Wisconsin Academy of Family Physicians

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2006 - 2007 Audit Report (PDF)

Wisconsin Academy of Family Physicians - Foundation Profit & Loss Budget Overview January through December 2008

					Jan - Dec 08
			Income
				WREN Infrastructure	10,000
				Externship Income	70,000
				WAFP	52,000
				AAFP Foundation	10,000
				Interest Income	1,000
				Designated Gifts Other	10,000
				Undesignated	10,000
				Research Inc.	25,000
			Total Income		188,000

			Expense
				Externship	59,800
				Meetings	2,000
				G.P. Clifford Mem Scholarshp	1,000
				Administrative Fee	70,000
				Office Exp	5,000
				Other Projects	15,000
				Other Exp	10,000
				Research Exp.	25,000
			Total Expense		187,800

		Net Ordinary Income			200

		Other Income/Expense
			Other Income
				G.P. Clifford Mem Scholarship	5,000
				Endowment Income	50,000
				Investment Income/Loss	12,000
			Total Other Income		67,000

	Net Income				67,200

Wisconsin Academy of Family Physicians - Foundation Balance Sheet As of December 31, 2007

	ASSETS
		Current Assets
			Checking/Savings
				Checking-Ozaukee Bank		36,298
				Savings-Ozaukee Bank
					Endowment-FOFM	490
					B Livingston-Research	1,948
					Research Fund	6,075
					Savings-Ozaukee Bank - Other	41,405
				Total Savings-Ozaukee Bank		49,918

				Glenn P Clifford Mem Scholarshp		10,545
			Total Checking/Savings			96,761

			Accounts Receivable
				1200 � Accounts Receivable		0
			Total Accounts Receivable			0

			Other Current Assets
				1499 � Undeposited Funds		459
			Total Other Current Assets			459

		Total Current Assets				97,221

		Other Assets
			Endowment-FOFM (AAFP)			139,358
		Total Other Assets				139,358

	TOTAL ASSETS					236,579

	LIABILITIES & EQUITY
		Liabilities
			2000 � Accounts Payable			1,530
		Total Accounts Payable				1,530
		Equity
			3900 � Retained Earnings			205,768
			Net Income			29,371
		Total Equity				235,049
	TOTAL LIABILITIES & EQUITY					236,579

Wisconsin Academy of Family Physicians - Foundation Revenue and Expense January through December 2007

		Income
			Education/Advocacy Income	700
			Externship Income	71,650
			WAFP	52,591
			AAFP Foundation	2,565
			Interest Income	1,362
			Designated Gifts Other	375
			Undesignated	-
			Research Inc.	5,300
		Total Income		134,543

		Expense
			Externship	52,500
			Meetings	3,058
			G.P. Clifford Mem Scholarshp	-
			Administrative Fee	50,004
			Office Exp	4,125
			Other Projects	6,658
			Other Exp	8,081
			Research Exp.	15,000
		Total Expense		139,426

	Net Ordinary Income			-4,883

	Other Income/Expense
		Other Income
			G.P. Clifford Mem Scholarship	8,145
			Endowment Income	21,763
			Investment Income/Loss	4,346
		Total Other Income		34,254

Net Income				29,371