Audited Financial Statement Balance Sheet as of December 31, 2023
REVENUE RECEIVED
REVENUE
REVENUE
RECEIVED TO BE EXPENDED
ALLOWABLE TO BE EXPENDED
SOURCES
IN 2023
AND PRIOR
IN 2024
IN 2023
Service Contract Fees
$952,448
—
$952,448
REVENUE BY SOURCE
Foundations Corporations Government
261,117
183,465
77,652 2,755
2,755
— — — — — — —
—
—
Inividuals
11,537
11,537
Grant and Other Contributions
364,227
364,227
Events/Other
— —
— —
Registration Fees In-Kind Donations 2022 Carryover
Service Contract Fees 49.5% Grant & Other Contributions 18.9% In-Kind Donations 17.2% Foundations 13.6% Individuals 0.6% Corporations 0.1%
330,718 488,147
330,718 225,474
262,673
TOTAL FUNDING
$2,410,949
$446,138
$1,964,811
EXPENSES
Salaries & Benefits
$1,579,802
Office Supplies
32,299 155,160 157,088
Travel
Program Related
Advertising & Marketing
2,801
Consulting
—
Service Provider Contracts Subscriptions & Dues Training & Recruitment
90,735 29,747
17,156
Miscellaneous Licenses & Fees In-Kind Donations
38,697
6,137
330,718
TOTAL EXPENSES
$2,440,339
Net Assets January 1, 2023
$380,380
Change in Net Assets
(517,537)
Net Assets December 31, 2023
$(137,157)
Operation Pathways is audited in accordance with accounting principles generally accepted in the United States of America (GAAP). The audit for the year ended December 31, 2023 was performed by CohnReznick LLP. The audit concluded our financial statements represent fairly, in all material respects, the financial position of Operation Pathways as of December 31, 2023, and the results of operations and its cash flow for the year then ended.
OPERATION PATHWAYS, INC. | FISCAL YEAR 2023 ANNUAL REPORT 7
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