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HomeMy WebLinkAbout06 Hope Through Housing FoundationI� F'ECEIVED) CITY CL i�v VISUAL AND PERFORMING ARTS -- -GRANT APPLICATION FORUJI FE6 14 AH 1: 47 City of San Bernardino -Fine Arts Commission I. ADDlicant/Orizanization Organization Name: Hope through Housing Foundation (HTHF, Hope) Address: 9421 Haven Ave. Rancho Cucamonga, CA 91730 Telephone Number: (909) 483 -2444 Tax Identification Number: 33- 0802554 Website: www.htlif.org Number of Years in Existence: 19 II. Contact Person Name: Ruby L. Foster Title: Senior Director of Fund Development Telephone Number: (909) 483 -2444 Cell Phone Number: ( III. Program Category Visual Arts IV. Period of Suaport Requested Starting: July 1, 2017 Through: May 31, 2018 Amount of Grant Requested: $15,000 Total Organizational Budget for current fiscal year: $3,596,545 Percent of total Organizational Budget Requested: Less than 1% V. Proiect Description/ Need Statement As Hope through Housing Foundation (HTHF) expands our footprint in the city and county of San Bernardino, the goal is to further build community connectedness and enhance the educational opportunities for both the residents and the local community. Hope through Housing Foundation is seeking funding to create a mural on a wall of the newly developed community known as Valencia Vista. Valencia Vista is the first phase of a community development plan to rebuild the area previously known as Waterman Gardens, now referred to as Arrowhead Grove. The funding for this project will allow Hope to continue to build our partnership with California State University, San Bernardino (CSUSB). Working closely with the Fine Arts Department of CSUSB, both instructors and students will have an opportunity to teach, share, and work with the residents of Valencia Vista. The artists will incorporate some of the local history and feedback from the residents in creating the mural. This partnership will also include an opportunity for students to teach classes on site at the Valencia Vista Community Center. Therefore, HTHF is requesting $15,000 in support of this arts collaboration, which will help us deliver quality arts programs to low- income and disadvantaged residents over the course of the next year. Hope through Housing Foundation Page 1 NEEDS: Like many neighborhoods struggling with poverty and foreclosures, investment in new development, housing, and infrastructure in the area has been insufficient. In turn, job creation, new business starts, and retention of current businesses are almost non - existent. Household income remains marginal and poverty rates high (47 %) due to unskilled, part- time, and low paying jobs. Low educational attainment levels are one contributing factor: only 26% of adults in the Arrowhead Grove community have a high school diploma /GED or workforce training, 5% have an Associate degree, and 3.1% have a Bachelor's degree. School achievement is largely impacted by the economic and social challenges of the area, with students generally experiencing low educational attainment levels. In San Bernardino, 90% of students districtwide are classified as "economically disadvantaged" (CA Assessment of Student Performance and Progress (CAASPP), 2015). According to the CAASPP, districtwide, only 17% of students for math and 27% for English language proficiency met or exceeded state standards in 2015. The County has the second highest gang population in the U.S., another challenge to the safety of local schools (FBI National Gang Threat Assessment, 2011). Arrowhead Grove has also been identified as a hotspot of criminal activity. In 2015, there were 90 violent crimes per 1,000 residents, a 37% increase over a five -yeas- period and one of the highest crime rates in the state. Resident outreach conducted by the Institute for Public Strategies and the San Bernardino Police Department exposed what residents perceived to be the major crime drivers in their community: 1) public use of drugs /alcohol; 2) dilapidated homes; 3) theft in the neighborhood; 4) prostitution; and 5) street drug dealing. Furthermore, interviews with officials and community partners have established that crime in this area hinges around poverty and joblessness. The goal of this project is to not only bring a beautiful one of a kind piece of artwork to the community but also to expose the residents to a medium they may have never seen before. With the previously mentioned struggles of the local community, art has not been a priority. This project will not only beautify an existing edifice but it will also strengthen the connectedness we are developing, daily. With local school systems focusing more on STEAM Education (Science, Technology, Engineering, Arts, Mathematics), bringing art on site to a local apartment community will allow for education to continue in the