Anita Borg Institute for Women & Technology · 2020. 9. 1. · ANITA BORG INSTITUTE FOR WOMEN & TECHNOLOGY AND AFFILIATE See accompanying notes. Page 3 CONSOLIDATED STATEMENTS OF

Report of Independent Auditors and Consolidated Financial Statements

Anita Borg Institute for Women & Technology

December 31, 2015 and 2014

CONTENTS

PAGE

REPORTOFINDEPENDENTAUDITORS.......................................................................................................................................................................................1

CONSOLIDATEDFINANCIALSTATEMENTS

Consolidatedstatementsoffinancialposition.....................................................................................................................................................................3

Consolidatedstatementsofactivities......................................................................................................................................................................................4

Consolidatedstatementsofcashflows...................................................................................................................................................................................6

Consolidatedstatementsoffunctionalexpenses................................................................................................................................................................7

Notestoconsolidatedfinancialstatements..........................................................................................................................................................................9

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REPORTOFINDEPENDENTAUDITORSTheBoardofTrusteesAnitaBorgInstituteforWomen&TechnologyandAffiliate

ReportonConsolidatedFinancialStatements

WehaveauditedtheaccompanyingconsolidatedfinancialstatementsofAnitaBorgInstituteforWomen&TechnologyandAffiliate(collectivelythe“Organization”),whichcomprisetheconsolidatedstatementsof financial position as of December31, 2015 and 2014, and the related consolidated statements ofactivities, cash flows, and functional expenses for the years then ended, and the related notes to theconsolidatedfinancialstatements.

Management’sResponsibilityfortheConsolidatedFinancialStatements

Management is responsible for the preparation and fair presentation of these consolidated financialstatementsinaccordancewithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica;thisincludesthedesign,implementation,andmaintenanceofinternalcontrolrelevanttothepreparationand fair presentation of consolidated financial statements that are free from material misstatement,whetherduetofraudorerror.

Auditor’sResponsibility

Our responsibility is to express an opinion on these consolidated financial statements based on ouraudits.WeconductedourauditsinaccordancewithauditingstandardsgenerallyacceptedintheUnitedStates of America. Those standards require that we plan and perform the audit to obtain reasonableassuranceaboutwhethertheconsolidatedfinancialstatementsarefreefrommaterialmisstatement.

Anauditinvolvesperformingprocedurestoobtainauditevidenceabouttheamountsanddisclosuresinthe consolidated financial statements. The procedures selected depend on the auditor’s judgment,includingtheassessmentoftherisksofmaterialmisstatementoftheconsolidatedfinancialstatements,whetherduetofraudorerror.Inmakingthoseriskassessments,theauditorconsidersinternalcontrolrelevanttotheentity’spreparationandfairpresentationoftheconsolidatedfinancialstatementsinorderto design audit procedures that are appropriate in the circumstances, but not for the purpose ofexpressing an opinion on the effectiveness of the entity’s internal control. Accordingly,we express nosuchopinion.Anauditalsoincludesevaluatingtheappropriatenessofaccountingpoliciesusedandthereasonableness of significant accounting estimates made by management, as well as evaluating theoverallpresentationoftheconsolidatedfinancialstatements.

Webelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopinion.

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Opinion

In our opinion, the consolidated financial statements referred to above present fairly, in all materialrespects, the financial position of Anita Borg Institute for Women & Technology and Affiliate as ofDecember31,2015and2014,andthechangesintheirnetassetsandtheircashflowsfortheyearsthenendedinaccordancewithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica.

