Professional Documents
Culture Documents
Financial Statements
December 31, 2012
(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, 2012 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, 2011 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 October 19, 2012 was expressed.
CDGiedt,CPA
Escondido, California
November 19, 2013
Unrestricted
Temporarily
Restricted
Permanently
Restricted
2012
Total
2011
Total
$101,502
-
$73,634
-
101,502
73,634
101,502
73,634
Assets
Current assets
Cash and
equivalents
Due from/(to)
101,502
-
101,502
Total assets
101,502
Liabilities
Current liabilities
Accounts payable
Accrued liabilities
Total current
liabilities
Total liabilities
101,502
101,502
73,634
$101,502
$73,634
101,502
Unrestricted
Temporarily
Restricted
2012
Total
2011
Total
$150
$6,563
$6,563
1,000
Income
Direct Support
Vision Project
Communications
General Operations
$58,111
Space Ventures
Teachers in Space
FlamingMir
40,726
1,230
760
28,878
28,878
9,636
1,400
1,400
61
61
426
38,132
96,243
$52,698
355,986
355,986
227,502
139,882
139,882
111,207
495,868
495,868
338,709
58,111
534,000
592,111
391,407
42,607
91,666
1,461
58,111
1,230
58,111
Donations/Grants
Program Service Revenue
NewSpace Conferences/BPC
Total Program Service Revenue
Total Income
Expense by Programs
Program support
42,607
High Frontier
Communications
Teachers in Space
7,262
7,262
3,757
206,329
206,329
157,450
2,112
135,111
135,111
160,018
4,345
318
318
368
161,000
161,000
2,085
2,085
Space Enterprise
NewSpace conferences/BPC
Space Ventures
Vision Project
Business Plan Competition
FlamingMir
IASE
Return to the Moon
The Watch
Total Expense
Increase (decrease) in net assets
299
299
7,232
7,232
2,000
42,607
521,636
2,000
564,243
421,176
$15,504
$12,364
$ 27,868
$ (29,769)
Unrestricted
Temporarily
Restricted
Permanently
Restricted
2012
Total
2011
Total
$ 53,634
$118,753
Temporarily restricted
(48,600)
Permanently restricted
Prior adjustments
Restrictions pending
(13,250)
17,085
(17,085)
15,504
12,364
86,223
($17,971)
20,000
20,000
33,250
13,250
-
Increase(decrease)
in net assets
Net assets, end of year
27,868
(29,769)
33,250
$ 101,502
$ 73,634
Increase(decrease)net assets
Adjustments to reconcile
increase (decrease) in net assets
to net cash provided by
operating activities
Changes in:
2012
Total
2011
Total
27,868
($29,769)
none
none
27,868
53,370
27,868
(29,769)
73,634
103,403
$101,502
$73,634
2012
$ 101,502
$ 101,502
K:\CDGESC2013\SPACEFRONTIER2012AUDITREPORT.docx
2011
$ 73,634
$ 73,634