,,,AM]ICAN BRO!RHOOD = ! BL,' ,,,T_/A AM]ICAN AC;N FUND = BL *N & ADULTS & T_/A BL *N & ADULTS AC;N FUND ( AM]ICA,' ,,F9ANCIAL ,,/ATE;TS ,,DECEMB] #CA1 #BJBC ,TRANSCRIB$ 9 ,,UEB = ! ,NA;NAL ,F$]A;N ( ! ,BL #BJJ ,EA/ ,WELLS ,/REET AT ,J]NIGAN ,PLACE ,BALTIMORE1 ,M>YL& #BABCJ-#DIIH ,9 #A ,VOLUME ,BRL PAGES T#A-T#B1 P#A-P#B1 & #A-#EH ,PR9T PAGES #A-B#AH T#A ,,,SPECIAL SYMBOLS US$ 9 ? VOLUME,' .= ,DOT LOCATOR = 8M5;N0 .=4 ,P]IOD1 DOT1 DECIMAL PO9T .=@S ,DOLL> SIGN .=@.< ,OP5+ TRANSCRIB]'S NOTE 9DICATOR .=@.> ,CLOS+ TRANSCRIB]'S NOTE 9DICATOR .=^7 ,BOLDFACE PASSAGE 9DICATOR .=^' ,BOLDFACE T]M9ATOR .=_4 ,BULLET .="< ,OP5+ P>5!SIS .="> ,CLOS+ P>5!SIS .=.1 ,ITALIC ^W 9DICATOR .=.7 ,ITALIC PASSAGE 9DICATOR .=.0 ,P]C5T SIGN .=.' ,ITALIC T]M9ATOR .=,' ,CAPITALS T]M9ATOR .=,- ,DA% .=,, ,CAPITALIZ$ ^W 9DICATOR .=,,, ,CAPITALIZ$ PASSAGE 9DICATOR ,,TRANSCRIB]',S ,,NOTES ,? VOLUME IS BRLD AC TO .7,! ,RULES ( ,UNIFI$ ,5GLI% ,BRL1 ,SECOND ,$I;N #BJAC2.' & .7,BRL ,=MATS3 ,PR9CIPLES ( ,PR9T-TO-,BRL ,TRANSCRIP;N1 #BJAF4.' ,TABLES >E BRLD Z LI/S & SEP>AT$ 9TO SEC;NS Z NE$$ TO FOLL[ PR9T =MAT4 ,R[ H1D+S >E BLOCK$ 9 CELL #E & COLUMN H1D+S 2G9 9 CELL #A4 ,ALL H1D+S >E REP1T$ = CL>;Y4 ,A COLON SEP>ATES H1D+S F TABLE 5TRIES4 ,A S]IES ( ?REE GUIDE DOTS 9DICATES A BLANK TABLE 5TRY4 ,DOLL> SIGNS H BE5 OMITT$ 9 ALL TABLES4 ,! NOTA;N 8,SEE ,A3OMPANY+ ,NOTES TO ,F9ANCIAL ,/ATE;TS0 APPE>S 9 PR9T AF EA* TABLE & HAS BE5 OMITT$ 9 BRL4 T#C ,TABLE ( ,3T5TS ,9DEP5D5T ,AUDITOR'S ,REPORT """"" #A-#B ,F9ANCIAL ,/ATE;TS ,/ATE;T ( ,F9ANCIAL ,POSI;N """"""" #C ,/ATE;TS ( ,ACTIVITIES """""""""""" #D ,/ATE;TS ( ,FUNC;NAL ,EXP5SES """"" #E ,/ATE;T ( ,CA% ,FL[S """""""""""""" #F ,NOTES TO ,F9ANCIAL ,/ATE;TS "" #G-#AH P#A ,,,AM]ICAN BRO!RHOOD = ! BL #A T_/A AM]ICAN AC;N FUND = BL *N & ADULTS & T_/A BL *N & ADULTS AC;N FUND ( AM]ICA F9ANCIAL /ATE;TS DECEMB] #CA1 #BJBC,' ,,RS@&,F ,BUSI;S ,3SULTANTS @& ,C]TIFI$ ,PUBLIC ,A3.TANTS ,,,ROS51 SAPP]/E9 @& FRI$L&]1 ;LLC,' #DJE ,YORK ,ROAD1 ,T[SON1 ,,MD #BABJD _4 ,PH"O3 #DAJ4EHA4JHJJ _4 ,FAX #DAJ4EHA4BBFH _4 ,EMAIL 9FO@ARS&F4COM _4 WWW4RS&F4COM ,,BALTIMORE "9 ,,COLUMBIA ,9DEP5D5T ,AUDITOR'S ,REPORT ,TO ! ,BO>D ( ,DIRECTORS & ,(FIC]S ( ,AM]ICAN ,BRO!RHOOD = ! ,BL ,T_/,A ,AM]ICAN ,AC;N ,FUND = ,BL ,*N & ,ADULTS & ,T_/,A ,BL ,*N & ,ADULTS ,AC;N ,FUND ( ,AM]ICA #A ,OP9ION A#A ,WE H AUDIT$ ! F9ANCIAL /ATE;TS ( ,AM]ICAN ,BRO!RHOOD = ! ,BL " "1 : COMPRISE ! /ATE;T ( F9ANCIAL POSI;N Z ( ,DECEMB] #CA1 #BJBC1 & ! RELAT$ /ATE;TS ( ACTIVITIES1 FUNC;NAL EXP5SES & CA% FL[S = ! YE> !N 5D$1 & ! RELAT$ NOTES TO ! F9ANCIAL /ATE;TS4 ,9 \R OP9ION1 ! A3OMPANY+ F9ANCIAL /ATE;TS REF]R$ TO ABV PRES5T FAIRLY1 9 ALL MAT]IAL RESPECTS1 ! F9ANCIAL POSI;N ( ! ,AC;N ,FUND Z ( ,DECEMB] #CA1 #BJBC1 & ! *ANGES 9 XS NET ASSETS & XS CA% FL[S = ! YE> !N 5D$ 9 A3ORD.E ) A3.T+ PR9CIPLES G5]ALLY A3EPT$ 9 ! ,UNIT$ ,/ATES ( ,AM]ICA4 ,BASIS = ,OP9ION ,WE 3DUCT$ \R AUDIT 9 A3ORD.E ) AUDIT+ /&>DS G5]ALLY A3EPT$ 9 ! ,UNIT$ ,/ATES ( ,AM]ICA4 ,\R RESPONSIBILITIES "U ^? /&>DS >E FUR!R DESCRIB$ 9 ! ,AUDITOR'S ,RESPONSIBILITIES = ! ,AUDIT ( ! ,F9ANCIAL ,/ATE;TS SEC;N ( \R REPORT4 ,WE >E REQUIR$ TO 2 9DEP5D5T ( ! B#A ,AC;N ,FUND & TO MEET \R O!R E?ICAL RESPONSIBILITIES1 9 A3ORD.E ) ! RELEVANT E?ICAL REQUIRE;TS RELAT+ TO \R AUDIT4 ,WE 2LIEVE T ! AUDIT EVID;E WE H OBTA9$ IS SU6ICI5T & APPROPRIATE TO PROVIDE A BASIS = \R AUDIT OP9ION4 ,RESPONSIBILITIES ( ,MANAGE;T = ! ,F9ANCIAL ,/ATE;TS ,MANAGE;T IS RESPONSIBLE = ! PREP>A;N & FAIR PRES5TA;N ( ! F9ANCIAL /ATE;TS 9 A3ORD.E ) A3.T+ PR9CIPLES G5]ALLY A3EPT$ 9 ! ,UNIT$ ,/ATES ( ,AM]ICA2 & = ! DESIGN1 IMPLE;TA;N & MA9T5.E ( 9T]NAL 3TROL RELEVANT TO ! PREP>A;N & FAIR PRES5TA;N ( F9ANCIAL /ATE;TS T >E FREE F MAT]IAL MIS/ATE;T1 :E!R DUE TO FRAUD OR ]ROR4 ,9 PREP>+ ! F9ANCIAL /ATE;TS1 MANAGE;T IS REQUIR$ TO EVALUATE :E!R "! >E 3DI;NS OR EV5TS1 3SID]$ 9 ! A7REGATE1 T RAISE SUB/ANTIAL D\BT AB ! ,AC;N ,FUND'S ABIL;Y TO 3T9UE Z A GO+ 3C]N )9 "O YE> AF ! DATE T ! F9ANCIAL /ATE;TS >E #C AVAILABLE TO 2 ISSU$4 C#A ,AUDITORS' ,RESPONSIBILITIES = ! ,AUDIT ( ! ,F9ANCIAL ,/ATE;TS ,\R OBJECTIVES >E TO OBTA9 R1SONABLE ASSUR.E AB :E!R ! F9ANCIAL /ATE;TS Z A :OLE >E FREE F MAT]IAL MIS/ATE;T1 :E!R DUE TO FRAUD OR ]ROR1 & TO ISSUE AN AUDITOR'S REPORT T 9CLUDES \R OP9ION4 ,R1SONABLE ASSUR.E IS A HI< LEVEL ( ASSUR.E B IS N ABSOLUTE ASSUR.E & "!=E IS N A GU>ANTEE T AN AUDIT 3DUCT$ 9 A3ORD.E ) AUDIT+ /&>DS G5]ALLY A3EPT$ 9 ! ,UNIT$ ,/ATES ( ,AM]ICA W ALW DETECT A MAT]IAL MIS/ATE;T :5 X EXI/S4 ,! RISK ( N DETECT+ A MAT]IAL MIS/ATE;T RESULT+ F FRAUD IS HI<] ?AN = "O RESULT+ F ]ROR1 Z FRAUD MAY 9VOLVE COLLU.N1 =G]Y1 9T5;NAL OMIS.NS1 MISREPRES5TA;NS1 OR ! OV]RIDE ( 9T]NAL 3TROL4 ,MIS/ATE;TS >E 3SID]$ MAT]IAL IF "! IS A SUB/ANTIAL LIKELIHOOD T 9DIVIDUALLY OR 9 ! A7REGATE1 !Y WD 9FLU;E ! JUDG;T MADE BY A R1SONABLE US] BAS$ ON ! F9ANCIAL /ATE;TS4 ,9 P]=M+ AN AUDIT 9 A3ORD.E ) #B AUDIT+ /&>DS G5]ALLY A3EPT$ 9 ! ,UNIT$ ,/ATES ( ,AM]ICA1 WE3 _4 ,EX]CISE PR(ES.NAL JUDGE;T & MA9TA9 PR(ES.NAL SKEPTICISM "?