home. VI. Estimated Number of Persons Expected to Benefit from This Program a) Number of persons paid by attendance: 0 b) Number of persons admitted by no fee: 211 (residents) 75 or more (local residents) c) Number of classes and /or performances scheduled /length of display: This piece is meant to be a long- lasting piece of archival art. Designed to last the test of time and impact the residents that live there for years to come. d) Total attending classes /performances /displays /exhibits: Hope through Housing Foundation Page 2 VII. Intended Results Target Group(s) Children (Grades K -8) Children in High School Adults 18+ Time Frame Quarterly engagement Quarterly engagement Quarterly Supplies & Materials activities conducted by the activities conducted by engagement Hope through Housing the Hope through activities Services Coordinator and Housing Services conducted by Equipment representatives from the Coordinator and the Hope Travel Fine arts Department of representatives from the through Housing Rentals or Leases CSUSB (8/1/2018 - 5/1/18) Fine arts Department of Services Fees and Other Design, installation, CSUSB (8/1/2018- Coordinator and Expenses insurance coverage, 5/1/18) representatives expenses for from the Fine comnumity arts Department engagement of CSUSB activities (8/1/2018 - TOTALS OF $77,760 5/1/18) Number of • 4 class opportunities 0 4 class opportunities 4 class performances, . Permanent Exhibit • Permanent Exhibit opportunities classes, exhibits, etc. 0 Permanent Exhibit Anticipated 47 residents 33 residents 109 residents maximum audience, 25 local residents 25 local residents 25 local participants, etc. residents VIII. Project Budget Hope through Housing Foundation Page 3 Item Description Ex enses Amount Requested Salary /Wages On -site staff salary $45,760 $6,864 Supplies & Materials Ceramic tiles, $25,000 $7,436 sculpture materials, clay, and glaze Equipment Travel Rentals or Leases Fees and Other Design, installation, $7,000 $700 Expenses insurance coverage, expenses for comnumity engagement activities TOTALS OF $77,760 $15,000 EXPENSES, AND AMOUNT REQUESTED Hope through Housing Foundation Page 3 IX. Income of Organization Funding Source Amount Contributed to Project The Community Foundation $2,500 (Ask) ArtsPlace $450,000 (Ask) Total Amount of Funding 452,500 X. Future Objectives The Valencia Vista affordable housing site is Phase 1 of a multi -phase neighborhood revitalization project. With this project and the strong relationship being cultivated with CSUSB, Hope through Housing would like to continue to partner with the Fine Arts Department. The instructors and students would be able to carry on an art theme throughout each phase of development and incorporate the thoughts and feelings of the communities as residents move on site. This would be a multi -year project and would engage the neighborhood as development continues. XI. Brief History/ Background of Organization Hope through Housing Foundation (HTHF) is an independent nonprofit organization whose mission is to break the cycle of generational poverty by advocating for policies and implementing programs that empower individuals and change communities. Working in affordable housing communities and regions throughout California, Arkansas, Florida, and Texas, we offer services, expertise, and coordination to inspire Hope, present Opportunity, generate Prosperity, and catalyze Empowerment for individuals of all generations. Believing that both people and place matter in achieving community-wide well- being, HTHF concentrates direct services, partnerships, and other resources right in the neighborhoods that need them most. At the individual level, our goal is to see all people thrive— whether that means helping children do well in school, families improve their financial situation, or seniors age with dignity in their own homes. These individual successes add up, influencing the community's quality of life and enabling real change in neighborhoods of poverty, crime, blight, and isolation. Besides direct service goals, HTHF maintains an unwavering commitment to serving as a collaborative platform for greater collective investment and impact in these neighborhoods. We help co- locate other local service providers at affordable housing sites, as well as share expertise with the regional and national sectors. Working with our site residents, community neighbors, provider partners, municipal agencies, and regional coalitions, HTHF has made partnership an integral part of our greater. vision: "Together, we transform lives and communities." Now, the agency is embarking on an ambitious journey with an even greater array of stakeholders to launch catalytic change around the former Waterman Gardens Public Housing Complex in Central San Bernardino, a neighborhood now known as Arrowhead Grove. Hope through Housing Foundation