Financial Reports

Auditor's Financial Report

IRS Status Award Letter - 501(c)(3)

As of February 28, 2011*

ASSETS

Current Assets
Cash $1,511,555.67
Receivables $ 994,302.34
Prepaid Expenses $ 13,681.55
Total Current Assets $2,519,539.56
Fixed Assets
Land $ 25,000.00
Vehicles and Equipment $ 310,189.24
Accum Depreciation - Vec./Equip. $ (155,196.73)
Buildings $ 21,308.98
Total Fixed Assets $ 201,301.49

Other Assets
Security Deposits $ 13,021.84
N/R CapitalWorks, LLC $ 100,000.00
Equity Investment-L/T $ 368,703.87
Total Other Assets $ 481,725.71
Total Assets $3,202,566.76

LIABILITIES
Current Liabilities
Payables $ 252,353.95
Deferred Revenue $ 675,264.40
Accrued Payroll $ 188,612.89
Accrued Expenses $ 98,501.86
Total Current Liabilities $1,214,733.10

FUND BALANCE
Net Assets $1,987,833.66
Total Fund Balance $1,987,833.66
Total Liabilities & Fund Balance $3,202,566.76

2010 Highlights at a Glance
223 partner organizations worked with ACAP to expand resources. 3,093 families benefited from economic opportunities provided by ACAP. Only 8 cents of every dollar was used towards administrative costs. 93 individuals received tax return assistance with $174,578 in tax refunds via Child Tax Credit, Earned Income Tax Credit, and Credit for the Elderly. 13 unique programs and 22 facilities are run by ACAP, offering centralized intake and integrated resources. $1,097,199 in donations were received. 546 volunteers dedicated 5,962 hours
of service to ACAP. $279,200 in additional funding was received to continue our Career Pathways program ($1,124,268 total for 3 years). 1,339 interagency referrals and 1,439 outside referrals were made to provide needed services. 7,055 staff training hours were completed to improve service quality.