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Company Analysis Assignment PRT 503

November 2011

ELIADA HOMES, INC.

ORGANIZATION ANALYSIS

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North Carolina State University Department of Parks, Recreation, and Tourism Management

Table of Contents

Executive Summary…………………………………………………………………………………4 Company Profile……………………………………………………………………………………...5

Mission Statement……………………………………..5 Objectives……………………………………………….…5 Company History……………………………………….6 Economic Issues……………………………………………………………………………………….7 Revenue and Expenditure Summary………………………………………………………….8 Revenue and Expenses 2008-‐2010……………………………………………………………8 Quarterly Revenue and Expenses………………………………………………………………9 Asset and Liabilities Summary…………………………………………………………………..10 Assets and Liabilities 2008-‐2010………………………………………………………………10 Financial Analysis and Ratios……………………………………………………………………11 Current Ratios………………………………………………………………………………………….11 Total Debt Ratios……………………………………………………………………………………...12 Revenue Ratios…………………………………………………………………………………………13 Revenue Ratios…………………………………………………………………………………………14 Revenue Ratios…………………………………………………………………………………………15

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Demand Ratios………………………………………………………………………………………….16 Demand Ratios………………………………………………………………………………………….17 Future Trends…………………………………………………………………………………………..18 References………………………………………………………………………………………………..19 Appendix………………………………………………………………………………………………….20

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Executive Summary Eliada Homes, Inc. has actually done very well; despite these past years tough economic times. As Eliada has continued to grow so has its organization as a whole. To be better able to focus on certain aspects of the company, such as operations, the Eliada Foundation, Inc. was formed. This was made possible through the transfer of real estate and investment assets. The Foundation is able to support Eliada Homes, Inc. on an on-‐going basis granting this operational support, as well as, development and fundraising. The Eliada Foundation currently has $11 million dollars in assets and has allowed it’s endowment funds earnings to be re-‐invested for growth, and have approximately $2.6 million invested in funds. A full 87% on every dollar donated goes directly to the students care. According to The American Institute of Philanthropy, “ a not-‐for-‐profit organizations unrestricted net assets should total less than three years of it’s current budget, and that at least 60% of it’s total expenses should be spent on program services rather than on administration and funding.” (Chemielewski T.) As the following graphs will show, the total unrestricted net assets for 2008 were $492,087, for 2009, $671,325, and for 2010, $663,282. The total revenue reported from 2011 is $2,426,593.42 and the total expenses came out to $2,319672. “Endowments, benefactors, and public and private funds as well as many special fund raising events fund Eliada. The board of Trustees is very focused on increasing the donor base, building Eliada’s endowment funds for the future, as well as enhancing visibility in the community moving towards their 20 year plan.”(Kelley, A.T 2010 annual report) Because the Board of Trustees is focused on the mission of Eliada and helping children and families succeed. These strengths as well as good management skills will help Eliada stay solid and experience continued growth in the future.

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Company Profile Mission Statement “Helping Children Succeed” Vision “To create and optimal learning environment that empowers children and their families to succeed.” Core Values Faith, Hope, and Love Objectives To become a community of highly integrated, educational, treatment and character developing programs for children, families, and the community. To become financially independent through endowments, benefactors, and public/private funds. Eliminate dependence on federal and state public funding. History of Eliada Homes, Inc. In 1903, Reverend Lucious B. Compton opened a home for un-‐wed mothers and called it “Faith Cottage”. This cottage resided in many locations before the last one closed in 1971. Faith Cottage served over 3,000 mothers. Rev. Compton built a cabin on property in West Asheville and called it Eliada, a biblical name meaning “One for whom God cares.” Eliada became an orphanage and a working farm and soon had a dairy barn and many animals. The kids worked the farm from gardening to milking cows. In the 1990’s Eliada became a more campus based mental health facility and expanded its residential programs. By encompassing the core values of faith, hope, and love and striving towards the 20 year plan of continuing to improve ways and means to help children and families succeed, Eliada looks to stay financially stable and grow towards their mission. (Eliada Homes, Inc. 2011)

