FINANCIAL STATEMENTS AND REPORT OF ... - Muncie … · financial statements and report of independent certified public accountants muncie mission ministries, inc. december 31, 2013

FINANCIAL STATEMENTS AND REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS MUNCIE MISSION MINISTRIES, INC. December 31, 2013 and 2012

C O N T E N T S Page REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS 3 FINANCIAL STATEMENTS STATEMENTS OF FINANCIAL POSITION 4 STATEMENTS OF ACTIVITIES 5 STATEMENTS OF CASH FLOWS 6 NOTES TO FINANCIAL STATEMENTS 7 SUPPLEMENTAL INFORMATION REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS ON SUPPLEMENTAL INFORMATION 15 SCHEDULES OF FUNCTIONAL EXPENSES - PROGRAMS 16 SCHEDULES OF FUNCTIONAL EXPENSES - SUPPORTING SERVICES 17 SCHEDULES OF FUNCTIONAL EXPENSES - FUNDRAISING 18 SCHEDULES OF FUNCTIONAL EXPENSES - SALES, COST OF SALES AND EXPENSES 19

______________________________________________________________________________________________ 111 West Adams Street, Suite 103 | P.O. Box 42 | Muncie, Indiana 47308-0042 | 765.284.7554 | 765.284.7706 Fax

3900 South Memorial Drive | P.O. Box 1040 | New Castle, Indiana 47362-1040 | 765.529.5200 | 765.529.8840 Fax

growing businesses from insight out www.ebscpa.com

Report of Independent Certified Public Accountants

Board of Directors Muncie Mission Ministries, Inc. Report on the Financial Statements We have audited the accompanying financial statements of Muncie Mission Ministries, Inc., which comprise the statements of financial position as of December 31, 2013 and 2012, and the related statements of activities and cash flows for the years then ended, and the related notes to the financial statements. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted 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 from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Muncie Mission Ministries, Inc. as of December 31, 2013 and 2012, and the changes in their net assets and their cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.

Estep Burkey Simmons, LLC

Muncie, Indiana August 28, 2014

Page 4 of 19

2013 2012 ASSETS

CURRENT ASSETSCash and cash equivalents 812,632$ 609,312$ Investments 403,644 402,026Unconditional promises to give 33,333 53,333Accounts receivable 35 8,204Inventories 14,251 26,069Prepaid expenses 26,545 24,629Deposits 150 150

Total current assets 1,290,590 1,123,723

PROPERTY, BUILDING, AND EQUIPMENT,net of depreciation 5,329,699 5,492,078

INVESTMENTS - AGENCY FUND 19,318 16,500

6,639,607$ 6,632,301$

LIABILITIES AND NET ASSETS

CURRENT LIABILITIESAccounts payable 10,372$ 9,784$ Accrued expenses 70,204 60,128

Total current liabilities 80,576 69,912

NET ASSETSUnrestricted 6,506,380 6,492,556Temporarily restricted 42,576 59,758Permanently restricted 10,075 10,075

6,559,031 6,562,389

6,639,607$ 6,632,301$

Muncie Mission Ministries, Inc.

STATEMENTS OF FINANCIAL POSITION

December 31,

The accompanying notes are an integral part of these statements.


STATEMENTS OF ACTIVITIES

Years Ended December 31,

Temporarily PermanentlyUnrestricted Restricted Restricted Total

Support and revenueUnited Way 13,934$ 13,934$ Grants 2,061 2,061Contributions 734,689 734,689Retail operations 1,010,144 1,010,144Program service fees 22,600 22,600Recycling 210,836 210,836Delivery fees 6,900 6,900Special events 134,950 134,950Interest and dividends 2,885 406$ 3,291Realized gains (losses) on investments (112) 405 293Realized gains on the

sale of property and equipmentUnrealized gains on investments 2,223 2,223Other revenue 3,580 3,580

2,142,467 3,034 2,145,501

Net assets released from restrictionsRestrictions satisfied by payments 20,216 (20,216)

ExpensesPrograms

Rescue mission 454,059 454,059Transitional housing 1,909 1,909Food services 65,559 65,559New life 522,547 522,547Family services 29,484 29,484

Supporting servicesAdministration 394,768 394,768

FundraisingDevelopment 195,212 195,212

Cost of sales and expensesRetail operations 485,321 485,321

2,148,859 2,148,859

INCREASE (DECREASE) IN NET ASSETS 13,824 (17,182) (3,358)