SanFrancisco,CaliforniaNovember1,2016

CONSOLIDATEDFINANCIALSTATEMENTS

__________

ANITABORGINSTITUTEFORWOMEN&TECHNOLOGYANDAFFILIATE

Seeaccompanyingnotes.Page3

CONSOLIDATEDSTATEMENTSOFFINANCIALPOSITIONDecember31,2015and2014

2015 2014

CURRENTASSETSCashandcashequivalents 2,692,434$ 2,196,975$Restrictedcash 244,035 235,457Pledgesandcontributionsreceivable 1,568,526 1,421,502Prepaidexpenses 381,109 125,968

Totalcurrentassets 4,886,104 3,979,902

EQUIPMENT,NET 74,720 39,915

Totalassets 4,960,824$ 4,019,817$

CURRENTLIABILITIESAccountspayable 211,586$ 258,761$Accruedexpenses 1,165,874 404,599Deferredrevenue 208,560 333,250

Totalcurrentliabilities 1,586,020 996,610

LONG‐TERMLIABILITIESDeferredrevenue ‐ 33,000

Totallong‐termliabilities ‐ 33,000

Totalliabilities 1,586,020 1,029,610

NETASSETSUnrestricted 2,979,316 2,569,750Temporarilyrestricted 187,488 212,457Permanentlyrestricted 208,000 208,000

Totalnetassets 3,374,804 2,990,207

Totalliabilitiesandnetassets 4,960,824$ 4,019,817$

ASSETS

LIABILITIESANDNETASSETS



CONSOLIDATEDSTATEMENTOFACTIVITIESFortheYearEndedDecember31,2015

UnrestrictedTemporarilyRestricted

PermanentlyRestricted Total

REVENUE,GAINS,ANDOTHERSUPPORTPublicsupport:

Contributions 10,914,095$ 176,286$ ‐$ 11,090,381$In‐kindcontributions 72,382 ‐ ‐ 72,382Donatedservices 277,832 ‐ ‐ 277,832Grants 909,788 ‐ ‐ 909,788

Registrationfees 4,518,724 ‐ ‐ 4,518,724Interestincome 2,282 ‐ ‐ 2,282Otherincome 29 ‐ ‐ 29Netassetsreleasedfrom

donorrestrictions 201,255 (201,255) ‐ ‐

Totalrevenue,gains,andothersupport 16,896,387 (24,969) ‐ 16,871,418

EXPENSESProgramservices 14,130,669 ‐ ‐ 14,130,669Managementandgeneral 1,850,209 ‐ ‐ 1,850,209Funddevelopment 505,943 ‐ ‐ 505,943

Totalexpenses 16,486,821 ‐ ‐ 16,486,821

CHANGEINNETASSETS 409,566 (24,969) ‐ 384,597

NETASSETS,beginningofyear 2,569,750 212,457 208,000 2,990,207

NETASSETS,endofyear 2,979,316$ 187,488$ 208,000$ 3,374,804$



CONSOLIDATEDSTATEMENTOFACTIVITIESFortheYearEndedDecember31,2014

UnrestrictedTemporarilyRestricted

PermanentlyRestricted Total

REVENUE,GAINS,ANDOTHERSUPPORTPublicsupport:

Contributions 7,768,995$ 204,723$ 208,000$ 8,181,718$In‐kindcontributions 71,453 ‐ ‐ 71,453Donatedservices 122,217 ‐ ‐ 122,217Grants 313,908 ‐ ‐ 313,908

Registrationfees 2,851,369 ‐ ‐ 2,851,369Otherprogramservicefees/(refunds) (4,000) ‐ ‐ (4,000)Interestincome 4,884 ‐ ‐ 4,884Otherincome 250 ‐ ‐ 250Netassetsreleasedfrom

donorrestrictions 77,237 (77,237) ‐ ‐

Totalrevenue,gains,andothersupport 11,206,313 127,486 208,000 11,541,799

EXPENSESProgramservices 8,739,547 ‐ ‐ 8,739,547Managementandgeneral 1,185,034 ‐ ‐ 1,185,034Funddevelopment 248,159 ‐ ‐ 248,159