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Timeline: 1903-‐ Reverend Lucious B. Compton opens Faith Cottage 1906-‐ Reverend Compton builds the first cabin on property in West Asheville 1909-‐ First cow is purchased. In the future Eliada Guernsey cows would provide milk for Biltmore dairy, one of the largest dairy distributors in area. 1910-‐ A farm is given to Eliada, providing sustenance and income for the residents of Eliada for decades to come. 1911-‐ the school and chapel are open 1916-‐ Eliada’s first barn is built. 1948-‐ Rev. Compton dies. 1960-‐ four new houses are built: Eliada transitions from dormitory living to cottage style accommodations for the children. 1979-‐ Child development center opens, offering day care, afterschool, summer camp, and other services. 1980-‐A foster care is added, the on-‐campus school is re-‐opened and Eliada transitions to residential group care. 1990-‐ Eliada incorporates more campus based mental health treatment. A level IV secure facility is opened. 2000-‐ Eliada provided enhanced services such as Therapeutic animal stewardship and NYPUM mini-‐bike incentive program. 2002-‐ Eliada begins residential interns offering college graduates training in exchange for a year’s service. 2003-‐ Eliada reinstitutes a competitive athletics program that has been inactive for 30 years. 2006-‐Eliada opens the first adolescent free-‐standing psychiatric residential treatment facility serving children who need intensive mental health services.

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Economic Issues

Eliada Homes, Inc. appears to be financially sound according to these past three years reports as well as the 100 years it has been able to keep in operation. By monitoring the annual budget closely, according to the Board of Trustees, as well as having reinvested the endowment funds for growth and having approximately $2.6 million in invested funds, the future looks to be stable. The Economic issues appear to be in staff turnover due to low salaries and extra work added to staff because of recent staff cuts. This is the norm, it seems throughout my research on nonprofit organizations. As explained in the article Sustaining non-‐profits during economic downturns, The author is discussing this issue and states “Those employees and volunteers who remain with the non-‐profit are placed under greater stress due to increased responsibilities and longer hours.”1 These added workloads have also caused the morale of the company to decline.

As mentioned above, Eliada Home has been fortunate during the past years economic issues by planning ahead and having a strong community of families, board members, staff, businesses, and donors. The following Revenue and Expense charts show the stability of the organization more fully.

1 Head, G.L. (2011) Sustaining Nonprofits During Economic Downturns, Retrieved on November 1, 2011 from http://www.nonprofitrisk.org/library/articles/strategy09002003.shtml

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During the past three years, Eliada Home, Inc. has looked fairly stable and balanced between its revenue and expenses. Between 2009 and 2010 there was an increase of $119, 491 (1.27%) due to a higher rate of individual donations, In-‐Kind Gifts, Medicaid, and Child Development fees. Expenses, however, rose by $195,331 or 2.12%. Because of the increase in Child Development more staff was need causing an increase of 4.51% in extra wages and salaries.

9,050,000 9,100,000 9,150,000 9,200,000 9,250,000 9,300,000 9,350,000 9,400,000 9,450,000 9,500,000

2008 2009

2010

2008 2009 2010 Revenue 9,211,213 9,373,118 9,492,609 Expenses 9,256,097 9,219,094 9,414,425

Revenue & Expenses

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Eliada Homes, Inc. Quarterly revenue for 2009 and 2010 shows consistency. The Expenses, however, increase by $308,285. Between January and June 2010 the biggest expenses were as follows, thirty plus new staff were added which caused an increase in salaries and wages by $52,094.10 as well as

increasing overtime pay by $12,251.10, employee benefits by $49,821.22 and payroll taxes by $16,821.22. The purchase of more small equipment showed an increase of $19,766.39 due to the renovation of one of the barns also,

repair and maintenance and land to $61,069.89 due to a landscaping project as well as painting and equipment repair.

2,050,000 2,100,000 2,150,000 2,200,000 2,250,000 2,300,000 2,350,000 2,400,000 2,450,000 2,500,000

2,550,000

2009 July Oct.09

Jan.2010 2010 April

2009 July Oct.09 Jan.2010 2010 April Revenue 2,426,384 2,351,421 2,491,639 2,223,164 Expenses 2,273,848 2,355,855 2,253,271 2,531,449

Quarterly Revenue & Expense

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Throughout the three years shown, the organizations liabilities where less than half of it’s total assets each year. The unrestricted net assets total 5,480, 082 which equals less than three years of the current budget in 2010. According to Eliada Homes, Inc. financial statement and supplementary information, the definition of unrestricted assets “consist of all resources of the Organization which have no donor-‐imposed restrictions.”(Price & Sprinkle p.8)

0 200,000 400,000 600,000 800,000

1,000,000 1,200,000 1,400,000 1,600,000 1,800,000

2008 2009 2010 Assests 1,494,789 1,496,877 1,756,860 Liabilities 628,141 628,141 614,314 Unrestricted Net Assets 492,087 671,325 663,282

