Financial summary for The Peregrine Fund — FY2010
The Peregrine Fund’s financial status continued to be impacted by the economy, as unrestricted revenues, gains, and other support decreased by 4.6% from fiscal year 2009 levels. The largest impact to operating revenue was the result of a timing issue on a government grant, resulting in approximately $480,000 of grant revenue being recorded in fiscal year 2011, instead of fiscal year 2010 as originally budgeted.
Decreases in salaries and benefits implemented during fiscal year 2009 were continued for fiscal year 2010 in order to keep expenses within estimated revenue projections while at the same time continuing critical programmatic work.
The decrease in net assets for the year was $370,494, which includes investment income of $893,174 and a decrease in pledges receivable of $761,596.
The financial results depicted are derived from The Peregrine Fund’s audited September 30, 2010 financial statements, which contain an unqualified opinion. The complete audited financial statements can be obtained by contacting The Peregrine Fund, Administrator, 5668 West Flying Hawk Lane, Boise, Idaho 83709.
STATEMENT OF FINANCIAL POSITIONAT SEPTEMBER 30, 2010 AND 2009 |
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| Assets: | 2010 | 2009 |
| Cash and cash equivalents | 1,229,452 | 1,469,630 |
| Grants receivable | 102,654 | 100,000 |
| Pledges and other receivables | 1,026,264 | 1,709,843 |
| Inventory, prepaids, and other assets | 107,114 | 80,870 |
| Property and equipment (net of depreciation) | 5,137,284 | 5,210,421 |
| Archives collection | 2,276,960 | 2,253,977 |
| Endowment assets | 9,702,738 | 9,132,925 |
| TOTAL ASSETS | $19,582,466 | $19,957,666 |
| Liabilities and Net Assets: | ||
| LIABILITIES | ||
| Accounts payable | 65,829 | 86,000 |
| Accrued taxes and expenses | 28,832 | 44,050 |
| Deferred revenue | 30,683 | —— |
| TOTAL LIABILITIES | 125,344 | 130,050 |
| NET ASSETS | ||
| Unrestricted | 17,705,367 | 17,157,734 |
| Temporarily restricted | 1,751,755 | 2,669,882 |
| TOTAL NET ASSETS | 19,457,122 | 19,827,616 |
| TOTAL LIABILITIES AND NET ASSETS | $19,582,466 | $19,957,666 |
STATEMENT OF ACTIVITIESFOR THE YEAR ENDED SEPTEMBER 30, 2010, WITH COMPARATIVE TOTALS FOR 2009 |
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| OPERATING REVENUES AND EXPENSES | ||
| Revenues: | 2010 Total | 2009 Total |
| Contributions utilized (note 1) | 3,761,110 | 3,565,551 |
| Government grants | 631,195 | 973,800 |
| In-kind revenues | 270,368 | 310,627 |
| Admissions and sales | 185,714 | 172,431 |
| Endowment funds utilized | 413,300 | 500,000 |
| Other | 46,488 | 41,258 |
| Total unrestricted revenues, gains, and other support | 5,308,175 | 5,563,667 |
| Expenses: | ||
| Program expenses | ||
| Species restoration | 2,148,565 | 2,409,663 |
| Conservation programs | 1,326,537 | 1,365,798 |
| Education / information | 1,033,855 | 1,099,660 |
| Total program expenses | 4,508,957 | 4,875,121 |
| Supporting services expenses | ||
| Administration | 388,246 | 359,267 |
| Fundraising | 380,936 | 305,739 |
| Membership | 76,628 | 87,168 |
| Total supporting services expenses | 845,810 | 752,174 |
| Total expenses | 5,354,767 | 5,627,295 |
| Operating revenues over operating expenses | (46,592) | (63,628) |
| NON-OPERATING ACTIVITIES AND PLEDGES | ||
| Non-operating activities: | 2010 Total | 2009 Total |
| Bequests and endowments | 98,092 | 61,228 |
| Investment income (loss) | 893,174 | (185,943) |
| Endowment funds utilized | (413,300) | (500,000) |
| Pledges and contributions designated for future years: | ||
| Pledges and contributions | 99,058 | 1,741,941 |
| Prior year's revenue used in current year | (1,000,926) | (448,847) |
| Total non-operating activities and pledges | (323,902) | 668,379 |
| Increase (decrease) in net assets | (370,494) | 604,751 |
| Net assets at beginning of year | 19,827,616 | 19,222,865 |
| Net assets at end of year | 19,457,122 | 19,827,616 |
| Note 1: Contributions utilized in 2010 includes current year contributions of $2,760,184, and prior years' contributions released from restrictions of $1,000,926. |
Combined Federal Campaign # 10639