Net assets at beginning of year 6,492,556 59,758 10,075$ 6,562,389

Net assets at end of year 6,506,380$ 42,576$ 10,075$ 6,559,031$

2013


Page 5 of 19

Temporarily PermanentlyUnrestricted Restricted Restricted Total

31,155$ 53,333$ 84,488$ 16,928 16,928

696,969 696,969946,593 946,593

24,200 24,200218,017 218,017

7,949 7,949124,354 124,354

3,100 413 3,513(840) 140 (700)

63,254 63,254420 1,429 1,849

4,191 4,191

2,136,290 55,315 2,191,605

40,195 (40,195)

438,566 438,5661,269 1,269

62,510 62,510436,226 436,226

26,776 26,776

346,943 346,943

197,527 197,527

460,464 460,464

1,970,281 1,970,281

206,204 15,120 221,324

6,286,352 44,638 10,075$ 6,341,065

6,492,556$ 59,758$ 10,075$ 6,562,389$

2012

Page 6 of 19


STATEMENTS OF CASH FLOWS


2013 2012Cash flows from operating activities:Increase (decrease) in net assets (3,358)$ 221,324$

Adjustments to reconcile change in net assets to netcash provided by operating activities:

Depreciation 232,415 232,038Realized (gains) losses on investments (293) 700Realized gains on disposal of property and equipment (63,254)Unrealized gains on investments (2,223) (1,849)(Increase) decrease in assets:

Accounts receivable 8,169 (1,723)Unconditional promises to give 20,000 (13,333)Inventories 11,818 (11,563)Prepaid expenses and deposits (1,916) (1,452)

Increase (decrease) in liabilities:Accounts payable 588 (19,017)Accrued expenses 10,076 7,043

Net cash provided by operating activities 275,276 348,914

Cash flows from investing activities:Proceeds from sale of property and equipment 76,584Cash payments for the purchase of property and equipment (70,036) (75,009)Proceeds from sale of investments 5,332 1,957Purchase of investments (7,252) (302,139)

Net cash used in investing activities (71,956) (298,607)

Net increase in cash and cash equivalents 203,320 50,307

Cash and cash equivalents at beginning of year 609,312 559,005

Cash and cash equivalents at end of year 812,632$ 609,312$

Supplemental DisclosuresDonated securities 4,927$


Page 7 of 19


NOTES TO FINANCIAL STATEMENTS

December 31, 2013 and 2012

NOTE A - SUMMARY OF ACCOUNTING POLICIES 1. Organization

Muncie Mission Ministries, Inc. (Muncie Mission) provides shelter for homeless men in Muncie and Delaware County, Indiana. The Muncie Mission also provides meals for residents, free lunch to needy nonresidents, chapel services, support meetings and educational classes. Needy families, single women and children are assisted through the provision of clothing, furniture, household needs and food. Support groups and educational classes are available for families. Financial support for these services consists of grants and donations from private and public organizations and individuals. In addition, the Muncie Mission operates retail shops to provide low cost or free clothing and household items to low-income families. The Muncie Mission is exempt from federal and state income taxes under Section 501(c)(3) of the Internal Revenue Code. The Muncie Mission is not considered to be a private foundation. 2. Functional Expenses

Expenses are charged to each program based on direct expenditures incurred. Any expenditure not directly chargeable to a program is presented as a supporting service. 3. Contributions

Contributions are recognized when the donor makes a promise to give to the Muncie Mission that is, in

substance, unconditional. Contributions that are restricted by the donor are reported as increases in unrestricted net assets if the restrictions expire in the financial year in which the contributions are recognized. All other donor-restricted contributions are reported as increases in temporarily or permanently restricted net assets, depending on the nature of the restrictions. When a restriction expires, temporarily restricted net assets are reclassified to unrestricted net assets.

4. Cash and Cash Equivalents

The Muncie Mission maintains its cash in accounts at local financial institutions which are insured by agencies of the U.S. Government and money market accounts. For purposes of the statement of cash flows, the Muncie Mission considers all unrestricted highly liquid investments with an initial maturity of three months or less to be cash equivalents.

5. Accounts Receivable

Muncie Mission’s accounts receivables have contractual maturities of one year or less, and therefore are exempted from the disclosure requirements of FASB ASC 310-10-50. The Muncie Mission considers accounts receivable to be fully collectible; accordingly, no allowance for doubtful accounts is required. If amounts become uncollectible, they will be charged to operations when that determination is made.

