Treasurer's Report and Financial Statements (for internal use only) June 30, 2016
Table of Contents: Treasurer's Report 1 Page: Financial Statements: Statements of Financial Position 2 Statements of Activities 3 Supplementary Schedules: Monthly Profit and Loss detail 4-6 Actual v Operating Budget 7 Actual v Capital Budget 8 Produce Sales 9
TREASURER'S REPORT JUNE 2016 CASH As of June 30, 2016 TTF had $25,637 in cash, of which $6,336 was donor-restricted for raising matching funds (Albers/Kuhn grant). RECEIVABLES Accounts receivable were as follows: June 30, 2016 Type Current 30+ days Total Board members Open pledges $ - $ 1,250 $ 1,250 ETHS Monthly billing 1,128-1,128 Orchard Village Monthly billing 1,200-1,200 YOU Monthly billing 91-91 Customers Produce sales 1,986-1,986 Allstate Contribution - 1,221 1,221 Donor Silent auction - 1,600 1,600 USDA Grant - 9,800 9,800 Total $ 4,405 $ 13,871 $ 18,276 PAYABLES Accounts payable were as follows: June 30, 2016 Type Current Non-current Total Matt Ryan Debit - exp $ (75) $ - $ (75) Non-profit Risk Services Insurance 259-259 Emily Oaks Seedling sales 646-646 Total $ 830 $ - $ 830 ACTUAL V. BUDGET: We are currently at 47% of our annual revenue goal for the year. Expected revenue cycle: a) Produce! May through September b) Contributions! December We are currently at 45% of our annual expense goal for the year, which is right on target. Capital expenditures to date all have been under budget. PRODUCE SALES: See last page of the report for more details. Produce sales through 6/30 were as follows: NICK WYATT TREASURER AUGUST 6, 2016 Year Sales, $ Sales, Lbs 2016 5,453 1,769 2015 2,796 809 2014 741 238 1
Statements of Financial Position June 30, 2016 and 2015 ASSETS 2016 2015 Cash and Cash Equivalents Cash and equivalents, unrestricted $ 19,301 $ 31,349 Cash and equivalents, donor-restricted 6,336 6,743 Total cash and cash equivalents 25,637 38,092 Current Assets Accounts receivable, net of allowance of $0 in 2016 and 2015 18,276 3,253 Prepaid insurance 1,642 2,511 Prepaid other 378 40 Total current assets 20,296 5,803 Howard Street Farm - Capital Assets Land and improvements 9,985 6,500 Demo garden 16,876 16,876 Fencing and roads 4,137 4,137 Irrigation system 9,357 1,224 Non-permanent structures 12,033 12,033 Processing shed 15,075 - Vehicles 3,000 3,000 Property not yet in service - 8,257 Less: Accumulated depreciation (31,754) (24,107) Total Howard Street Farm capital assets 38,710 27,920 Total assets $ 84,642 $ 71,816 LIABILITIES AND NET ASSETS Current Liabilities Accounts payable $ 830 $ 3,818 Accrued expenses 850 - Accrued payroll and related liabilities 1,505 1,017 Conditional contributions received 6,336 - Note payable - Hoop House, due in 12 months 784 1,883 Total current liabilities 10,304 6,717 Long-Term Liabilities Note payable - Hoop House - 784 Total long-term liabilities - 784 Net Assets Unrestricted net assets 64,538 49,315 Temporarily restricted net assets 9,800 15,000 Total net assets 74,338 64,315 Total liabilities and net assets $ 84,642 $ 71,816 2
