The following information was taken from the accounts and records of the Community Society, a nongovernmental not-for-profit organization. The balances are as of December 31, 2011, unless otherwise stated:
Unrestricted support—contributions……………………………….. $3,000,000
Unrestricted support—membership dues…………………………… 400,000
Unrestricted revenues—investment income………………………… 83,000
Temporarily restricted gain on sale of investments………………… 5,000
Expenses—education………………………………………………. 300,000
Expenses—research………………………………………………… 2,300,000
Expenses—fund-raising……………………………………………. 223,000
Expenses—management and general………………………………. 117,000
Restricted support—contributions………………………………….. 438,000
Restricted revenues—investment income…………………………... 22,500
Permanently restricted support—contributions……………………... 37,000
Unrestricted net assets, January 1, 2011…………………………….. 435,000
Temporarily restricted net assets, January 1, 2011…………………. 5,000,000
Permanently restricted net assets, January 1, 2011…………………. 40,000
The unrestricted support from contributions was all received in cash during the year.
Additionally, the society received pledges totaling $425,000. The pledges should be collected during 2012, except for the estimated uncollectible portion of $16,000. The society spent $3,789,000 of restricted resources on construction of a major capital facility during 2011, and $500,000 of research expenses were for research financed from restricted donations.
REQUIRED
Prepare the statement of activities for the Community Society for 2011.