6. Inventories

Inventories are accounted for using the first-in first-out method and recorded at the lower of cost or market. 7. Compensated Absences All employees earn Paid Days Off (PDO) depending on their length of service. PDO can be used for vacation, sick leave or personal days and are taken in full days only. PDO may be carried over from year to year and accumulated to be used only for sick leave, not to exceed 30 days.

Page 8 of 19




NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued 8. Property, Building and Equipment

Property, building and equipment owned by the Muncie Mission are recorded at cost less accumulated depreciation. Depreciation is computed by the straight-line method over the useful class lives of the assets, ranging from three to forty years. Expenditures for maintenance, repair and minor renewals are charged to income as incurred. Additions and major renewals are capitalized. The cost and related accumulated depreciation of assets sold or otherwise disposed of are removed from the accounts. Any gain or loss is credited or charged to income. 9. Investments

Investments consist primarily of certificates of deposit and marketable equity and debt securities that are stated at fair value based on quoted market prices. Investment securities are exposed to various risks, such as interest rate, market and credit risk. Due to the risks associated with investment securities and the uncertainty related to changes in the fair value of investment securities, it is at least reasonably possible that changes in fair value could materially affect the net assets of the Muncie Mission. Investment income, net realized and unrealized gains or losses are classified as unrestricted, temporarily or permanently restricted revenue or expenses, depending on the existence and/or nature of any donor restrictions. 10. Concentration of Credit Risk The Muncie Mission maintains its cash in bank deposit accounts at high credit quality financial institutions. The balances, at times, may exceed federally insured limits of up to $250,000. At December 31, 2013 and 2012, the Muncie Mission exceeded the insured limit by approximately $1,002,413and $767,682, respectively.

11. Contributed Services

During the years ended December 31, 2013 and 2012, the value of contributed services meeting the requirements for recognition in the financial statements, under FASB ASC 958, Not-for-Profit Entities, was not material and has not been recorded. 12. Uncertain Tax Positions The Muncie Mission follows the Income Tax topic of the FASB ASC. The Muncie Mission now recognizes a tax benefit only if it is more likely than not the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized will be the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the more-likely-than-not test, no tax benefit will be recorded. The Muncie Mission has examined this issue and has determined there are no material contingent tax liabilities.

The Muncie Mission’s federal and state exempt organization tax returns for 2010, 2011, and 2012 are subject to examination by the Internal Revenue Service and the Indiana Department of Revenue. Returns are generally subject to examination for three years after they are filed.

Page 9 of 19




NOTE A - SUMMARY OF ACCOUNTING POLICIES - Continued 13. Functional Allocation of Expenses Expenses are charged to each program based on direct expenditures incurred. Any expenditure not directly chargeable to a program is presented as supporting services.

In addition, the Muncie Mission operates several retail shops. The direct expenses of operating these shops are segregated from program and supporting services. 14. Advertising

Advertising costs are expensed as incurred and included in functional expenses. Advertising expenses totaled $21,593 and $22,684 for 2013 and 2012, respectively.

15. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the

United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates.

NOTE B - INVESTMENTS

The following is an analysis of the cost and fair value at December 31, 2013 and 2012 by type of investment. The investments are held in bank and uninsured investment accounts at various financial institutions.

2013 2012Fair Fair

Value Value

Certificates of deposit $ 403,644 $ 402,026

Assets at fair value $ 403,644 $ 402,026

Total investments, at historical cost $ 400,000 $ 400,000

The following schedule summarizes the investment return and its classification in the statement of activities for the years ended December 31, 2013 and 2012.

TemporarilyUnrestricted Restricted Total

Investment return $ 2,885 $ 406 $ 3,291 Realized gains (losses) on investments (112) 405 293 Unrealized gains on investments - 2,223 2,223

$ 2,773 $ 3,034 $ 5,807

2013

Page 10 of 19




NOTE B - INVESTMENTS - Continued

TemporarilyUnrestricted Restricted Total

Investment return $ 3,100 $ 413 $ 3,513 Realized gains (losses) on investments (840) 140 (700)Unrealized gains on investments 420 1,429 1,849

$ 2,680 $ 1,982 $ 4,662

2012

NOTE C - RISKS AND UNCERTAINTIES

The Muncie Mission holds a variety of investments (Note B). Such investments are exposed to various risks such as interest rate, market, and credit. Due to the level of risk associated with these securities and the level of uncertainty related to changes in the value, it is at least reasonably possible that changes in the various risk factors will occur in the near term that could materially affect the amounts reported in the accompanying financial statements.