Statements of Activities Six Months Ended June 30, 2016 and 2015 2016 2015 Temporarily Restricted Total Unrestricted Temporarily Restricted Total Unrestricted REVENUES AND SUPPORT Program service fees $ 8,671 $ 8,671 $ - $ 6,523 $ 6,523 $ - Contributions 18,801 18,801-17,337 7,337 10,000 Government grants 9,800-9,800 - - - Fundraising events 5,405 5,405-3,400 3,400 - Miscellaneous 75 75 - - - - Interest income 14 14-20 20 - Net Assets released from restrictions - 5,000 (5,000) - - - Total revenues and support 42,766 37,966 4,800 27,280 17,280 10,000 EXPENSES Program service expenses 10,012 10,012-5,472 5,472 - * Howard Street Farm operating expenses 13,243 13,243-7,957 7,957 - * General and administrative expenses 7,868 7,868-18,830 18,830 - * Fundraising activities expenses 1,505 1,505-1,342 1,342 - * Total expenses 32,628 32,628-33,601 33,601 - Income (loss) to date 10,138 5,338 4,800 (6,322) (16,322) 10,000 SALES ACTIVITIES Produce sales 5,453 5,453-2,746 2,746 - Cost of sales (13,695) (13,695) - (1,904) (1,904) * Net income (loss) from produce sales (8,242) (8,242) - 842 842 - Seedling sales 3,918 3,918-3,853 3,853 - Cost of sales (2,268) (2,268) - (1,666) (1,666) - * Net income from seedliong sales 1,650 1,650-2,187 2,187 - Net income (loss) to date 3,545 (1,255) 4,800 (3,292) (13,292) 10,000 Net assets at beginning of year, restated 70,793 65,793 5,000 67,607 62,607 5,000 Net assets at end of period $ 74,338 $ 64,538 $ 9,800 $ 64,315 $ 49,315 $ 15,000 * 2015 Payroll costs were not allocated to various costs centers on monthly basis. 3
Income 4000 Program Revenues 4100 Howard Street Farm Jan 2016 Feb 2016 Mar 2016 Apr 2016 May 2016 Jun 2016 Total 4101 Farm Hands 0.00 0.00 0.00 200.00 0.00 400.00 600.00 4104 Education - Other 0.00 0.00 0.00 0.00 50.00 0.00 50.00 Total 4100 Howard Street Farm $ 0.00 $ 0.00 $ 0.00 $ 200.00 $ 50.00 $ 400.00 $ 650.00 4200 E.T.H.S. 360.00 840.00 840.00 1,080.00 840.00 1,128.00 5,088.00 4300 Y.O.U. 0.00 0.00 133.22 0.00 0.00 0.00 133.22 4400 Orchard Village 0.00 0.00 0.00 500.00 900.00 1,200.00 2,600.00 4800 Education and Seminars - External 0.00 0.00 0.00 0.00 200.00 0.00 200.00 Total 4000 Program Revenues $ 360.00 $ 840.00 $ 973.22 $ 1,780.00 $ 1,990.00 $ 2,728.00 $ 8,671.22 5000 Contributions - Cash 5001 Individuals - General 0.00 250.00 125.48 220.00 0.00 336.00 931.48 5002 Individuals - Appeals 175.00 0.00 0.00 0.00 0.00 0.00 175.00 5009 Individuals - Board Members 3,000.00 500.00 0.00 500.00 0.00 500.00 4,500.00 5020 Foundations and Other NFPs 0.00 0.00 5,449.00 1,500.00 1,000.00 3,215.00 11,164.00 5030 Corporate Contributions 0.00 649.80 0.00 1,220.97 159.26 0.00 2,030.03 Total 5000 Contributions - Cash $ 3,175.00 $ 1,399.80 $ 5,574.48 $ 3,440.97 $ 1,159.26 $ 4,051.00 $ 18,800.51 5100 Contributions - Materials and Equipment 5104 Government Grants 0.00 0.00 0.00 0.00 9,800.00 0.00 9,800.00 Total 5100 Contributions - Materials and Equipment $ 0.00 $ 0.00 $ 0.00 $ 0.00 $ 9,800.00 $ 0.00 $ 9,800.00 5500 Fundraising Activities 5510 Fundraising Events 5511 Ticket Sales 0.00 0.00 0.00 3,675.17 0.00 0.00 3,675.17 5512 Silent Auction and Product Sales 0.00 0.00 0.00 1,600.00 0.00 0.00 1,600.00 5513 Raffle Sales 0.00 0.00 0.00 130.00 0.00 0.00 130.00 Total 5510 Fundraising Events $ 0.00 $ 0.00 $ 0.00 $ 5,405.17 $ 0.00 $ 0.00 $ 5,405.17 Total 5500 Fundraising Activities $ 0.00 $ 0.00 $ 0.00 $ 5,405.17 $ 0.00 $ 0.00 $ 5,405.17 5600 Product Sales The Talking Farm Profit and Loss January - June, 2016 5610 Produce Sales 0.00 0.00 0.00 40.00 2,265.00 3,147.94 5,452.94 5620 Seedling Sales 0.00 0.00 0.00 63.00 3,810.00 45.00 3,918.00 5690 All Other Sales 0.00 0.00 0.00 0.00 75.00 0.00 75.00 Total 5600 Product Sales $ 0.00 $ 0.00 $ 0.00 $ 103.00 $ 6,150.00 $ 3,192.94 $ 9,445.94 5910 Interest Income 2.38 3.50 2.60 2.11 1.76 1.61 13.96 4
Total Income $ 3,537.38 $ 2,243.30 $ 6,550.30 $ 10,731.25 $ 19,101.02 $ 9,973.55 $ 52,136.80 Cost of Goods Sold 6100 Product Sales Expenses 6110 Produce Costs 6111 Allocated Payroll Costs - Produce 289.00 737.00 503.00 1,174.00 1,827.00 1,822.00 6,352.00 6114 Materials and Supplies - Produce 0.00 1,188.09 3,376.51 475.00 0.00 411.31 5,450.91 6115 Purchases - Seeds 0.00 24.95 1,353.57 0.00 0.00 0.00 1,378.52 6119 Produce Sale Costs - Other 13.84 0.00 0.00 0.00 0.00 0.00 13.84 6190 Water 0.00 0.00 0.00 500.00 0.00 0.00 500.00 Total 6110 Produce Costs $ 302.84 $ 1,950.04 $ 5,233.08 $ 2,149.00 $ 1,827.00 $ 2,233.31 $ 13,695.27 6120 Seedling Costs 6121 Allocated Payroll Costs - Seedlings 289.00 491.00 503.00 223.00 0.00 0.00 1,506.00 6129 Seedling Sale Costs - Other 0.00 102.49 179.56 88.00 392.12 0.00 762.17 Total 6120 Seedling Costs $ 289.00 $ 593.49 $ 682.56 $ 311.00 $ 392.12 $ 0.00 $ 2,268.17 Total 6100 Product Sales Expenses $ 591.84 $ 2,543.53 $ 5,915.64 $ 2,460.00 $ 2,219.12 $ 2,233.31 $ 15,963.44 Total Cost of Goods Sold $ 591.84 $ 2,543.53 $ 5,915.64 $ 2,460.00 $ 2,219.12 $ 2,233.31 $ 15,963.44 Gross Profit $ 2,945.54 -$ 300.23 $ 634.66 $ 8,271.25 $ 16,881.90 $ 7,740.24 $ 36,173.36 Expenses 7000 Program Expenses 7100 HSF Expenses 7110 Education 7111 Allocated Payroll Cost 1,157.00 737.00 503.00 447.00 609.00 577.00 4,030.00 Total 7110 Education $ 1,157.00 $ 737.00 $ 503.00 $ 447.00 $ 609.00 $ 577.00 $ 4,030.00 Total 7100 HSF Expenses $ 1,157.00 $ 737.00 $ 503.00 $ 447.00 $ 609.00 $ 577.00 $ 4,030.00 7200 E.T.H.S. Expenses 7211 Allocated Payroll Costs 327.00 762.00 704.00 905.00 704.00 946.00 4,348.00 Total 7200 E.T.H.S. Expenses $ 327.00 $ 762.00 $ 704.00 $ 905.00 $ 704.00 $ 946.00 $ 4,348.00 7400 O.V. Expenses 7411 