Totalexpenses 10,172,740 ‐ ‐ 10,172,740

CHANGEINNETASSETS 1,033,573 127,486 208,000 1,369,059

NETASSETS,beginningofyear 1,536,177 84,971 ‐ 1,621,148

NETASSETS,endofyear 2,569,750$ 212,457$ 208,000$ 2,990,207$



CONSOLIDATEDSTATEMENTSOFCASHFLOWSFortheYearsEndedDecember31,2015and2014

2015 2014

CASHFLOWSFROMOPERATINGACTIVITIESIncreaseinnetassets 384,597$ 1,369,059$Adjustmentstoreconcilechangeinnetassetsto

netcashprovidedbyoperatingactivities:Depreciation 30,877 19,386(Increase)decreaseinassets:

Contributionsreceivable (147,024) (465,694)Prepaidexpenses (255,141) (18,849)

Increase(decrease)inliabilities:Accountspayable (47,175) 92,063Accruedexpenses 761,275 118,129Deferredrevenue (157,690) (3,850)

Netcashprovidedbyoperatingactivities 569,719 1,110,244

CASHFLOWSFROMINVESTINGACTIVITIESPurchaseofpropertyandequipment (65,682) (31,862)

Netcashusedininvestingactivities (65,682) (31,862)

CASHFLOWSFROMFINANCINGACTIVITIES(Increase)decreaseinrestrictedcash (8,578) (215,035)

Netcashusedinfinancingactivities (8,578) (215,035)

NETINCREASEINCASH 495,459 863,347

CASHANDCASHEQUIVALENTS,BEGINNINGOFYEAR 2,196,975 1,333,628

CASHANDCASHEQUIVALENTS,ENDOFYEAR 2,692,434$ 2,196,975$

SUPPLEMENTALDISCLOSUREOFCASHFLOWINFORMATION

Interestpaid 79$ 3,034$



CONSOLIDATEDSTATEMENTOFFUNCTIONALACTIVITIESFortheYearEndedDecember31,2015

Program Managementand FundServices General Development Total

Eventdirectcosts 6,314,309$ 4,142$ 947$ 6,319,398$Leasedemployees

andrelatedbenefits 3,582,566 1,305,108 363,180 5,250,854Professionalservices 2,250,247 470,706 34,933 2,755,886Grants 686,647 ‐ ‐ 686,647Travel 447,638 126,445 73,881 647,964Officeexpenses 328,154 115,118 28,125 471,397Advertisingandpromotions 177,744 12,956 1,891 192,591Insurance 43,101 681 352 44,134Depreciation 22,053 6,619 2,205 30,877Currencyexchangeloss 4,252 4,355 ‐ 8,607Rent 273,958 (196,000) 429 78,387Interest ‐ 79 ‐ 79

Total 14,130,669$ 1,850,209$ 505,943$ 16,486,821$



CONSOLIDATEDSTATEMENTOFFUNCATIONALACTIVITIESFortheYearEndedDecember31,2014

Program Managementand FundServices General Development Total

Eventdirectcosts 3,307,782$ 3,011$ 2,668$ 3,313,461$Leasedemployees

andrelatedbenefits 2,593,095 835,786 102,525 3,531,406Professionalservices 1,526,792 171,822 60,309 1,758,923Grants 573,685 ‐ ‐ 573,685Travel 321,199 66,409 62,497 450,105Officeexpenses 235,907 74,414 16,261 326,582Advertisingandpromotions 89,352 7,330 1,050 97,732Insurance 20,687 766 94 21,547Depreciation 14,235 4,588 563 19,386Currencyexchangeloss 1,360 ‐ ‐ 1,360Rent 55,453 17,874 2,192 75,519Interest ‐ 3,034 ‐ 3,034

