U.S. - JAPAN COUNCIL
FINANCIAL STATEMENTS AND
SUPPLEMENTARY INFORMATIONDECEMBER 31, 2017

U.S. - JAPAN COUNCILTABLE OF CONTENTSDECEMBER 31, 2017
Pages
Independent Auditors’ Report................................................................................................

3-4

Statement of Financial Position .........................................................................................

5

Statement of Activities.......................................................................................................

6

Statement of Cash Flows ..................................................................................................

7

Notes to Financial Statements............................................................................................

8-15

Supplementary Information
Statement of Functional Expenses ......................................................................................

17

7910 WOODMONT AVENUESUITE 500
BETHESDA, MD 20814(T) 301.986.0600(F) 301.986.0432

1901 L STREET, NW
SUITE 750
WASHINGTON, DC 20036(T) 202.822.0717(F) 202.822.0739

Independent Auditors’ Report
To the Board of Directors
U.S. - Japan Council
Washington, D.C.
We have audited the accompanying financial statements of U.S. - Japan Council (USJC), which
comprise the statement of financial position as of December 31, 2017, and the related statements ofactivities and cash flows for the year then ended, and the related notes to the financial statements.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements inaccordance with accounting principles generally accepted in the United States of America; thisincludes the design, implementation, and maintenance of internal control relevant to the preparationand fair presentation of financial statements that are free from material misstatement, whether due tofraud or error.
Auditors’ Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We
conducted our audit in accordance with auditing standards generally accepted in the United Statesof America. Those standards require that we plan and perform the audit to obtain reasonableassurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts anddisclosures in the financial statements. The procedures selected depend on the auditors’ judgment,
including the assessment of the risks of material misstatement of the financial statements, whether
due to fraud or error. In making those risk assessments, the auditors consider internal control
relevant to the entity’s preparation and fair presentation of the financial statements in order to design
audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such
opinion. An audit also includes evaluating the appropriateness of accounting policies used and thereasonableness of significant accounting estimates made by management, as well as evaluating theoverall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinion.
OpinionIn our opinion, the financial statements referred to above present fairly, in all material respects, thefinancial position of U.S. - Japan Council as of December 31, 2017, and the changes in its net assets
and its cash flows for the year then ended in accordance with accounting principles generally
accepted in the United States of America.

COUNCILOR, BUCHANAN & MITCHELL, P.C. – CPAs AND BUSINESS ADVISORS
www.cbmcpa.com

To the Board of Directors
U.S. - Japan Council

Other Matter
Our audit was conducted for the purpose of forming an opinion on the financial statements as awhole. The statement of functional expenses for the year ended December 31, 2017, was presented
for purposes of additional analysis and is not a required part of the financial statements. Suchinformation is the responsibility of management and was derived from and relates directly to theunderlying accounting and other records used to prepare the financial statements. The information
has been subjected to the auditing procedures applied in the audit of the financial statements andcertain additional procedures, including comparing and reconciling such information directly to theunderlying accounting and other records used to prepare the financial statements or to the financial
statements themselves, and other additional procedures in accordance with auditing standards
generally accepted in the United States of America. In our opinion, the information is fairly stated in
all material respects in relation to the financial statements as a whole.

Bethesda, Maryland
February 26, 2018

Certified Public Accountants-4-U.S. - JAPAN COUNCIL
STATEMENT OF FINANCIAL POSITIONDECEMBER 31, 2017

AssetsCurrent Assets
Cash and Cash Equivalents
Certificates of Deposit
Investments
Grants and Contributions Receivable
Due from USJC - Japan
Prepaid Expenses

Unrestricted

Temporarily
Restricted

Permanently
Restricted

$

$

$

1,457,174
20,609350,000
196,479
728,355
24,327662,024
2,494,612
824,005-

10,000,000
-

Total

$

2,119,198
20,60912,844,612
1,020,484
728,355
24,327

Total Current Assets

2,776,944

3,980,641

10,000,000

16,757,585

Property and Equipment, Net

34,365--34,365$ 10,000,000$ 16,791,950$$

Total Assets$

2,811,309$

3,980,641$

214,719
210,421
93,81963,251$-

Liabilities and Net Assets
Current Liabilities
Accounts Payable
Accrued Expenses
Accrued Vacation
Deferred Revenue
Total Current Liabilities
Net Assets
Total Liabilities and Net Assets$-