Allocated Payroll Costs 0.00 0.00 0.00 464.00 464.00 706.00 1,634.00 Total 7400 O.V. Expenses $ 0.00 $ 0.00 $ 0.00 $ 464.00 $ 464.00 $ 706.00 $ 1,634.00 Total 7000 Program Expenses $ 1,484.00 $ 1,499.00 $ 1,207.00 $ 1,816.00 $ 1,777.00 $ 2,229.00 $ 10,012.00 7900 Howard Street Farm Operating Expenses 7911 Allocated Payroll Costs 0.00 0.00 1,054.00 1,174.00 1,341.00 702.00 4,271.00 7914 Materials and Supplies 0.00 0.00 49.14 370.05 128.79 0.00 547.98 7915 Auto 0.00 0.00 303.60 0.00 98.32 139.91 541.83 7917 Continuing Education - Staff 605.00 220.00 95.38 0.00 0.00 0.00 920.38 7925 Depreciation 588.37 588.37 588.37 588.37 675.65 675.65 3,704.78 7935 Miscellaneous 0.00 0.00 0.00 253.65 0.00 210.72 464.37 7950 Repairs and Maintenance 0.00 61.70 0.00 0.00 16.47 0.00 78.17 7960 Soil Expenses 0.00 362.30 0.00 575.00 315.00 636.00 1,888.30 5
7965 Utilities 0.00 0.00 0.00 156.07 0.00 190.00 346.07 7990 Howard Street Woodland 0.00 0.00 0.00 360.00 120.36 0.00 480.36 Total 7900 Howard Street Farm Operating Expenses $ 1,193.37 $ 1,232.37 $ 2,090.49 $ 3,477.14 $ 2,695.59 $ 2,554.28 $ 13,243.24 8000 General and Administrative Expenses 8005 Advertising and Marketing Expenses 0.00 0.00 125.48 0.00 0.00 0.00 125.48 8011 Bank, CC and Paypal Fees 0.00 6.10 0.00 5.14 0.00 3.59 14.83 8015 Business Licenses and Filing Fees 0.00 0.00 0.00 0.00 5.00 0.00 5.00 8040 Insurance 392.47 392.47 416.47 392.47 1,043.47 102.47 2,739.82 8065 Office Supplies and Expenses 0.00 0.00 132.16 0.00 0.00 37.94 170.10 8070 Payroll Expenses 8071 Salaries and Wages 3,218.76 3,218.76 3,518.76 4,418.76 5,066.76 4,850.76 24,292.56 8072 Employer FICA Expenses 246.23 246.24 269.19 338.03 387.62 371.07 1,858.38 8074 Employer SUTA Expenses 17.70 17.71 19.35 24.30 10.63 8.98 98.67 8075 Payroll Processing Fees 34.74 34.74 34.74 36.34 36.34 36.34 213.24 8079 Allocated Payroll Costs - Out of G&A -2,062.00-2,727.00-3,267.00-4,387.00-4,945.00-4,753.00-22,141.00 Total 8070 Payroll Expenses $ 1,455.43 $ 790.45 $ 575.04 $ 430.43 $ 556.35 $ 514.15 $ 4,321.85 8080 Postage Expenses 0.00 9.80 0.00 9.40 9.40 0.00 28.60 8090 Technology 8093 Supplies and Software 64.47 64.47 64.47 64.47 64.47 64.47 386.82 8095 Website 5.33 5.33 16.32 16.32 16.32 16.32 75.94 Total 8090 Technology $ 69.80 $ 69.80 $ 80.79 $ 80.79 $ 80.79 $ 80.79 $ 462.76 Total 8000 General and Administrative Expenses $ 1,917.70 $ 1,268.62 $ 1,329.94 $ 918.23 $ 1,695.01 $ 738.94 $ 7,868.44 8500 Fundraising Expenses 8510 Fundraising Events Expenses 8513 Rent and Facility Costs 0.00 0.00 0.00 100.00 0.00 0.00 100.00 8514 Food and Beverage 0.00 0.00 0.00 1,318.90 0.00 0.00 1,318.90 8516 Other Expenses 0.00 63.00 0.00 0.00 0.00 0.00 63.00 Total 8510 Fundraising Events Expenses $ 0.00 $ 63.00 $ 0.00 $ 1,418.90 $ 0.00 $ 0.00 $ 1,481.90 8520 Grants and Annual Appeal - Direct 8524 Materials and Supplies - Fundraising 0.00 0.00 0.00 22.62 