Total 8,739,547$ 1,185,034$ 248,159$ 10,172,740$

ANITABORGINSTITUTEFORWOMEN&TECHNOLOGYANDAFFILIATENOTESTOCONSOLIDATEDFINANCIALSTATEMENTS

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NOTE1–NATUREOFBUSINESS

TheAnitaBorgInstituteforWomen&Technology(“ABIUSA”)wasfoundedin1997andisanonprofitorganizationthatprovidesplatformsdesignedtoensurewomen’svoices,ideas,andspiritswillresultinhigherlevelsoftechnicalinnovation.OnDecember3,2014,AnitaBorgInstituteforWomenandTechnologyIndia(“ABIIndia”)wasincorporatedunderthegovernmentofIndiaandisconsolidatedwithABIUSA(collectively,the“Organization”).TheOrganizationdeliversprogramsthatarechangingtheworldforwomen and for technology. The participants in the Organization’s programs are an unusual mix of academics and industryprofessionals,and includemanyof thetechnologythought leadersof today.TheOrganization’s impact issignificantonthe livesandcareersofwomenwhoworkinthetechnologyfieldandareaffectedbytechnology.TheOrganization’smissionistoincreasethe impactofwomenonall aspectsof technology, and to increase thepositive impactof technologyon the livesof theworld’swomen.

TheOrganizationworkswithacademiatodevelopprogramsthatchangethewayinwhichtechnologyistaught,andwithindustrytodevelopprogramsthatchangeproduct/technologydevelopment.Theseprogramsaredesignedtohelpindustry,academia,andgovernmentrecruit,retain,anddevelopwomentechnologyleaders.TheOrganizationprovidesevents,awards,andcoveragethatcelebratesthewomenwhochangethefaceoftechnologyandincreasetheirvisibilitywithothers.

Sources of revenue include contributions, qualified event sponsorships, registration and application fees, and grants fromcorporations,foundations,individuals,andgovernmentagencies.

NOTE2–SIGNIFICANTACCOUNTINGPOLICIES

Basis of accounting – The consolidated financial statements of the Organization have been prepared on the accrual basis ofaccountinginconformitywithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica(“U.S.GAAP”).

Useofestimates–Thepreparationofconsolidated financialstatements inconformitywithU.S.GAAPrequiresmanagement tomakeestimatesandassumptionsthataffectthereportedamountsofassetsandliabilitiesanddisclosureofcontingentassetsandliabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during thereportingperiod.Actualresultscoulddifferfromthoseestimates.

Principlesofconsolidation–TheconsolidatedfinancialstatementsincludetheaccountsofABIUSAandABIIndia(collectively,the“Organization”).

Basis of presentation – The Organization’s consolidated financial statements are presented on the basis of unrestricted,temporarilyrestricted,andpermanentlyrestrictednetassets.

Unrestricted net assets represent unrestricted resources available to support the Organization’s operations and temporarilyrestrictedresources,whichbecameavailableforusebytheOrganizationinaccordancewiththeintentionsofdonors.

TemporarilyrestrictednetassetsrepresentcontributionsthatarelimitedinusebytheOrganizationinaccordancewithtemporarydonor imposed stipulations. These stipulations may expire with time or may be satisfied and removed by the actions of theOrganization according to the terms of the contributions. Upon satisfaction of such stipulations, the associated net assets arereleased fromtemporarilyrestrictednetassetsandrecognizedasunrestrictednetassets. Ifarestriction is fulfilled in thesamefiscalyearinwhichthecontributionisreceived,theOrganizationclassifiesthesupportasunrestricted.

Permanentlyrestrictednetassetsrepresentcontributionstobeheldasinvestmentsinperpetuityasdirectedbytheoriginaldonor.TheOrganizationhas$208,000restrictedforendowmentinpermanentlyrestrictednetassetsasofDecember31,2015and2014.

Cashandcashequivalents – Forpurposes of the consolidated statements of cash flows, theOrganization considers all highlyliquidinvestmentswithanoriginalmaturityofthreemonthsorlessandcertificatesofdepositwithnoearlywithdrawalpenaltytobecashequivalents.

Restrictedcash–Restrictedcashrepresentscontributionsreceivedthatarerestrictedbythedonors for theSysters‐Pass‐It‐Onprogram,fortimeandforanendowment.