214,719
210,421
93,81963,251

582,210--582,2102,229,099

3,980,641

10,000,000

16,209,740

3,980,641$ 10,000,000$ 16,791,950

2,811,309

See accompanying Notes to Financial Statements.
-5-$

U.S. - JAPAN COUNCIL
STATEMENT OF ACTIVITIESFOR THE YEAR ENDED DECEMBER 31, 2017

Revenue
Grants and Contributions
TOMODACHI Contributions
Donated Services
Program Revenue
Gain on Investments
Foreign Exchange Income
Miscellaneous Income
Net Assets Released from Restrictions

Unrestricted

Temporarily
Restricted

Permanently
Restricted

$

$

$

Total Revenue

355,329
218,250
2,952,800
58
22,187
38,8372,258,032

1,450,960
1,563,847(2,258,032)

-

Total

$

355,329
1,450,960
218,250
2,952,800
1,563,905
22,187
38,837-

5,845,493

756,775-

6,602,268

2,992,467
2,186,569--

2,992,467
2,186,569

309,002
127,701--

309,002
127,701

Total Expenses

5,615,739--

5,615,739

Change in Net Assets

229,754756,775-

986,529

1,999,345

3,039,411

10,184,455

15,223,211-

184,455(184,455)-

1,999,345

3,223,866

10,000,000

15,223,211

3,980,641$ 10,000,000$ 16,209,740

Expenses
Program Services
General Education
TOMODACHI
Supporting Services
General and Administration
Fundraising

Net Assets, Beginning of Year, As
Originally Reported
Prior Period Adjustment
Net Assets, Beginning of Year, As
Restated
Net Assets, End of Year$2,229,099

See accompanying Notes to Financial Statements.
-6-$

U.S. - JAPAN COUNCIL
STATEMENT OF CASH FLOWSFOR THE YEAR ENDED DECEMBER 31, 2017

Cash Flows from Operating Activities
Change in Net Assets
Adjustments to Reconcile Change in Net Assets to Net Cash
Used in Operating Activities
Depreciation and Amortization
Gain on Investments(Increase) Decrease in Assets
Grants and Contributions Receivable
Due from USJC - Japan
Prepaid Expenses
Increase (Decrease) in Liabilities
Accounts Payable
Accrued Expenses
Accrued Vacation
Deferred Revenue
Net Cash Used in Operating Activities$

986,529

24,751(1,119,893)(138,156)(235,907)(2,582)
184,576
98,492
63,963(370,803)(509,030)

Cash Flows from Investing Activities
Purchases of Fixed Assets
Net Purchases of Investments

13,256(1,421,271)

Net Cash Used in Investing Activities(1,408,015)

Net Decrease in Cash and Cash Equivalents(1,917,045)

Cash and Cash Equivalents, Beginning of Year4,036,243

Cash and Cash Equivalents, End of Year$ 2,119,198

See accompanying Notes to Financial Statements.
-7-

U.S. - JAPAN COUNCILNOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2017
1.

ORGANIZATION
U.S. - Japan Council (USJC) is a not-for-profit corporation incorporated in the State ofCalifornia in December 2008 that contributes to strengthening U.S. - Japan relations bybringing together diverse leadership, engaging stakeholders, and exploring issues that benefit
communities, businesses, and government entities on both sides of the Pacific. USJC promotes
people-to-people relations as crucial to a strong U.S. - Japan relationship. USJC has offices in
Washington, DC, and Los Angeles, California.
In 2012, the U.S. - Japan Council (Japan) (USJC-J) was created to support the administrationof the TOMODACHI Initiative (see Note 8), and is a Public Interest Corporation (Koeki
Zaidan Hojin). USJC-J maintains an office in Tokyo, Japan.
USJC is supported primarily by contributions and contract revenue related to its programs.

2.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIESThe following is a summary of accounting policies followed in the preparation of USJC’s
financial statements.
Basis of Accounting
The financial statements are prepared on the accrual basis of accounting. Under the accrual
method, revenues are recognized when earned and expenses are recognized when incurred.
Financial Statement Display
USJC has presented its financial statements in accordance with U.S. Generally Accepted
Accounting Principles. Under those principles, USJC is required to report information regarding
its financial position and activities according to three classes of net assets:

Unrestricted Net Assets - resources that are available for general operations and resources
designated by USJC’s board of directors for approved expenditures.



