Financial Statements Report as of September 30, 2000
Assets:
Lifering, Inc currently has $15,910 in current assets, $8,060 of which is in cash and $936 in securities. There are books & publications held for sale or donation at a value of $6,575.
Liabilities:
Current payables as of Sept 30 were $1,237. Most of this was the final payment due for the printing of the Providers book, in the amount of $1,100. It has now been paid, which reduces cash on hand to $6,960.
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Lifering, Inc. has had a net income of $2,751 so far for the current fiscal year. Income from Sales of publications has been $1,792.; Donations and Contributions have been $4,477.
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A portion of the Income & Expense of Lifering, Inc. is attributed to the contribution activity between the Service Center and local LSR meeting groups. The groups donate a portion of their basket collections to the Service Center. In return, the SC provides brochures to the meetings and also those wishing to start meetings. Appropriate postage and telephone expense is also charged to Service Center accounts.
The P&L includes the amount of $2,279 of contributions to the Service Center for the year 2000. These monies are those actually received this year, however about $400 were actually collected in 1999, but held by the meeting treasurers.
Expenses shown on the Service Center P&L are all related to the current fiscal year.
-- Marjorie Jones, CFO, LifeRing Inc.