ANITABORGINSTITUTEFORWOMEN&TECHNOLOGYANDAFFILIATENOTESTOFINANCIALSTATEMENTS

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Equipment–Equipment is carried at cost or, if donated, at the approximate fair value at the timeofdonation.Depreciation isprovidedforusingthestraight‐linemethodovertheestimatedusefullivesoftheassetswhicharecurrently3yearsforcomputerandrelatedequipment.Expendituresforpropertyandequipmentinexcessof$1,000arecapitalized.Maintenanceandrepairsareexpensedwhenincurred.

Donated services, goods, and facilities – Professional services donated by officers, directors, and other professionals arerecordedattheirestimatedfairvalueas increases inrevenuesandincreases inprogramormanagementservices,asapplicable.Donatedmaterialsarerecordedattheirestimatedfairvalueasincreasesinrevenuesandincreasesinrelatedexpenses.Donatedproperty,facilities,andothernoncashdonationsareincludedascontributionsattheirestimatedfairvalueasofthedatestheyarereceived.

Revenue recognition – Contributions are recognized as revenue when they are received or unconditionally promised. Otherincomeisrecognizedasrevenuewhenitisearned.Deferredrevenueconsistsofsponsorshipsreceivedforconferencesoreventstobe held in future years and is required to be refunded if the conference or event is cancelled. As of December31, 2015, theOrganizationhadreceivedconditionalpromisestogiveofapproximately$1,050,000.ThesepromisestogivearenotrecognizedasassetsorrevenuesasofDecember31,2015.

TheOrganizationusestheallowancemethodtodetermineuncollectiblecontributionsreceivable.Theallowanceisbasedonprioryears’ experience and management’s analysis of specific promises made. As of December31, 2015 and 2014, there were noallowancesprovidedordeemednecessary.

Functional allocationof expenses – The cost of providing various programs and other activities has been summarized on afunctionalbasisintheconsolidatedstatementsofactivitiesandintheconsolidatedstatementsoffunctionalexpenses.Accordingly,certain costshavebeenallocated amongprogramand supporting servicesbenefited. Fundraisingexpenses for theyears endedDecember31,2015and2014were$1,321and$24,932,respectively.

Incometaxes–ABIUSAisanot‐for‐profitorganizationthatisexemptfromincometaxesunderSection501(c)(3)oftheInternalRevenueCodeandunderSection23701dof theCaliforniaRevenueandTaxationCode.ABI India isanot‐for‐profitorganizationregisteredundertheCompaniesAct2013,forpromotingobjectsspecifiedinclause(a)ofsub–section(1)ofSection8ofthesaidAct. ABI India has filed all appropriate tax filingswith the government of India and it is not considered tax exempt under thegovernmentofIndia’sIncomeTaxActof1961.

U.S. GAAP requires the Organization to evaluate tax positions taken by the Organization and recognize a tax liability if theOrganizationhastakenanuncertainpositionthatmorelikelythannotwouldnotbesustaineduponexaminationbytheapplicabletaxauthority.TheOrganizationhasrevieweditstaxpositionsforallopentaxyearsandbelievesthatithasappropriatesupportforthetaxpositionstaken.Therefore,noliabilityhasbeenrecorded.

TheOrganizationfilesUnitedStatesfederalandCaliforniataxreturns.

Concentrationofcreditrisk–TheOrganizationmaintainsitscashinbankaccounts,whichattimes,mayexceedfederallyinsuredlimits. The deposits at the financial institution bear the credit risk associated with the institution. The Organization has notexperiencedanylossesinsuchaccounts.

Concentrationofcontributorsorgrants–Fivedonorsaccountedfor23%and15%oftheOrganization’srevenuein2015and2014,respectively,ofwhich$933,179and$324,404wasincludedinpledgesandcontributionreceivablesasofDecember31,2015and2014,respectively.Approximately66%ofpledgesandcontributionsreceivablewerefromfourdonorsatDecember31,2015.Approximately65%ofpledgesandcontributionsreceivablewerefromfivedonorsatDecember31,2014.