Temporarily Restricted Net Assets - resources that are subject to donor-imposed stipulations
that either expire by passage of time or can be fulfilled and removed by actions of USJC,
pursuant to those stipulations.



Permanently Restricted Net Assets - represents resources whose use by USJC is limited bydonor-imposed stipulations that neither expire by passage of time nor can be fulfilled orotherwise removed by action of USJC. Income from the assets held is available for either
general operations or specific purposes, in accordance with donor stipulations.

Use of Estimates
The preparation of financial statements in conformity with accounting principles generally
accepted in the United States of America requires management to make estimates andassumptions that affect the reported amounts of assets and liabilities and disclosure of contingent
assets and liabilities at the date of the financial statements and the reported amounts of revenues
and expenses during the reporting period. Actual results could differ from those estimates.
-8-

U.S. - JAPAN COUNCILNOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 20172.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Income Taxes
USJC is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code (theCode) and has been determined by the Internal Revenue Service not to be a private foundation
within the meaning of Section 509(a) of the Code.
USJC requires that a tax position be recognized or derecognized based on a “more-likely-thannot” threshold. This applies to positions taken or expected to be taken in a tax return. USJC does
not believe its financial statements include, or reflect, any uncertain tax positions.
USJC’s IRS Form 990, Return of Organization Exempt from Income Tax, is subject to examinationby the taxing authorities, generally for three years after it was filed.
Cash and Cash Equivalents
Cash and cash equivalents include cash on hand and other highly liquid instruments withinitial maturities of less than three months when purchased.
Grants and Contributions Receivable
Grants and contributions receivable consist primarily of amounts due from organization andindividual pledges that were not received by USJC at year end. Management reviews thecollectability of the accounts on a regular basis. No reserve for doubtful accounts is deemednecessary as all amounts are deemed to be fully collectible.
Investments
Investments consist of mutual funds, exchange traded funds, and private investment funds
which are stated at fair market value.
Property and Equipment
Property and equipment are stated at cost, net of accumulated depreciation. Depreciation iscomputed using the straight-line method over the estimated useful lives of three years for furniture,
fixtures, and office equipment. USJC capitalizes all furniture and equipment purchases over
$1,000.
Repairs and maintenance which do not significantly add to the value of assets are expensed as
incurred.
Donated Services
Donated services are recognized as contributions, at fair value, if the services (a) create
nonfinancial assets or (b) require specialized skills, are performed by people with those skills,
and would otherwise be purchased by USJC.

-9-

U.S. - JAPAN COUNCILNOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 20172.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
Grants and Contributions
Grants and contributions are recognized when a donor makes an unconditional promise to
give. USJC reports gifts of cash and other assets as restricted support if they are received withdonor stipulations that limit the use of the donated assets. When a donor restriction expires,that is, when a stipulated time restriction ends or the purpose restriction is accomplished,temporarily restricted net assets are reclassified to unrestricted net assets and reported in thestatement of activities as net assets released from restrictions.
Functional Allocation of Expenses
The costs of providing the various programs and other activities have been summarized on afunctional basis in the statement of activities and the statement of functional expenses.
Accordingly, certain costs have been allocated among the programs and supporting services
benefited.

3.

CONCENTRATIONSUSJC maintains cash balances at financial institutions in the Washington, DC, metropolitanarea, California, and Tokyo, Japan. The accounts at the U.S. institutions are insured by theFederal Deposit Insurance Corporation (FDIC). At times during the year, USJC’s cash
balances exceeded the FDIC insurance amounts. Management believes the risk in thesesituations to be minimal.

4.