Assets and Liabilities

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Financial Analysis and Ratios The current ratio is the measure of short-‐term liquidity. The 2010 current ratio shows a gain of .48 from 2008. From 2008 to 2009 the difference shows that currently there is 2.85 in current assets for every dollar in current liabilities. These ratios show continued growth and stability in the organization. 2010 Current Assets / Current Liabilities = Current Ratio 1,756,869 / 614,314 = 2.85 Times 2009 Current Assets / Current Liabilities = Current Ratio 1,496,877 / 628,141 = 2.38 Times 2008 Current Assets / Current Liabilities = Current Ratios 1,494,789 / 628,141 = 2.37 Times

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Total Debt Ratio The total debt ratio indicates what proportion of debt a company has relative to its assets. The 2008 current ratio showed that it has 46% debt meaning it has $.46 in debt for every dollar in assets. Compared to 2009, where its debt dropped 17% to 29% and in 2010 climbing back to 39% a 10% difference from its previous year. 2010 Current Assets – Total Equity / Total Assets = Total Debt Ratio 1,548,478 – 868,736 / 1,756,860 = .39 Times 2009 Current Assets – Total Equity / Total Assets = Total Debt Ratio 1,239,446 – 802,812 / 1,496,877 = .29 Times 2008 Current Assets – Total Equity / Total Assets = Total Debt Ratio 1,494,789 – 802,812 / 1,496,877 = .46 Times

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Future Trends Eliada Homes, Inc. is shown throughout this analysis to be a stable and strong organization along with The Eliada Foundation backing it up with Fundraising, grants, and raising volunteer support among a host of other financial gains. The organization has been around over 100 years and has proven to be an effective environment for “Helping Children Succeed” With the investments and trusts set up and overseen by the Board of Trustees, Eliada Homes, Inc. is well on their way towards their twenty year plan of being “financially independent through endowments, benefactors, and public /private funds. Eliminate dependence on federal and state public funding.” (Eliada Home, Inc. Strategic plan)

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References Chmielewski, T. (n.d.). Issues Surrounding Not-‐for-‐Profit Organizations. Retrieved November 10, 2011, from http://smallbusiness.chron.com/issues-‐surrounding-‐not-‐for-‐profit-‐organizations-‐4758.html Ewers, J. (2008). The Problem With Nonprofits. Retrieved on November 11, 2011, from http://www.usnews.com/news/national/articles/2008/03/04/the-‐problem-‐with-‐nonprofits Head, G.L. Phd. (2011) Sustaining Nonprofits During Economic Downturns. Nonprofit risk management center. Leesburg, Va. Retrieved on November 9, 2011 from, http://www.nonprofitrisk.org/library/articles/strategy09002003.shtml Southern Utah University. Financial Indicators 2007. Retrieved Nov. 23, 2011 from, http://www.suu.edu/ad/finserv/pdf/08-‐financial-‐indicators.pdf

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Appendix Eliada Homes, Inc. financial statements FY08, FY09 & FY10 Eliada Homes, Inc. Annual Report 2010 ssuu.com/eliada/docs/2008_annual_report issuu.com/eliada/docs/annual_report_2010_web http://www.eliada.org/about/history

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Eliada Homes, Inc.Statement of Revenues and Expenditures by Period

From 7/1/2009 Through 6/30/2010

9/30/20097/1/2009 -

12/31/200910/1/2009 -

3/31/20101/1/2010 -

6/30/20104/1/2010 -

Total

Operating RevenueIn-Kind Gifts Received 4020 7,200.00 7,200.00 7,200.00 37,200.00 58,800.00 Client Payments 4050 124,554.41 81,330.49 68,810.63 86,248.84 360,944.37 Client Registration Fees 4055 1,143.00 125.00 1,975.00 3,050.00 6,293.00 DSS Purchase of Care/Services

4110 77,240.78 69,526.78 77,842.69 72,813.61 297,423.86

NC Grant / Non IV-E 4120 0.00 0.00 23,369.14 0.00 23,369.14 SSI/Parent Room & Board Payments

4140 23,388.21 9,167.75 6,952.58 8,839.88 48,348.42

Room & Board Scholarships

4145 (11,759.90) (2,310.38) (363.40) (1,588.05) (16,021.73)

School Lunch 4150 49,554.66 40,377.14 41,087.35 46,347.55 177,366.70 Child Development 4180 189,423.15 122,820.24 141,690.87 165,766.64 619,700.90 Smart Start Funding 4190 89,548.70 135,773.89 135,635.05 88,193.84 449,151.48 Fees from Area Mental Health

4220 5,500.91 7,440.66 31,546.11 300.00 44,787.68

Fees from Health Choice 4230 131,366.77 113,551.79 232,894.40 216,238.18 694,051.14 Medicaid Direct Enrollment