\T ! AUDIT4 _4 ,ID5TIFY & ASSESS ! RISKS ( MAT]IAL MIS/ATE;T ( ! F9ANCIAL /ATE;TS1 :E!R DUE TO FRAUD OR ]ROR1 & DESIGN & P]=M AUDIT PROC$URES RESPONSIVE TO ^? RISKS4 ,S* PROC$URES 9CLUDE EXAM9+1 ON A TE/ BASIS1 EVID;E REG>D+ ! AM.TS & 4CLOSURES 9 ! F9ANCIAL /ATE;TS4 _4 ,OBTA9 AN "U/&+ ( 9T]NAL 3TROL RELEVANT TO ! AUDIT 9 ORD] TO DESIGN AUDIT PROC$URES T >E APPROPRIATE 9 ! CIRCUM/.ES1 B N = ! PURPOSE ( EXPRESS+ AN OP9ION ON ! E6ECTIVE;S ( ! ,AC;N ,FUND'S 9T]NAL 3TROL4 ,ACLY1 NO S* OP9ION IS EXPRESS$4 _4 ,EVALUATE ! APPROPRIATE;S ( A3.T+ POLICIES US$ & ! R1SONABLE;S ( SIGNIFICANT A3.T+ E/IMATES MADE BY MANAGE;T1 Z WELL Z EVALUATE ! OV]ALL PRES5TA;N ( ! F9ANCIAL /ATE;TS4 #E _4 ,3CLUDE :E!R1 9 \R JUDG;T1 "! A#B >E 3DI;NS OR EV5TS1 3SID]$ 9 ! A7REGATE1 T RAISE SUB/ANTIAL D\BT AB ! ,AC;N ,FUND'S ABIL;Y TO 3T9UE Z A GO+ 3C]N = A R1SONABLE P]IOD ( "T4 ,WE >E REQUIR$ TO COMMUNICATE ) ^? *>G$ ) GOV]N.E REG>D+1 AM;G O!R MATT]S1 ! PLANN$ SCOPE & TIM+ ( ! AUDIT1 SIGNIFICANT AUDIT F9D+S1 & C]TA9 9T]NAL 3TROL-RELAT$ MATT]S T WE ID5TIFI$ DUR+ ! AUDIT4 @.<,SIGNATURE@.> ,ROS51 ,SAPP]/E9 @& ,FRI$L&]1 ;,,LLC ,BALTIMORE1 ,M>YL& ,M>* #BA1 #BJBD ,,,AM]ICAN BRO!RHOOD = ! BL #C T_/A AM]ICAN AC;N FUND = BL *N & ADULTS & T_/A BL *N & ADULTS AC;N FUND ( AM]ICA /ATE;T ( F9ANCIAL POSI;N,' ,DECEMB] #CA1 #BJBC ,,ASSETS ,CA% & CA% EQUIVAL5TS3 #B1ABI1FDH ,PREPD EXP5SES3 #GD1EHH ,O!R RECEIVABLES3 #BC1BAD ,9VE/;TS3 #CA1HIC1FBI ,9VE/;T - ,TRU/3 #CBJ1BDC ,O!R 9VE/;TS - LIFE 9SUR.E3 #A1FHE1AEB ,PROP]TY & EQUIP;T - NET3 #BAD1JDB ,,TOTAL ,,ASSETS3 #CF1CDJ1EAF #G ,,,LIABILITIES & NET A#C ASSETS,' ,,LIABILITIES ,A3.TS PAYABLE & A3RU$ EXP5SES3 #AFC1EBC ,A3RU$ ANNU;Y B5EFIT3 #IB1HAF ,,TOTAL ,,LIABILITIES3 #BEF1CCI ,,NET ,,ASSETS ,)\T DONOR RE/RIC;NS3 #CE1GEF1FFG ,) DONOR RE/RIC;NS3 #CBG1EAJ ,,,TOTAL NET ASSETS3,' #CF1JHD1AGG ,,,TOTAL LIABILITIES & NET ASSETS3,' #CF1CDJ1EAF ,,,AM]ICAN BRO!RHOOD = ! BL #D T_/A AM]ICAN AC;N FUND = BL *N & ADULTS & T_/A BL *N & ADULTS AC;N FUND ( AM]ICA /ATE;TS ( ACTIVITIES,' ,= ! ,YE> ,5D$ ,DECEMB] #CA1 #BJBC ,,,REV5UES1 GA9S & O!R SUPPORT,' ,PUBLIC SUPPORT ,3TRIBU;NS ,)\T ,DONOR ,RE/RIC;NS3 #C1BCC1BBI ,) ,DONOR ,RE/RIC;NS3 #D1GDD ,TOTAL3 #C1BCG1IGC ,DONAT$ S]VICES ,)\T ,DONOR ,RE/RIC;NS3 #IFC1CEH ,) ,DONOR ,RE/RIC;NS3 """ ,TOTAL3 #IFC1CEH ,TOTAL PUBLIC SUPPORT ,)\T ,DONOR ,RE/RIC;NS3 #D1AIF1EHG ,) ,DONOR ,RE/RIC;NS3 #D1GDD #I ,TOTAL3 #D1BJA1CCA A#D ,NET 9VE/;T 9COME ,)\T ,DONOR ,RE/RIC;NS3 #C1ECD1FJJ ,) ,DONOR ,RE/RIC;NS3 #BE1DHH ,TOTAL3 #C1EFJ1JHH ,,,TOTAL REV5UES1 GA9S & O!R SUPPORT,' ,)\T ,DONOR ,RE/RIC;NS3 #G1GCA1AHG ,) ,DONOR ,RE/RIC;NS3 #CJ1BCB ,TOTAL3 #G1GFA1DAI ,,EXP5SES ,PROGRAM S]VICES ,BRL PUBLICA;NS & PROGRAMS ,)\T ,DONOR ,RE/RIC;NS3 #GIJ1AFG ,) ,DONOR ,RE/RIC;NS3 ''' ,TOTAL3 #GIJ1AFG ,TOOLS = 9DEP5D;E ,)\T ,DONOR ,RE/RIC;NS3 #HB1HJC ,) ,DONOR ,RE/RIC;NS3 """ ,TOTAL3 #HB1HJC ,SPECIALIZ$ PROGRAMS & S]VICES B#D ,)\T ,DONOR ,RE/RIC;NS3 #C1BAC1HGJ ,) ,DONOR ,RE/RIC;NS3 """ ,TOTAL3 #C1BAC1HGJ ,TOTAL PROGRAM S]VICES ,)\T ,DONOR ,RE/RIC;NS3 #D1JHF1HDJ ,) ,DONOR ,RE/RIC;NS3 """ ,TOTAL3 #D1JHF1HDJ ,SUPPORT+ S]VICES ,MANAGE;T & G5]AL ,)\T ,DONOR ,RE/RIC;NS3 #BBA1DHH ,) ,DONOR ,RE/RIC;NS3 """ ,TOTAL3 #BBA1DHH ,FUNDRAIS+ ,)\T ,DONOR ,RE/RIC;NS3 #HBE1HGH ,) ,DONOR ,RE/RIC;NS3 """ ,TOTAL3 #HBE1HGH ,TOTAL SUPPORT+ S]VICES ,)\T ,DONOR ,RE/RIC;NS3 #A1JDG1CFF ,) ,DONOR ,RE/RIC;NS3 """ ,TOTAL3 #A1JDG1CFF #AA ,,TOTAL ,,EXP5SES C#D ,)\T ,DONOR ,RE/RIC;NS3 #E1ACD1BJF ,) ,DONOR ,RE/RIC;NS3 """ ,TOTAL3 #E1ACD1BJF ,,,*ANGES 9 NET ASSETS,' ,)\T ,DONOR ,RE/RIC;NS3 #B1EIF1IHA ,) ,DONOR ,RE/RIC;NS3 #CJ1BCB ,TOTAL3 #B1FBG1BAC ,,,NET ASSETS - 2G9N+ ( YE>,' ,)\T ,DONOR ,RE/RIC;NS3 #CC1AEI1FHF ,) ,DONOR ,RE/RIC;NS3 #BIG1BGH ,TOTAL3 #CC1DEF1IFD ,,,NET ASSETS - 5D ( YE>,' ,)\T ,DONOR ,RE/RIC;NS3 #CE1GEF1FFG ,) ,DONOR ,RE/RIC;NS3 #CBG1EAJ ,TOTAL3 #CF1JHD1AGG ,,,AM]ICAN BRO!RHOOD = ! BL #E T_/A AM]ICAN AC;N FUND = BL *N & ADULTS & T_/A BL *N & ADULTS AC;N FUND ( AM]ICA /ATE;TS ( FUNC;NAL EXP5SES,' ,= ! ,YE> ,5D$ ,DECEMB] #CA1 #BJBC @.<,WIDE TABLE HAS BE5 DIVID$ 9TO ?REE SEC;NS3 ,,,PROGRAM S]VICES1 SUPPORT+ S]VICES,' & ,,GR& ,,TOTAL4@.> ,,PROGRAM ,,S]VICES ,VOLUNTE] S]VICES ,BRL ,PUBLICA;NS & ,PROGRAMS3 #BDJ1HDJ ,TOOLS = ,9DEP5D;E3 #I1FCD ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 #GAB1HHE ,TOTAL3 #IFC1CEI ,SAL>IES ,BRL ,PUBLICA;NS & ,PROGRAMS3 #AC #BA1BBB A#E ,TOOLS = ,9DEP5D;E3 #C1ECG ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 #BIJ1JCJ ,TOTAL3 #CAD1GHI ,PAYROLL RELAT$ EXP5SES ,BRL ,PUBLICA;NS & ,PROGRAMS3 #F1HHE ,TOOLS = ,9DEP5D;E3 #A1ADG ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 #ID1JIG ,TOTAL3 #AJB1ABI ,TOTAL SAL>IES & RELAT$ EXP5SES ,BRL ,PUBLICA;NS & ,PROGRAMS3 #BFH1IDG ,TOOLS = ,9DEP5D;E3 #AD1CAH ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 #A1JIG1JAB ,TOTAL3 #A1CHJ1BGG ,SUPPLIES ,BRL ,PUBLICA;NS & ,PROGRAMS3 #BH1CHH ,TOOLS = ,9DEP5D;E3 #FB1GDD ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 #I1JEB ,TOTAL3 #AJJ1AHD ,PO/AGE & %IPP+ B#E ,BRL ,PUBLICA;NS & ,PROGRAMS3 #CG1IHI ,TOOLS = ,9DEP5D;E3 #FE ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 #CBE1JGB ,TOTAL3 #CFC1ABF ,PR9T+ & PUBLICA;NS ,BRL ,PUBLICA;NS & ,PROGRAMS3 #CCI1AIC ,TOOLS = ,9DEP5D;E3 #A1IGJ ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 #IHE1IJB ,TOTAL3 #A1CBG1JFE ,TRAVEL ,BRL ,PUBLICA;NS & ,PROGRAMS3 #C1FFD ,TOOLS = ,9DEP5D;E3 #B1EAA ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 #AJ1CAH ,TOTAL3 #AF1DIC ,3F];ES & 3V5;NS ,BRL ,PUBLICA;NS & ,PROGRAMS3 #A1ADC ,TOOLS = ,9DEP5D;E3 #EJ ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 #AE #B1AHJ C#E ,TOTAL3 #C1CGC ,PR(ES.NAL FEES ,BRL ,PUBLICA;NS & ,PROGRAMS3 #AH1IIB ,TOOLS = ,9DEP5D;E3 #BII ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 #ACD1HAF ,TOTAL3 #AED1AJG ,TELEPH"O ,BRL ,PUBLICA;NS & ,PROGRAMS3 #CGI ,TOOLS = ,9DEP5D;E3 #IE ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 #AJH ,TOTAL3 #EHB ,O3UPANCY ,BRL ,PUBLICA;NS & ,PROGRAMS3 #C1HDH ,TOOLS = ,9DEP5D;E3 #DFB ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 #AJ1FBJ ,TOTAL3 #AD1ICJ ,AW>DS & GRANTS ,BRL ,PUBLICA;NS & ,PROGRAMS3 #GA1ADE ,TOOLS = ,9DEP5D;E3 """ D#E ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 #EDC1GEJ ,TOTAL3 #FAD1HIE ,9=MA;N TE*NOLOGY ,BRL ,PUBLICA;NS & ,PROGRAMS3 #H1CBI ,TOOLS = ,9DEP5D;E3 #BHI ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 #BA1FHH ,TOTAL3 #CJ1CJF ,DATA PROCESS+ ,BRL ,PUBLICA;NS & ,PROGRAMS3 #H1AEJ ,TOOLS = ,9DEP5D;E3 """ ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 #GC1CEB ,TOTAL3 #HA1EJB ,O!R ,BRL ,PUBLICA;NS & ,PROGRAMS3 """ ,TOOLS = ,9DEP5D;E3 """ ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 """ ,TOTAL3 """ #AG ,,TOTAL ,,EXP5SES E#E ,BRL ,PUBLICA;NS & ,PROGRAMS3 #GIJ1AFG ,TOOLS = ,9DEP5D;E3 #HB1HJC ,SPECIALIZ$ ,PROGRAMS & ,S]VICES3 #C1BAC1HGJ ,TOTAL3 #D1JHF1HDJ ,,SUPPORT+ ,,S]VICES ,VOLUNTE] S]VICES ,MANAGE;T & ,G5]AL3 """ ,FUNDRAIS+3 """ ,TOTAL3 """ ,SAL>IES ,MANAGE;T & ,G5]AL3 #BA1BBB ,FUNDRAIS+3 #AG1FHE ,TOTAL3 #CEC1FIF ,PAYROLL RELAT$ EXP5SES ,MANAGE;T & ,G5]AL3 #F1HHE ,FUNDRAIS+3 #E1GCH ,TOTAL3 #AB1FBC ,TOTAL SAL>IES & RELAT$ F#E EXP5SES ,MANAGE;T & ,G5]AL3 #BH1AJG ,FUNDRAIS+3 #BC1DBC ,TOTAL3 #EA1ECJ ,SUPPLIES ,MANAGE;T & ,G5]AL3 #B1HFD ,FUNDRAIS+3 """ ,TOTAL3 #B1HFD ,PO/AGE & %IPP+ ,MANAGE;T & ,G5]AL3 #CIG ,FUNDRAIS+3 #CGA1DHA ,TOTAL3 #CGA1HGH ,PR9T+ & PUBLICA;NS ,MANAGE;T & ,G5]AL3 #CA1HEB ,FUNDRAIS+3 #CGI1DIJ ,TOTAL3 #DAA1CDB ,TRAVEL ,MANAGE;T & ,G5]AL3 #I1CHJ ,FUNDRAIS+3 """ ,TOTAL3 #I1CHJ #AI ,3F];ES & 3V5;NS G#E ,MANAGE;T & ,G5]AL3 #A1IHB ,FUNDRAIS+3 """ ,TOTAL3 #A1IHB ,PR(ES.NAL FEES ,MANAGE;T & ,G5]AL3 #FJ1HEF ,FUNDRAIS+3 #EA1DFE ,TOTAL3 #AAB1CBA ,TELEPH"O ,MANAGE;T & ,G5]AL3 #CB ,FUNDRAIS+3 #AI ,TOTAL3 #EA ,O3UPANCY ,MANAGE;T & ,G5]AL3 #DFB ,FUNDRAIS+3 """ ,TOTAL3 #DFB ,AW>DS & GRANTS ,MANAGE;T & ,G5]AL3 """ ,FUNDRAIS+3 """ ,TOTAL3 """ ,9=MA;N TE*NOLOGY H#E ,MANAGE;T & ,G5]AL3 """ ,FUNDRAIS+3 """ ,TOTAL3 """ ,DATA PROCESS+ ,MANAGE;T & ,G5]AL3 #HA1EJB ,FUNDRAIS+3 """ ,TOTAL3 #HA1EJB ,O!R ,MANAGE;T & ,G5]AL3 #D1JED ,FUNDRAIS+3 """ ,TOTAL3 #D1JED ,,TOTAL ,,EXP5SES ,MANAGE;T & ,G5]AL3 #BBA1DHH ,FUNDRAIS+3 #HBE1HGH ,TOTAL3 #A1JDG1CFF ,,GR& ,,TOTAL ,VOLUNTE] S]VICES3 #IFC1CEI ,SAL>IES3 #CEC1FIF ,PAYROLL RELAT$ EXP5SES3 #AAD1GEB #BA ,TOTAL SAL>IES & RELAT$ EXP5SES3 I#E #A1DCA1HJG ,SUPPLIES3 #AJC1JDH ,PO/AGE & %IPP+3 #GCE1JJD ,PR9T+ & PUBLICA;NS3 #A1GCH1DJG ,TRAVEL3 #BE1HGC ,3F];ES & 3V5;NS3 #E1CEE ,PR(ES.NAL FEES3 #BFF1DBH ,TELEPH"O3 #FCC ,O3UPANCY3 #AE1CIB ,AW>DS & GRANTS3 #FAD1HIE ,9=MA;N TE*NOLOGY3 #CJ1CJF ,DATA PROCESS+3 #AFC1JJD ,O!R3 #D1JED ,,TOTAL ,,EXP5SES3 #E1ACD1BJF ,,,AM]ICAN BRO!RHOOD = ! BL #F T_/A AM]ICAN AC;N FUND = BL *N & ADULTS & T_/A BL *N & ADULTS AC;N FUND ( AM]ICA /ATE;T ( CA% FL[S,' ,= ! ,YE> ,5D$ ,DECEMB] #CA1 #BJBC ,,,CA% FL[S F OP]AT+ ACTIVITIES,' ,*ANGES 9 NET ASSETS3 #B1FBG1BAC ,ADJU/;TS TO RECONCILE *ANGES 9 NET ASSETS TO NET CA% PROVID$ BY OP]AT+ ACTIVITIES3 ,UNR1LIZ$ GA9 ON 9VE/;TS3 "<#B1BIG1FHI"> ,R1LIZ$ GA93 "<#CIH1FBF"> ,*ANGE 9 A3RU$ ANNU;Y B5EFIT3 "<#D1GDD"> ,DECR1SE "<9CR1SE"> 9 OP]AT+ ASSETS3 ,PREPD EXP5SES3 "<#CA1JJA"> ,9CR1SE " 9 OP]AT+ LIABILITIES3 ,A3.TS PAYABLE & A3RU$ EXP5SES3 "<#AAI1HEG"> #BC ,,,NET CA% US$ BY OP]AT+ A#F ACTIVITIES3,' "<#AFB1GJB"> ,,,CA% FL[S F 9VE/+ ACTIVITIES,' ,CA% PD = 9VE/;TS3 "<#G1BCC1GGB"> ,PROCE$S F SALE ( 9VE/;TS3 #G1DBB1HHA ,CA% RCVD ON R$EMP;N ( CA% SURR5D] VALUE ( LIFE 9SUR.E3 #DJG1FCC ,CA% RCVD ON PR9CIPAL AM.T ( NOTES RECEIVABLE3 #E1ABE ,CA% PD ON ISSU.E ( NOTES RECEIVABLE3 "<#AE1JJJ"> ,,,NET CA% US$ BY 9VE/+ ACTIVITIES3,' #EHF1HFG ,,,NET *ANGE 9 CA% & CA% EQUIVAL5TS3,' #DBD1AFE ,,,CA% & CA% EQUIVAL5TS - 2G9N+ ( YE>3,' #A1GJE1DHC ,,,CA% & CA% EQUIVAL5TS - 5D ( YE>3,' #B1ABI1FDH ,,,AM]ICAN BRO!RHOOD = ! BL #G T_/A AM]ICAN AC;N FUND = BL *N & ADULTS & T_/A BL *N & ADULTS AC;N FUND ( AM]ICA NOTES TO F9ANCIAL /ATE;TS,' ,= ! ,YE> ,5D$ ,DECEMB] #CA1 #BJBC ,,,NOTE #A NATURE ( ! ORGANIZA;N & SUMM>Y ( SIGNIFICANT A3.T+ POLICIES,' ,NATURE ( ! ,ORGANIZA;N ,! ,AM]ICAN ,BRO!RHOOD = ! ,BL ,T_/,A ,AM]ICAN ,AC;N ,FUND = ,BL ,*N & ,ADULTS & ,T_/,A ,BL ,*N & ,ADULTS ,AC;N ,FUND ( ,AM]ICA "<,AC;N ,FUND">1 