Financial Highlights

Assets

CURRENT ASSETS
Cash and cash equivalents 8,632,153
Accounts receivable 64,906
Refunds receivable 42,430
Pledges receivable 900,000
Investments 150,000
Inventory 35,525
Prepaid expenses 264,475
Other assets 66,849
Total current assets 10,156,338
PROPERTY AND EQUIPMENT - net 10,005,068
OTHER ASSETS
Deposits 77,603
Goodwill 4,231,063
Total other assets 4,308,666
Total assets 24,470,072

Liabilities and Net Assets

CURRENT LIABILITIES
Accounts payable and accrued expenses 2,940,174
Note payable - current portion 464,000
Deferred rent - current portion 20,036
Total current liabilities 3,424,210
OTHER LIABILITIES
Note payable 696,000
Deferred rent 370,480
Total other liabilities 1,066,480
COMMITMENTS 0
NET ASSETS
Unrestricted 19,043,788
Temporarily restricted 935,594
Total net assets 19,979,382
Total liabilities and net assets 24,470,072

Consolidated Statement of Activities

REVENUES AND SUPPORT Unrestricted Temporarily Restricted Total
Burning Man annual event 38,598,189 - 38,598,189
Contributions, gifts and grants 664,090 6,777,006 7,441,096
In-kind contributions 321,000 - 321,000
Other program revenue 458,515 - 458,515
Fundraising events - (net of direct expenses of $165,906) 160,122 - 160,122
Interest income 1,795 - 1,795
Other income 53,031 - 53,031
Subtotal 40,256,742 6,777,006 47,033,748
Net assets released from restrictions 5,929,790 -5,929,790 -
Total revenues and support 46,186,532 847,216 47,033,748
EXPENDITURES
Program expenses 31,395,183 - 31,395,183
Management and general 5,827,799 - 5,827,799
Fundraising 548,628 - 548,628
Total expenditures 37,771,610 - 37,771,610
CHANGE IN NET ASSETS 8,414,922 847,216 9,262,138
Net assets - beginning of year 10,628,866 88,378 10,717,244
Net assets - end of year 19,043,788 935,594 19,979,382