The schedules of unrestricted, board designated net assets and the schedules of temporarily
restricted net assets shown on pages 20-23 are presented for purposes of additional analysis and are not a required part of the financial statements.
Temporarily
restricted net assets include net assets subject to donor-imposed stipulations that may or will be met by actions of the Society and/or the passage of time.
McGovern ($246) -- $6,900 Award Lectureship Endowment MLA Disaster Relief $5,404 $850 -- Fund Scholarship Endowment ($12,941) -- $15,501 Section Project of the $858 -- -- Year Award Endowment Shaping Our Future $8,598 -- $2,881 Endowment Special $22,211 $135,005 -- Purpose / Librarians without Borders[R] Special $65,000 -- -- Purpose/MLA/NLM Spectrum Scholarships Total, temporarily $360,428 $141,206 $73,117
restricted net assets Permanently
restricted net assets: Ysabel Bertolucci MLA $26,868 $1,976 -- Annual Meeting Grant Endowment Estelle Brodman Award $29,248 $250 -- for the Academic Medical Librarian of the Year Endowment Naomi C.
Temporarily
restricted net assets released from restriction consist of the following for the years ending April 30:
Many bequests are restricted, as evidenced by the large amount of permanently
restricted net assets held by not-for-profit (NFP) organizations.
117 Total Current Liabilities $388,470 LONG-TERM LIABILITIES Postretirement health benefits obligations $136,275 NET ASSETS Unrestricted net assets 340,778 Temporarily
restricted net assets Life members net assets -0- Total Net Assets $865,523 TOTAL LIABILITIES AND NET ASSETS $865,523 TOTAL REVENUE $1,385,613 TOTAL EXPENSES $1,915,432 REVENUE OVER EXPENSE AND SUPPORT $(529,819) Table 1.
2 million and temporarily
restricted net assets declined $632,000.
Temporarily
restricted net assets are those whose use has been restricted or that have been limited by donors to a specific time period or purpose.
Temporarily
Restricted Net Assets are available as follows at July 31, 2011: RI Founding Donor Fund 247,844 Fosters Charitable 379,835 Purpose-Restricted Contributions 68,466 Appreciation of Restricted Funds 195,313 Grants Fund 1,586,719 Campaign for CLF 2,123,164 $4,601,341 Permanently
Restricted Net Assets are as follows at July 31, 2011: The advocates Endowment 952,545 Urgent Action Fund 494,189 Beneficial Interest in Trust 158,418 The Brush Fund 130,121 Dave Cavers Fund 453,355 Keith Lane Miller, Esq.
Last year, CUNA's
restricted net assets declined $7.
117, the Association is required to report information regarding its financial position and activities according to three classes of net assets: unrestricted net assets, temporarily
restricted net assets, and permanently
restricted net assets.
It is no accident that the term restricted fund balance so closely resembles the term
restricted net assets used in the context of governmentwide financial reporting.