H1DQU>T]$ 9 ,BALTIMORE1 ,M>YL&1 IS A #EJA" "<#C"> NONPR(IT S]VICE AG5CY : SPECIALIZES 9 PROVID+ HELP TO BL P T IS N R1DILY AVAILABLE TO !M F GOV]N;T PROGRAMS & O!R EXI/+ S]VICE #BE SY/EMS4 ,! ,AC;N ,FUND FULFILLS XS A#G MIS.N BY FOCUS+ XS EF=TS 9 ?REE PRIM>Y PROGRAM S]VICE >1S4 ,AL? EA* PROGRAM S]VICE HAS A "PICUL> >EA ( FOCUS1 ALL ?REE PROGRAMS "W+ 9 RELA;N%IP ) EA* O!R >E REQUIR$ TO REMOVE ! >TIFICIAL SOCIAL1 CULTURAL1 & $UCA;NAL OB/ACLES : PREV5T BL *N & ADULTS F FULL "PICIPA;N 9 SOCIETY4 ^7,BRL ,PUBLICA;NS & ,PROGRAMS,-^',2G9N+ ) E>LY TACTILE EXPLORA;N ACTIVITIES & PRE-R1D+ PROGRAMS1 BL *N >E (F]$ MULTIPLE S]VICES & ACTIVITIES = ACQUISI;N ( ,BRL R1D+ & WRIT+ SKILLS NE$$ = SU3ESS;L ADULTHOOD1 9CLUD+ SUMM] BRL 9/RUC;N1 ,BRL R1D+ 3TE/S1 FREE H>D COPY ,BRL BOOKS & ELECTRONIC ,BRL R1DY FILES = ON -SITE PRODUC;N ( H>D COPY BOOKS4 ,^! & SIMIL> ACTIVITIES >E C\PL$ ) MASS COMMUNICA;N PROGRAMS TO RAISE PUBLIC "U/&+ & SUPPORT = REQUIR+ ,BRL R1D+ & WRIT+ 9/RUC;N = BL *N & Y\? 9 PRIVATE ELE;T>Y & SECOND>Y S*OOLS4 ^7,TOOLS = ,9DEP5D;E,-^',:ITE CANES1 SLATES & /YLUSES = WRIT+ ,BRL1 & B#G ,BRL CAL5D>S >E PROVID$ TO BL 9DIVIDUALS )\T *>GE ^U REQUE/4 ^7,SPECIALIZ$ ,PROGRAMS & ,S]VICES,-^',? S]VICE >EA FOCUSES ON ACTIVITIES TO ELIM9ATE MASSIVE SY/EMIC B>RI]S EMB$D$ 9 $UCA;N1 EMPLOY;T2 TRANSPORTA;N1 GOV]N;TAL S]VICES1 COMM]CE1 RECR1;N1 H\S+1 RETAIL E/ABLI%;TS1 M$ICAL FACILITIES1 WEBSITE & O!R EXCLUSIVELY VISUAL ELECTRONIC SCRE5- BAS$ 9=MA;N SY/EMS1 DEVICES1 & TOOLS AL;G ) ALL O!R =MS ( EXCLU.N BAS$ ON MIS"U/&+S ( ! TRUE NATURE ( ! PROBLEMS CAUS$ BY LACK ( EYESIE MULTIFACET$ & 9CLUDE3 ,DIRECT S]VICES TO BL 9DIVIDUALS2 SUPPORT = P>5TS ( BL *N2 MASSIVE BROAD-BAS$ COMMUNICA;NS TO & 9T]AC;N ) 9DIVIDUALS1 PUBLIC & PRIVATE 5TITIES & ORGANIZA;NS AIM$ AT MAK+ *ANGES TO PUBLIC P]CEP;NS AB BL;S2 L1D]%IP TRA9+2 SUPPORT = SELF-ADVOCACY & SELF-ORGANIZA;N GR\PS2 LEGAL ADVOCACY2 SUPPORT = CR1;N & 4TRIBU;N ( NEW TACTILE ME?ODS = A3ESS TO 9=MA;N2 EF=TS TO #BG LOCATE BL P NE$+ ASSI/.E2 & C#G COLLABORA;N ) O!R 5TITIES "W+ T[>D SIMIL> GOALS4 ,USE ( ,E/IMATES ,! PREP>A;N ( F9ANCIAL /ATE;TS 9 3=M;Y ) A3.T+ PR9CIPLES G5]ALLY A3EPT$ 9 ! ,UNIT$ ,/ATES ( ,AM]ICA REQUIRES MANAGE;T TO MAKE E/IMATES & ASSUMP;NS T A6ECT ! REPORT$ AM.TS ( ASSETS & LIABILITIES & 4CLOSURE ( 3T+5T ASSETS & LIABILITIES AT ! DATE ( ! F9ANCIAL /ATE;TS & ! REPORT$ AM.TS ( REV5UE & EXP5SES DUR+ ! REPORT+ P]IOD4 ,ACTUAL RESULTS CD DI6] F ^? E/IMATES4 --------------------------------------#H ,BASIS ( ,PRES5TA;N ,! ,AC;N ,FUND'S F9ANCIAL /ATE;TS >E PREP>$ ON ! A3RUAL ME?OD ( A3.T+1 : RECOGNIZES REV5UES & ! RELAT$ ASSETS :5 E>N$1 & EXP5SES & ! RELAT$ LIABILITIES :5 OBLIGA;NS >E 9CURR$4 ,! ,AC;N ,FUND FOLL[S ! ,PRES5TA;N ( ,F9ANCIAL ,/ATE;TS = ,N-=-,PR(IT ,5TITIES TOPIC ( ! ,F9ANCIAL A#H ,A3.T+ ,/&>DS ,BO>D "<,,FASB"> ,A3.T+ ,/&>DS ,CODIFICA;N4 ,? PRON\NCE;T SETS /&>DS = ! F9ANCIAL /ATE;T PRES5TA;N = N-=-PR(IT ORGANIZA;NS4 ,! ,AC;N ,FUND IS REQUIR$ TO REPORT 9=MA;N REG>D+ XS F9ANCIAL POSI;N & ACTIVITIES AC TO TWO "<#B"> CLASSES ( NET ASSETS3 )\T DONOR RE/RIC;NS & ) DONOR RE/RIC;NS BAS$ ON ! EXI/;E OR ABS;E ( DONOR-IMPOS$ RE/RIC;NS4 ,NET ASSETS ) DONOR RE/RIC;NS 3SI/ ( ASSETS ^: USE IS LIMIT$ BY DONOR-IMPOS$ "T &_/OR PURPOSE RE/RIC;NS4 ,NET ASSETS )\T DONOR RE/RIC;N >E NET ASSETS AVAILABLE = USE 9 G5]AL OP]A;NS & N SUBJECT TO DONOR-IMPOS$ RE/RIC;NS4 ,! GOV]N+ BO>D C DESIGNATE1 F NET ASSETS )\T DONOR RE/RIC;NS1 NET ASSETS = SPECIFIC PURPOSES4 ,DONOR RE/RICT$ NET ASSETS 9CLUDE ASSETS HELD 9 TRU/ "? ! DONOR'S LIFE"T1 & S*OL>%IP & BOOK FUNDS1 ": ! DONOR HAS RE/RICT$ T ONLY ! 9COME MAY 2 US$ = XS /AT$ PURPOSE & T ! CORPUS MAY N 2 9VAD$4 ,DONOR RE/RICT$ 3TRIBU;NS ^: #BI RE/RIC;NS >E MET 9 ! SAME REPORT+ B#H P]IOD >E REPORT$ Z REV5UE )9 NET ASSETS )\T DONOR RE/RIC;NS4 ,REC5TLY ,ADOPT$ ,A3.T+ ,PRON\NCE;T ,9 ,JUNE #BJAF1 ! ,,FASB ISSU$ ,,ASU #BJAF-#AC1 ,F9ANCIAL ,9/RU;TS ,- ,CR$IT ,LOSSES "<,TOPIC #CBF"> : SIGNIFICANTLY *ANG$ H[ 5TITIES W M1SURE CR$IT LOSSES = MO/ F9ANCIAL ASSETS & C]TA9 O!R 9/RU;TS T >5'T M1SUR$ AT FAIR VALUE "? *ANGES 9 NET ASSETS4 ,! MO/ SIGNIFICANT *ANGE 9 ? /&>D IS A %IFT F ! 9CURR$ LOSS MODEL TO ! EXPECT$ LOSS MODEL4 ,"U ! /&>D1 4CLOSURES >E REQUIR$ TO PROVIDE US]S ( ! F9ANCIAL /ATE;TS ) USE;L 9=MA;N 9 ANALYZ+ AN 5T;Y'S EXPOSURE TO CR$IT RISK & ! M1SURE;T ( CR$IT LOSSES4 ,F9ANCIAL ASSETS HELD BY ! ,AC;N ,FUND T >E SUBJECT TO ! GUID.E 9 ,,FASB ,,ASU #BJAF-#AC 7 O!R RECEIVABLES4 ,! ,AC;N ,FUND ADOPT$ ! /&>D E6ECTIVE ,JANU>Y #A1 #BJBC4 ,! IMPACT ( ! ADOP;N 0 N 3SID]$ MAT]IAL TO ! F9ANCIAL /ATE;TS & PRIM>ILY RESULT$ 9 5H.ED 4CLOSURES ONLY4 C#H --------------------------------------#I ,REV5UE ,RECOGNI;N ,! ,AC;N ,FUND FOLL[S BO? ,A3.T+ ,/&>DS ,UPDATE "<,,ASU"> #BJAD-#JI1 ,REV5UE F ,3TRACTS ) ,CU/OM]S "<,TOPIC #FJF"> & ,,ASU #BJAH-#JH1 ,N-=-,PR(IT ,5TITIES3 ,CL>IFY+ ! ,SCOPE & ! ,A3.T+ ,GUID.E = ,3TRIBU;NS ,RCVD & ,3TRIBU;NS ,MADE "<,TOPIC #IEH">4 ,,ASU #BJAD-#JI E/ABLI%ES PR9CIPLES = REPORT+ USE;L 9=MA;N TO US]S ( F9ANCIAL /ATE;TS AB ! NATURE1 AM.T1 TIM+1 & UNC]TA9TY ( REV5UE & CA% FL[S >IS+ F ! 