2008 Audited Financials

ASSETS                 Unrestricted   Temporarily Restricted   Total CURRENT ASSETS             Cash  $  139,211    $     10,977    $  150,188   Certificates of deposit 22,396       22,396   Accounts receivable 700       700   Prepaid Expense 5,360       5,360       167,667   10,977   178,644                 PROPERTY AND EQUIPMENT 26,218       26,218                 OTHER ASSETS             Deposit 1,337       1,337                 TOTAL ASSETS  $  195,222    $     10,977    $  206,199                 LIABILITIES AND NET ASSETS                           CURRENT LIABILITIES             Accounts Payable  $    15,294        $    15,294   Deferred revenue 12,753        $    12,753   Accrued Payroll 1,284       1,284     Total current liabilities 29,331   0   29,331                 NET ASSETS             Unrestricted 165,891       165,891   Temporarily restricted     10,977   10,977     Total net assets 165,891   10,977   176,868                 TOTAL LIABILITIES AND NET ASSETS  $  195,222    $     10,977    $  206,199

Unrestricted   Temporarily Restricted   Total REVENUES AND OTHER SUPPORT   Donations  $   204,574        $   204,574   Community Development 17,916    $         240   18,156   Construction Project Donations 439,573       439,573   Scholarship Donations     28,911   28,911   Interest 963       963   Other 872       872   Realized gain(loss) on investments -330       -330     663,568   29,151   692,719               Net Assets released from restriction 24,681   -24,681     TOTAL REVENUE AND SUPPORT 688,249   4,470   692,719               EXPENSES             Programs 598,021       598,021   Management and General 31,874       31,874   Fundraising 64,405       64,405 TOTAL EXPENSES 694,300       694,300               CHANGE IN NET ASSETS -6,051   4,470   -1,581               NET ASSETS, BEGINNING 171,942   6,507   178,449               NET ASSETS, ENDING  $   165,891    $     10,977    $   176,868

A complete copy of Corazón's audited financial statements is available upon request.

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