Friends of the Museums of Florida History, Inc

Financial Report

Balance Sheet Prev Year Comparison
As of December 31, 2010
Dec 31, 10 Dec 31, 09
Assets    
Current Assets    
Checking/Savings    
Wachovia - Restricted Account 62,448.52 66,060.35
Wachovia - FMFH 32,523.60 20,333.58
Wachovia - Florida Heritage Mag 8,694.35 8,694.35
Wachovia - Florida History Shop 51,655.14 62,574.97
Wachovia - Knott House 7,409.25 13,021.82
Cash Drawer 650.00 650.00
PayPal Account 250.00 250.00
Total Checking/Savings 163,630.86 171,585.07
Accounts Receivable
Accounts Receivable 92.54 0.00
Total Accounts Receivable 92.54 0.00
Other Current Assets
Tenant Advance for Equipment -198.42 2,579.81
Inventory 66,592.41 69,269.59
Total Other Current Assets 66,393.99 71,849.40
Total Current Assets 230,117.39 243,434.47
Fixed Assets
Accumulated Depreciation -52,422.12 -48,594.24
Equipment 65,302.39 65,302.39
Renovations 8,599.15 8,599.15
Total Fixed Assets 21,479.42 25,307.30
Other Assets
James Knott Maint. Endowment-W 144,458.93 127,817.14
JCharles Knott Cultural Endow-W 433,975.34 395,887.55
Total Other Assets 578,434.27 523,704.69
TOTAL ASSETS 830,031.08 792,446.46
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Other Current Liabilities
Payroll Liabilities 7.44 0.00
Sales Tax Payable -9.93 1,545.66
Total Other Current Liabilities -2.49 1,545.66
Total Current Liabilities -2.49 1,545.66
Total Liabilities -2.49 1,545.66
Equity
Retained Earnings 47,037.44 0.00
Temp Restricted Net Assets 480,524.41 480,524.41
Unrestricted Net Assets 259,855.99 259,855.99
Net Income 42,615.73 50,520.40
Total Equity 830,033.57 790,900.80
TOTAL LIABILITIES & EQUITY 830,031.08 792,446.46
Profit & Loss by Class
July through December 2010
Gift Shops Knott House Membership MFH Total
Ordinary Income/Expense
Income
Contribution Income 0.00 664.73 0.00 6,229.13 6,893.86
CSO Administration Fund 0.00 0.00 0.00 -30.30 -30.30
Exhibit Income 0.00 0.00 0.00 9,975.75 9,975.75
Education Program Income 0.00 258.00 0.00 14,243.35 14,501.35
Facility Use/Reception Income 0.00 0.00 0.00 4,505.21 4,505.21
Gift Shop Sales Income 94,617.54 63.50 0.00 51.50 94,732.54
Investment Income 0.00 41,849.70 0.00 0.00 41,849.70
Membership Income 0.00 0.00 2,796.02 0.00 2,796.02
Parking Income 0.00 0.00 0.00 2,623.75 2,623.75
Special Event Income 0.00 0.00 0.00 2,780.00 2,780.00
Volunteer Program Income 0.00 0.00 0.00 30.00 30.00
Total Income 94,617.54 42,835.93 2,796.02 40,408.39 180,657.88
Cost of Goods Sold
Change in Inventory Adjustment -4,337.63 0.00 0.00 0.00 -4,337.63
Cost of Goods Sold 0.00 0.00 0.00 0.00 0.00
Purchases 46,404.38 0.00 0.00 0.00 46,404.38
Total COGS 42,066.75 0.00 0.00 0.00 42,066.75
Gross Profit 52,550.79 42,835.93 2,796.02 40,408.39 138,591.13
Expense
Education Program Expenses 0.00 2,980.39 0.00 10,480.52 13,460.91
Exhibit Expenses 0.00 0.00 0.00 13,078.26 13,078.26
General & Administrative Exp. 60,013.34 1,231.44 0.00 3,245.07 64,489.85
Knott House Restricted End. 0.00 1,132.00 0.00 0.00 1,132.00
Membership Expenses 0.00 0.00 0.00 1,710.00 1,710.00
Special Event Expenses 0.00 0.00 0.00 1,149.63 1,149.63
Volunteer Program 0.00 0.00 0.00 1,173.31 1,173.31
Total Expense 60,013.34 5,343.83 0.00 30,836.79 96,193.96
Net Ordinary Income -7,462.55 37,492.10 2,796.02 9,571.60 42,397.17
Other Income/Expense
Other Income
