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Financials

Financial Information

The Foundation has adopted the Financial Accounting Standards Board, Accounting Standards Codification 958-205. Under FASB ASC -58-205, The Foundation is required to report information regarding its financial position and activities according to three classes of nest assets; unrestricted net assets, temporarily restricted net assets, permanently restricted net assets.

The Foundation reports it resources as unrestricted support unless explicit donor, granter, or other outside party stipulations specify a use for the contributed cash and other assets.

Resources whose use by the Foundation is limited by donor, granter, or other outside party are reported as either temporarily or permanently restricted.  When the restriction expires, that is, when a stipulated time restriction ends, or purpose for restriction is accomplished, temporarily restricted net assets re reclassified to unrestricted net assets and reported in the statement of activities as net assets released from restrictions