INVESTMENTS AND FAIR VALUE MEASUREMENTS
USJC has categorized its financial instruments based on fair value hierarchy as follows:
Level 1 - values are based on quoted prices for identical assets in an active market.
Level 2 - values are based on quoted prices for similar assets in active or inactive markets.
Level 3 - values are based on unobservable inputs to measure fair value to the extent thatobservable inputs are not available, thereby allowing for situations in which there is little, if any,market activity for the asset or liability at the measurement date. The fair value measurement
objective is to determine an exit price from the perspective of a market participant that holds theasset or owes the liability. Therefore, unobservable inputs reflected USJC’s judgment about theassumptions that market participants would use in pricing the asset or liability (including
assumptions about risk). Unobservable inputs are developed based on the best information
available in the circumstances, which might include USJC’s own data.
During 2017, USJC invested in certain investments of undivided interest in a fund of funds
which invests in diversified interests. This partnership invests in private investment funds whichhave a variety of investment objectives. Each of these investments have certain restrictions withrespect to rights of withdrawal by the partnership. At December 31, 2017, the balance in thisfund was $4,724,462.
- 10 -

U.S. - JAPAN COUNCILNOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2017
4.

INVESTMENTS AND FAIR VALUE MEASUREMENTS (CONTINUED)
Fair values of assets at December 31, 2017, are as follows:
Fair Value
Money Market Fund
Equity Funds
Exchange Traded Funds
Fixed Income Funds
Private Investments Funds
Total

$

230,674
2,317,792
469,737
4,751,947
5,074,462$ 12,844,612

Level 1$

Level 2

Level 3

230,674
2,317,792
469,737
4,751,947
-

$

-

$

5,074,462$ 7,770,150$-$ 5,074,462

The preceding methods described may produce a fair value estimate that may not be indicativeof net realizable value or reflective of future fair values. Furthermore, although USJC believes
its valuation methods are appropriate and consistent with other market participants, the use ofdifferent methodologies or assumptions to determine the fair value of certain financial
instruments could result in a different fair value measurement at the reporting date.
Assets measured at fair value on a recurring basis using significant unobservable inputs (Level3) are as follows:
PrivateInvestment
Funds
Balance, January 1, 2017
Purchases of Investments
Total Net Unrealized Gain Included in Changes in Net Assets, in
Net Investment Income, Attributable to Assets Held at Year End
Balance, December 31, 2017$

350,000
4,555,000
169,462$ 5,074,462

USJC recognizes transfers into and out of levels within the fair value hierarchy at the end of
the reporting period. There were no transfers between levels during the year ended
December 31, 2017.
Investment income (loss) for the year ended December 31, 2017, is as follows:
AmountInterest and Dividends
Unrealized Gain$

Total Investment Gain

5.

444,012
1,119,893$ 1,563,905

CONTRIBUTIONS RECEIVABLE
Unconditional promises to give are recorded as receivables and revenue when received. USJC
distinguishes between contributions received for each net asset category in accordance withdonor-imposed restrictions. Pledges are recorded after being discounted to the anticipated netpresent value of the future cash flows.

- 11 -

U.S. - JAPAN COUNCILNOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 20175.

CONTRIBUTIONS RECEIVABLE (CONTINUED)
Pledges are expected to be realized in the following periods:
In One Year or Less
Between One Year and Five Years$

824,005-

Less Allowance for Uncollectible Pledges$

6.

359,911464,094

824,005

PROPERTY AND EQUIPMENT
Property and equipment consisted of the following as of December 31, 2017:
Description

AmountFurniture and Fixtures
Office Equipment$

93,021(58,656)

Less Accumulated Depreciation
Net

7.

31,47861,543$34,365

TEMPORARILY RESTRICTED NET ASSETS
Temporarily restricted net assets were available for the following purposes at December 31, 2017:
Description

AmountTOMODACHI
Watanabe Endowment - Scholarships$ 2,491,316
1,489,325

Total$ 3,980,641

Net assets were released from restrictions during 2017 as follows:
Description

AmountTOMODACHI
Watanabe Endowment - Scholarships$ 2,004,433
253,599

Total

8.

$ 2,258,032

TOMODACHIUSJC and the U.S. Embassy in Tokyo formed a public-private partnership (TOMODACHI),
to support the long-term recovery of Japan following the March 11, 2011 Great East Japan
Earthquake. TOMODACHI supports programs in educational exchange and leadershipdevelopment that invest in the next generation of young Japanese and Americans in ways thatdeepen the friendship between the United States and Japan.
TOMODACHI raises funds from contributors in the U.S. and Japan. Donors have the optionof contributing to the U.S. - Japan Council (US) or to a separate and independent publicbenefit corporation, U.S. - Japan Council (Japan). Management and program services areprovided to U.S. - Japan Council (US) through a Management Agreement to support
TOMODACHI activities in Japan.
- 12 -

U.S. - JAPAN COUNCILNOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 20179.

