Combined Statement of Revenue and Expenses

Income Statement June 30, 2011

Revenue

Government $4,831,855

Corporations $2,168,874

Foundations $12,353,533

Individuals $822,011

Investment Return ($2,991,131)

Other

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Total Revenue $23,167,403

Expenses*

Program Services

School Creation $2,183,785

School Support $8,045,856

Teaching and Leadership Development $4,696,640

Policy Research & Innovation $987,759

Subtotal $15,914,040

Supporting Services

Management and general $1,392,855

Fundraising $687,099

Subtotal $2,079,954

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Total Expenses $17,993,994

Net Assets

Beginning of Year $31,321,536

Change in Net Assets $5,173,409

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End of Year $36,494,945

* In accordance with generally accepted accounting principles, New Visions records contributions as revenue in the year in which they are committed even if the funds are not received. Expenditures are recorded in the year in which they are incurred. For fiscal year ending June 30, 2009, New Visions incurred expenses, in excess of current year revenue, that related to contributions made and recorded in previous fiscal years.

To view this year's financial audit report, click here.