0.00 0.00 22.62 Total 8520 Grants and Annual Appeal - Direct $ 0.00 $ 0.00 $ 0.00 $ 22.62 $ 0.00 $ 0.00 $ 22.62 Total 8500 Fundraising Expenses $ 0.00 $ 63.00 $ 0.00 $ 1,441.52 $ 0.00 $ 0.00 $ 1,504.52 Total Expenses $ 4,595.07 $ 4,062.99 $ 4,627.43 $ 7,652.89 $ 6,167.60 $ 5,522.22 $ 32,628.20 Net Operating Income -$ 1,649.53 -$ 4,363.22 -$ 3,992.77 $ 618.36 $ 10,714.30 $ 2,218.02 $ 3,545.16 Net Income -$ 1,649.53 -$ 4,363.22 -$ 3,992.77 $ 618.36 $ 10,714.30 $ 2,218.02 $ 3,545.16 6
Actual vs. Operating Budget Through June 30, 2016 OVER % of ACTUAL BUDGET (UNDER) BUDGET REVENUES Education: ETHS 5,088 11,730 (6,642) 43% All other 3,583 5,000 (1,417) 72% 8,671 16,730 Contributions: Individual, general 931 4,500 (3,569) 21% Individual, board 4,500 7,000 (2,500) 64% Individual, appeal 175 11,000 (10,825) 2% Foundations, unrestricted 11,164 20,000 (8,836) 56% Foundations, hoop house 2 9,800 6,500 3,300 151% Foundations, fiels 5-10 - 8,800 (8,800) 0% New funding - 10,000 (10,000) 0% Corporate 2,030 1,000 1,030 203% 28,601 68,800 Fundraising events 5,405 6,000 (595) 90% Sales: Produce 5,453 17,500 (12,047) 31% Seedlings 3,918 3,000 918 131% 9,371 20,500 Misc + interest 89 - TOTAL REVENUES $ 52,137 $ 112,030 $ (59,893) 47% EXPENSES Payroll costs: Matt 20,861 41,580 (20,719) 50% Sussana 5,388 10,334 (4,946) 52% Interns - 5,000 (5,000) 0% 26,250 56,914 Program expenses: Education - 4,000 (4,000) 0% Howard Street Farm costs 2,899 2,500 399 116% 2,899 6,500 General and administrative: Board expense - 500 (500) 0% Insurance 2,740 5,000 (2,260) 55% Technology 676 1,500 (824) 45% Supplies and other 344 1,000 (656) 34% 3,760 8,000 Fundraising events 1,505 5,000 (3,495) 30% Sales: Produce 6,843 7,400 (557) 92% Seedlings 762 2,300 (1,538) 33% Water 500 7,500 (7,000) 7% 8,105 17,200 TOTAL EXPENSES $ 42,518 $ 93,614 $ (51,096) 45% SURPLUS (DEFICIT) TO DATE $ 9,619 $ 18,416 $ (8,797) 52% 7
Actual vs. Capital Budget Through June 30, 2016 ACTUAL BUDGET OVER (UNDER) % of BUDGET Debt service $ 784 $ 1,569 $ (784) 50% Drip irrigaton, fields #1-2 1,003 1,776 (773) 56% New soil 1,888 1,890 (2) 100% RPZ back flow, field hydrant, water meter 2,131 3,800 (1,669) 56% Service road - 3,500 (3,500) 0% Water main and water lines 5,000 5,000-100% Hoop House #2-6,500 (6,500) 0% Grading fields #5-10 - 5,000 (5,000) 0% Woodlands 480 1,050 (570) 46% Totals $ 11,287 $ 30,085 $ (18,798) 38% 8
Produce Sales Through June 30, 2016 Sales, $ Sales, Lbs 2016 2015 2014 2016 2015 2014 January $ - $ 225 $ - - - - February - 150 - - - - March - 75 - - - - April 40 - - 20 - - May 2,265 - - 764 - - June 3,148 2,346 741 985 809 238 $ 5,453 $ 2,796 $ 741 1,769 809 238 Distributor $ 3,507 $ 2,510 1,169 800 Local Foods 3,507 2,510 1,169 800 Restaurant $ 1,946 $ 286 600 9 Boltwood 524-102 - Found 150-45 - Peckish Pig 612 286 123 9 Union 660-330 - Local Foods 64% 66% Restaurants 36% 34% 9