sustainable harvest international annual report fy1999

7/29/2019 Sustainable Harvest International Annual Report FY1999

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SUSTAINABLE HARVEST INTERNATIONAL

Audited Financial ReportFiscal Year 1999 - For the period August 1, 1998 through June 30, 1999

Independent Auditors Report

August 18, 1999

To the Board of DirectorsSustainable Harvest International

Portsmouth, New Hampshire

We have audited the accompanying statement of financial position ofSustainable Harvest Internationalasof June 30, 1999, and the related statements of activities and changes in net assets, functional expenses andcash flows for the eleven-month period then ended. These financial statements are the responsibility of theOrganizations management. Our responsibility is to express an opinion on these financial statements based

on our audit.

We conducted our audit in accordance with generally accepted auditing standards. Those standards require

that we plan and perform the audit to obtain reasonable assurance about whether the financial statements arefree of material misstatement. An audit includes examining, on a test basis, evidence supporting the amountsand disclosures in the financial statements. An audit also includes assessing the accounting principles usedand significant estimates made by management, as well as evaluating the overall financial statementpresentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financialposition ofSustainable Harvest Internationalas of July 30, 1999, and the results of its operations and itscash flows for the eleven-month period then ended in conformity with generally accepted accountingprinciples.

Cummings, Lamont, and McNamee, P.A.Certified Public Accountants

STATEMENT OF FINANCIAL POSITION

June 30, 1999

CURRENT ASSETS:

185,25$)1(,stnelaviuqehsacdnahsaC

322,4$8991ni330,2$fonoitaicerpeddetalumuccafoten,tnempiuqednaytreporP

Total Assets $56,804

CURRENT LIABILITIES:

Accounts payable $2,436

Accrued payroll taxes $798

432,3$seitilibaiLtnerruClatoT

NET ASSETS:

Unrestricted $53,570

408,65$:STESSATENDNASEITILIBAILLATOT


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STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS

For the eleven-month period ended June 30, 1999

REVENUES, GAINS AND

OTHER SUPPORTUnrestricted Restricted Total

003,841$566,35$536,49$)3,2(,snoitubirtnoC

511,81$-511,81$stnevegnisiar-dnuF

606,4$-606,4$seuneverrehtO

Total Revenues, Gains

and Other Support$117,356 $53,665 $171,021

EXPENSES

110,801$-110,801$sesnepxEmargorPlatoT

336,02$-336,02$lareneg&tnemeganaM

145,31$-145,31$gnisiardnuF

471,43$-471,43$secivreSgnitroppuSlatoT

TotalExpenses

$142,185 - $142,185

638,82$STESSANIEGNAHC

437,42$RAEYFOGNINNIGEB,STESSATEN

075,35$RAEYFODNE,STESSATEN

STATEMENT OF FUNCTIONAL EXPENSES

For the eleven-month period ended June 30, 1999

Program

ExpensesManagement Fundraising Total

210,53728,6503,8088,91seiralaS

913,2474422126,1stifeneB

097,2855076265,1sexaTlloryaP

013,12--013,12ffatSdleiF

046,24--046,24seilppuSdleiF

760,11--760,11levarTdleiF

398,1374749374noitaicerpeD555841021782.buSdnaseuD

305,1305,1--renniDlaunnA

756,4-394,3461,1)3(,seeF.forP

732,2955955911,1rettelsweN

058,3369429,1369)2(,.litUdnatneR

619854-854tnempiuqe-tneR

88-4444.tniaMdnasriapeR


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241,1822343175seilppuSeciffO

336,1341322762,1egatsoP

372,2865865731,1gnitnirP

364611611132snoitacilbuP

858,1-858,1-.ciLdnastimreP

970,3325933712,2enohpeleT

009-009-sesnepxErehtO581,241145,31336,02110,801latoT

notes:

There were no cash equivalents at June 30, 1999.1.The Organization uses its office space at no charge. The estimated value of this donated space and theassociated utilities is $350 per month. The value of this contribution has been included in income, withan offsetting expense for rent and utilities.

2.

The audit of the Organizations July 31, 1998 financial statements was done at no charge to the

Organization. The value of these professional services was $4,500 and is included with income fromcontributions and expenses for professional fees.

3.

sustainable harvest international annual report fy1999

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