Page 4 XII. Organization Financials Attached 2015 Audited Financials CERTIFICATION: Project Officer: Title: Telephone Number: Cell Phone Number: Date: Email Address: Hope through Housing Foundation Page 5 HOPE through HOUSING FOUNDATION Board of Directors Name: Andrew "Andy" Wright Title: Chair of the Board Name: Armando J. Bucelo, Jr. Esq. Title: Board Director Name: James D. Cashion Title: Board Director Name: Gavin Michael Clingham Title: Board Director Name: Daniel R. Fauske Title: Board Director Name: Laura Kuhns Title: Board Director Name: Sebastiano "Seb" Sterpa Title: Board Director Name: Stephen G. Larson Title: Board Director Hope through Housing Foundation Page 6 Email address: Stephen.Larsongarentfox.eom Name: George Allan Kingston Title: Board Director Name: Dr. Joe Thigpen Title: Board Director Hope through Housing Foundation Page 7 Hope Through Housing Foundation Index Independent Auditor's Report Financial Statements Statement of Financial Position Statement of Activities and Changes in Net Assets Statement of Cash Flows Notes to Financial Statements Paqe 2 3 4 5 6 C 0 H N zgI EZNICI Independent Auditor's Report To the Board of Directors Hope Through Housing Foundation CohnRemick LLB' cohntePick.com We have audited the accompanying financial statements of Hope Through Housing Foundation, which comprise the statement of financial position as of December 31, 2015, and the related statements of activities and changes in net assets and cash flows for the year then ended, and the related notes to the financial statements. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Hope Through Housing Foundation as of December 31, 2015, and the changes in its net assets and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America. Sacramento, California September 13, 2016 2 Hope Through Housing Foundation Statement of Financial Position December 31, 2015 Assets Assets Cash Contributions receivable, net Related party receivables Total current assets Building Accumulated depreciation Total property and equipment Total assets Liabilities and Net Assets Liabilities Accounts payable Accrued expenses Due to affiliate Total current liabilities Long term liabilities Deferred grant revenue Total liabilities Net assets Unrestricted Temporarily restricted Total net assets Total liabilities and net assets See Notes to Financial Statements. 3 $ 286,131 147,596 282,825 716,552 497,058 (49,866) 447,192 $ 1,163,744 $ 238,698 51,062 2,628,956 2,918,716 5,000 2,923,716 (1,975,287) 215,315 (1,759,972) $ 1,163,744 Hope Through Housing Foundation Statement of Activities and Changes in Net Assets Year Ended December 31, 2015 See Notes to Financial Statements. 4 Temporarily Unrestricted restricted Total Public support, grants and revenue Contributions $ 361,644 $ 215,315 $ 576,959 Contributions from related affiliates 1,090,640 - 1,090,640 Service income 1,219,658 - 1,219,658 Grants - federal 147,995 - 147,995 Grants - non - federal 274,126 - 274,126 In -kind contribution 220,766 - 220,766 Other income 217,773 - 217,773 Interest income 344 - 344 Net assets released from restriction 169,857 (169,857) - Total public support, grants and revenue 3,702,803 45,458 3,748,261 Expenses Program service expenses Compensation and related benefits 1,431,059 - 1,431,059 Contracted program services 738,750 - 738,750 Events and activities 370,165 - 370,165 Health and nutrition 109,990 - 109,990 Communications 77,825 - 77,825 Supplies and equipment 62,700 - 62,700 Utilities 8,996 - 8,996 Transportation 40,975 - 40,975 Training and education 3,953 - 3,953 Rent 160,799 - 160,799 Insurance 37,368 - 37,368 Miscellaneous 47,373 - 47,373 Total program service expenses 3,089,953 - 3,089,953 General and administrative expenses General and administrative overhead allocation 1,090,640 - 1,090,640 Total general and administrative expenses 1,090,640 - 1,090,640 Total expenses 4,180,593 - 4,180,593 Changes in net assets $ (477,790) $ 45,458 $ (432,332) Unrestricted and temporarily restricted net assets (deficit), beginning of year $ (1,497,497) $ 169,857 $ (1,327,640) (Increase) in unrestricted and temporarily restricted net assets (477,790) 45,458 (432,332) Unrestricted and temporarily restricted net assets (deficit), end of year $ (1,975,287) $ 215,315 $ (1,759,972) See Notes to Financial Statements. 4 Hope Through Housing Foundation Statement of Cash Flows Year Ended December 31, 2015 Cash flows from operating activities Change in unrestricted and temporarily restricted net assets Adjustments to reconcile change in unrestricted and temporarily restricted net assets to net cash used in operating activities Depreciation (Gain) loss on disposal of property Decrease (increase) in assets Contributions receivable Related party receivables Increase (decrease) in liabilities Accounts payable Accrued expenses Due to affiliate Deferred grant revenue Net cash used in operating activities Cash, beginning Cash, ending See Notes to Financial Statements. 