Foundation Financial Information

Below are the audited Statement of Activities and Statement of Financial Position for the year ending Dec. 31, 2010 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, 2010

Unrestricted		Temporarily Restricted	Permanently Restricted	Total
Support, Revenue and Reclassifications
Public support (includes in-kind gifts of $1,203)	$86,080	$331,362	$70,792	$488,234
Investment return	350	88,942	400,669	489,961
Net assets released from restrictions:
Satisfaction of program restrictions	1,333,745	(861,671)	(472,074)
Total Support, Revenue and Reclassifications	1,420,175	(441,367)	(613)	978,195
Expenses
Program Services:
Scholarships	151,364			151,364
Support of college education program	1,240,273			1,240,273
Management and general	114,841			114,841
Fundraising	71,135			71,135
Uncollected pledge write down	35,588			35,588
Total Expenses	1,613,201			1,613,201
Change in Net Assets	(193,026)	(441,367)	(613)	(635,006)
Net Assets, beginning of the year	376,897	3,427,828	3,973,785	7,778,510
Net Assets, End of Year	$183,871	$2,986,461	$3,973,172	$7,143,504

Statement of Financial Position At Dec. 31, 2010

Assets
Cash and equivalents	$1,829,717
Unconditional promises to give, net	40,316
Investments	5,100,438
Property and equipment, net	179,650
Total Assets	$7,150,121
Liabilities and Net Assets
Accounts payable	$6,617
Total Liabilities	$6,617
Net Assets
Unrestricted	183,871
Temporarily restricted	2,986,461
Permanently restricted	3,973,172
Total Net Assets	$7,143,504
Total Liabilities and Net Assets	$7,150,121