Pennsylvania Credit Union Association

Financial Statements

Pennsylvania Credit Union Foundation, Inc.
Balance Sheet

December 31, 2011 (unaudited)

CURRENT ASSETS
CASH EQUIVALENTS UNRESTRICTED

Mid-Atlantic S1 (Share Draft)
Mid-Atlantic S4 (Overnight Inv)
Members 1st Operating Share Draft
Members 1st - Savings
CDs

$3,728
110,707
121,877
2,256
302,791
Total Cash Equivalents Unrestricted
$541,359
CASH EQUIVALENTS RESTRICTED
Members 1st - Restric. Share Draft
Members 1st - Restric. Savings
$10,288
25
Total Cash Equivalents Restricted $10,313
RECEIVABLES
Total Receivables
$0
OTHER CURRENT ASSETS
 
Prepaid Insurance $728
Total Other Current Assets $728
TOTAL ASSETS $552,400
LIABILITIES & FUND BALANCE
LIABILITIES
Accounts Payable
Restricted Funds (In/Out)
Future Salary Payable
I/C Due to PSI
I/C Due to PCUA
$4,800
10,262
4,900
199
4,366
Total Accounts Payable $24,527
TOTAL LIABILITIES $24,527
FUND BALANCE
Fund Balance - General $606,046
TOTAL FUND BALANCE $606,046
NET GAIN OR (LOSS) ($78,173)
TOTAL LIABILITIES & FUND BALANCE $552,400

Consolidated Statement of Revenue & Disbursements

December 31, 2011 (unaudited)

REVENUE
Investments/Interest
Direct Contributions
Special Events Contributions
Major Contributor
Employee Contributions
CIF
Advertising
Special Events Sponsors
Miscellaneous
$4,818
1,266
21,122
131,401
7,152
11,679
2,445
36,090
5,250
TOTAL REVENUE
$221,223
EXPENSES
Personnel Costs
Travel
Training
Governance Expenses
Professional Services
Telephone
Postage
Supplies & Services
Researcj & Development
Marketing Expense
Fundraising Expense
Operational Expense
Miscellaneous Expense
$45,741
1,855
1,022
2,104
4,800
273
3,112
0
9,216
1,804
10,812
164
373
TOTAL OPERATING EXPENSES $81,276
OPERATING GAIN (LOSS) $139,947
NON-OPERATING EXPENSES  
Project Grants
Disaster Relief Grants
$111,120
107,000
Total Non-Operating Expenses $218,120
Net Gain (Loss) Before Taxes
($78,173)
Corporate Tax $0
Net Gain (Loss) After Taxes ($78,173)

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For more information about the Foundation, call or e-mail Joseph Wambach, Executive Director at 800-932-0661, ext. 5244, or write:

Pennsylvania Credit Union Foundation
4309 North Front Street
Harrisburg, PA  17110

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