Professional Documents
Culture Documents
Financial Statements
December 31, 2011
(With Independent Auditors Report thereon)
Member
www.cdgiedtcpa.com
FAX: 760.747.0588
We have audited the accompanying statement of financial position of the Space Frontier Foundation,
Inc. (a non-profit corporation) as of December 31, 2011 and the related statements of activities,
changes in net assets and cash flows for the year then ended. These financial statements are the
responsibility of the Space Frontier Foundation, Inc. management. Our responsibility is to express an
opinion on these financial statements based on our audit.
We conducted our audit in accordance with generally accepted auditing standards in the United States
of America. Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement. An audit 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. We believe
that our audit provides a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of the Space Frontier Foundation, Inc. as of December 31, 2011 and the results of its
operations for the year then ended, in conformity with generally accepted accounting principles in the
United States of America.
Information for the year ended December 31, 2010 is presented for comparative purposes only and
was extracted from the financial statements presented by fund for the year, in which an unqualified
opinion dated November 20, 2011 was expressed.
CDGiedt,CPA
Escondido, California
October 19, 2012
Unrestricted
Temporarily
Restricted
Permanently
Restricted
2011
Total
2010
Total
$ 73,634
$103,403
Assets
Current assets
Cash and equivalents
Due from/(to)
73,634
(20,000)
20,000
53,634
Total assets
$53,634
20,000
73,634
103,403
$20,000
$73,634
103,403
Liabilities
Current liabilities
Accounts payable
Accrued liabilities
Total liabilities
53,634
53,634
$ -
20,000
73,634
103,403
20,000
$ 73,634
$103,403
Unrestricted
Temporarily
Restricted
2010
Total
2011
Total
Income
Direct Support
Vision Project
Communications
General Operations
150
150
1,000
1,000
5,000
40,726
64,669
40,726
Space Enterprise
2000
1,341
Space Ventures
Teachers in Space
760
760
700
9,636
9,636
37,679
340
86
426
287
41,067
11,632
$52,698
111,676
Grants
64,501
163,001
227,502
50,000
111,207
111,207
65,071
64,501
274,208
338,709
115,071
105,567
285,840
391,407
226,746
91,417
249
91,666
43,015
High Frontier
1,461
1,461
612
Communications
3,757
3,757
4,094
154
157,450
157,450
24,350
Total Income
Expense by Programs
Program support
Overview Institute
Teachers in Space
Space Enterprise
NewSpace conferences/BPC
82,153
Space Ventures
Vision Project
Total Expense
Increase (decrease) in net assets
173,570
$
(68,003)
2,112
2,112
77,865
160,018
4,345
4,345
368
368
247,607
421,176
38,232
(29,769)
101,152
173,376
$
53,370
Unrestricted
Temporarily
Restricted
Permanently
Restricted
2011
Total
2010
Total
$118,753
$96,899
(48,600)
(80,116)
33,250
33,250
(29,769)
53,370
20,000
$ 73,634
$103,403
$(48,600)
Permanently restricted
Released restrictions
(10,367)
33,250
10,367
13,250
Increase(decrease)
in net assets
(13,250)
(68,003)
38,233
53,634
$( -)
Increase(decrease)net assets
Adjustments to reconcile
increase (decrease) in net assets
to net cash provided by
operating activities
Changes in:
2011
Total
2010
Total
($29,769)
$53,370
none
-
(29,769)
53,370
(29,769)
53,370
Beginning of year
103,403
50,033
End of year
$73,634
$103,403
K:\CDGESC2012\SPACEFRONTIER2011AUDITREPORT.docx
2011
2010
$ 73,634 $ 103,403
$ 73,634 $ 103,403