Education for Prosperity Financial Year-End Report, January-December, 2005

Begin Balance (1.1.05)

$3,291.14

Operating Revenues

2005 Budget

2005 Actual

Percentage

Contributions

$15,000.00

$16,950.11

113%

Fund-raising sales

$3,000.00

$282.50

9%

Fund-raising events

$2,000.00

$2,215.00

111%

Grants

$0.00

$0.00

N/A

Totals

$20,000.00

$19,447.61

97%

Operating Expenses

2005 Budget

2005 Actual

Percentage

Salary & Benefits

$0.00

$0.00

N/A

Accounting & Legal

$350.00

$578.97

165%

Insurance

$500.00

$0.00

0%

Travel

$500.00

$280.00

56%

Website

$250.00

$107.55

43%

Supplies

$100.00

$47.21

47%

Printing & Postage

$1,000.00

$412.71

41%

Fund-raising Expense

$500.00

$0.00

0%

Miscellaneous

$0.00

$155.00

N/A

Haiti Operations

$16,800.00

$17,800.00

106%

Totals

$20,000.00

$19,381.44

97%

Total

Ending Balance (12.31.05)

 $    3,752.91

Explanations:

Note 1: This is EfP's first annual report and year-end statement.

Note 2: EfP maintained cash flow & met commitments to pay Haiti teachers all year!

Note 3: Accounting overage due to high fees to wire Haiti funds. EfP changed banks.

Note 4: Budgeted insurance for board to be obtained in 2006.

Note 5: Haiti operations overage due to adding two arts/crafts aides in September.

Note 6: EfP has no paid staff. Board members assume their own travel expenses.

Note 7: EfP board members themselves made 32% of the 2005 contributions.

Note 8: EfP acknowledges 2005 contributions in honor of Al Walker and Ted Beck.

Note 9: The EfP board gratefully acknowledges the continuing support of its friends!