VHWO, statement of activities. The Better Life Clinic is a VHWO that has three main programs:
Drug rehabilitation
Alcohol recovery
Weight control
Unrestricted public support received during the period was $35,000; revenues from membership services were $12,000. The following expenses and allocations to program and supporting services are shown for 20X0. Better Life elects to release donor restrictions for property, plant, and equipment over the useful life of the asset.
|
Distribution |
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|
Item |
Amount |
Drug Rehab. |
Alcohol Recovery |
Weight Control |
Fund Raising |
Gen. & Adm. |
|
|
Secretarial salary |
$ 5,000 |
100% |
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|
Office supplies |
6,000 |
20% |
10% |
10% |
10% |
50 |
|
|
Printing |
8,000 |
10 |
10 |
20 |
50 |
10 |
|
|
Depreciation (All depreciation |
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|
is on assets acquired |
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|
donor-restricted contributions.) |
4,000 |
20 |
20 |
20 |
40 |
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|
Instruction |
9,000 |
30 |
25 |
35 |
10 |
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|
Rent |
10,000 |
30 |
20 |
30 |
20 |
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Temporarily restricted net assets totaled $30,000 on January 1; the unrestricted net asset balance was $12,000. Prepare a statement of activities for the year.