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Fiscal Year 1999 - For the period August 1, 1998 through June 30, 1999 Independent Auditors Report

August 18, 1999 To the Board of Directors Sustainable Harvest International Portsmouth, New Hampshire We have audited the accompanying statement of financial position of Sustainable Harvest International as of June 30, 1999, and the related statements of activities and changes in net assets, functional expenses and cash flows for the eleven-month period then ended. These financial statements are the responsibility of the Organizations management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. 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 includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Sustainable Harvest International as of July 30, 1999, and the results of its operations and its cash flows for the eleven-month period then ended in conformity with generally accepted accounting principles. Cummings, Lamont, and McNamee, P.A. Certified Public Accountants

SUSTAINABLE HARVEST INTERNATIONAL Audited Financial Report

STATEMENT OF FINANCIAL POSITION June 30, 1999


CURRENT ASSETS: Cash and cash equivalents, (1) Property and equipment, net of accumulated depreciation of $2,033 in 1998 Total Assets CURRENT LIABILITIES: Accounts payable Accrued payroll taxes Total Current Liabilities NET ASSETS: Unrestricted TOTAL LIABILITIES AND NET ASSETS: $52,581 $4,223 $56,804 $2,436 $798 $3,234 $53,570 $56,804

STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS For the eleven-month period ended June 30, 1999
REVENUES, GAINS AND OTHER SUPPORT Contributions, (2,3) Fund-raising events Other revenues Total Revenues, Gains and Other Support EXPENSES Total Program Expenses Management & general Fundraising Total Supporting Services Total Expenses CHANGE IN ASSETS NET ASSETS, BEGINNING OF YEAR NET ASSETS, END OF YEAR Unrestricted $94,635 $18,115 $4,606 $117,356 Restricted $53,665 $53,665 Total $148,300 $18,115 $4,606 $171,021

$108,011 $20,633 $13,541 $34,174 $142,185

$108,011 $20,633 $13,541 $34,174 $142,185 $28,836 $24,734 $53,570

STATEMENT OF FUNCTIONAL EXPENSES For the eleven-month period ended June 30, 1999
Program Expenses 19,880 1,621 1,562 21,310 42,640 11,067 473 287 1,164 1,119 963 458 44 Management 8,305 224 670 947 120 3,493 559 1,924 44 Fundraising 6,827 474 558 473 148 1,503 559 963 458 Total 35,012 2,319 2,790 21,310 42,640 11,067 1,893 555 1,503 4,657 2,237 3,850 916 88

Salaries Benefits Payroll Taxes Field Staff Field Supplies Field Travel Depreciation Dues and Sub. Annual Dinner Prof. Fees,(3) Newsletter Rent and Util.,(2) Rent - equipment Repairs and Maint.

Office Supplies Postage Printing Publications Permits and Lic. Telephone Other Expenses Total notes:

571 1,267 1,137 231 2,217 108,011

343 223 568 116 1,858 339 900 20,633

228 143 568 116 523 13,541

1,142 1,633 2,273 463 1,858 3,079 900 142,185

1. There were no cash equivalents at June 30, 1999. 2. The Organization uses its office space at no charge. The estimated value of this donated space and the associated utilities is $350 per month. The value of this contribution has been included in income, with an offsetting expense for rent and utilities. 3. The audit of the Organizations July 31, 1998 financial statements was done at no charge to the Organization. The value of these professional services was $4,500 and is included with income from contributions and expenses for professional fees.