NOTE3–EQUIPMENT2015 2014

Computerandrelatedequipment 217,981$ 152,299$Less:accumulateddepreciation 143,261 112,384

Total 74,720$ 39,915$

DepreciationfortheyearsendedDecember31,2015and2014,was$30,877and$19,386,respectively.

ANITABORGINSTITUTEFORWOMEN&TECHNOLOGYANDAFFILIATENOTESTOCONSOLIDATEDFINANCIALSTATEMENTS

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NOTE4–LINEOFCREDIT

The Organization has a loan agreement with a bank for a revolving line of credit with an authorized limit of $500,000. Theoutstandingprincipalbearsinterestattheprimerateplus0%pointsperannumroundedupwardtothenearestone‐eighthofonepercentagepointor0.125%(3.25%and3.25%atDecember31,2015and2014,respectively).ThelineofcreditwasrenewedonFebruary2,2015forthesametermsandconditionsandtheentireunpaidprincipalbalanceandallaccruedandunpaidinterestisdueandpayablebyNovember3,2016.ThelineofcreditissecuredbytheOrganization’sbankaccounts,equipment,andaccountsreceivable.TherewasnooutstandingbalanceonthelineofcreditasofDecember31,2015and2014,respectively.

Interest expense relating to the above note for the years ended December31, 2015 and 2014, amounted to $79 and $3,034,respectively.

NOTE5–TEMPORARILYRESTRICTEDNETASSETS

TemporarilyrestrictednetassetsaasofDecember31,2015and2014,areasfollows:

2015 2014

SystersPass‐It‐Ongrants 27,488$ 27,457$Timebasedrestriction 160,000 185,000

Total 187,488$ 212,457$

NOTE6–BONUSPLAN

TheOrganizationhasabonusplan(the“Plan”)torecognizethecontributionsthatcertainemployeesmaketotheOrganizationbywayoftheirjudgment,initiativeandefforts,allofwhichcontributetothecontinuedsuccessoftheOrganization.ParticipationinthePlanisinthesolediscretionoftheBoardandshallbedeterminedonanawardperiodbyawardperiodbasis.EachactualawardshallbepaidsolelyfromthegeneralassetsoftheOrganization.TheOrganization,byactionoftheBoard,initssolediscretion,mayamendorterminatethePlan,oranypartthereof,atanytimeandforanyreason.Theamendment,suspension,orterminationofthe Plan shall not, without the consent of the participant, alter or impair any rights or obligations under any actual awardtheretoforeearnedbysuchparticipant.NoawardmaybegrantedduringanyperiodofsuspensionorafterterminationofthePlan.Amounts earned under the bonus plan for the years ended December31, 2015 and 2014, were $441,159 and $313,540,respectively,ofwhich$342,410and$257,025,respectively,wasreflectedinaccruedexpensesontheconsolidatedstatementsoffinancialposition.

NOTE7–IN‐KINDCONTRIBUTIONSANDDONATEDSERVICES

DuringtheyearsendedDecember31,2015and2014,theOrganizationreceivedthefollowingin‐kindcontributionsanddonatedservices:

2015 2014

Freeuseoffacilities(rent) 72,382$ 71,453$Legalfees(professionalservices) 277,132 119,217Marketingservices(advertisingandpromotion) 700 3,000

Total 350,214$ 193,670$

NOTE8–RELATEDPARTIES

The Organization’s Board members participate in fundraising and other events, as well as make contributions. Included incontributions revenue is $155,000 and $160,000 from Board members for the years ended December31, 2015 and 2014,respectively.TheOrganizationrequiresallboardmemberstoreadandsignaconflictofinterestpolicyannually.

