Illustrative Funds-Based Financial Statements for Voluntary Health and Welfare Organizations
Statements reflect information from the entries in the text for the People's Environmental Protection (PEP) Association within the existing funds structure for voluntary health and welfare organizations as described below.
Note that in Illustration 18A-2, all the funds—total public support and revenue (A), total expenses (B), change in net assets (F = C + D + E), net assets beginning of year (G), and net assets end of year (H)—match up with the related disclosures in Illustration 18-2 (page 18-20). Similarly, the fund totals shown in Illustration 18A-3 present the same disclosures required in Illustration 18-4 (page 18-21). In addition, the net assets end of year (H) disclosure on both the statement of financial position and the statement of activities ties these two reports together.
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Those who truly want to attain a financially free mindset, have only to set their minds on it, and acquire the proper means, as they do in relation to any other aim which they want to achieve, and it can be easily done.