4240 1,609,533.38 1,565,643.22 1,517,021.62 1,595,644.79 6,287,843.01

Fees From Third Party Payers

4250 6,668.41 26,425.51 8,078.36 (14,918.71) 26,253.57

Federal Grants 4320 0.00 0.00 0.00 48,807.46 48,807.46 Other Government Grants 4360 0.00 14,090.00 8,940.00 9,847.00 32,877.00 Trust Income 4450 1,526.47 1,370.54 1,845.80 1,332.26 6,075.07 Enhanced Services Fees 4670 5,751.00 6,440.00 1,690.00 4,089.42 17,970.42 Reimbursment Income 4680 11,584.57 25,875.21 14,811.64 (28,778.50) 23,492.92 Program Fundraiser 4690 445.23 0.00 321.25 0.00 766.48 Gain (Loss) on Sale or Disposal of Asset

4710 0.00 (1,000.29) 0.00 1,778.29 778.00

Change in Value 4720 0.00 0.00 0.00 16,300.00 16,300.00 Miscellaneous Income 4810 822.00 240.00 142.00 122.00 1,326.00 Interest Income 4815 328.26 251.21 112.82 328.39 1,020.68 Discounts Given 4850 (1,296.07) (612.38) (455.00) (419.37) (2,782.82)Pass through Revenue from Foundation

4880 92,667.75 119,811.75 162,429.06 (142,501.27) 232,407.29

Transfer From Temp. Restricted

4890 3,692.46 383.70 561.05 622.00 5,259.21

Management Fee from Foundation

4920 7,500.00 7,500.00 7,500.00 7,500.00 30,000.00

Total Operating Revenue 2,426,384.15 2,351,421.83 2,491,639.02 2,223,164.25 9,492,609.25

Total Revenue 2,426,384.15 2,351,421.83 2,491,639.02 2,223,164.25 9,492,609.25

Operating ExpensesWages and Salaries 5001 1,326,725.30 1,362,413.57 1,332,018.19 1,384,112.29 5,405,269.35 Overtime Pay 5002 42,082.79 50,173.51 52,203.22 64,454.34 208,913.86 Leave Pay 5003 4,606.17 6,905.70 3,646.31 10,720.73 25,878.91 Employee Benefits 5004 119,757.33 185,068.32 112,032.07 161,853.29 578,711.01 Payroll Taxes 5005 112,969.02 110,506.02 115,961.26 128,849.27 468,285.57 Pension Expense 5006 11,602.44 13,329.77 8,161.57 14,947.80 48,041.58 Bonus Payments 5008 200.00 200.00 400.00 80,999.20 81,799.20 Staff Medical 5010 1,276.38 1,337.92 2,631.80 1,066.00 6,312.10 Staff Recognition 5011 2,789.77 114.00 266.10 2,884.91 6,054.78 Staff Training 5012 3,967.89 2,900.71 6,685.08 8,433.20 21,986.88 Staff Travel 5013 962.93 (292.14) 220.00 1,089.03 1,979.82 Staff/Board Meals 5014 2,257.48 1,203.24 1,215.91 1,250.19 5,926.82 Dues and Subscriptions 5016 1,439.89 1,030.04 8,380.24 1,426.99 12,277.16 Licenses and Fees 5017 2,322.00 13,331.72 3,749.93 7,570.79 26,974.44

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From 7/1/2009 Through 6/30/2010

9/30/20097/1/2009 -

12/31/200910/1/2009 -

3/31/20101/1/2010 -

6/30/20104/1/2010 -

Total

Information Systems Expense

5019 2,420.47 2,508.63 1,787.27 5,278.64 11,995.01

Insurance - Workers Comp 5020 55,544.31 76,641.22 60,983.57 3,056.44 196,225.54 Insurance - Commercial Package

5021 21,572.13 21,733.66 23,020.95 22,138.00 88,464.74

Insurance - Vehicle 5022 6,861.59 6,822.30 6,885.00 6,719.61 27,288.50 Office & General Supplies 5030 8,313.99 5,997.83 7,444.05 9,702.53 31,458.40 Bank Service Charges 5032 1,351.94 1,273.88 1,146.65 1,608.41 5,380.88 Postage and Freight 5034 1,772.34 1,308.13 930.40 1,081.17 5,092.04 Telephone & Communication Expense

