| Assets | 2012 | 2011 |
|---|---|---|
| Cash and cash equivalents | 9,894,374 | 8,992,272 |
| Unconditional promises to give (less allowance for uncollectible promises of $571,064 and $197,528 in 2012 and 2011 respectively) |
20,109,853 | 9,765,271 |
| Contributions receivable from remainder trusts | 868,759 | 978,911 |
| Other receivables | 28,793 | 48,571 |
| Beneficial interest in perpetual trusts | 8,493,506 | 8,889,783 |
| Investments | 90,920,682 | 90,406,465 |
| Net investments in direct financing leases | 2,594,802 | 3,101,508 |
| Property & equipment, net | 14,794,183 | 12,876,755 |
| Cash surrender value | 392,027 | 394,645 |
| Prepaids | 19,780 | 19,500 |
| Other assets | 15,400 | 629,400 |
| Total assets | $ 148,132,159 | $ 136,103,081 |
| Liabilities | ||
|---|---|---|
| Current payables | 213,429 | 177,455 |
| Bonds payable | 11,433,442 | 12,322,179 |
| Annuity payment liability | 498,712 | 628,641 |
| Deferred income | 479,712 | 270,765 |
| Fair value of interest rate swap | 353,936 | 140,726 |
| Total liabilities | $ 12,979,231 | $ 13,539,766 |
| Net assets | ||
|---|---|---|
| Unrestricted | 14,159,630 | 16,976,026 |
| Temporarily restricted | 38,552,163 | 25,384,186 |
| Permanently restricted | 82,441,135 | 80,203,103 |
| Total net assets | $ 135,152,928 | $ 122,563,315 |
| TOTAL LIABILITIES AND NET ASSETS | $ 148,132,159 | $ 136,103,081 |
Growth in Total Assets
| Public support and revenues | 2012 | 2011 |
|---|---|---|
| Gifts, contributions and other | 27,003,529 | 17,106,764 |
| Investment income (loss) | (1,745,568) | 15,488,658 |
| Total Public Support and Revenues | $ 25,257,961 | $ 32,595,422 |
| Expenses | ||
|---|---|---|
| Total Program services | 9,964,510 | 6,628,040 |
| Total Supporting services | 2,507,429 | 2,793,907 |
| Total Expenses | $ 12,471,939 | $ 9,421,947 |
| Change in net assets before unusual items | 12,786,022 | 23,173,475 |
| Tranfer of assets to MCTC Foundation | (196,409) | -- |
| Change in net assets | 12,589,613 | 23,173,475 |
| Net assets beginning of year | 122,563,315 | 99,389,840 |
| NET ASSETS END OF YEAR | $ 135,152,928 | $ 122,563,315 |
Percentage Contribution by Donor Type
2012 Expenses