5T;Y'S 3TRACTS ) CU/OM]S4 ,! ,,ASU REQUIRES T ! ,AC;N ,FUND RECOGNIZE REV5UE TO DEPICT ! TRANSF] ( PROMIS$ GDS OR S]VICES TO CU/OM]S 9 AN AM.T T REFLECTS ! 3SID]A;N TO : ! ,AC;N ,FUND EXPECTS TO 2 5TITL$ 9 EX*ANGE = ^? GDS OR S]VICES4 ,,ASU #BJAH-#JH CL>IFIES & IMPROVES GUID.E = 3TRIBU;NS RCVD & 3TRIBU;NS MADE & PROVIDES GUID.E TO ORGANIZA;NS ON H[ TO A3.T = C]TA9 EX*ANG$ #CA TRANSAC;NS4 ,? GUID.E IS PREF]ABLE A#I 9 T X CL>IFIES :E!R TO A3.T = TRANSAC;NS Z 3TRIBU;NS OR Z EX*ANG$ TRANSAC;NS4 ,9 ADDI;N1 X CL>IFIES :E!R A 3TRIBU;N IS 3DI;NAL4 ,3TRIBU;NS %D FOLL[ ! GUID.E 9 ,,FASB ,A3.T+ ,/&>DS ,CODIFICA;N "<,,FASB ,,ASC"> #IEH-#FJE1 ,N-=-,PR(IT ,5TITIES,-,REV5UE ,RECOGNI;N1 ":AS1 = EX*ANGE TRANSAC;NS1 AN 5T;Y %D FOLL[ O!R GUID.E S* Z ,,FASB ,,ASC #FJF1 ,REV5UE F ,3TRACTS ) ,CU/OM]S4 ,! ,AC;N ,FUND FOLL[S ! ,REV5UE ,RECOGNI;N = ,N-=-,PR(IT ,5TITIES TOPIC ( ! ,,FASB ,,ASC #IEH-#FJE4 ,9 A3ORD.E ) ? /&>D1 3TRIBU;NS RCVD >E RECORD$ Z )\T DONOR RE/RIC;NS OR ) DONOR RE/RIC;NS4 ,ALL 3TRIBU;NS RCVD >E 3SID]$ TO 2 AVAILABLE )\T RE/RIC;NS UN.S SPECIFICALLY RE/RICT$ BY ! DONOR4 ,CA% & ,CA% ,EQUIVAL5TS ,= PURPOSES ( REPORT+ CA% FL[S1 ! ,AC;N ,FUND 3SID]S ALL HI MON?S OR LESS TO 2 A CA% EQUIVAL5T4 B#I ,F9ANCIAL ,CR$IT ,RISK ,! ,AC;N ,FUND MA9TA9S XS CA% BAL.ES AT S"EAL F9ANCIAL 9/ITU;NS4 ,! BAL.ES >E 9SUR$ BY ! ,F$]AL ,DEPOSIT ,9SUR.E ,CORPORA;N "<,,FDIC"> UP TO 9SUR$ LIMITS4 ,Z ( ,DECEMB] #CA1 #BJBC1 ! ,AC;N ,FUND'S CA% BAL.ES 7 9 EXCESS ( ^! 9SUR$ LIMITS4 ,MANAGE;T 2LIEVES T ! ,AC;N ,FUND IS N EXPOS$ TO ANY SIGNIFICANT CR$IT RISK ) RESPECT TO XS CA% BAL.ES4 ,9 ADDI;N1 ! ,AC;N ,FUND G5]ALLY MA9TA9S 9VE/;T BAL.ES 9 EXCESS ( ! ,SECURITIES ,9VE/OR ,PROTEC;N ,CORPORA;N "<,,SIPC"> LIMITS4 ,! ,AC;N ,FUND 9VE/S 9 V>I\S 9VE/;T SECURITIES4 ,9VE/;T SECURITIES >E EXPOS$ TO V>I\S RISKS S* Z 9T]E/ RATE1 M>KET & CR$IT RISKS4 ,DUE TO ! LEVEL ( RISK ASSOCIAT$ ) C]TA9 9VE/;T SECURITIES1 X IS AT L1/ R1SONABLY POSSIBLE T *ANGES 9 ! VALUES ( 9VE/;T SECURITIES W O3UR 9 ! NE> T]M & ^? *ANGES CD MAT]IALLY A6ECT ! VALUE REPORT$ 9 ! F9ANCIAL #CC /ATE;TS4 C#I -------------------------------------#AJ ,NOTES ,RECEIVABLE ,NOTES RECEIVABLE 3SI/ ( PROGRAM-RELAT$ LOANS TO ORGANIZA;NS & 9DIVIDUALS :O SUPPORT ! ,AC;N ,FUND'S MIS.N ( 5C\RAG+ 9DEP5D;E & SUPPORT+ 5TREPR5EUR%IP AM;G ! BL4 ,! ,AC;N ,FUND RECOGNIZES AN ALL[.E = LOSSES ON NOTES RECEIVABLE 9 AN AM.T EQUAL TO ! CURR5T EXPECT$ CR$IT LOSSES4 ,! E/IMA;N ( ! ALL[.E IS BAS$ ON AN ANALYSIS ( HI/ORICAL LOSS EXP]I;E & MANAGE;T'S ASSESS;T ( CURR5T 3DI;NS & R1SONABLE & SUPPORTABLE EXPECTA;N ( FUTURE 3DI;NS1 Z WELL Z AN ASSESS;T ( SPECIFIC ID5TIFIABLE A3.TS 3SID]$ AT RISK OR UNCOLLECTIBLE4 ,! ,AC;N ,FUND ASSESSES COLLECTABIL;Y BY POOL+ RECEIVABLES ": SIMIL> "*I/ICS EXI/ & EVALUATES RECEIVABLES 9DIVIDUALLY :5 SPECIFIC BAL.ES NO L;G] %>E ^? RISK "*I/ICS & >E 3SID]$ AT RISK OR UNCOLLECTIBLE4 ,! EXP5SE ASSOCIAT$ ) ! ALL[.E = EXPECT$ CR$IT LOSSES IS RECOGNIZ$ 9 A#AJ MANAGE;T & G5]AL EXP5SES ON ! /ATE;TS ( ACTIVITIES4 ,MANAGE;T 2LIEVES T ALL NOTES RECEIVABLE >E FULLY COLLECTIBLE & W 3T9UE TO 2 FULLY COLLECTIBLE & NO ALL[.E = CR$IT LOSS HAS BE5 RECORD$4 ,! ,AC;N ,FUND'S POLICY = E/IMAT+ ? ALL[.E IS BAS$ ON AN EXPECT$ LOSS MODEL & REFLECTS ! ADOP;N ( ! NEW A3.T+ /&>D RELAT$ TO CURR5T EXPECT$ CR$IT LOSSES 9 ! CURR5T YE>4 ,9 PRIOR P]IODS1 ? ALL[.E 0 E/IMAT$ US+ ! 9CURR$ LOSS MODEL1 : DID N REQUIRE ! 3SID]A;N ( =W>D-LOOK+ 9=MA;N & 3DI;NS 9 ! RES]VE CALCULA;N4 ,PA/ DUE RECEIVABLE BAL.ES >E WRITT5 (F :5 COLLEC;N EF=TS H BE5 UNSU3ESS;L 9 COLLECT+ ! AM.TS DUE4 ,IF RECOV]IES >E MADE F ANY A3.TS PREVI\SLY WRITT5 (F1 !Y W 2 RECOGNIZ$ Z 9COME 9 ! YE> ( RECOV]Y4 ,"! 7 NO WRITE-(FS = ! YE> 5D$ ,DECEMB] #CA1 #BJBC4 ,9VE/;TS ,! ,AC;N ,FUND'S 9VE/;T PORTFOLIO IS CLASSIFI$ Z TRAD+ & IS REPORT$ AT #CE XS FAIR VALUE1 BAS$ ON QUOT$ B#AJ M>KET PRICES AT ,DECEMB] #CA1 #BJBC4 ,R1LIZ$ & UNR1LIZ$ HOLD+ GA9S & LOSSES ON TRAD+ SECURITIES ) R1DILY DET]M9ABLE M>KET VALUES >E 9CLUD$ 9 NET 9VE/;T 9COME " 9 ! /ATE;TS ( ACTIVITIES4 ,O!R ,9VE/;TS,-,LIFE ,9SUR.E ,! ,AC;N ,FUND 9VE/S 9 LIFE 9SUR.E POLICIES ON MEMB]S ( MANAGE;T4 ,A POLICY IS ISSU$ ON ! 9SUR$ "PY1 ! ,AC;N ,FUND IS ! [N] & B5EFICI>Y ( ! POLICY & Z S* PAYS ALL PREMIUMS4 ,PROP]TY & ,EQUIP;T ,PROP]TY & EQUIP;T IS RECORD$ AT CO/1 NET ( A3UMULAT$ DEPRECIA;N4 ,MAJOR ADDI;NS & BETT];TS >E *>G$ TO ! ASSET A3.TS :ILE MA9T5.E & REPAIRS : D N IMPROVE OR EXT5D ! LIVES ( ! ASSETS >E EXP5S$ :5 9CURR$4 ,3TRIBUT$ PROP]TY1 9CLUD+ COLLEC;NS1 IS RECORD$ AT FAIR VALUE AT ! DATE ( DONA;N4 ,! ,AC;N ,FUND HAS ELECT$ TO CAPITALIZE ALL COLLEC;NS PUR*AS$ OR RCVD Z 3TRIBU;NS4 ,! COLLEC;NS 9CLUDE A ,BRL #AA ,LIBR>Y 3SI/+ ( COLLECT$ "WS1 >E N DEPRECIAT$ & H NO DONOR RE/RIC;NS4 ,COLLEC;N ITEMS >E PROTECT$1 C>$ = & PRES]V$4 ,^U ! SALE OR O!R 4POSI;N ( ASSETS1 ! CO/ & RELAT$ A3UMULAT$ DEPRECIA;N >E REMOV$ F ! RESPECTIVE A3.TS1 & ANY RESULT+ GA9 OR LOSS >E 9CLUD$ 9 OP]A;NS4 ,DEPRECIA;N EXP5SE IS CALCULAT$ US+ ! /RAIDS ,CODIFICA;N4 ,L;G-LIV$ ASSETS1 S* Z PROP]TY & EQUIP;T & PUR*AS$ 