NOTE D - FAIR VALUE MEASUREMENTS The Muncie Mission follows the provisions of the Fair Value Measurements and Disclosures topic of the FASB ASC. FASB ASC-820-10-35-19 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. FASB ASC 820-10-35-37 establishes a hierarchy of inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the observable inputs be used when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Muncie Mission. Unobservable inputs are inputs that reflect the Muncie Mission’s assumptions about the assumptions that market participants would use in pricing the asset or liability, developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the reliability of inputs as follows:

Level 1 - Valuations based on quoted prices in active markets for identical assets or liabilities that the

Organization has the ability to access. Valuation adjustments are not applied to Level 1 instruments. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these products does not entail a significant degree of judgment.

Level 2 - Valuations based on quoted prices in markets that are not active or for which all significant inputs are observable, directly or indirectly.

Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

The availability of observable inputs can vary and is affected by a wide variety of factors. To the extent that valuation is based on models or inputs that are less observable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Page 11 of 19




NOTE D - FAIR VALUE MEASUREMENTS - Continued The following tables set forth financial assets measured at fair value in the Statement of Financial Position and the respective levels to which the fair value measurements are classified within the fair value hierarchy as of December 31, 2013 and 2012, respectively:

December 31, 2013

FairValue Level 1

Assets:Investments $ 403,644 $ 403,644 Investments - agency fund $ 19,318 $ 19,318 Unconditional promises to give $ 33,333 $ 33,333

December 31, 2012

FairValue Level 1

Assets:Investments $ 402,026 $ 402,026 Investments - agency fund $ 16,500 $ 16,500 Unconditional promises to give $ 53,333 $ 53,333

Fair values for investments and unconditional promises to give are determined by reference to quoted market prices and other relevant information generated by market transactions.

NOTE E - PROPERTY, BUILDING AND EQUIPMENT

The amounts of fixed assets, net of depreciation, at December 31, 2013 and 2012 consist of the following.

2013 2012

Land $ 338,501 $ 338,501 Buildings and improvements 5,790,325 5,781,825 Furniture, fixtures and equipment 697,311 634,232 Vehicles 201,420 201,420

7,027,557 6,955,978 Less accumulated depreciation 1,697,858 1,463,900

$ 5,329,699 $ 5,492,078

Page 12 of 19




NOTE F - INVESTMENT - AGENCY FUNDS

An endowment (agency) fund was established at the Community Foundation of Muncie and Delaware County, Inc. in 1998. As described in Note A, the assets of the fund are recorded at their fair value.

Fair CarryingCost Value Value

December 31, 2013 $10,075 $19,318 $19,318December 31, 2012 $10,075 $16,500 $16,500

The following schedule summarizes the investment return and its classification in the Statements of Activities for the years ended December 31, 2013 and 2012.

2013 2012Temporarily TemporarilyRestricted Restricted

Investment income $ 406 $ 413 Realized gains on investments 405 140 Unrealized gains on investments 2,223 1,429

$ 3,034 $ 1,982

NOTE G - UNCONDITIONAL PROMISES TO GIVE

Unconditional promises to give consist of funding from the United Way and are payable within over the next 3 years. The amounts due at December 31, 2013 and 2012 were $33,333 and $53,333, respectively. Uncollectible promises are expected to be insignificant. The following summarizes the amounts due to Muncie Mission for the next five years.

Years ending December 31, 2014 $ 20,000 2015 $ 13,333 2016 $ - 2017 $ - 2018 $ -

NOTE H - RESTRICTIONS ON ASSETS

Temporarily restricted net assets consist of unconditional promises to give from United Way funding for the next fiscal year and investments held at the Community Foundation of Muncie and Delaware County, Inc.

Temporarily restricted net assets are available as follows.

2013 2012

United Way promise to give 33,333$ 53,333$ Agency fund investment income 9,243 6,425

42,576$ 59,758$

Page 13 of 19




NOTE H - RESTRICTIONS ON ASSETS - Continued The Muncie Mission follows the topic Donor-Restricted Endowment Fund under FASB ASC 958. FASB ASC 958 provides guidance on the net asset classification of donor-restricted endowment funds for organizations subject to an enacted version of UPMIFA. In accordance with the Muncie Mission’s endowment agreement, charitable endowments are classified as permanently restricted net assets. All other Muncie Mission net assets are considered unrestricted or temporarily restricted. Permanently restricted net assets consist of the cost value of contributions made to the agency fund investment. For the years ended December 31, 2013 and 2012, permanently restricted net assets totaled $10,075. Changes in endowment net assets for the years ended December 31, 2013 and 2012 were as follows:

