Combined Statement of Revenue and Expenses

Income Statement June 30, 2009

Total Revenue        

Government                 $3,851,365

Corporations                $1,237,348                

Foundations                 $2,527,841

Individuals                   $619,354

Investment Return        ($2,046,349)

Other                              $11,624

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 Total                               $6,201,183

Total Expenses*     

Program Services             

School Support               $5,836,216

Teaching and Learning     $5,655,359

Leadership Development   $6,498,852

Subtotal                         $17,990,427
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Total Expenses                 $19,995,672

* 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.