9TANGIBLES SUBJECT TO AMORTIZA;N1 >E REVIEW$ = IMPAIR;T :5"E EV5TS OR *ANGES 9 CIRCUM/.ES 9DICATE T ! C>RY+ AM.T ( AN ASSET MAY N 2 RECOV]ABLE1 & EVALUAT$ AT L1/ ANNUALLY4 ,RECOV]ABIL;Y ( ASSETS TO 2 HELD & #CG US$ IS M1SUR$ BY COMP>+ ! C>RY+ A#AA AM.T ( AN ASSET TO E/IMAT$ UNDISC.T$ FUTURE CA% FL[S EXPECT$ TO 2 G5]AT$ BY ! ASSET4 ,IF ! C>RY+ AM.T ( AN ASSET EXCE$S XS E/IMAT$ FUTURE CA% FL[S1 AN IMPAIR;T *>GE IS RECOGNIZ$ 9 ! AM.T BY : ! C>RY+ AM.T ( ! ASSET EXCE$S ! FAIR VALUE ( ! ASSET4 ,ASSETS TO 2 4POS$ ( WD 2 SEP>ATELY PRES5T$ 9 ! /ATE;T ( F9ANCIAL POSI;N & REPORT$ AT ! L[] ( ! C>RY+ AM.T OR FAIR VALUE LESS CO/S TO SELL1 & >E NO L;G] DEPRECIAT$4 ,! ASSETS & LIABILITIES ( A 4POS$ GR\P CLASSIFI$ Z HELD = SALE WD 2 PRES5T$ SEP>ATELY 9 ! APPROPRIATE ASSET & LIABIL;Y SEC;NS ( ! /ATE;T ( F9ANCIAL POSI;N4 ,MANAGE;T 2LIEVES ! VALUE ( L;G-LIV$ ASSETS EXCE$ ! C>RY+ VALUE Z ( ,DECEMB] #CA1 #BJBC4 ,A3RU$ ,ANNU;Y ,B5EFIT ,! ,AC;N ,FUND _H E/ABLI%$ A *>ITABLE GIFT ANNU;Y PROGRAM ": DONORS MAY 3TRIBUTE ASSETS TO ! ,AC;N ,FUND & 9 RETURN RCV A GU>ANTE$ FIX$ 9COME = LIFE4 ,! ,AC;N ,FUND MA9TA9S A SEGREGAT$ 9VE/;T A3.T TO HOLD RES]VES B#AA REQUIR$ = GIFT ANNU;Y 9/RU;TS4 ,! 9VE/;T RES]VE BAL.E RELAT$ TO ? PROGRAM AM.T$ TO @S#CBJ1BDC Z ( ,DECEMB] #CA1 #BJBC4 ,! ,AC;N ,FUND RECOGNIZES 3TRIBU;N REV5UE = ! DI6];E 2T ! FAIR VALUE ( ! ASSETS RCVD & ! ANNU;Y LIABIL;Y4 ,! GIFT ANNU;Y LIABIL;Y REPRES5TS MONIES RE/RICT$ UNTIL ! ANNU;Y IS SATISFI$4 ,ANNU;Y B5EFIT LIABILITIES >E RECORD$ = ! REQUIR$ LIFE ANNU;Y PAY;TS AT ! PRES5T VALUE ( EXPECT$ FUTURE CA% PAY;TS 4C.T$ US+ 9T]E/ RATES AT ! DATE ( GIFT & ACTU>IAL ASSUMP;NS4 ,! CALCULA;N ( ! LIABIL;Y 9CLUDES ! DONOR'S E/IMAT$ LIFE EXPECTANCY4 ,! ANNU;Y OBLIGA;NS >E ADJU/$ EA* YE> = *ANGES 9 ! LIFE EXPECTANCY ( ! B5EFICI>IES & >E R$UC$ Z PAY;TS >E MADE TO ! DONOR4 ,? PROGRAM HAS S9CE BE5 4CONT9U$4 ,! ANNU;Y B5EFIT LIABIL;Y AT ,DECEMB] #CA1 #BJBC 9CLUDES FUTURE PAY;TS = B5EFICI>IES :O 5T]$ ! PROGRAM PRIOR TO XS T]M9A;N "4 #CI ,9COME ,TAXES #AB ,! ,AC;N ,FUND IS EXEMPT F F$]AL 9COME TAXES "U ,9T]NAL ,REV5UE ,CODE ,SEC;N #EJA" "<#C">4 ,"! 7 NO 9COME TAXES PD ON UNRELAT$ BUSI;S ACTIVITIES = ! YE> 5D$ ,DECEMB] #CA1 #BJBC4 ,A3.T+ = ,UNC]TA9TY 9 ,9COME ,TAXES ,! ,AC;N ,FUND ADOPT$ ! ,A3.T+ = ,UNC]TA9TY 9 ,9COME ,TAXES /&>D ( ! ,,FASB ,A3.T+ ,/&>DS ,CODIFICA;N4 ,! /&>D REQUIRES ! RECOGNI;N & M1SURE;T ( UNC]TA9 TAX POSI;NS TAK5 OR EXPECT$ TO 2 TAK5 BY ! ,AC;N ,FUND 9 ! PREP>A;N ( XS TAX RETURNS4 ,! ,AC;N ,FUND DET]M9ES :E!R X IS M-LIKELY-?AN-N T A C]TA9 TAX POSI;N W 2 SU/A9$ ^U EXAM9A;N BY A TAX+ AU?OR;Y4 ,IF AN UNC]TA9 TAX POSI;N IS LESS-LIKELY-?AN-N TO 2 SU/A9$1 AN E/IMATE ( ! POT5TIAL E6ECT IS RECOGNIZ$ 9 ! F9ANCIAL /ATE;TS & ! UNC]TA9 TAX POSI;N IS REQUIR$ TO 2 4CLOS$4 ,P] ! ,AC;N ,FUND'S EVALUA;N Z ( ,DECEMB] #CA1 #BJBC1 9CLUD+ ALL PRIOR TAX YE>S SUBJECT TO EXAM9A;N1 X 0 DET]M9$ T NO MAT]IAL ADJU/;TS 7 REQUIR$ 9 ! F9ANCIAL A#AB /ATE;TS = TAX POSI;NS LESS-LIKELY-?AN-N TO 2 SU/A9$ ^U EXAM9A;N BY A TAX+ AU?OR;Y4 ,! ,AC;N ,FUND 2LIEVES X IS NO L;G] SUBJECT TO 9COME TAX EXAM9A;NS = YE>S PRIOR TO #BJBJ4 ,3TRIBUT$ ,NONF9ANCIAL ,ASSETS ,! ,AC;N ,FUND HAS ADOPT$ ! ,REV5UE ,RECOGNI;N = ,N-=-,PR(IT ,5TITIES TOPIC ( ! ,,FASB ,A3.T+ ,/&>DS ,CODIFICA;N 9 ! RECOGNI;N ( 3TRIBUT$ NONF9ANCIAL ASSETS4 ,3TRIBUT$ NONF9ANCIAL ASSETS 9CLUDES DONAT$ S]VICES4 ,DONAT$ S]VICES >E RECOGNIZ$ AT FAIR VALUE AT ! "T ( DONA;N IF ! S]VICES RCVD " CR1TE OR 5H.E L;G-LIV$ ASSETS OR "<;B"> REQUIRE SPECIALIZ$ SKILLS1 >E PROVID$ BY 9DIVIDUALS POSSESS+ ^? SKILLS1 & WD TYPICALLY NE$ TO 2 PUR*AS$ IF N PROVID$ BY DONA;N4 ,DONAT$ S]VICES 3SI/ ( VOLUNTE] S]VICES4 ,VOLUNTE] S]VICES >E RECORD$ ON ! BASIS ( "T SP5T AT RATES PD BY O!R ORGANIZA;NS = COMP>ABLE S]VICES4 #DA ,! VOLUNTE] S]VICES PRIM>ILY 3SI/ B#AB ( S]VICES = ! ORI5TA;N & ADJU/;T TO BL;S & BL;S ADVOCACY1 Z WELL Z A3.T+ & ADM9I/RATIVE S]VICES4 ,! VOLUNTE] S]VICES >E RECORD$ Z BO? PUBLIC SUPPORT & PROGRAM S]VICES2 "!=E1 "! IS NO E6ECT ON ! *ANGE 9 NET ASSETS4 ,NO AM.TS H BE5 REFLECT$ 9 ! F9ANCIAL /ATE;TS = ! VOLUNTE] A3.T+ & ADM9I/RATIVE S]VICES S9CE !Y D N MEET ! CRIT]IA = RECOGNI;N4 ,! VOLUNTE] S]VICES DID N H DONOR RE/RIC;NS4 ,FUNC;NAL ,EXP5SE ,ALLOCA;NS ,! F9ANCIAL /ATE;TS REPORT C]TA9 CO/S T >E ATTRIBUTABLE EI TO M ?AN "O PROGRAM FUNC;N & _/ OR TO "O OR M PROGRAM FUNC;N 9 3JUNC;N ) "O OR M SUPPORT+ FUNC;N4 ,S* CO/S >E REPORT$ AC TO _! NATURAL EXP5SE CATEGORY & !N ALLOCAT$ TO ! APPROPRIATE FUNC;NAL CATEGORY ON A R1SONABLE BASIS T IS 3SI/5TLY APPLI$4 -------------------------------------#AC ,SAL>IES >E ALLOCAT$ ON ! BASIS ( E/IMATES ( "T & EF=T2 O3UPANCY CO/S >E ALLOCAT$ ON ! BASIS ( SQU>E A#AC FOOTAGE2 O!R NATURAL CO/S >E ALLOCAT$ ON ! BASIS ( MANAGE;T ID5TIFICA;N BAS$ ON OBS]VA;N & PR(ES.NAL EVALUA;N ( ! DIRECT B5EFIT ( ! CO/ TO A "PICUL> PROGRAM FUNC;N OR SUPPORT+ FUNC;N4 ,IF A JO9T CO/ IS 9CURR$ = AN ACTIV;Y T 9CLUDES BO? 9=MA;NAL MESSAGES & FUNDRAIS+ APP1LS1 T CO/ IS AL EVALUAT$ ON ! BASIS ( ! 