2013Temporarily Permanently Restricted Restricted

Revenue and supportInvestment return $ 3,034

Total revenue and support 3,034

Appropriatation of endowment assets for expenditure 216

Change in endowment net assets 2,818

Endowment net assets, beginning of year 6,425 $ 10,075

Endowment net assets, end of year $ 9,243 $ 10,075

2012Temporarily Permanently Restricted Restricted

Investment return $ 1,982

Total revenue 1,982

Appropriatation of endowment assets for expenditure 205

Change in endowment net assets 1,777

Endowment net assets, beginning of year 4,648 $ 10,075

Endowment net assets, end of year $ 6,425 $ 10,075

Page 14 of 19




NOTE I - EMPLOYEE BENEFIT PLAN

Eligible employees may participate in the Muncie Mission’s 403(b) retirement plan. Participants may contribute up to $10,000 or 25% of their compensation annually. Matching contributions are made at the Muncie Mission’s discretion; however, none have been made for the years ended December 31, 2013 and 2012.

Beginning in 2000, eligible employees may participate in the Muncie Mission’s 401(k) retirement plan. An initial lump-sum contribution of $5,000 was contributed by the Muncie Mission and distributed equally among the eligible employees. Matching contributions of up to 3% are made monthly by the Muncie Mission. Expense for the years ended December 31, 2013 and 2012, was $19,473 and $19,282, respectively.

NOTE J - LEASED FACILITIES

The Muncie Mission conducts the operations of three of its Attic Window stores in facilities located in Winchester and Muncie, Indiana. The Winchester, Indiana lease is a month to month lease with rental payments of $500 due on the first day of each month. The Muncie, Indiana lease is a three year lease with rental payments of $2,140 due on the 15th day of each month. The other Muncie, Indiana lease is a one year lease with rental payments of $1,000 due on the 1st of each month.

Total rent expense, for all operating leases, was $36,970 and $29,590 for the years ended December 31, 2013 and 2012, respectively. Future minimum payments on the above leases are as follows.

Year ending December 31, 2014 $ 34,540 2015 $ - 2016 $ - 2017 $ - 2018 $ -

NOTE K - RELATED-PARTY TRANSACTIONS

During 2013, officers and board members made donations to the Muncie Mission. Total donations received totaled $19,320. During 2012, officers and board members made donations to the Muncie Mission. Total donations received totaled $14,250.

NOTE L - COMMITMENTS AND CONTINGENCIES

The Muncie Mission is subject to laws and regulations relating to the protection of the environment. The Muncie Mission’s policy is to accrue environmental and cleanup-related costs of a noncapital nature when it is both probable that a liability has been incurred and when the amount can be reasonably estimated. Although it is not possible to quantify with any degree of certainty the potential financial impact of the Muncie Mission’s continuing compliance efforts, management believes any future remediation or other compliance-related costs will not have a material adverse effect on the financial condition or reported results of operations of the Muncie Mission.

NOTE M - SUBSEQUENT EVENTS

In accordance with FASB ASC Topic 855, Subsequent Events, the Muncie Mission has evaluated subsequent events through August 28, 2014, which is the date these financial statements were available to be issued. All subsequent events requiring recognition as of December 31, 2013, have been incorporated into these financial statements herein.

SUPPLEMENTAL INFORMATION

______________________________________________________________________________________________ 111 West Adams Street, Suite 103 | P.O. Box 42 | Muncie, Indiana 47308-0042 | 765.284.7554 | 765.284.7706 Fax

3900 South Memorial Drive | P.O. Box 1040 | New Castle, Indiana 47362-1040 | 765.529.5200 | 765.529.8840 Fax

growing businesses from insight out www.ebscpa.com

Report of Independent Certified Public Accountants on Supplemental Information

Board of Directors Muncie Mission Ministries, Inc. We have audited the financial statements of Muncie Mission Ministries, Inc. as of and for the years ended December 31, 2013 and

2012, and have issued our report thereon dated August 28, 2013, which contained an unqualified opinion on those financial

statements. Our audits were performed for the purpose of forming an opinion on the financial statements as a whole. The schedules of

functional expenses are presented for the purposes of additional analysis and are not a required part of the financial statements. Such

information is the responsibility of management and was derived from and relates directly to the underlying accounting and other

records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of

the financial statements and certain additional procedures, including comparing and reconciling such information directly to the

underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other

additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the

information is fairly stated in all material respects in relation to the financial statements as a whole.

