Question

Statement of Activities:
At 12-31-2017, The Halifax Fishing Museum, an other nonprofit organization (ONPO), had unrestricted cash of $ 25,000, building and land with a net book value of $ 210,000, and permanently restricted collections totaling $ 120,000. There were no liabilities. The Museum has two programs: Operation of a Fishing Museum and Educational Programs. During the year ended 12-31-2018 the Museum incurred the following transactions:
(1)    Cash contributions to the Museum included (a) unrestricted $ 350,000, (b) restricted for educational programs $ 15,000 and (c) restricted by the donor for endowment purposes $ 50,000.
(2)    Additional unrestricted cash receipts included $ 12,500 in fees from individuals and organizations using the Museum building as a meeting facility. Included in this is $ 2,000 for a meeting to be held in January 2019.
(3)    Donors made pledges in the amount of $ 30,000 that were unrestricted as to purpose, but which are to be expended in 2019 due to a donor restriction. 10% are expected to be uncollectible.
(4)    Incurred cash expenses:
Item	Total Amount	Portion for Museum Operations	Portion for Education Programs	Admin.
Utilities – programs	40,000	35,000	5,000
Utilities – administration	10,000			10,000
Salaries - programs	150,000	135,000	15,000
Salaries – administration	50,000			50,000
Supplies – programs	80,000	74,000	6,000
Supplies – administration	2,000			2,000
	332,000	244,000	26,000	62,000
(5)    Purchased land for future expansion to the adjoining lot in the amount of $ 50,000.
(6)    Depreciation on the Museum building amounted to $ 45,000 and is allocated on the basis of square feet: $ 35,000 to Museum operations, $ 5,000 to Education Programs, and $ 5,000 to administration.
(7) Outstanding purchase orders for administrative supplies at 12-31-18 totaled $2,500
Required:
Prepare a Statement of Activities for the Museum for the year ended 12-31-2018.

Answer 1