Financials
Fiscal Year: 2009
Projected Revenue: $5,811,110
Projected Expenses: $5,811,110
Form 990s
Audit Documents
IRS Letter of Exemption
Legal Aid Society of Mid. TN 501c3.pdf
Prior Three Years Total Revenue and Expense Totals Chart
|
Fiscal Year |
2007 |
2006 |
2005 |
|
Total Revenue |
$5,940,557 |
$7,024,614 |
$5,181,092 |
|
Total Expenses |
$5,781,492 |
$5,464,796 |
$5,224,2 |
Prior Three Years Revenue Sources Chart
|
Fiscal Year |
2007 |
2006 |
2005 |
|
Foundation and Corporation Contributions |
$158,339 |
$0 |
$0 |
|
Government Contributions |
$0 |
$0 |
$0 |
|
Federal |
$1,832,303 |
$1,862,664 |
$1,913,153 |
|
State |
$0 |
$0 |
$0 |
|
Local |
$0 |
$0 |
$0 |
|
Individual Contributions |
$3,555,539 |
$4,861,805 |
$3,070,111 |
|
|
|
|
|
|
Indirect Public Support |
$248,178 |
$192,082 |
$147,364 |
|
Earned Revenue |
|
|
|
|
Interest and Dividend Income |
$102,295 |
$76,489 |
$19,046 |
|
Membership Dues |
$0 |
$0 |
$0 |
|
Special Events |
$6,350 |
$0 |
$0 |
|
Revenue In-Kind |
$1,138,278 |
$1,465,296 |
$0 |
|
Other |
$37,553 |
$31,574 |
$31,418 |
|
|
|
|
|
Prior Three Years Expense Allocations Chart
|
|
|
|
|
Fiscal Year |
2007 |
2006 |
2005 |
|
Program Expense |
$4,958,586 |
$4,778,123 |
$4,555,071 |
|
Administration Expense |
$669,079 |
$591,628 |
$574,362 |
|
Fundraising Expense |
$153,827 |
$95,045 |
$94,825 |
|
Payments to Affiliates |
$0 |
$0 |
$0 |
|
Total Revenue/Total Expenses |
1.03 |
1.29 |
0.99 |
|
Program Expense/Total Expenses |
86% |
87% |
87% |
|
Fundraising Expense/Contributed Revenue |
4% |
2% |
3% |
|
|
|
|
|
Prior Three Years Assets and Liabilities Chart
|
|
|
|
|
Fiscal Year |
2007 |
2006 |
2005 |
|
Total Assets |
$4,054,814 |
$3,816,297 |
$2,152,287 |
|
Current Assets |
$3,645,034 |
$3,369,038 |
$1,685,557 |
|
Long-Term Liabilities |
$16,572 |
$8,738 |
$14,038 |
|
Current Liabilities |
$570,919 |
$523,632 |
$465,614 |
|
Total Net Assets |
$3,467,323 |
$3,283,927 |
$1,672,635 |
|
|
|
|
|
Short Term Solvency
|
|
|
|
|
Fiscal Year |
2007 |
2006 |
2005 |
|
Current Ratio: Current Assets/Current Liabilities |
6.38 |
6.43 |
3.62 |
|
|
|
|
Long Term Solvency
|
|
|
|
|
Fiscal Year |
2007 |
2006 |
2005 |
|
Long-term Liabilities/Total Assets |
0% |
0% |
1% |
|
Endowment Value |
$18,257 |
|
|
State Charitable Solicitations Permit expires June 2009
CEO Comments
One value adopted in our strategic planning process and listed above underlies all the others: accountability in the use of funds entrusted to us fiscal integrity. We receive funding from more than 50 different sources. Some are grants; some are contracts; each has its own set of requirements. In addition, more than 1,400 individuals and firms contribute to our annual fundraising campaign. They expect us to be good stewards of those funds.
The staff accountant prepares monthly financial reports that are sent to the Board. They consist of a balance sheet and a statement of revenues and expenses. The Executive Director discusses those reports in meetings with the Board and the Board Executive Committee. Those reports also are distributed to the managing attorneys and discussed at the monthly managing attorneys meetings. In order to ensure financial stability, the organization has built a fund balance over the years. At the beginning of 2004 it was $953,000, which is 19% of the annual budget. This means that we have some financial flexibility and that the loss of one grant does not mean we necessarily have to abandon a project or stop particular advocacy while we look for other funding.0
Other Documents
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