Sources of Funds Statement

The Board of Directors’ goal is to maximize available funds and direct them to PRFPD’s Service & Program needs. In August 2006, the Board approved 2007 plans that establish an 85% goal for the support funds.

 

Inverness Fire & EMS Foundation

EIN: 37-1514155

Sources of Funds Statement

As of December 31, 2007

 

20051 2006 2007 Cumulative Plan
Cash Donations Received $1,843 $5,028 $3,448 $10,319  
Gifts in Kind Services  0 $   824 $   180 $  1,004  
Total Revenue $1,843  $5,852 $3,628 $11,323 $30,000
As Percentage of Total Revenue  100% 100% 100% 100% 100%
 
Support to Services & Programs $  242 $   526 $      03 $   768  
Reserved (Saving for Dept Needs) $  750 $2,035 $2,656 $5,441  
Total Donations & Reserved Funds $  992  $2,561 $2,656 $6,209 $25,500
As Percentage of Total Revenue 54% 44% 73% 55%  85%
 
General Expenses2   (   150)  (   240) (     0)4  (  390)  
Reserved for Expenses (   410) (   500) (     0)  (  910)  
Total Expenses  (  560) (   740) (     0) (1,300) (3,000)
As Percentage of Total Revenue 30% 13% 0% 11% 10%
 
Fundraising Expenses (   291) (2,551) (  972) (3,814) (1,500)
As Percentage of Total Revenue 16% 43% 27% 34% 5%

 

1 Start-up 7/6/05

2 Note: No member of the IFEF Board, Directors, or Associates receives ANY salary compensation.  All time is 100% donated to the Foundation.  Reserve Expenses include providing for future activities based on the Foundation’s business plan, provision for insurance and normal business supplies.

3 Increased savings toward future PRFPD needs

4 General Expenses 2007 - No outside consultants (Legal) charges were incurred during Year 3 operations.