Beds For Kids 2010
ASSETS
Current Assets
Petty Cash $ 400.00
Business Credit Card 200.00
Regular Checking Account 865.46
Total Current Assets $1,465.46
Property and Equipment
Equipment - Computer $101.00
Automobiles 2,500.00
Total Property and Equipment $2,601.00
Other Assets
Total Other Assets $ 0.00
Total Assets $ 4,066.46
LIABILITIES AND CAPITAL
Current Liabilities
Total Current Liabilities $ 0.00
Long-Term Liabilities
Total Long-Term Liabilities $ 0.00
Total Liabilities $ 0.00
Capital
Retained Earnings ($ 1,245.52)
Net Income $5,311.98
Total Capital $4,066.46
Total Liabilities & Capital $ 4,066.46
To the Board of Directors of
Beds For Kids, Inc.
Midlothian, VA. 23114
These financial statements are the responsibility of the Organization’s management. We are not currently required to seek an outside auditor of the financial position of Beds For Kids, Inc. However, we will have an independent audit at the end of the 2011 fiscal year.
These financial statements are certified to the best of my ability true and accurate for 2010. In 2010 our financial well-being was derived from one significant fundraiser “Kid’s Fest” and from our second ongoing fundraiser “Beds Make Cents” coin drive. We have 100% financial participation from our Board of Directors.
While most of our assets have gone to the operations of our programs we did not purchase beds and bedding due to the amount of material donations that came in and the amount of deliveries we were able to make. However, due to a restricted donation for a box truck, we now have the capability to deliver a large quantity of beds in a single day and will have a greater need for new and purchased beds.
Through volunteers, free radio and printed advertisement we have increased our donations and revenue by 600% from 2009 to 2101 and expect to at least increase our donations by 300% from 2010 to 2011.
We are confident that Beds For Kids, Inc. is a required service in our community and the expanded areas throughout the United States. It is our fiduciary responsibility to maintain integrity with our donor base. The financial position of Beds For Kids, Inc. as of December 31, 2010, in its changes to net assets and its cash flows ended in conformity with accounting principles generally accepted in the United States.
Jenny Jones
CEO/CFO
Beds For Kids, Inc.
804.302.4227 office