5035 15,666.80 11,288.29 14,234.64 14,394.11 55,583.84

Small Equipment Purchases

5040 20,884.30 4,080.27 4,970.60 24,736.99 54,672.16

Equipment Rental 5041 5,136.03 7,769.96 6,555.56 8,198.51 27,660.06 Advertising 5050 2,806.42 1,879.47 2,505.28 3,678.80 10,869.97 Audit 5051 7,500.00 8,800.00 1,628.49 8,142.42 26,070.91 Legal and Accounting 5052 0.00 900.00 4,197.00 56.00 5,153.00 Professional Fees 5053 2,277.50 419.95 1,631.25 1,003.00 5,331.70 COA Expenses 5055 0.00 0.00 400.00 0.00 400.00 Miscellaneous Expense 5090 326.64 (757.31) (217.46) (3.81) (651.94)Property Taxes 5091 44.49 407.81 17.56 135.36 605.22 Interest Expense 5092 3,590.76 2,195.70 1,925.78 2,769.76 10,482.00 Discount Earned - N/P 5092D 0.00 0.00 0.00 2,016.54 2,016.54 Fines, Penalties, & Paybacks

5096 0.00 0.00 0.00 81.23 81.23

Bad Debt Expense 5097 0.00 1,497.91 1,360.40 0.00 2,858.31 Casualty Loss Expense 5098 5,672.39 (695.00) 0.00 0.00 4,977.39 Electricity 6001 28,671.56 21,379.86 27,590.50 23,620.58 101,262.50 Natural or Propane Gas 6002 2,767.32 4,993.78 25,188.46 11,624.92 44,574.48 Water/Sewer 6003 11,307.29 6,127.92 10,194.80 14,526.39 42,156.40 Garbage Pickup & Shredding

6010 7,239.00 7,278.00 8,530.22 7,868.57 30,915.79

Medical Waste Disposal 6011 670.20 706.68 779.64 779.64 2,936.16 Rent 6015 51,624.00 51,624.00 51,624.00 81,624.00 236,496.00 Repair & Maint - Bldgs 6021 51,143.31 53,938.92 48,089.44 79,159.33 232,331.00 Repair & Maint - Equip 6022 7,077.90 2,222.95 4,565.31 4,788.65 18,654.81 Repair & Maint - Land 6023 7,913.72 5,407.73 7,151.13 11,114.61 31,587.19 Pool Expenses 6025 1,339.09 0.00 0.00 812.25 2,151.34 Vehicle Gas 6031 6,508.84 6,042.00 5,103.34 6,895.93 24,550.11 Vehicle Maintenance 6044 4,386.22 1,758.15 3,213.48 5,070.97 14,428.82 Vehicle Lease/Rental 6045 696.61 603.38 293.28 658.14 2,251.41 Veternarian Fees/Meds/Animal Services

6053 1,014.21 2,988.03 1,381.17 5,106.41 10,489.82

Animal Feed/Supplies 6080 660.25 3,610.68 919.20 778.93 5,969.06 Volunteer & Donor Travel/Meals

7013 0.00 12.15 0.00 0.00 12.15

Public Relations Expense 7018 40.92 0.00 200.00 0.00 240.92 Banquets 7020 0.00 0.00 0.00 3,072.27 3,072.27 Special Events Expenses 7021 910.80 695.51 (260.00) 1,535.29 2,881.60 Client Hygiene/Grooming 8001 917.46 1,043.76 927.33 1,024.27 3,912.82 Client Medical 8010 3,830.37 1,261.47 2,453.53 1,729.22 9,274.59 Client Recognition 8011 1,070.97 1,630.31 1,317.65 4,578.02 8,596.95 Client Education/Training 8012 305.99 140.97 432.78 429.51 1,309.25 Client Travel 8013 5.25 0.00 0.00 50.00 55.25 Client Meals 8014 451.55 1,014.61 1,233.22 740.47 3,439.85 Client Recreation 8015 9,466.76 1,977.65 1,117.69 3,291.64 15,853.74

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From 7/1/2009 Through 6/30/2010

9/30/20097/1/2009 -

12/31/200910/1/2009 -

3/31/20101/1/2010 -

6/30/20104/1/2010 -

Total

Therapeutic Recreation/NYPUM Expense

8016 0.00 0.00 0.00 250.00 250.00

Client Allowances 8020 16.00 32.40 50.00 61.50 159.90 Work Study Program/Job Skills Training

8021 2,145.66 385.50 561.05 622.00 3,714.21

Program Supplies 8030 23,089.42 18,265.92 21,099.43 27,698.91 90,153.68 Household/Office Furnishings

8031 784.06 4,063.14 2,260.59 7,808.58 14,916.37

Program Food 8032 65,843.41 69,447.79 72,115.49 73,881.65 281,288.34 Clothing 8033 4,192.38 3,747.58 4,943.27 6,099.07 18,982.30 Books/Curriculum Materials

