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2012 Income by class excl inkind


2012 Expense by class incl inkind 2012 Expense by class excl inkind

In 2012, CEN's income was $54,443 and its expenses were $67,375, resulting in a decrease to net assets of $12,932. The decrease to net assets (income minus expenses) of $12,932 in 2012 resulted an increase to the balance of the non-interest-bearing note payable to CEN's Director for expenses and services rendered by him for which cash payment has not yet been made. Debt is maintained as a liability on CEN's balance sheet.

Income was down $29,072 (35%) year-over-year in 2012. The single largest cause of this decline was the result of a sharp reduction from Board in-kind donations, which was down by $44,419 from last year due primarily to an extraordinary donation by CEN's Director in 2011 which did not reoccur during 2012. Income from most sources was also down modestly as a result of an increased focus on the execution of projects rather than on fundraising. Revenue from in kind Donations, other than from the board, increased significantly ($21,083 or 219%) primarily due to an increase in volunteer hours served.

CEN receives a significant portion of revenue in the form of in-kind labor from volunteers, which is recognized as a corresponding expense. In 2012, the value of in-kind labor totaled $50,067.

Total expenses increased 6% in 2012 to $67,375, primarily as result of increased number of volunteer hours served. Including the value of volunteer labor, our non-program expenses comprised 74% of our total expenses in 2012, slightly exceeding non-program expenses in 2011. Excluding the expenses related to the in kind donation of labor though, our non-program expenses comprised a much more modest 34% of total expenses, and 66% of our expenses were spent on program. We feel this is a much more appropriate measure of success meeting our fiduciary duties because it more accurately reflects the value of the expenses to which monetary donations are spent.


Additional Resources

2011 Financial Statement


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