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HomeMy WebLinkAbout12/2011 RECEIYED JAN 2 6 2012 ~outhohl fow~ NORTH FORK ANIMAL WELFARE LEAGUE INC FINANCIAL STATEMENTS DECEMBER 31, 2011 IRWIN & ODELL, CPAs LLC 6 Sterlington Commons Greenport, NY 11944 (631) 477-3011 (631) 477-9533 (Fax) January 17, 2012 Board of Directors North Fork Animal Welfare League Inc Southold, NY 11971 We have compiled the accompanying Statement of Financial Position - income tax basis of North Fork Animal Welfare League Inc as of December 31, 2011 and 2010 and the related Statement of Activities - income tax basis for the years then ended, in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants. The financial statements have been prepared on the accounting basis used by the Company for Federal income tax purposes, which is a comprehensive basis of accounting other than generally accepted accounting principles. A compilation is limited to presenting in the form of financial statements information that is the representation of management. We have not audited or reviewed the accompanying financial statements and, accordingly, do not express an opinion or any other form of assurance on them. Management has elected to omit substantially all of the disclosures required by generally accepted accounting principles. If the omitted disclosures were included in the financial statements, they might influence the user's conclusions about the Company's financial position, results of operations, and its cash flows. Accordingly, these financi~ ,~atements are not designed for those who are not informed about such matters. Partner, Irwin & Odell, CPAs LLC NORTH FORK ANIMAL WELFARE LEAGUE INC Balance Sheet As of December 31, 2011 ASSETS Current Assets Checking/Savings 1010 · Cash~SCNB General Checking 1015 · Capital One Checking 10t7. SCNB Money Market 1018 · Petty Cash Total Checking/Savings Dec 31, 11 Dec 31, 10 50,922.85 47,141.90 3,066.46 8,798.61 0.00 10,015.24 230.00 230.00 54,219.31 66,185.75 Other Current Assets 1020 · Wells Fargo. Regular 1030 · Wells Fargo-Restricted 1090 · Security Deposits 1095 · Prepaid Insurance 1100 * Due From Restricted -Troxel Total Other Current Assets 485,9~4.48 482,253.23 321,795.56 301,972.48 15,000.00 5,000.00 6,535.79 6,478.00 7,706.07 0.00 837,021.90 795,703.71 Total Current Assets 891,241.21 861,889.46 TOTAL ASSETS 891,241.21 861,889.46 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 2000 - Accounts Payable 2010 · Accounts Payable - EEVESC Total Accounts Payable 6,769.78 6,421.45 9,314.45 0.00 16,084.23 6,421.45 Other Current Liabilities 2050 - FICA/FWT Payable 2070 · Other Payroll Taxes Payable 2098 · Due to Fund Balance League Total Other Current Liabilities 0.00 21.00 263.32 375.18 7,708.07 0.00 7,969.39 396.18 Tots[ Current Liabilities 24,053.62 6,817.63 Total Liabilities 24,053.62 6,817~63 Equity 3000 - Fund Balance League 3200. Fund Balance Restrictsd-Troxel Total Equity 553,098.10 553,099.35 314,089.49 301,972.48 867,187.59 855,071.83 TOTAL LIABILITIES & EQUITY 89t,24t.2t 86t,889.46 Page 1ofl 7:49 AM 01126112 Accrual Basis NORTH FORK ANIMAL WELFARE LEAGUE INC Profit & Loss January through December 2011 Resticted -Grant Restricted-Troxel Unrestricted TOTAL Income 40t4 ' Shelter Donations 0.00 0.00 0.00 0.00 82,048.61 9;',595.88 82,048.61 97,595.88 40t6 - Grants 0.00 10,000.00 ~).00 0.00 0.00 0.00 0.00 10,000.00 4016 · Bequests 0.00 0.00 0.00 0.00 50,820.38 110,000.00 50,820.38 110,000.00 4018, Shannon Trust Fund income 0.00 0.00 0.00 0.00 7,768.28 10,716.17 71768.28 10,716.17 4019 · Interest Income 0.00 15.24 12,567.54 11,865.82 13,787.78 7,151.33 26,355.32 19,032.39 4021 · Accrued Interest Paid 0.00 0.00 -96.88 -1,655.83 -206.25 -'[,779.85 -303.13 -3,435.68 4022 · Dividend Income 0.00 0.00 58.81 617.46 2,483.50 7,399.96 2,542.31 