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Razoo Foundation: Audited Financial Statements For 2014-2015.pdf

RF-2015-Audited-FS.pdf
Preview of Razoo Foundation: Audited Financial Statements for 2014-2015
🔗 Source: mightycausefoundation.org
📊 Size: 188 KB
👤 Author: vdolinger
⬇️ Downloads: 130

Summary

The Razoo Foundation's audited financial statements for December 31, 2015, and 2014, include the following components:

1. Independent Auditor’s Report: The auditor confirms that the financial statements present a fair view of the Foundation's financial position as of December 31, 2015, and 2014, in accordance with U.S. GAAP.

2. Statement of Financial Position:
- As of December 31, 2015, net assets were $6,698,916.
- As of December 31, 2014, net assets were $7,245,765.

3. Statement of Activities and Changes in Net Assets:
- For the year ended December 31, 2015, total revenues were $41,449,178 with expenses totaling $41,996,027, resulting in a decrease in net assets of $546,849.
- For the year ended December 31, 2014, total revenues were $50,828,840 with expenses totaling $53,346,252, leading to a decrease in net assets of $2,517,412.

4. Statement of Cash Flows:
- For the year ended December 31, 2015, there was a net cash used by operating activities amounting to $708,468.
- For the year ended December 31, 2014, net cash used by operating activities was $2,623,266.

The notes to financial statements provide additional details on the organization and significant accounting policies. The Foundation operates as a public charity managing donor-advised funds, established in April 2010.

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Description

Statements of Cash Flows for the years then ended. These financial statements are the responsibility of the Razoo Foundation's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material

Technical Information

  • File Format: PDF
  • File Size: 188 KB
  • Pages: 18
  • Language: EN
  • Author: vdolinger
  • Total Downloads: 130
  • Last Updated: 4 months ago

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