ANITABORGINSTITUTEFORWOMEN&TECHNOLOGYANDAFFILIATENOTESTOFINANCIALSTATEMENTS

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NOTE9–ENDOWMENT

TheOrganization’s endowment consists of one individual fund established for scholarships to theGraceHopper CelebrationofWomen in Computing Conference. The net assets associated with endowment funds are classified and reported based on theexistenceorabsenceofdonor‐imposedrestrictions.

The Organization has interpreted the Uniform Prudent Management of Institutional Funds Act (“UPMIFA”) as requiring thepreservationofthefairvalueoftheoriginalgiftasofthegiftdateofthedonor‐restrictedendowmentfundsabsentexplicitdonorstipulations to the contrary. As a result of this interpretation, the Organization classifies as permanently restricted net assets(a)theoriginalvalueofgiftsdonated to thepermanentendowment, (b)theoriginalvalueof subsequentgifts to thepermanentendowment,and(c)accumulationstothepermanentendowmentmadeinaccordancewiththedirectionoftheapplicabledonorgiftinstrumentatthetimetheaccumulationisaddedtothefund.Theremainingportionofthedonor‐restrictedendowmentfundthatisnotclassifiedinpermanentlyrestrictednetassetsisclassifiedastemporarilyrestrictednetassetsuntilthoseamountsareappropriatedforexpenditurebytheOrganizationinamannerconsistentwiththestandardsofprudenceprescribedbyUPMIFA.

TheOrganization currently holds the endowment funds in amoneymarket account until it is able to establish investment andspendingpoliciesfortheendowmentassets.Fromtime‐to‐time,thefairvalueofassetsassociatedwithindividualdonor‐restrictedendowment fundsmay fall below the level that thedonororUPMIFA requires theOrganization to retain as fundsofperpetualduration.Whendonorendowmentdeficitsexist,theyareclassifiedasareductionofunrestrictednetassets.TherewerenosuchdeficienciesasofDecember31,2015or2014.

ThechangesinendowmentnetassetsfortheyearsendedDecember31,2015and2014wereasfollows:

Temporarily PermanentlyUnrestricted Restricted Restricted Total

Endowmentnetassets,January1,2014 ‐$ ‐$ ‐$ ‐$

Contributions ‐ ‐ 208,000 208,000

Endowmentnetassets,December31,2014 ‐$ ‐$ 208,000$ 208,000$

Endowmentnetassets,December31,2015 ‐$ ‐$ 208,000$ 208,000$

EndowmentnetassetcompositionbytypeoffundasofDecember31,2015and2014:

Temporarily PermanentlyUnrestricted Restricted Restricted Total

Donorrestrictedendowmentfunds ‐$ ‐$ 208,000$ 208,000$

‐$ ‐$ 208,000$ 208,000$

NOTE10–SUBSEQUENTEVENTS

Subsequent events are events or transactions that occur after the consolidated statement of financial position date but beforeconsolidatedfinancialstatementsareissued.TheOrganizationrecognizesintheconsolidatedfinancialstatementstheeffectsofallsubsequent events that provide additional evidence about conditions that existed at the date of the consolidated statement offinancial position, including the estimates inherent in the process of preparing the consolidated financial statements. TheOrganization’sconsolidatedfinancialstatementsdonotrecognizesubsequenteventsthatprovideevidenceaboutconditionsthatdidnotexistatthedateofthestatementoffinancialpositionbutaroseaftertheconsolidatedstatementoffinancialpositiondateandbeforetheconsolidatedfinancialstatementswereavailabletobeissued.

TheOrganizationhasperformedanevaluationofsubsequenteventsthroughNovember1,2016,whichisthedatetheconsolidatedfinancialstatementswereavailabletobeissued.TheOrganizationdeterminednoadditionaldisclosureisnecessary.

Documents

Anita Borg Institute for Women & Technology · 2020. 9. 1. · ANITA BORG INSTITUTE FOR WOMEN & TECHNOLOGY AND AFFILIATE See accompanying notes. Page 3 CONSOLIDATED STATEMENTS OF