ACDI/VOCA and U.S. Affiliates Financial Statements
Consolidated Balance Sheet
December 31, 2010 (With Comparative Totals For 2009)
Assets |
2010 | 2009 |
| Cash and Cash Equivalents (Note 2) | 24,305,027 | 23,080,095 |
| Cash Surrender Value of Life Insurance (Note 3) | 577,110 | 528,137 |
| Investment in Overseas Affiliates | 27,099,430 | 24,062,111 |
| Receivables, net (Note 5) | 9,330,997 | 9,688,583 |
| Other Assets | 506,394 | 332,884 |
| Inventory (Note 7) | 5,473,563 | 2,569,647 |
| Property and Equipment, net (Note 8) | 332,562 | 288,549 |
| 67,625,083 | 60,550,006 | |
Liabilities And Net Assets |
||
| Liabilities | ||
| Accounts payable and accrued expenses (Note 9) | 6,312,230 | 4,502,268 |
| Payable to Department of State | 0 | 2,002,220 |
| Refundable advances | 27,965,606 | 24,307,898 |
| Deferred rent | 489,268 | 596,407 |
| 34,767,104 | 31,408,793 | |
| Commitments and Contingencies (Notes 15, 16 & 18) | ||
| Net Assets (Note 11) | ||
| Unrestricted | 5,758,549 | 5,079,102 |
| Temporarily restricted | 27,099,430 | 24,062,111 |
| 32,857,979 | 29,141,213 | |
| $ 67,625,083 | $60,550,006 | |
| See Notes To Consolidated Financial Statements. |
Consolidated Statement of Activities
Year Ended December 31, 2010 (With Comparative Totals For 2009)
| 2010 | |||||
| Unrestricted | Temporarily | ||||
| ACDI/VOCA | Restricted | Total | 2009 Total | ||
| Support and revenue: | |||||
| Contracts and grants | 133,886,575 | 133,886,575 | 120,939,872 | ||
| In-kind support | 5,982,077 | 5,982,077 | 4,189,002 | ||
| Income (loss) from subsidiaries | 2,180,250 | 2,180,250 | (8,313,895) | ||
| Interest income | 6,195 | 6,195 | 61,805 | ||
| Contributions | 40,755 | 40,755 | 50,637 | ||
| Other | 107,215 | 107,215 | 12,608 | ||
| Total support and revenue | 140,022,817 | 2,180,250 | 142,203,067 | 116,940,029 | |
| Expenses: | |||||
| Overseas program expenses | 119,383,284 | 119,383,284 | 107,465,082 | ||
| General and administrative | 19,960,086 | 19,960,086 | 16,677,795 | ||
| Total expenses | 139,343,370 | 139,343,370 | 124,142,877 | ||
| Change in net assets from operations | 679,447 | 2,180,250 | 2,859,697) | (7,202,848) | |
| Distribution of capital reserves | (58,942) | (58,942) | (1,135,606) | ||
| Currency translation | (238,597) | (238,597) | (564,423) | ||
| Contributed investment | 17,796,397 | ||||
| Change in net assets | 679,447 | 1,882,711 | 2,562,158 | 8,893,520 | |
| Net assets: | |||||
| Beginning | 5,079,102 | 24,062,111 | 29,141,213 | 20,247,693 | |
| Acquisition of subsidiary | 1,154,608 | 1,154,608 | |||
| Ending | $5,758,549 | $27,099,430 | $32,857,979 | $29,141,213 | |