5 $ (432,332) 11,507 9,593 40,737 2,900 203,995 (15,361) 130,441 5,000 (43,520) 329,651 $ 286,131 Hope Through Housing Foundation Notes to Financial Statements December 31, 2015 Note 1 - Organization and nature of operations Hope Through Housing Foundation (the "Organization ") was incorporated in 1998 under the provisions of the Nonprofit Public Benefit Corporation law as a nonprofit 501(c)(3) organization. The Organization's mission is to enhance the quality of life of the residents of National Community Renaissance of California ( "NCRC ") and National Community Renaissance Development Corporation's ( "NCRDC ") apartment communities. The Organization organizes and delivers social and human services to residents of properties owned and /or managed by NCRC and NCRDC or residents who live in communities adjacent to these properties. Services delivered include services for older adults, after school activities for K -12 students, employment assistance for youths and adults, preschool programs to age - eligible children and health education and wellness programs for residents of all ages. These services directly serve or indirectly support more than 10,000 people residing in or around NCRC and NCRDC properties. Hope Through Housing anticipated significant revenue sources, principally grant sources and fundraising activities that failed to meet their projected levels. These reductions in revenues from contributions and both federal and non - federal grant funding were related to economic conditions generally and preschool revenue that was discontinued. The affiliated nonprofits, NCRC and NCRDC, for whom Hope Through Housing principally exists to provide social programs in housing communities affiliated with those organizations, provided cash sufficient to meet the gap created by the unanticipated revenue shortfall. Hope Through Housing will continue to be financially dependent upon these two organizations until such time that it will be able to meet its revenue goals sufficient to cover its operating expenses. Note 2 - Summary of significant accounting policies Financial statement presentation The Organization is required to report information regarding its financial position and activities according to three classes of net assets: unrestricted net assets, temporarily restricted net assets and permanently restricted net assets. Accounting method The financial statements have been prepared on the accrual basis of accounting. Accordingly, income is recognized as earned and expenses as incurred, regardless of the timing of payments. Contributions receivable Contributions receivable are reported net of an allowance for doubtful accounts. Management's estimate of the allowance is based on historical collection experience and a review of the current status of contributions receivable. It is reasonably possible that management's estimate of the allowance will change. As of December 31, 2015, the allowance for doubtful accounts is $0. Property and equipment Property and equipment is recorded at cost. Expenditures for maintenance and repairs are expensed as incurred, while major renewals and betterments are capitalized. Upon disposal of depreciable property, the appropriate property accounts are reduced by the related costs and accumulated depreciation. The resulting gains and losses are reflected in the statement of activities and changes in net assets. Depreciation is computed using the straight -line method. The estimated useful life for the building is 40 years. 10^1 Hope Through Housing Foundation Notes to Financial Statements December 31, 2015 Impairment of long -lived assets The Organization reviews its long -lived assets for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. When recovery is reviewed, if the undiscounted cash flows estimated to be generated by the asset are less than its carrying amount, management compares the carrying amount of the asset to its fair value in order to determine whether an impairment loss has occurred. The amount of the impairment loss is equal to the excess of the asset's carrying value over its estimated fair value. No impairment loss has been recognized during the year ended December 31, 2015. Contributions Contributions are recognized as revenue when an unconditional promise to give is received by the Organization. Contributions accompanied by donor restrictions are initially reported as increases in temporarily restricted net assets. When a restriction expires (generally, as payments are made to fulfill the donor - imposed purpose of the contribution), temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities and changes in net assets as net assets released from restrictions. Service income Service income is recognized as revenue when