8034 497.57 671.82 1,291.32 1,747.74 4,208.45

Professionals Fees-Client Svcs

8053 40,407.04 42,984.96 43,612.00 44,323.88 171,327.88

Security Costs 8060 260.40 1,281.75 509.50 545.00 2,596.65 Foster Care Payments 8070 69,017.99 67,969.05 57,703.15 56,228.78 250,918.97 Portion Foster Care Pymts for Admin. Fee

8070A 68,967.64 67,868.39 57,540.17 56,228.80 250,605.00

Transfer to operating fund 9095 3,692.46 383.70 561.05 622.00 5,259.21 Contribution to Affiliate 9999 213.34 0.00 0.00 0.00 213.34

Total Operating Expenses 2,273,848.45 2,355,855.59 2,253,271.86 2,531,449.66 9,414,425.56

Operating Profit (Loss) 152,535.70 (4,433.76) 238,367.16 (308,285.41) 78,183.69

Non Operating ItemsDepreciation 6095 (21,009.72) (18,399.75) (16,897.00) (19,821.93) (76,128.40)

Total Non Operating Items (21,009.72) (18,399.75) (16,897.00) (19,821.93) (76,128.40)

Excess Revenue Over Expenses 131,525.98 (22,833.51) 221,470.16 (328,107.34) 2,055.29

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Eliada Homes, Inc.Statement of Revenues and Expenditures - Two Year Comparison

From 7/1/2009 Through 6/30/2010

YTD Actual Prior Year Actual ChangeCurrent Year

ChangeCurrent Year %

Operating RevenueIn-Kind Gifts Received 4020 58,800.00 28,800.00 30,000.00 104.17 Client Payments 4050 360,944.37 376,138.65 (15,194.28) (4.04)Client Registration Fees 4055 6,293.00 6,990.00 (697.00) (9.97)DSS Purchase of Car... 4110 297,423.86 260,804.51 36,619.35 14.04 NC Grant / Non IV-E 4120 23,369.14 300.00 23,069.14 7,689.71 SSI/Parent Room & B... 4140 48,348.42 142,304.13 (93,955.71) (66.02)Room & Board Schol... 4145 (16,021.73) (77,020.72) 60,998.99 (79.20)School Lunch 4150 177,366.70 173,736.66 3,630.04 2.09 Child Development 4180 619,700.90 566,442.25 53,258.65 9.40 Smart Start Funding 4190 449,151.48 452,360.09 (3,208.61) (0.71)Fees from Area Ment... 4220 44,787.68 341,467.50 (296,679.82) (86.88)Fees from Health Cho... 4230 694,051.14 484,205.13 209,846.01 43.34 Medicaid Direct Enroll... 4240 6,287,843.01 6,065,383.63 222,459.38 3.67 Fees From Third Part... 4250 26,253.57 1,204.77 25,048.80 2,079.14 Federal Grants 4320 48,807.46 0.00 48,807.46 100.00 Foundation/Business ... 4350 0.00 166,129.11 (166,129.11) (100.00)Other Government Gr... 4360 32,877.00 0.00 32,877.00 100.00 Trust Income 4450 6,075.07 5,129.13 945.94 18.44 Rental Income - Buildi... 4650 0.00 3,250.00 (3,250.00) (100.00)Enhanced Services F... 4670 17,970.42 12,945.00 5,025.42 38.82 Reimbursment Income 4680 23,492.92 43,598.47 (20,105.55) (46.12)Program Fundraiser 4690 766.48 798.38 (31.90) (4.00)Gain (Loss) on Sale o... 4710 778.00 6,684.84 (5,906.84) (88.36)Change in Value 4720 16,300.00 (36,100.00) 52,400.00 (145.15)Miscellaneous Income 4810 1,326.00 2,830.35 (1,504.35) (53.15)Interest Income 4815 1,020.68 503.97 516.71 102.53 Discounts Given 4850 (2,782.82) (7,060.41) 4,277.59 (60.59)Pass through Revenu... 4880 232,407.29 45,280.42 187,126.87 413.26 Transfer From Temp. ... 4890 5,259.21 77,627.41 (72,368.20) (93.23)Management Fee fro... 4920 30,000.00 228,385.72 (198,385.72) (86.86)