Estep Burkey Simmons, LLC Muncie, Indiana August 28, 2014


SCHEDULES OF FUNCTIONAL EXPENSES - PROGRAMS


2013

Rescue Transitional Food New FamilyMission Housing Services Life Services Total

Salaries 231,327$ 29,240$ 237,436$ 17,327$ 515,330$ Payroll taxes 18,022 2,378 18,820 1,387 40,607Employee benefits 26,556 8,959 56,096 505 92,116Supplies 11,002 7,564 4,360 184 23,110Telephone 695 695Client subsidies 1,291 3,685 19,318 24,294Client programs 7,234 582 7,816Emergency assistance 509 6,894 7,403Food 632 10,868 11,500Utilities 48,722 1,146$ 15,152 52 65,072Printing 4,754 4,754Postage 3,159 3,159Advertising 8,836 240 9,076Professional services 1,457 18,089 360 19,906Professional development 4,948 1,250 6,198Dues and subscriptions 3,305 3,305Insurance 18,225 349 15,983 349 34,906Licenses and fees 340 1,127 1,467Equipment rental and repair 653 1,122 13,646 15,421Repairs and maintenance 221 327 120 7,348 8,016Auto expense 2,004 14,949 1,844 18,797Depreciation 56,294 364 1,274 85,276 143,208Miscellaneous 4,568 72 12,762 17,402

454,059$ 1,909$ 65,559$ 522,547$ 29,484$ 1,073,558$

Page 16 of 19

2012

Rescue Transitional Food New FamilyMission Housing Services Life Services Total

224,215$ 28,102$ 193,463$ 16,153$ 461,933$ 16,898 2,130 14,520 1,254 34,80218,539 8,136 52,787 472 79,934

8,544 6,680 1,457 16,681282 837 1,119

1,840 3,576 20,017 25,43317,213 17,213

1,890 6,077 7,9674,347 12,315 16,662

46,261 397$ 15,195 61,8537,754 7,7541,945 1,9453,533 4,439 7,9721,820 17,914 360 20,094

230 2301,470 248 248 1,966

14,486 270 12,910 270 27,936468 1,339 1,807

1,121 2,947 4,0681,143 856 28 4,510 6,5372,055 16,123 1,942 20,120

53,566 16 1,273 68,243 123,0988,946 9,277 18,223

438,566$ 1,269$ 62,510$ 436,226$ 26,776$ 965,347$

Page 17 of 19

2013 2012

Salaries 175,423$ 172,442$ Payroll taxes 7,324 6,078Employee benefits 41,639 23,774Supplies 1,170 806Telephone 7,002 5,749Postage 6,025 2,741Professional services 54,489 24,959Professional development 11,897 3,007Dues and subscriptions 620 1,438Insurance 3,399 3,105Licenses and fees 97 96Equipment rental 158Repairs and maintenance 393 783Depreciation 81,430 101,125Miscellaneous 3,702 840

394,768$ 346,943$


SCHEDULES OF FUNCTIONAL EXPENSES - SUPPORTING SERVICES


Page 18 of 19

2013 2012

Salaries 49,831$ 47,806$ Payroll taxes 4,010 3,618Employee benefits 4,824 1,670Special events 26,405 20,565Supplies 15Printing 47,242 60,052Postage 32,674 37,744Advertising 100 2,003Professional services 10,571 10,901Professional development 310 70Dues and subscriptions 325 423Insurance 349 270Food 263 198Depreciation 190 190Miscellaneous 18,103 12,017

195,212$ 197,527$


SCHEDULES OF FUNCTIONAL EXPENSES - FUNDRAISING


Page 19 of 19

2013 2012

Sales 1,010,144$ 946,593$

Cost of sales and expensesCost of sales 112,386 103,100Salaries 196,179 197,333Payroll taxes 15,588 14,883Employee benefits 23,286 26,943Supplies 1,159 2,443Telephone 4,204 3,687Utilities 34,973 33,084Rent 35,970 29,590Advertising 14,832 12,739Professional services 1,040 1,049Professional development 1,220Credit card fees 12,733 11,263Insurance 13,210 10,613Repairs and maintenance 9,398 5,360Depreciation 7,587 7,625Miscellaneous 1,556 752

485,321 460,464

524,823$ 486,129$

Operations


SCHEDULES OF FUNCTIONAL EXPENSES -


Retail

SALES, COST OF SALES AND EXPENSES

Documents

FINANCIAL STATEMENTS AND REPORT OF ... - Muncie … · financial statements and report of independent certified public accountants muncie mission ministries, inc. december 31, 2013