the services are performed. Grants revenue Grants received from governments, agencies and others, which are conditioned upon the Organization incurring certain qualifying costs or meeting other conditions, are recognized as revenue when the qualifying costs are incurred and the possibilities of not meeting the conditions are remote. Special events Revenue from special events is recorded in the year in which the events occur. Amounts received prior to the date the events occur are recorded as deferred special events revenue. Functional allocation of expenses The costs of providing the various programs and activities have been summarized on a functional basis in the statement of activities and changes in net assets. Directly identifiable expenses are charged to program service expense as they are incurred. Expenses related to more than one function are charged to program service expense based on systematic methods of allocation. Income taxes The Organization has applied for and received a determination letter from the Internal Revenue Service ( "IRS ") to be treated as a tax exempt entity pursuant to Section 501(c)(3) of the Internal Revenue Code and did not have any unrelated business income for the year ended December 31, 2015. Due to its tax exempt status, the Organization is not subject to income taxes. The Organization is required to file tax returns with the IRS and other taxing authorities. Accordingly, these financial statements do not reflect a provision for income taxes and the Organization has no other tax positions which must be considered for disclosure. Income tax returns filed by the Partnership are subject to examination by the Internal Revenue Service for a period of three years. While no income tax returns are currently being examined by the Internal Revenue Service, tax years since 2012 are subject to review by the IRS. Use of estimates The preparation of financial statements in accordance with generally accepted accounting standards in the United States of America requires management to make estimates and 7 Hope Through Housing Foundation Notes to Financial Statements December 31, 2015 assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Note 3 - Related party transactions Related party receivables Amounts due from affiliates represent amounts paid by the Organization on behalf of affiliates. As of December 31, 2015, $282,825 is outstanding and is included in related party receivables on the statement of financial position. Due to affiliate Amounts due to an affiliate represent operating expenses of the Organization which were paid by NCRC under an expense reimbursement arrangement. These advances are noninterest bearing and due on demand. As of December 31, 2015, $2,628,956 remains due. Note 4 - Concentration of credit risk The Organization maintains its cash balances in several accounts at various banks. At times, these balances may exceed the federal insurance limits; however, the Organization has not experienced any losses with respect to its bank balances in excess of government provided insurance. At December 31, 2015, no cash balances exceed the federal insurance limits. Note 5 - General and administrative overhead allocation NCRC and NCRDC provide and fund management, administrative and general fundraising services of the Organization. For these services, NCRC and NCRDC charge the Organization 12.42% of its overhead costs, which are subsequently contributed to the Organization by NCRC and NCRDC. Note 6 - Service income The Organization receives Social Program and Service Agreement fees for providing social services to affordable housing projects which are owned and managed by affiliates of the Organization. During the year ended December 31, 2015, fees of $1,219,658 were earned and are included in service income on the statement of activities and changes in net assets. Note 7 - Federal grants The Organization received a federal grant in the amount of $750,000 from the U.S. Department of Education, passed through from the California Department of Education. During the year ended December 31, 2015, $60,459 of grant income was received by the Organization and is included in grants - federal on the statement of activities and changes in net assets. The grant funds were used for funding of before and after school programs in the Rialto Unified School District. The grant expired on December 31, 2015. As of December 31, 2015, the grant has been fully expended. The Organization received a federal grant in the amount of $80,783 from the U.S. Department of Housing and Urban Development ( "HUD "). During the year ended December 31, 2015, $27,950 of grant income was received by the Organization and is included in grants - federal on the statement of activities and changes in net assets. The grant funds were used to pay for a service coordinator for Our Way project. As of December 31, 2015, the grant has been fully expended. 