Total Operating Revenue 9,492,609.25 9,373,118.99 119,490.26 1.27

Total Revenue 9,492,609.25 9,373,118.99 119,490.26 1.27

Operating ExpensesWages and Salaries 5001 5,405,269.35 5,171,998.69 233,270.66 4.51 Overtime Pay 5002 208,913.86 184,246.07 24,667.79 13.39 Leave Pay 5003 25,878.91 29,351.06 (3,472.15) (11.83)Employee Benefits 5004 578,711.01 524,588.03 54,122.98 10.32 Payroll Taxes 5005 468,285.57 460,051.59 8,233.98 1.79 Pension Expense 5006 48,041.58 54,126.30 (6,084.72) (11.24)Bonus Payments 5008 81,799.20 8,300.00 73,499.20 885.53 Temporary Wages 5009 0.00 6,717.96 (6,717.96) (100.00)Staff Medical 5010 6,312.10 8,871.02 (2,558.92) (28.85)Staff Recognition 5011 6,054.78 3,186.98 2,867.80 89.98 Staff Training 5012 21,986.88 19,809.08 2,177.80 10.99 Staff Travel 5013 1,979.82 8,721.37 (6,741.55) (77.30)Staff/Board Meals 5014 5,926.82 10,072.67 (4,145.85) (41.16)Dues and Subscriptions 5016 12,277.16 12,554.28 (277.12) (2.21)Licenses and Fees 5017 26,974.44 25,320.37 1,654.07 6.53 Information Systems ... 5019 11,995.01 16,888.99 (4,893.98) (28.98)Insurance - Workers ... 5020 196,225.54 252,665.18 (56,439.64) (22.34)Insurance - Commerci... 5021 88,464.74 99,930.75 (11,466.01) (11.47)Insurance - Vehicle 5022 27,288.50 25,583.10 1,705.40 6.67 Office & General Sup... 5030 31,458.40 33,190.72 (1,732.32) (5.22)Bank Service Charges 5032 5,380.88 4,847.27 533.61 11.01 Postage and Freight 5034 5,092.04 12,303.42 (7,211.38) (58.61)

26


From 7/1/2009 Through 6/30/2010



Telephone & Commu... 5035 55,583.84 57,470.62 (1,886.78) (3.28)Small Equipment Pur... 5040 54,672.16 42,416.98 12,255.18 28.89 Equipment Rental 5041 27,660.06 27,426.74 233.32 0.85 Advertising 5050 10,869.97 11,858.75 (988.78) (8.34)Audit 5051 26,070.91 30,909.25 (4,838.34) (15.65)Legal and Accounting 5052 5,153.00 5,579.50 (426.50) (7.64)Professional Fees 5053 5,331.70 63,646.76 (58,315.06) (91.62)COA Expenses 5055 400.00 7,607.59 (7,207.59) (94.74)Miscellaneous Expense 5090 (651.94) 18.47 (670.41) (3,629.72)Property Taxes 5091 605.22 609.44 (4.22) (0.69)Interest Expense 5092 10,482.00 6,688.97 3,793.03 56.71 Discount Earned - N/P 5092D 2,016.54 1,920.11 96.43 5.02 Fines, Penalties, & P... 5096 81.23 963.48 (882.25) (91.57)Bad Debt Expense 5097 2,858.31 24,734.65 (21,876.34) (88.44)Casualty Loss Expense 5098 4,977.39 500.00 4,477.39 895.48 Electricity 6001 101,262.50 80,964.76 20,297.74 25.07 Natural or Propane Gas 6002 44,574.48 55,917.20 (11,342.72) (20.28)Water/Sewer 6003 42,156.40 35,753.52 6,402.88 17.91 Garbage Pickup & Sh... 6010 30,915.79 28,917.00 1,998.79 6.91 Medical Waste Disposal 6011 2,936.16 2,431.52 504.64 20.75 Rent 6015 236,496.00 210,942.51 25,553.49 12.11 Repair & Maint - Bldgs 6021 232,331.00 202,224.13 30,106.87 14.89 Repair & Maint - Equip 6022 18,654.81 27,106.05 (8,451.24) (31.18)Repair & Maint - Land 6023 31,587.19 17,779.58 13,807.61 77.66 Pool Expenses 6025 2,151.34 1,882.15 269.19 14.30 Vehicle Gas 6031 24,550.11 25,224.72 (674.61) (2.67)Vehicle Maintenance 6044 14,428.82 15,997.28 (1,568.46) (9.80)Vehicle Lease/Rental 6045 2,251.41 0.00 2,251.41 100.00 Veternarian Fees/Med... 6053 10,489.82 5,157.18 5,332.64 103.40 Animal Feed/Supplies 6080 5,969.06 13,827.94 (7,858.88) (56.83)Direct Mail Campaign 7001 0.00 20,351.91 (20,351.91) (100.00)Volunteer/Donor Reco... 7011 0.00 758.43 (758.43) (100.00)Volunteer & Donor Tr... 7013 12.15 123.83 (111.68) (90.19)Public Relations Expe... 7018 240.92 2,602.21 (2,361.29) (90.74)Banquets 7020 3,072.27 4,830.78 (1,758.51) (36.40)Special Events Expen... 7021 2,881.60 19,047.49 (16,165.89) (84.87)Fundraising Supplies 7030 0.00 106.69 (106.69) (100.00)Client Hygiene/Groom... 8001 3,912.82 2,666.13 1,246.69 46.76 Client Medical 8010 9,274.59 9,553.52 (278.93) (2.92)Client Recognition 8011 8,596.95 10,097.74 (1,500.79) (14.86)Client Education/Train... 8012 1,309.25 3,983.22 (2,673.97) (67.13)Client Travel 8013 55.25 0.00 55.25 100.00 Client Meals 8014 3,439.85 2,028.35 1,411.50 69.59 Client Recreation 8015 15,853.74 12,199.88 3,653.86 29.95 Therapeutic Recreatio... 8016 250.00 0.00 250.00 100.00 Client Allowances 8020 159.90 79.50 80.40 101.13 Work Study Program/... 8021 3,714.21 4,502.66 (788.45) (17.51)Program Supplies 8030 90,153.68 103,323.89 (13,170.21) (12.75)Household/Office Fur... 8031 14,916.37 12,279.52 2,636.85 21.47 Program Food 8032 281,288.34 218,755.60 62,532.74 28.59 Clothing 8033 18,982.30 11,136.56 7,845.74 70.45 Books/Curriculum Mat... 8034 4,208.45 5,017.52 (809.07) (16.12)Professionals Fees-Cl... 8053 171,327.88 147,749.68 23,578.20 15.96 Security Costs 8060 2,596.65 4,364.63 (1,767.98) (40.51)Foster Care Payments 8070 250,918.97 283,417.46 (32,498.49) (11.47)Portion Foster Care P... 8070A 250,605.00 282,688.46 (32,083.46) (11.35)Transfer to operating f... 9095 5,259.21 77,627.41 (72,368.20) (93.23)Contribution to Affiliate 9999 213.34 0.00 213.34 100.00