3T5T ( ! MESSAGES1 R1SONS = 4TRIBUT+ ! MESSAGES1 & ! AUDI;E TO :OM ! MESSAGE IS 4TRIBUT$4 ,SUBSEQU5T ,EV5TS ,EV5TS T O3URR$ SUBSEQU5T TO ,DECEMB] #CA1 #BJBC H BE5 EVALUAT$ BY ! ,AC;N ,FUND'S MANAGE;T = POT5TIAL RECOGNI;N OR 4CLOSURE 9 ! F9ANCIAL /ATE;TS "? ! DATE ( ! 9DEP5D5T AUDITOR'S REPORT1 : IS ! DATE ! F9ANCIAL /ATE;TS 7 AVAILABLE TO 2 ISSU$4 ,! ,AC;N ,FUND DID N H ANY MAT]IAL RECOGNIZABLE SUBSEQU5T EV5TS DUR+ ? P]IOD4 #DC ,,,NOTE #B B#AC NOTES RECEIVABLES,' ,NOTES RECEIVABLE AT ,DECEMB] #CA1 #BJBC 3SI/S ( BUSI;S & JOB RELAT$ LOANS MADE ) 9DIVIDUALS :O SUPPORT ! ,AC;N ,FUND'S MIS.N ( 5C\RAG+ 9DEP5D;E & SUPPORT+ 5TREPR5EUR%IP AM;G ! BL4 ,! LOANS BE> 9T]E/ AT #C.0 P] ANNUM & MATURE 9 ,DECEMB] #BJBF4 ,! \T/&+ BAL.E DUE ! ,AC;N ,FUND AT ,DECEMB] #CA1 #BJBC AM.T$ TO @S#BC1BAD4 ,! BAL.E IS 9CLUD$ 9 O!R RECEIVABLES 9 ! /ATE;T ( F9ANCIAL POSI;N4 ,,NOTE #C ,,9VE/;T,-,,TRU/ ,AN IRREVOCABLE TRU/ 0 CR1T$ = ! EV5TUAL B5EFIT ( ! ,AC;N ,FUND4 ,! T]MS ( ! ,TRU/ /ATE T ^U ! D1? ( ,RAMONA ,WALH(1 ! PROP]TY HELD BY ! ,TRU/ 2COMES ! PROP]TY )\T RE/RIC;N ( ! ,AC;N ,FUND4 ,! 3TRIBU;N 0 RECOGNIZ$ Z 9COME 9 ! YE> ( ! DONA;N4 ,! ,AC;N ,FUND HAS AGRE$ TO MAKE ANNU;Y PAY;TS ( C#AC APPROXIMATELY @S#BD1JJJ P] YE> TO ,MRS4 ,WALH(4 ,! PRES5T VALUE ( ^! PAY;TS OV] ,MRS4 ,WALH('S REMA9+ LIFE"T IS CURR5TLY E/IMAT$ AT @S#IB1HAF Z ( ,DECEMB] #CA1 #BJBC4 ,ALL PROVI.NS ( ! ,TRU/ ,AGREE;T REMA9 UN*ANG$4 -------------------------------------#AD ,,,NOTE #D PROP]TY & EQUIP;T,' ,PROP]TY & EQUIP;T Z ( ,DECEMB] #CA1 #BJBC IS SUMM>IZ$ Z FOLL[S3 ,BRL LIBR>Y - COLLECT$ "WS3 #BAD1JDE ,(FICE FURNITURE & EQUIP;T3 #AI1EEA ,BRL PRESS EQUIP;T3 #EB1EFG ,BRL L5D+ LIBR>Y3 #ACB1DIB @.<,TOTAL3@.> #DAH1FEE ,LESS3 ,A3UMULAT$ DEPRECIA;N3 "<#BJD1FAC"> ,PROP]TY & EQUIP;T - NET3 #BAD1JDB ,"! 0 NO DEPRECIA;N EXP5SE = ! #DE YE> 5D$ ,DECEMB] #CA1 #BJBC4 A#AD ,,,NOTE #E FAIR VALUE M1SURE;TS,' ,! ,AC;N ,FUND A3.TS = ! FAIR VALUE ( XS 9VE/;TS "U ! ,FAIR ,VALUE ,M1SURE;T TOPIC ( ! ,,FASB ,A3.T+ ,/&>DS ,CODIFICA;N1 : PROVIDES ! FRAME"W = M1SUR+ FAIR VALUE4 ,T FRAME"W PROVIDES A FAIR VALUE HI]>*Y T PRIORITIZES ! 9PUTS TO VALUA;N TE*NIQUES US$ TO M1SURE FAIR VALUE4 ,! HI]>*Y GIVES ! HIKETS = ID5TICAL ASSETS OR LIABILITIES " & ! L[E/ PRIOR;Y TO UNOBS]VABLE 9PUTS "4 ,! ?REE "<#C"> LEVELS ( ! FAIR VALUE HI]>*Y "U ? GUID.E >E DESCRIB$ Z FOLL[S3 ,LEVEL #A ,9PUTS TO ! VALUA;N ME?ODOLOGY >E UNADJU/$ QUOT$ PRICES = ID5TICAL ASSETS OR LIABILITIES 9 ACTIVE M>KETS T ! ,AC;N ,FUND HAS ! ABIL;Y TO A3ESS4 B#AD ,LEVEL #B ,9PUTS TO ! VALUA;N ME?ODOLOGY 9CLUDE3 _4 QUOT$ PRICES = SIMIL> ASSETS OR LIABILITIES 9 ACTIVE M>KETS2 _4 QUOT$ PRICES = ID5TICAL OR SIMIL> ASSETS OR LIABILITIES 9 9ACTIVE M>KETS2 _4 9PUTS O!R ?AN QUOT$ PRICES T >E OBS]VABLE = ! ASSET OR LIABIL;Y2 & _4 9PUTS T >E D]IV$ PR9CIPALLY F OR CORROBORAT$ BY OBS]VABLE M>KET DATA BY CORRELA;N OR O!R M1NS4 ,IF ! ASSET OR LIABIL;Y HAS A SPECIFI$ "<3TRACTUAL"> T]M1 ! LEVEL #B 9PUT M/ 2 OBS]VABLE = SUB/ANTIALLY ! FULL T]M ( ! ASSET OR LIABIL;Y4 ,LEVEL #C ,9PUTS TO ! VALUA;N ME?ODOLOGY >E UNOBS]VABLE & SIGNIFICANT TO ! FAIR VALUE M1SURE;T4 #DG ,! ASSET OR LIABIL;Y'S FAIR #AE VALUE M1SURE;T LEVEL )9 ! FAIR VALUE HI]>*Y IS BAS$ ON ! L[E/ LEVEL ( ANY 9PUT T IS SIGNIFICANT TO ! FAIR VALUE M1SURE;T4 ,VALUA;N TE*NIQUES US$ NE$ TO MAXIMIZE ! USE ( OBS]VABLE 9PUTS & M9IMIZE ! USE ( UNOBS]VABLE 9PUTS4 ,! FOLL[+ IS A DESCRIP;N ( ! VALUA;N ME?ODOLOGIES US$ = ASSETS & LIABILITIES M1SUR$ AT FAIR VALUE3 .7,MUTUAL FUNDS1 COMMON & PREF]R$ /OCKS1 & CORPORATE BONDS3.' ,VALU$ AT ! DAILY CLOS+ PRICE Z REPORT$ BY ! FUNDS_/BONDS4 ,!Y >E OP5-5D MUTUAL FUNDS T >E REGI/]$ ) ! ,SECURITIES & ,EX*ANGE ,COMMIS.N4 ,^! FUNDS >E REQUIR$ TO PUBLI% _! DAILY NET ASSET VALUE "<,,NAV">1 TO TRANSACT AT T PRICE1 & >E DEEM$ TO 2 ACTIVELY TRAD$4 .1,ALT]NATIVE .19VE/;TS3 ,3SI/S ( MUTUAL FUNDS : >E ILLIQUID & VALU$ AT NET ASSET VALUE "<,,NAV"> US+ DAILY1 MON?LY & QU>T]LY VALUA;NS4 .7,9VE/;TS 9 LIFE 9SUR.E3.' ,VALU$ AT A3UMULAT$ VALUE1 NET ( SURR5D] A#AE *>GES4 .1,O!R .19VE/;TS3 ,VALU$ AT CO/4 .7,A3RU$ ANNU;Y B5EFITS3.' ,VALU$ AT ! PRES5T VALUE ( EXPECT$ FUTURE CA% PAY;TS 4C.T$ US+ ! 9T]E/ RATES AT ! "T ( ! GIFT & ACTU>IAL ASSUMP;NS4 ,! PREC$+ ME?ODS DESCRIB$ MAY PRODUCE A FAIR VALUE CALCULA;N T MAY N 2 9DICATIVE ( NET R1LIZABLE VALUE OR REFLECTIVE ( FUTURE FAIR VALUES4 ,FUR!RMORE1 AL? ! ,AC;N ,FUND 2LIEVES XS VALUA;N ME?ODS >E APPROPRIATE & 3SI/5T ) O!R M>KET "PICIPANTS1 ! USE ( DI6]5T ME?ODOLOGIES OR ASSUMP;NS TO DET]M9E ! FAIR VALUE ( C]TA9 F9ANCIAL 9/RU;TS CD RESULT 9 A DI6]5T FAIR VALUE M1SURE;T AT ! REPORT+ DATE4 ,"! H BE5 NO *ANGES 9 ! ME?ODOLOGIES US$ AT ,DECEMB] #CA1 #BJBC4 ,S* 9=MA;N IS ! RESPONSIBIL;Y ( MANAGE;T & 0 D]IV$ F & RELATES DIRECTLY TO ! "ULY+ A3.T+ & O!R RECORDS US$ TO PREP>E ! F9ANCIAL /ATE;TS4 #DI ,! FOLL[+ TABLE SETS =? BY #AF LEVEL1 )9 ! FAIR VALUE HI]>*Y1 ! ,AC;N ,FUND'S ASSETS & LIABILITIES AT FAIR VALUE AT ,DECEMB] #CA1 #BJBC3 ,ASSETS3 ,CORPORATE BONDS ,PAYOR ,CLASS2 ,LEVEL #A3 #B1DJA1GIJ ,PAYOR ,CLASS2 ,LEVEL #B3 """ ,PAYOR ,CLASS2 ,LEVEL #C3 """ ,PAYOR ,CLASS2 ,FAIR ,VALUE3 3 #B1DJA1GIJ ,COMMON & PREF]R$ /OCKS ,PAYOR ,CLASS2 ,LEVEL #A3 #D1CHF1JDC ,PAYOR ,CLASS2 ,LEVEL #B3 """ ,PAYOR ,CLASS2 ,LEVEL #C3 """ ,PAYOR ,CLASS2 ,FAIR ,VALUE3 #D1CHF1JDC ,MUTUAL FUNDS ,PAYOR ,CLASS2 ,LEVEL #A3 #AF1HEC1CEH ,PAYOR ,CLASS2 ,LEVEL #B3 """ ,PAYOR ,CLASS2 ,LEVEL #C3 """ ,PAYOR ,CLASS2 ,FAIR ,VALUE3 #AF1HEC1CEH ,ALT]NATIVE 9VE/;TS A#AF ,PAYOR ,CLASS2 ,LEVEL #A3 """ ,PAYOR ,CLASS2 ,LEVEL #B3 #H1DIB1FFI ,PAYOR ,CLASS2 ,LEVEL #C3 """ ,PAYOR ,CLASS2 ,FAIR ,VALUE3 #H1DIB1FFI ,O!R 9VE/;TS ,PAYOR ,CLASS2 ,LEVEL #A3 """ ,PAYOR ,CLASS2 ,LEVEL #B3 """ ,PAYOR ,CLASS2 ,LEVEL #C3 #HJ1JAB ,PAYOR ,CLASS2 ,FAIR ,VALUE3 #HJ1JAB ,9VE/;TS SUBTOTAL ,PAYOR ,CLASS2 ,LEVEL #A3 #BC1FDA1AIA ,PAYOR ,CLASS2 ,LEVEL #B3 #H1DIB1FFI ,PAYOR ,CLASS2 ,LEVEL #C3 #HJ1JAB ,PAYOR ,CLASS2 ,FAIR ,VALUE3 #CB1BAC1HGB ,O!R 9VE/;TS - LIFE 9SUR.E ,PAYOR ,CLASS2 ,LEVEL #A3 """ ,PAYOR ,CLASS2 ,LEVEL #B3 """ ,PAYOR ,CLASS2 ,LEVEL #C3 #A1FHE1AEB ,PAYOR ,CLASS2 ,FAIR ,VALUE3 #A1FHE1AEB #EA ,ASSETS AT ,FAIR ,VALUE B#AF ,PAYOR ,CLASS2 ,LEVEL #A3 #BC1FDA1AIA ,PAYOR ,CLASS2 ,LEVEL #B3 #H1DIB1FFI ,PAYOR ,CLASS2 ,LEVEL #C3 #A1GFE1AFD ,PAYOR ,CLASS2 ,FAIR ,VALUE3 #CC1HII1JBD ,LIABILITIES3 ,A3RU$ ANNU;Y B5EFITS ,PAYOR ,CLASS2 ,LEVEL #A3 """ ,PAYOR ,CLASS2 ,LEVEL #B3 """ ,PAYOR ,CLASS2 ,LEVEL #C3 #IB1HAF ,PAYOR ,CLASS2 ,FAIR ,VALUE3 #IB1HAF ,"! >E PRIVATE EQUITIES 9CLUD$ 9 ALT]NATIVE 9VE/;TS ABV T H UNFUND$ COMMIT;TS 9 ! AM.T ( @S#B1HHA1BCJ Z ( ,DECEMB] #CA1 #BJBC4 ,9CLUD$ 9 ! 9VE/;TS ABV >E 9VE/;TS T >E DONOR RE/RICT$ 9 ! AM.T ( @S#DBJ1BDC Z ( ,DECEMB] #CA1 #BJBC4 ,! FOLL[+ TABLE SETS =? A SUMM>Y ( *ANGES 9 ! FAIR VALUE ( ! ,AC;N ,FUND'S LEVEL #C ASSETS & LIABILITIES DUR+ ! YE> 5D$ ,DECEMB] #CA1 #BJBC3 ,BAL.E-2G9N+ ( YE> C#AF ,ASSETS3 #A1HCE1HEA ,LIABILITIES3 #IG1EFJ ,A3RU$ ANNU;Y B5EFIT ADJU/;T ,ASSETS3 """ ,LIABILITIES3 "<#D1GDD"> ,R$EMP;N ( CA% SURR5D] VALUE ,ASSETS3 "<#DJG1FCC"> ,LIABILITIES3 """ ,NET 9CR1SE 9 CA% SURR5D] VALUE ,ASSETS3 #CCF1IDF ,LIABILITIES3 """ ,BAL.E-5D ( YE> ,ASSETS3 #A1GFE1AFD ,LIABILITIES3 #IB1HAF -------------------------------------#AG ,! ,AC;N ,FUND'S RETURN ON 9VE/;TS = ! YE> 5D$ ,DECEMB] #CA1 #BJBC 3SI/$ ( ! FOLL[+ COMPON5TS3 #EC ,9T]E/ & DIVID5DS A#AG ,)\T DONOR RE/RIC;NS3 #A1ACH1BJH ,) DONOR RE/RIC;NS3 #G1GDC ,TOTAL3 #A1ADE1IEA ,NET R1LIZ$ GA9S " ,)\T DONOR RE/RIC;NS3 #CII1AEA ,) DONOR RE/RIC;NS3 "<#EBE"> ,TOTAL3 #CIH1FBF ,NET *ANGE 9 UNR1LIZ$ GA9S " ,)\T DONOR RE/RIC;NS3 #B1AAB1EBI ,) DONOR RE/RIC;NS3 #DF1AJD ,TOTAL3 #B1AEH1FCC ,LIFE 9SUR.E - NET ( PREMIUMS ,)\T DONOR RE/RIC;NS3 #ACI1JEF ,) DONOR RE/RIC;NS3 """ ,TOTAL3 #ACI1JEF ,9VE/;T EXP5SE ,)\T DONOR RE/RIC;NS3 "<#BED1CDD"> ,) DONOR RE/RIC;NS3 "<#BG1HCD"> ,TOTAL3 "<#BHB1AGH"> ,NET 9VE/;T 9COME B#AG ,)\T DONOR RE/RIC;NS3 #C1ECD1FJJ ,) DONOR RE/RIC;NS3 #BE1DHH ,TOTAL3 #C1EFJ1JHH ,,,NOTE #F NET ASSETS )\T DONOR RE/RIC;NS,' ,NET ASSETS )\T DONOR RE/RIC;NS AT ,DECEMB] #CA1 #BJBC >E Z FOLL[S3 ,9VE/;T 9 PROP]TY & EQUIP;T3 #BAD1JDB ,UNDESIGNAT$3 #CE1EDB1FBE ,TOTAL NET ASSETS )\T DONOR RE/RIC;NS3 #CE1GEF1FFG ,,,NOTE #G NET ASSETS ,,,) DONOR RE/RIC;NS,' ,NET ASSETS ) DONOR RE/RIC;NS AT ,DECEMB] #CA1 #BJBC >E Z FOLL[S3 ,S*OL>%IP FUND3 #EJ1JJJ #EE ,BOOK FUND3 #EJ1JJJ C#AG ,ASSETS HELD 9 TRU/3 #BBG1EAJ ,TOTAL NET ASSETS ) DONOR RE/RIC;NS3 #CBG1EAJ ,,,NOTE #H ALLOCA;N ( JO9T CO/S,' ,! ,AC;N ,FUND 9CURR$ JO9T CO/S ( @S#A1DGB1DIC = 9=MA;N MAT]IALS & ACTIVITIES T 9CLUD$ ;F UND RAIS+ APP1LS4 ,( ^? CO/S1 @S#GEJ1IGA 0 ALLOCAT$ TO FUNDRAIS+ EXP5SE & @S#GBA1EBB 0 ALLOCAT$ TO SPECIALIZ$ PROGRAMS & S]VICES4 ,MANAGE;T BAS$ ^! ALLOCA;NS ON AN ANALYSIS ( ! 3T5T ( ! MAT]IALS1 R1SONS = 4TRIBUT+ ! MAT]IALS & ! AUDI;E TO :OM ! MAT]IALS 7 4TRIBUT$4 -------------------------------------#AH ,,,NOTE #I RETIRE;T PLAN,' ,! ,AC;N ,FUND HAS A QUALIFI$ #DJC" RETIRE;T PLAN = ! B5EFIT ( ALL ELIGIBLE EMPLOYEES4 ,ELIGIBLE A#AH EMPLOYEES MAY MAKE VOLUNT>Y 3TRIBU;NS TO ! PLAN N TO EXCE$ ! ,9T]NAL ,REV5UE ,S]VICE LIMITS4 ,! ,AC;N ,FUND DID N MAKE ANY 3TRIBU;NS TO ! PLAN DUR+ ! YE>4 ,9 ADDI;N1 ! ,AC;N ,FUND HAS A NONQUALIFY+ #DEG" RETIRE;T PLAN4 ,! ,AC;N ,FUND'S 3TRIBU;N TO ? PLAN = ! YE> 5D$ ,DECEMB] #CA1 #BJBC AM.T$ TO @S#BB1EJJ4 ,,,NOTE #AJ LIQUID;Y & AVAILABIL;Y ( F9ANCIAL ASSETS,' ,! ,AC;N ,FUND'S F9ANCIAL ASSETS AVAILABLE TO MEET CA% NE$S = G5]AL EXP5DITURES )9 "O YE> ( ,DECEMB] #CA1 #BJBC >E Z FOLL[S3 ,CA% & CA% EQUIVAL5TS3 #B1ABI1FDH ,O!R RECEIVABLES3 #BC1BAD ,9VE/;TS3 #CA1HIC1FBI ,9VE/;T - ,TRU/1 NET ( LIABILITIES3 #BBG1DBG #EG ,O!R 9VE/;TS - LIFE 9SUR.E3 B#AH #A1FHE1AEB ,TOTAL F9ANCIAL ASSETS3 #CE1IEI1JGJ ,DONOR IMPOS$ RE/RIC;NS ,S*OL>%IP FUND3 "<#EJ1JJJ"> ,BOOK FUND3 "<#EJ1JJJ"> ,ASSETS HELD 9 TRU/3 "<#BBG1EAJ"> ,F9ANCIAL ASSETS AVAILABLE TO MEET CA% NE$S = G5]AL EXP5DITURES )9 "O YE>3 #CE1FCA1EFJ ,Z "P ( ! ,AC;N ,FUND'S LIQUID;Y MANAGE;T1 X HAS A POLICY TO /RUCTURE XS F9ANCIAL ASSETS TO 2 AVAILABLE Z XS G5]AL EXP5DITURES1 LIABILITIES & O!R OBLIGA;NS COME DUE4 ,9 ADDI;N1 ! ,AC;N ,FUND 9VE/S CA% 9 EXCESS ( DAILY REQUIRE;TS 9 %ORT T]M 9VE/;TS4 ,G5]AL EXP5DITURES >E EXP5SES ! ,AC;N ,FUND EXPECTS TO 4BURSE = PROGRAM & SUPPORT+ S]VICES4 @.<,! ,5D@.>