Foundation Financial Information

Below are the audited Statement of Activities and Statement of Financial Position for the year ending Dec. 31, 2009 for the Lord Fairfax Community College Educational Foundation Inc. If you have any questions or if you would like to review a complete copy of the audited financial statements, please contact:

David Urso
Executive Director, LFCC Educational Foundation Inc.
Director of Development, Lord Fairfax Community College
173 Skirmisher Lane
Middletown, VA 22645-1745
Telephone number: 540-868-4077
Fax number: 540-868-4081
Web Site: www.lfcc.edu
Email David

Statement of Activities Year Ended Dec. 31, 2009

Unrestricted		Temporarily Restricted	Permanently Restricted	Total
Support, Revenue and Reclassifications
Public support (includes in-kind gifts of $1,203)	$21,872	$61,366	$125,095	$208,333
Investment return	368	177,113	644,407	821,888
Net assets released from restrictions:
Satisfaction of program restrictions	2,117,820	(1,769,075)	(348,745)
Total Support, Revenue and Reclassifications	2,140,060	(1,530,596)	420,757	1,030,221
Expenses
Program Services:
Scholarships	166,971			166,971
Support of college education program	1,950,849			1,950,849
Management and general	119,353			119,353
Fundraising	81,321			81,321
Uncollected pledge write down	3,570			3,570
Total Expenses	2,322,064			2,322,064
Change in Net Assets	(182,004)	(1,530,596)	420,757	(1,291,843)
Net Assets, beginning of the year	558,901	4,958,424	3,553,028	9,070,353
Net Assets, End of Year	$376,897	$3,427,828	$3,973,785	$7,778,510

Statement of Financial Position At Dec. 31, 2009

Assets
Cash and equivalents	$2,617,977
Unconditional promises to give, net	132,254
Investments	4,868,160
Property and equipment, net	179,650
Total Assets	$7,798,041
Liabilities and Net Assets
Accounts payable	$19,531
Total Liabilities	19,531
Net Assets
Unrestricted	376,897
Temporarily restricted	3,427,828
Permanently restricted	3,973,785
Total Net Assets	7,778,510
Total Liabilities and Net Assets	$7,798,041