27


From 7/1/2009 Through 6/30/2010



Total Operating Expenses 9,414,425.56 9,219,094.82 195,330.74 2.12

Operating Profit (Loss) 78,183.69 154,024.17 (75,840.48) (49.24)

Non Operating ItemsDepreciation 6095 (76,128.40) (88,100.37) 11,971.97 (13.59)

Total Non Operating Items (76,128.40) (88,100.37) 11,971.97 (13.59)

Excess Revenue Over Expe... 2,055.29 65,923.80 (63,868.51) (96.88)

28

Eliada Homes, Inc.

Balance Sheet June 30, 2010 Fiscal Year End Fiscal Year End

June 30, 2010 June 30, 2009 June 30, 2009 ASSETS:

Current Assets: Cash 569,713 225,235 225,235 Investments 202,000 185,700 185,700

Accounts Receivable 744,938 763,173 763,173 Intercompany Receivables 2,857 648 648 Inventories 9,156 7,945 7,945 Prepaid Expenses 81,151 56,744 56,744

Total Current Assets 1,609,815 1,239,446 1,239,445 Non-current Assets: Fixed Assets 208,947 257,432 257,432

Total Non-Current Assets 208,947 257,432 257,432 TOTAL ASSETS 1,818,762 1,496,877 1,496,877

LIABILITIES: Current Liabilities: Accounts Payable 141,882 114,420 114,420

Funds on Deposit (679) (598) (598) Payroll & Benefits Payable 425,907 355,450 355,450

Accrued Expenses 28,836 10,951 10,951 Line of Credit at Bank 0 0 0 Line of Credit from Eliada

Foundation 0 0 0

Intercompany Payable 232,267 0 0 Total Current Liabilities 828,213 480,223 480,223

Non-Current Liabilities:

Long-term Notes Payable 97,430 107,573 107,573

Capitalized Leases 22,328 40,345 40,345 Total Non-Current Liabilities 119,758 147,918 147,917

29

Total Liabilities 947,971 628,141 628,140

NET ASSETS: Net Assets 868,736 802,812 802,812 Gain or (Loss) 2,055 65,924 65,924 Total Net Assets 870,791 868,736 868,736 TOTAL LIABILITIES & NET

ASSETS 1,818,762 1,496,877 1,496,876

503 eliada homes, inc company analysis€¦ · ! 4!!!!! executive!summary!!!!...

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