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Statement of Activities 1998

 

Unrestricted

Restricted [a]

Total

Revenues, gains & other support
   Contributions & grants
      Cash 32,021 734,167 766,188
      In-kind books & materials 21,242,124 [b]   21,242,124
      In-kind services 99,467 [b]   99,467
   Other revenues 26,147   26,147
   Investment income 14,342   14,342
   Net assets released from restrictions 587,177 (587,177) 0
 
Total revenues, gains & other support 22,001,278 146,990 22,148,268
 
Operating expenses
   Programs
      Scientific Assistance (Book Programs) 361,080   361,080
      Library & Information Technology 158,587   158,587
      Philosophy 26,080   26,080
      Fellowship 380   380
Total cash expenditures 546,127 [c]   546,127
      In-kind books & materials 21,242,124 [b]   21,242,124
      In-kind services 84,370 [b]   84,370
Total program services 21,872,621   21,872,621
 
Support Services
      General and administrative 84,131   84,131
      Fundraising 17,516   17,516
      In-kind services 15,097 [b]   15,097
Total support services 116,744   116,744
 
Total operating expenses 21,989,365   21,989,365
 
Change in net assets 11,913 146,990 158,903
Net assets - beginning of year 124,726 443,245 [d] 567,971
 
Net assets - end of year 136,639 590,235 [d] 726,874



The table below is a comparative summary of inventory transactions:


 

1999

1998

Value of books and materials received 19,103,026 21,242,124
Value of books and materials shipped (17,854,711) (11,576,790)
Inventory reductions & adjustments 29,925 (22,478)
Value of inventory at year end 18,470,713 17,192,473
Notes: [a] SFAS No. 116 provides: “Contributions 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 the nature of any donor restrictions.” [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 are not carried on Sabre’s audited statement of financial position. [c] Of this total, confirmed by audit, the component relating to the Library and Information Technology Services program was estimated by management. [d] Except for $1,400 permanently restricted endowment, these figures refer to assets restricted temporarily.
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