ANNUAL CONFERENCE
In 2017, U.S. - Japan Council (US) and U.S. Japan Council (Japan) held a joint Annual
Conference in Washington, DC. Total conference revenue, expenses, and net proceeds wereshared between the two entities based on the ratio of revenue received and expenses paid
which were 70% (US) and 30% (Japan). These distributions were approved by both Boards of
Directors.

10.

DONOR DESIGNATED ENDOWMENTS
USJC’s endowment consists of the donor-restricted Toshizo Watanabe Endowed Scholarship
Fund (the Fund). The Fund was created to provide study abroad scholarships to American andJapanese students who demonstrate leadership potential and financial need. The scholarships
assist in supporting the cost of tuition and/or living expenses for a student’s academic study inJapan and the United States. The scholarship program seeks to promote cross-cultural
education between the two countries.
As required by generally accepted accounting principles, net assets associated with endowment
funds, including funds designated by the Board of Directors to function as endowments, areclassified and reported based on the existence or absence of donor-imposed restrictions.
The Board of Directors of USJC has interpreted the Uniform Prudent Management ofInstitutional Funds Act (UPMIFA) as adopted by the District of Columbia as requiring thepreservation of the fair value of the original gift as of the gift date of the donor-restricted
endowment funds absent explicit donor stipulations to the contrary. As a result of thisinterpretation, USJC classifies as permanently restricted net assets (a) the original value of gifts
donated to the permanent endowment, (b) the original value of subsequent gifts to thepermanent endowment, and (c) accumulations to the permanent endowment made inaccordance with the direction of the applicable donor gift instrument at the time theaccumulation is added to the Fund. The remaining portion of the donor-restricted endowment
fund that is not classified in permanently restricted net assets are classified as temporarily
restricted net assets until those amounts are appropriated for expenditure by USJC in a mannerconsistent with the standard of prudence prescribed by UPMIFA. In accordance with UPMIFA,USJC considers the following factors in making a determination to appropriate or accumulate
donor-restricted endowment funds: (1) the duration and preservation of the various funds, (2) the
purposes of the donor-restricted endowment funds, (3) general economic conditions, (4) the
possible effect of inflation and deflation, (5) the expected total return from income and theappreciation of investments, (6) other resources of USJC, and (7) USJC’s investment policies.
Investment Return Objectives, Risk Parameters and Strategies: USJC has adopted investment andspending policies for endowment assets that attempt to provide a predictable stream of funding
to programs supported by its endowment assets. Endowment assets shall exist into perpetuity
and therefore be invested with the objective of preserving its long-term real purchasing power
while providing for the annual spending distribution. The primary investment objective of theFund, measured over five to seven rolling periods, is to earn an annualized return of at least
4.0 percent, net of fees. The secondary investment objective of the Fund is to be competitive
over the long term (defined as five- to seven-year rolling periods) relative to its market
benchmark. The Fund will also be reviewed relative to a peer universe of endowment funds- 13 -

U.S. - JAPAN COUNCILNOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 201710.

DONOR DESIGNATED ENDOWMENTS (CONTINUED)
with recognition that the Fund is likely to have a different total return and risk profile thanmany of the endowments in universe comparisons.
Spending Policy: The Fund’s annual minimum distribution requirement is $200,000, less certain
administrative fees. The Board has discretion to establish a prudent spending policy in excessof the minimum requirement. In any given year, the spending policy may range from not lessthan $200,000 to approximately 4.0 percent of the market value of the Fund.
Composition and changes in endowment net assets for the year ended December 31, 2017,
were as follows:
Temporarily
Restricted

Unrestricted
Donor-Restricted Endowment Fund

$

-

$

$

-

$

-

Endowment Net Assets, End of Year

11.

