Renaissance Society of America

Renaissance Quarterly, Winter 2000 | Go to article overview

Renaissance Society of America


William Bregman

1999 FINANCIAL STATEMENT

REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT

Members of the Executive Board And Advisory Council

The Renaissance Society of America

I have audited the statements of financial position of The Renaissance Society of America ( a New York nonprofit organization ) as of December 31, 1999 and 1998, and the related statements of activity and cash flows for the years then ended. These financial statements are the responsibility of the Society's management My responsibility is to express an opinion on these financial statements based on my audit.

I conducted my audits in accordance with generally accepted auditing standards. Those standards require that I plan and perform the audit obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. I believe that my audit provides a reasonable basis for my opinion.

In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of The Renaissance Society of America as of December 31, 1999 and 1998, and the results of its activity and cash flows for the years then ended, in conformity with generally accepted accounting principles.

New York, New York

February 15, 2000

                    THE RENAISSANCE SOCIETY OF AMERICA
                     STATEMENTS OF FINANCIAL POSITION
                     FOR THE YEARS ENDED DECEMBER 31.
                                        1999        1998
ASSETS
 Cash                            $    70,986 $    66,184
 Accounts receivable                     785         835
 Deferred annual meeting costs        14,519           -
 Prepaid expenses                      3,010       2,862
 Prepaid electronic bibliography           -       8,000
 Investment securities             2,422,873   1,849,426
 Deposits                              6,766       1,124
 Property and equipment, net          10,365      12,535
   Total Assets                    2,529,304   1,940,966
LIABILITIES
 Accounts payable and accrued
   expenses                            5,000       5,050
 Deferred memberships                 38,155      29,000
 Deferred subscriptions               77,993      73,291
 Deferred revenue                     39,500      16,100
   Total liabilities                 160,648     123,441
NET ASSETS
 Unrestricted                      2,323,841   1,772,710
 Temporarily restricted                    -           -
 Permanently restricted               44,815      44,815
   Total Net Assets                2,368,656   1,817,525
   Total Liabilities and
     Net Assets                  $ 2,529,304 $ 1,940,966
                    THE RENAISSANCE SOCIETY OF AMERICA
                     STATEMENTS OF ACTIVITIES FOR THE
                         YEARS ENDED DECEMBER 31.
                                          1999     1998
UNRESTRICTED NET ASSETS
 Support:
  Iter subscriptions                  $  5,826 $  4,155
  Memberships                          187,006  192,945
  Use of donated facilities             18,000   18,000
  Contributions                         26,275   23,635
  Grants                                 9,000        -
  Investment return                    605,109  350,974
   Total Support                       851,216  588,974
 Revenue:
  Annual Meetings                       28,455   58,303
  Advertising                            9,275    9,350
  Air Freight                            2,275    2,775
  Publication                            5,714    7,663
  Mailing list rental                    4,302    4,359
  Cranz microfilm corpus                 7,800    1,982
  Other                                  4,670    4,808
   Total Revenue                        62,491   89,240
Net assets released from restrictions        -  156,240
   Total Support and Revenue           913,707  834,454
Expenses:
 Program Services
  Renaissance Quarterly                 97,169   92,973
  Newsletter publication                 7,303    7,588
  Publication subsidles                  3,179    2,582
  Cranz microfilm corpus                 7,091    1,482
  Grants                                30,562        -
  Renaissance education                      -  144,275
  On line bibliography                   8,211    2,846
  Web page                               1,255    1,674
  Directory                              4,842
  Other program services                22,167   69,526
   Total Program Services              181,779  322,946
Supporting services                    180,797  176,021
   Total Expenses                     $362,576 $498,967
Increase in Unrestricted Net Assets           $   551,131 $   335,487
TEMPORARILY RESTRICTED NET ASSETS
  Grant support                                         -     121,240
  Net assets released from donor restrictions           -   (156,240)
  (Decrease) Increase In Temporarily
    Restricted Net Asset                                -    (35,000)
PERMANENTLY RESTRICTED NET ASSETS
  Endowment Investment return                       1,600       1,600
  Endowment expenses:
   William Nelson Prize                             (600)       (600)
   Bennett Memorial Prize                         (1,000)     (1,000)
    Total endowment expense                       (1,600)     (1,600)
Increase In Permanently Restricted
 Net Assets
TOTAL INCREASE IN NET ASSETS                      551,131     300,387
NET ASSETS, beginning of year                   1,817,525   1,517,038
NET ASSETS, end of year                       $ 2,368,656 $ 1,817,525
                    THE RENAISSANCE SOCIETY OF AMERICA
                         STATEMENTS OF CASH FLOWS
                     FOR THE YEARS ENDED DECEMBER 31. … 

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Renaissance Society of America
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.