IAF - Year 2000 Financial Results
The following information is an unaudited account of some of the highlights of the year 2000. Our fiscal year ends June 30 at which time a more detailed breakdown is required for IRS reporting.
IAF General Account
| Beginning balance January 1, 2000 | $ 6,077.18 | |
| Income, excluding deposits made to other accounts | 95,049.68 | |
Total balance & income |
$101,126.86 | |
| Less: | ||
| Distributions | $81,605.00 | |
| Expenses | 7,139.55 | |
Total distrib & expenses |
$ 88,744.55 | |
| Ending Balance December 31, 2000 | $ 12,382.31 |
Income to All IAF Accounts
| General Account (above) | $ 95,049.68 | |
| Guatemala Account | 17,400.00 | |
| Zambia Account | 266.94 | |
Total deposited to all accounts |
$112,716.62 | |
| Income sent direct to recipients | 18,900.00 | |
| All year 2000 income | $ 131,616.62 | |
| Total distributions including funds sent direct | $100,505.00 |
In the year 2001, all income will be deposited into the IAF General Account. From that account, income, including designated donations, will be distributed to the appropriate bank accounts. This will simplify the accounting and record keeping. This practice was started July 1, 2000, but was not strictly adhered to until January 1, 2001. All funds donated for Colombia were sent from the general account directly to Bishop Rhodes during the year.
During the year 2000 funds were distributed to Colombia, Guatemala, Lakota, India, South Africa, Torres Straits, Puerto Rico, Zambia and to the Umzi Wasi Tiyopiya. In addition to these cash distributions, $3500 was sent to meet required payments for the printing of El Himnario and for purchasing translation equipment to be used at our ACA meetings in the amount of $1,238, which funds were donated for that purpose.
Printing costs are the largest expense item which includes the printing of the newsletter. Postage is also a large outlay which includes quarterly mailings of approximately 1500 newsletters world wide and the mailing and shipping of book orders. Included in the expenses are the funds sent to The Arts Group for their share of the CD income.