1,489,325$$

Temporarily
Restricted

Unrestricted
Endowment Net Assets,
Beginning of Year
Investment Return
Contributions
Appropriation of Endowment Assets
for Expenditure

Permanently
Restricted-

10,000,000$

Permanently
Restricted

184,455
1,558,469-$

1,489,325$$

11,489,325

Total

10,000,000-(253,599)$

Total

10,000,000

10,184,455
1,558,469(253,599)$

11,489,325

DONATED SERVICES
The value of donated services and facilities and the corresponding functional expense
categories for the year ended December 31, 2017, are as follows:
General
Education

Description

TravelTelecommunications
Meetings
Facilities and Equipment
Total

12.

TOMODACHI

Generaland
Administration

Fundraising

Total

$

129,000
30,11542,441
16,694

$

-

$

-

$

-

$

129,000
30,11542,441
16,694$

218,250

$

-

$

-

$

-

$

218,250RETIREMENT PLAN
USJC has a 401(k) retirement plan (the Plan). Employees may elect to defer a portion ofcompensation by enrolling in the Plan. All employees over the age of 21 and completing threemonths of service are eligible to receive an employer matching contribution equal to 100% of
their deferrals up to 6% of their compensation. Employees’ and USJC’s contributions to thePlan are 100% vested upon participation. USJC’s contribution to the Plan during the year
ended December 31, 2017, was $77,480.
- 14 -

U.S. - JAPAN COUNCILNOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 2017
13.

LEASES
Office Lease
USJC has a non-cancellable office lease that expires on January 31, 2019. The lease contains
an annual increase of rent amounts and additional payments for operating charges.
Office Equipment Lease
USJC has entered into a lease of certain office equipment and is obligated under the leasethrough April 2020.
The minimum future lease payments under the above leases are as follows:
For the Years Ending December 31
2018
2019
2020
Total Future Minimum Lease Payments

14.

$

130,930
13,099788$

144,817PRIOR PERIOD ADJUSTMENT
As a result of a review of the treatment of the permanently restricted endowment fund, it wasdetermined that the earnings on the investment for the Fund are temporarily restricted andwere improperly treated as permanently restricted earnings in the prior year. Accordingly,
USJC restated its financial statements for the year ended December 31, 2016. The effect of thecorrection was to decrease beginning permanently restricted net assets by $184,455 andincrease beginning temporarily restricted net assets by $184,455. The prior year changes in net
assets of $184,455 were also transferred from permanently restricted to temporarily restricted.
There is no effect on the 2016 total change in net assets.

15.

SUBSEQUENT EVENTS
Subsequent events were evaluated through February 26, 2018, which is the date the financial
statements were available to be issued.

- 15 -

SUPPLEMENTARY INFORMATIONU.S. - JAPAN COUNCIL
STATEMENT OF FUNCTIONAL EXPENSES
FOR THE YEAR ENDED DECEMBER 31, 2017
General
Education

Salaries and Benefits
Program Implementation Services
Office Expenses
TravelMeetings
Business and License Fees
Professional Services
Depreciation and Amortization
Rent
Facilities and Equipment
Computer Hosting and MaintenanceSupplies
Telecommunications
Printing
Insurance
Fees
Education and Training$

895,487
1,674,662
11,231
163,811
55,121
1,080
30,233
11,73945,66920,056
8,782
9,796
38,562
9,445
8,391
7,391
1,011

$ 2,992,467

TOMODACHI$

Total
Programs

General and
Administration

Fundraising

Total

280,919
1,820,333
644
6,934
639
1,779
7,981
32,6201,288
11,105
1,960
5,202
5,001
4,263
5,360
544

$ 1,176,406
3,494,995
11,875
170,745
55,121
1,719
32,011
19,72078,28921,344
19,886
11,756
43,764
14,446
12,65312,751
1,555$

199,401
3,209
9,946
3,623
309
8,638
3,354
13,048
961
2,518
2,763
2,362
2,699
173
55,711289$

99,700
1,604
4,973
1,811
154
4,319
1,677
6,524
480
1,259
1,382
1,181
1,349
87
1,056
144

$ 1,475,507
3,494,995
16,688
185,664
60,5552,182
44,96824,751
97,861
22,78523,663
15,90147,307
18,494
12,91369,5181,988$ 2,186,569$ 5,179,036$

309,002$

127,701$ 5,615,739- 17 -