ASSETS

2007

2006

Cash

$138,815

$104,731

Cash - restricted for programs in Bolivia

479,377

Investments - Restricted for programs in Bolivia

536,471

Investments - unrestricted

267,071

266,981

Prepaid expenses

6,324

5,226

Contributions receivable

1,265,024

2,326,753

Inventory – medical supplies

768,777

206,626

Inventory – crafts

5,972

5,610

Property held for sale

140,000

Deposit on airplane

25,575

Vehicle, less accumulated depreciation of $3,800 in 2007 and $2,200 in 2006

4,200

5,800

$3,101,135

$3,458,198

LIABILITIES AND NET ASSETS

$8,307

$2,574

Accounts payable and accrued expenses

2,501

15,411

Accrued payroll and related

100,000

Note payable

110,808

17,985

Total liabilities

Net assets:

477,149

356,363

Unrestricted

2,513,178

3,083,850

Temporarily restricted

2,990,327

3,440,213

Total net assets

$3,101,135

$3,458,198

2007

Temporarily

Unrestricted

restri cted

Total

2006

Revenues and support:

Contributions

$59,054

$347,729

$406,783

$1,010,337

Contributions – in kind medical surplus, transportation and related

88,000

1,132,756

1,220,756

939,273

Contributions – in kind

151,040

–

151,040

Craft income

18,646

–

18,646

16,480

Interest income

30,133

–

30,133

37,694

Gain/(loss) on investments

2,200

2,200

(1,178

)

Miscellaneous

–

–

–

2,847

Net assets released from restrictions

2,051,157

(2,051,157

)

Total revenues and support

2,400,230

(570,672

)

1,829,558

2,005,453

Expenses:

Program services:

Medical surplus

914,720

–

914,720

1,287,285

Community clinic

486,092

–

486,092

576,079

Environmental health/basic services, schools and teacher housing

305,337

–

305,337

221,772

Emergency air response

117,645

–

117,645

16,001

Agricultural water reservoirs

353,565

–

353,565

248,318

2,177,359

–

2,177,359

2,349,455

Management and general

36,730

–

36,730

24,944

Fundraising

65,355

–

65,355

32,302

Total expenses

2,279,444

–

2,279,444

2,406,701

Change in net assets

120,786

(570,672

)

(449,886

)

(401,248

)

Net assets at beginning of year

356,363

3,083,850

3,440,213

3,841,461

Net assets at end of year

$477,149

$2,513,178

$2,990,327

$3,440,213

2007

Program
services

Management
and general

Fundraising

Total

2006

Salaries

$82,248

$15,599

$43,960

$141,807

$124,024

Payroll taxes

12,260

920

2,145

15,325

12,763

Other benefits

19,950

1,496

3,491

24,937

18,684

Total payroll expense

114,458

18,015

49,596

182,069

155,471

Medical supplies – in kind

570,546

–

–

570,546

994,399

Transportation – in kind

88,000

–

–

88,000

20,000

Grants to Bolivia

1,283,639

–

–

1,283,639

1,132,697

Craft expense

–

–

13,248

13,248

8,974

Professional fees

21,102

7,500

584

29,186

18,253

Payroll fees

–

1,587

–

1,587

1,276

Office supplies

3,927

446

90

4,463

1,914

Telephone

5,087

578

116

5,781

6,706

Postage and shipping

1,283

146

29

1,458

2,579

Equipment and maintenance

12,994

1,477

295

14,766

4,489

Printing and publications

11,606

1,319

264

13,189

6,964

Travel

15,956

1,813

363

18,132

7,338

Storage

13,296

–

13,296

13,296

Insurance

1,222

139

28

1,389

1,133

Vehicle expense

2,710

308

62

3,080

7,259

Utilities

2,369

269

54

2,692

2,498

Office rent

15,840

1,800

360

18,000

8,250

Volunteer expenses

6,482

737

147

7,366

5,826

Depreciation expense

1,600

–

1,600

1,600

Miscellaneous

5,242

596

119

5,957

5,779

$2,177,359

$36,730

$65,355

$2,279,444

$2,406,701

2007

2006

Cash flows from operating activities:

Change in net assets

$(449,886

)

$(401,248

)

Adjustments to reconcile the change in net assets to net cash from operating activities:

Depreciation

1,600

1,600

Unrealized (gain)/loss on investments

(2,200

)

1,178

Donation of property held for sale

(140,000

)

Contributions receivable

1,061,729

369,511

Prepaid expenses

(1,098

)

(1,313

)

Inventory

(562,513

)

76,088

Accounts payable

5,733

2,061

Accrued payroll and related

(12,910

)

11,115

Net cash from operating activities

(99,545

)

58,992

Cash flows from investing activities:

(Increase) decrease in amounts held for Bolivia

536,471

(93,739

)

(Increase) decrease in other investments

2,110

(192,077

)

Deposit on airplane

(25,575

)

Net cash from investing activities

513,006

(285,816

)

Cash flows from financing activities:

Proceeds from note payable

100,000

Net cash from financing activities

100,000

Net increase (decrease) in cash

513,461

(226,824

)

Cash, beginning of year

104,731

331,555

Cash, end of year

$618,192

$104,731

Cash consists of:

Cash

$138,815

$104,731

Cash – restricted for programs in Bolivia

479,377

$618,192

$104,731