0 Hope Through Housing Foundation Notes to Financial Statements December 31, 2015 The Organization received a federal grant in the amount of $59,586 from HUD. During the year ended December 31, 2015, $59,586 of grant income was received by the Organization and is included in grants - federal on the statement of activities and changes in net assets. The grant funds were used to pay for a service coordinator for the Tres Lomas project. As of December 31, 2015, the grant has been fully expended. Note 8 - Retirement plan An affiliate maintains a Voluntary 401(k) Retirement Plan covering substantially all full -time employees of the Organization. Participants are immediately vested in their contribution and the Company's special matching contribution plus earnings thereon. Vesting in the remainder of the accounts is based on years of service. A year of service is given for each Plan year in which a participant performs 1,000 or more hours of service. After two years of service, a participant becomes 20% vested. Each service year thereafter will increase the participant's vesting by 20 %, with 100% vesting after six years. Discretionary contributions are determined by management and are allocated to all eligible employees based upon compensation. For the year ended December 31, 2015, $13,440 was contributed by the Organization to the retirement plan. Note 9 - In -kind contribution In addition to in -kind donations, the Organization leases a portion of NCRC's facilities at no charge. This amount is recognized as an in -kind contribution from NCRC and corresponding. rent expense in the amount of $160,799 in the statement of activities for the year ended December 31, 2015. This amount is recorded at fair market value. Note 10 - Lease income The Organization sub - leases a facility to the County of San Bernardino, the Department of Real Estate (North) under an operating lease expiring March 31, 2018. Rental income is $3,022 per month with 2.5% annual increases. The Organization sub - leases a facility to the County of San Bernardino, the Department of Real Estate under an operating lease expiring November 30, 2018. Rental income is $3,225 per month with 3% annual increases. The Organization sub - leases a facility to Quality Children's Services under an operating lease expiring August 31, 2018. Rental income is $1,739 per month with 3% annual increases. The Organization sub - leases a facility to Quality Children's Services under an operating lease expiring December 31, 2016. Rental income is $2,900 per month with annual adjustments, as defined in the lease agreement. The Organization sub - leases a facility to Metropolitan Area Advisory Committee - Westlake under an operating lease expiring September 1, 2018. Rental income is $1,131 per month with annual adjustments, as defined in the lease agreement. For the year ended December 31, 2015 the Organization earned sublease income of $148,607 which is included in other income in the statement of activities and changes in net assets. 9 Hope Through Housing Foundation Notes to Financial Statements December 31, 2015 The future minimum rental receipts for each of the next three years subsequent to December 31, 2015 are as follows: 2016 $ 149,087 2017 117,286 2018 76,271 Note 11 -Service agreement The Organization entered into a service agreement with Los Angeles Universal Preschool ( "LAUP ") to operate and provide preschool activities to age - eligible children commencing on June 1, 2010 through May 31, 2020. LAUP will provide funding based on $429 per child per month. For the year ended December 31, 2015, $68,966 was received under this agreement and is included in other income on the statement of activities and changes in net assets. Note 12 - Temporarily restricted net assets Temporarily restricted net assets consist of the following at December 31, 2015: Colonies Event $ 29,806 Union Pacific Grant (UPF3) 969 Union Pacific Grant (UPF4) 5,000 JP Morgan Chase Economic Mobility 88,348 Kaiser Hospital 1,659 Loma Linda Hospital 25,000 Bank Of America 5,000 ENPE Grant 1,235 Ahmanson (FOC8) 18,177 Walmart (WMT2, SM2) 621 Wells Fargo Economic Mobility Waterman Gardens 25,000 Arbonne Grant 2,000 US Bank Economic Mobility 5,000 Itzel Farias Scholarship 5,000 WalmartTS1, CC1, JP1 2,500 $ 215,315 Note 13 - Subsequent events Management evaluated the activity of the Organization through September 13, 2016, the date the financial statements were available to be issued, and concluded that no subsequent events have occurred that would require recognition in the financial statements or disclosure in the notes to financial statements. 10 COHNF REZNICK ACCOUNTING • TAX • ADVISORY c m n o " w � O M n N O C iy U � m v Y 0 > E - 17i0 > L) `" x t U _ D ^ C tp m CT Z O O F Q7 O • J Z O t O W CL O x 111 Zi 01 i`t� O w.