Interest 0.00 0.00 0.00 78.60 78.60
Sales Tax Commission 139.96 0.00 0.00 0.00 139.96
Total Other Income 139.96 0.00 0.00 78.60 218.56
Net Other Income 139.96 0.00 0.00 78.60 218.56
Net Income -7,322.59 37,492.10 2,796.02 9,650.20 42,615.73
Profit & Loss by Class
July through December 2009
Gift Shops Knott House Membership MFH Total
Ordinary Income/Expense
Income
Contribution Income 0.00 490.78 0.00 8,417.71 8,908.49
CSO Administration Fund 0.00 0.00 0.00 48.60 48.60
Exhibit Income 0.00 0.00 0.00 7,806.01 7,806.01
Education Program Income 0.00 257.75 0.00 4,478.20 4,735.95
Facility Use/Reception Income 0.00 0.00 0.00 5,302.53 5,302.53
Gift Shop Sales Income 79,837.94 127.20 0.00 0.00 79,965.14
Investment Income 0.00 57,013.81 0.00 0.00 57,013.81
Membership Income 0.00 0.00 2,410.10 0.00 2,410.10
Parking Income 0.00 0.00 0.00 1,810.25 1,810.25
Total Income 79,837.94 57,889.54 2,410.10 27,863.30 168,000.88
Cost of Goods Sold
Change in Inventory Adjustment -4,294.10 0.00 0.00 0.00 -4,294.10
Purchases 36,131.38 0.00 0.00 0.00 36,131.38
Total COGS 31,837.28 0.00 0.00 0.00 31,837.28
Gross Profit 48,000.66 57,889.54 2,410.10 27,863.30 136,163.60
Expense
Education Program Expenses 0.00 3,117.12 0.00 13,042.85 16,159.97
Exhibit Expenses 0.00 0.00 0.00 6,444.10 6,444.10
Facility Use/Receptions Exp. 0.00 0.00 0.00 885.86 885.86
General & Administrative Exp. 54,013.20 0.00 0.00 6,041.85 60,055.05
Knott House Restricted End. 0.00 875.70 0.00 0.00 875.70
Membership Expenses 0.00 0.00 1,643.70 0.00 1,643.70
Volunteer Program 0.00 0.00 0.00 37.50 37.50
Total Expense 54,013.20 3,992.82 1,643.70 26,452.16 86,101.88
Net Ordinary Income -6,012.54 53,896.72 766.40 1,411.14 50,061.72
Other Income/Expense
Other Income
Interest 0.00 0.00 0.00 325.10 325.10
Sales Tax Commission 133.58 0.00 0.00 0.00 133.58
Total Other Income 133.58 0.00 0.00 325.10 458.68
Net Other Income 133.58 0.00 0.00 325.10 458.68
Net Income -5,878.96 53,896.72 766.40 1,736.24 50,520.40
Profit & Loss Prev Year Comparison
July through December 2010
Jul - Dec 10 Jul - Dec 09
Ordinary Income/Expense
Income
Contribution Income 6,893.86 8,908.49
CSO Administration Fund -30.30 48.60
Exhibit Income 9,975.75 7,806.01
Education Program Income 14,501.35 4,735.95
Facility Use/Reception Income 4,505.21 5,302.53
Gift Shop Sales Income 94,732.54 79,965.14
Investment Income 41,849.70 57,013.81
Membership Income 2,796.02 2,410.10
Parking Income 2,623.75 1,810.25
Special Event Income 2,780.00 0.00
Volunteer Program Income 30.00 0.00
Total Income 180,657.88 168,000.88
Cost of Goods Sold
Change in Inventory Adjustment -4,337.63 -4,294.10
Cost of Goods Sold 0.00 0.00
Purchases 46,404.38 36,131.38
Total COGS 42,066.75 31,837.28
Gross Profit 138,591.13 136,163.60
Expense
Education Program Expenses 13,460.91 16,159.97
Exhibit Expenses 13,078.26 6,444.10
Facility Use/Receptions Exp. 0.00 885.86
General & Administrative Exp. 64,489.85 60,055.05
Knott House Restricted End. 1,132.00 875.70
Membership Expenses 1,710.00 1,643.70
Special Event Expenses 1,149.63 0.00
Volunteer Program 1,173.31 37.50
Total Expense 96,193.96 86,101.88
Net Ordinary Income 42,397.17 50,061.72
Other Income/Expense
Other Income
Interest 78.60 325.10
Sales Tax Commission 139.96 133.58
Total Other Income 218.56 458.68
Net Other Income 218.56 458.68
Net Income 42,615.73 50,520.40