in a like position would exercise under similar circumstances.”


DECEMBER 31, 2015 AND 2014 __________

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11. Permanently Restricted Net Assets and Endowment Funds – Continued The Foundation’s endowment net assets by type of fund and related changes consist of the

following as of:

Temporarily Permanently

Restricted Restricted Total

Endowment net assets,

beginning of year $ 399,064 $ 1,692,346 $ 2,091,410

Investment income, net 39,370 - 39,370

Net appreciation (depreciation)

of investments (58,347) - (58,347)

Appropriation of endowment

assets for expenditure (103,724) - (103,724)

Endowment net assets,end of year $ 276,363 $ 1,692,346 $ 1,968,709

Endowment net assets,

beginning of year $ 392,513 $ 1,692,346 $ 2,084,859

Investment income, net 32,511 - 32,511

Net appreciation (depreciation)

of investments 74,496 - 74,496

Appropriation of endowment

assets for expenditure (100,456) - (100,456)

Endowment net assets,end of year $ 399,064 $ 1,692,346 $ 2,091,410

December 31, 2015:

December 31, 2014:

12. Tax-Deferred Annuity Plan The Ranch has entered into a tax-deferred annuity plan under Section 403(b) of the Internal

Revenue Code. Employees may make contributions to the plan up to the maximum amount allowed by the Internal Revenue Code if they wish. However, the Ranch does not match any amounts contributed to this plan, and therefore has no expenses to this plan during the years ended December 31, 2015 and 2014.


DECEMBER 31, 2015 AND 2014 __________

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13. Concentrations of Credit Risk Arising from Cash Deposits in Excess of Insured Limits The Organizations have a significant concentration of cash deposited in several financial

institution s. The balance in the Organizations’ bank accounts as reflected in the bank records, are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 as of December 31, 2015 and 2014. At December 31, 2015, the cash balances exceeded the FDIC limit by $37,593. At December 31, 2014, the cash balances did not exceed the FDIC limit.

The investments held by the Organizations are insured by the Securities Investor Protection

Corporation (SIPC). The SIPC insures up to $500,000 in each institution. At December 31, 2015 and 2014, the investments exceeding the SIPC limit totaled $9,365,854 and $9,942,316 , respectively .

14. Subsequent Events Subsequent events have been evaluated through March 1, 2016, which is the date of the

financial statements were available to be issued. The Ranch entered into a contract to purchase property (land) adjacent to its current location.

The purchase price of the property is $1,250,000 and the closing of the purchase of the property is scheduled for June 30, 2016. A $20,000 escrow payment in accordance with the purchase contract was made in December 2015.

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SUPPLEMENTAL INFORMATION


30

SUMMARY COMBINED STATEMENT OF ACTIVITIES FOR THE YEAR ENDED DECEMBER 31, 2015

__________


Unrestricted Restricted Restricted Combined

Support and revenue:

Public support contributions $ 3,231,550 $ 1,569,985 $ - $ 4,801,535

Fundraising revenues, net of direct expense 115,537 - - 115,537

Program service revenue 180,226 - - 180,226

Investment income 75,379 156,090 - 231,469

Realized and unrealized loss on investments (95,260) (228,136) - (323,396)

Gain on sale of property and equipment

and other assets 2,028 - - 2,028

Change in value of charitable gift annuity (18,038) - - (18,038)

Other income 15,762 - - 15,762

Total support and revenue 3,507,184 1,497,939 - 5,005,123

Net assets released from restrictions and

transfers of net assets:

Transfers of net assets 360,334 (360,334) - -

Satisfaction of program restrictions 770,296 (770,296) - -

Total support, revenue and net assets

released from restrictions 4,637,814 367,309 - 5,005,123

Expenses:

Program services:

Counseling 915,436 - - 915,436

Home Therapy 2,261,709 - - 2,261,709

Education 841,606 - - 841,606

Total program services 4,018,751 - - 4,018,751

Supporting services:

Management and general 574,575 - - 574,575

Fundraising 480,077 - - 480,077

Total supporting services 1,054,652 - - 1,054,652

Total expenses 5,073,403 - - 5,073,403

Increase (decrease) in net assets (435,589) 367,309 - (68,280)

Net assets, beginning of year 16,668,335 6,865,150 1,692,346 25,225,831

Net assets, end of year $ 16,232,746 $ 7,232,459 $ 1,692,346 $ 25,157,551


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SUMMARY COMBINED STATEMENT OF ACTIVITIES FOR THE YEAR ENDED DECEMBER 31, 2014

__________


Unrestricted Restricted Restricted Combined

Support and revenue:

Public support contributions $ 3,078,292 $ 1,176,188 $ - $ 4,254,480

Fundraising revenues, net of direct expense 130,545 - - 130,545

Program service revenue 174,996 - - 174,996

Investment income 82,776 120,856 - 203,632

Realized and unrealized gain on investments 135,311 271,335 - 406,646

Loss on sale of property and equipment

and other assets (11,327) - - (11,327)

Change in value of charitable gift annuity (17,473) - - (17,473)

Other income 16,623 - - 16,623

Total support and revenue 3,589,743 1,568,379 - 5,158,122

Net assets released from restrictions and

transfers of net assets:

Transfers of net assets 554,839 (554,839) - -

Satisfaction of program restrictions 866,693 (866,693) - -

Total support, revenue and net assets

released from restrictions 5,011,275 146,847 - 5,158,122

Expenses:

Program services:

Counseling 817,089 - - 817,089

Home Therapy 2,115,788 - - 2,115,788

Education 781,855 - - 781,855

Total program services 3,714,732 - - 3,714,732

Supporting services:

Management and general 522,722 - - 522,722

Fundraising 432,286 - - 432,286

Total supporting services 955,008 - - 955,008

Total expenses 4,669,740 - - 4,669,740

Increase in net assets 341,535 146,847 - 488,382

Net assets, beginning of year 16,326,800 6,718,303 1,692,346 24,737,449

Net assets, end of year $ 16,668,335 $ 6,865,150 $ 1,692,346 $ 25,225,831

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