8,017.42 4023 · Net Gain(Loss) Stock Sales 0.00 0.00 7,293.61 56.26 7,674.14 3,430.91 14,967.75 3,487.17 4024 · Fundraising Income 0.00 0.00 0.00 0.00 29,488.00 2~1,260.00 29,488.00 21,260.00 4026 · Dogs 0.00 0.00 0.00 0.00 1,000.00 0.00 1,000.00 0.00 4030 · Dogs-Spayed & Neutered 0.00 0.00 0.00 0.00 1,420.00 1,629.00 1,420.00 1,629.00 4032. Cats 0.00 0.00 0.00 0.00 10.00 100.00 10.00 100.00 4034 · Cats-Spayed & Neutered 0.00 0.00 0.00 0.00 435.00 950.00 435.00 950.00 4036 · Memorials 0.00 0.00 0.00 0,00 7,566.00 13,376.25 7,566.00 13,376.25 4038 · Guardian Angels 0.00 0.00 0.00 0.00 1,350.00 3,165.00 1,350.00 3,165.00 4040 · Rabies Clinic 0.00 0.00 0.00 0.00 139.00 419.00 139.00 4t9~00 4100 · Town Income 0.00 0.00 0.00 0.00 201,829.14 195,492.03 201,829.14 195,492.03 4280 · Miscellaneous Income 0.00 0.00 0.00 0.00 1,239.00 975.00 1,239.00 975.00 4288 · Unrealized gain(loss) on Invest 0.00 0.00 0.00 0.00 0,00 0.00 0.00 0.00 4290 · Restriction Satisfied 0.00 -10,015.24 0.00 0.00 0.00 10,015.24 0.00 0.00 Total Income 0.00 0.00 19,823.08 10,883.71 408,852.58 481,895.92 428,675.66 492,779.63 Expense 6000 · Salaries 0.00 0.00 0.00 0.00 202,298.32 207,934.47 202,298.32 207,934.47 6010 · Payroll Taxes 0.00 0.00 0.00 0.00 16,731.49 18,469.89 16,731.49 18,469.89 8012 · Employee Benefits 0.00 0.00 0.00 0.00 28,889.03 23,580.04 28,889.03 23,580.04 5014 · Kennel Supplies 0.00 0.00 0.00 0.00 24,704.27 23,159,19 24,704.27 23,159.19 50t6 · Dog Veterinarian Fees 0.00 0.00 0.00 0.00 17,937.88 1~,076.89 17,937.88 t8,076.89 8017 · Parvo Puppy Treatment 0.00 0.00 0.00 0.00 12,314.45 0.00 12,314.45 0.00 8018 · Repairs & Maintenance 0.00 0.00 0.00 0.00 1,839.91 1,322.58 1,839.91 1,322.58 8020 · Auto Expense 0.00 0.00 0.00 0.00 3,968.69 4,029.06 3,968.69 4,029.06 5~22 - Travel Expense 0.00 0.00 0.00 0.00 486.51 0.00 486.51 0.00 8024 · Telephone 0.00 0.00 0.00 0.00 2,186.93 2,100.08 2,186.93 2,100.08 8028 · Office Expenses 0.00 0.00 0.00 0.00 5,884.20 8,016,04 5,884.20 6,016.04 5030 · Insurance 0.00 0.00 0.00 0.00 13,850.55 13,511.06 13,850,55 13,511.06 8032 · Advertising 0.00 0.00 0.00 0.00 281.00 317.00 281.00 317.00 8033 · Architectural Services 0.00 0.00 5,891.51 0.00 0.00 0.00 5,891.51 0.00 5034 · Legal Fees 0.00 0.00 1,814.56 0.00 24,327.01 8,679.52 26,141.57 6,679.52 5035 · Accounting Expense 0.00 0.00 0.00 0.00 2,788.60 2,500.00 2,788.60 2,500.00 6036 · Bookkeeping 0.00 0.00 0.00 0.00 7,800.00 7,200.00 7,800.00 7,200.00 5037 · Licenses & Permits 0.00 0.00 0.00 0.00 125.00 572.00 125.00 572.00 5038 · Cat Medical & Supplies 0.00 0.00 0.00 0.00 12,018.47 10,386.28 12,018.47 10,386.28 5039 · Cat Food 0.00 0.00 0.00 0.00 13,233.95 !),534.50 13,233.95 9,534.50 5040 · Bank/Investment Fees 0.00 0.00 0.00 0.00 186.06 247.05 186.06 247.05 5041 · Credit Card Fees 0.00 0.00 0.00 0.00 385.07 720.93 385.07 720.93 Page 1 7:49 AM 01126112 Accrual Basis 5044 - Garbage 5046 * Fundraising Expenses 5050 * Mailings/Web Site 5052 · Education 5060 · Vehicles 5065 · Fences 5070 · Miscellaneous Expenses Total Expense Net income NORTH FORK ANIMAL WELFARE LEAGUE INC Profit & Loss January through December 2011 Resticted -Grant Restricted-Troxel Unrestricted TOTAL J~n'~e~ :1~-' --~Jan - De~-~ Jan - Dec tl Ja--~ ~-bec 1--0 J~l - D~ec 11 J-an -~)e~10 Jan - D~c ~11 J a~'[-D~c 1--~- 0.00 0.00 0.00 0.00 2,346.00 2,496.00 2,346.00 2,496.00 0.00 0.00 0.00 0.00 5,242.95 5,175.56 5,242.95 5,175.56 0.00 0.00 0.00 0.00 1,575.07 3~023.09 1,575.07 3,02,~ 09 0.00 0.00 0.00 0.00 6,273.20 1,832.03 6,273.20 1,832.03 0.00 0.00 0.00 0.00 0.00 3,,000.00 0.00 3,000.00 0.00 0.00 0.00 0.00 0.00 2,418.00 0.00 2,418.00 0.00 0.00 0.00 0.00 1,179,22 2~478.80 1,179.22 2,478,80 0.00 0.00 7,706.07 0.00 408,853.83 376,780.06 416,559.90 376,780,06 0.00 0.00 12,117.01 t0,883.71 -1.25 105,115.86 12,115.76 115,999.57 Page 2