Statement of Support and Revenue, Expenses and Change in Net Assets
(Excerpted from Sabre's audited financial statements, prepared by Kerr Forster, P.C.)

Notes: [a] In 1996, Sabre adopted the Statement of Financial Accounting Standards (SFAS) Nos. 116, 117 and 124. SFAS No. 116 provides: ³Contributions are recognized when the donor makes a promise to give that is, in substance, unconditional, and are recorded as unrestricted, temporarily restricted, or permanently restricted, depending on the existence or nature of any donor restrictions.² Due to multi-year grants provided in 1995 and the adoption of the new accounting standards, Net Assets were restated and increased in the fiscal year endings 12/31/95. In 1996, Net Assets were then reduced by expenditures under those grants. [b] For tax and financial statement purposes, in-kind services and donated materials are reported as expended in the same year in which they are received. Therefore, inventory of books and materials is not carried on Sabre¹s audited financial statement. The amount of materials actually shipped in 1996 amounted to $8,137,314. The fair market value of inventory at year end was $9,391,427. [c] Of these expenditures, $126,000 relate to the Library and Information Technology Services. [d] Except for $1,400 in permanently restricted endowment, these figures refer to assets restricted temporarily.