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Freedom Center

2007 Combining Operating Results


Nine Months Ended Sept. 30, 2007
GAAP-Combining Finanacial Statements
Current Temporarily Combined
Fund Restricted Financials
Earned Revenue 1,180,202 - 1,180,202
Net assets released from restrictions-adm 76,299 (76,299) -
Total Earned Revenue 1,256,501 (76,299) 1,180,202

Private Support Revenue 2,731,167 1,393,685 4,124,852


Net assets released from restrictions-base 300,242 (300,242) -
Total Private Revenues 3,031,409 1,093,443 4,124,852

IFCA Revenue 1,092,775 - 1,092,775


IFCA Expenses (388,440) - (388,440)
IFCA , net 704,335 - 704,335

Government-
Federal 1,087,000 - 1,087,000
State of Ohio 1,000,000 - 1,000,000
City of Cincinnati 800,000 - 800,000
Total Government 2,887,000 - 2,887,000

Miscellaneous Revenue 109,907 - 109,907

Net assets released from restrictions-cc 227,249 (227,249) - (A)

Total Revenues 8,216,401 789,895 9,006,296

Investment Income (1,089,488) - (1,089,488)


Interest Expense 1,884,841 - 1,884,841
Net Interest Expense 795,353 - 795,353

Base Expenses
Wages & Benefits 3,057,962 - 3,057,962
Other Operating Expenses 3,071,520 - 3,071,520
Changing Exhibits 317,600 - 317,600
Total Base Operations 6,447,082 - 6,447,082
Base Operations Surplus (Deficit) 973,966 789,895 1,763,861

Other Program Revenues


Net assets released from rest.-other prog. 388,801 (388,801) -

Other Program Expenses


Wages & Benefits-Other Programs 180,592 - 180,592
Other Operating Expenses-Other Programs 443,925 - 443,925
Total Other Programs Expenses 624,517 - 624,517
Other Programs,net (235,716) (388,801) (624,517)
Total Cash Surplus (deficit) 738,250 401,094 1,139,344

Non Cash
In-Kind Revenues 33,675 - 33,675 (A)
In-Kind Expenses (33,675) - (33,675) (A)
Bad Debt (Expense) Income (5,000) - (5,000)
Time (Discounts) Income 105,000 - 105,000 (A)
Unrealized Gains (Losses)-Invest. & Swaps (478,654) - (478,654) (A)
Total Non Cash Income (378,654) - (378,654)
Change in Net Assets 359,596 401,094 760,690
Net Assets Beginning of the Year 76,404,351 1,248,275 77,652,626
Net Assets End of the Year 76,763,947 1,649,369 78,413,316

Combining Financial Statements-Sept. 30, 07-fin com-A.xls


Freedom Center
2007 Combining Operating Results
Nine Months Ended Sept. 30, 2007
Bank Covenant Earnings
Surplus Per Above 359,596
Add Backs (Reductions)--Covenant Defined
Transfer related to Capital Campaign (227,249) (A)
In-Kind Revenue (33,675) (A)
In-Kind Expenses 33,675 (A)
Time Discount (105,000)
Unrealized Gains on Investments & Swaps 478,654 (A)
Total Net Add Backs 146,405
Bank Covenant Earnings-Nine Months Ended 506,001
Year End Requirement 796,000
4th Quarter Requirement 289,999

Restricted Contributions As of Sept, 2007 12/31/06 New 2007 09/30/07


Related to Capital Campaign- Balance Contrib. (Release) Balance
UPS--general education costs 93,500 - (93,500) -
Knowledgeworks-educational 402,288 - (47,500) 354,788
Cisco/3M--Beacon of Freedom 20,729 - (20,729) -
Verizon-Digital Divide 100,000 - - 100,000
Bachmann-scholarships 20,392 - (3,000) 17,392
Coca Cola 62,520 - (62,520) -
Total Capital Campaign Related 699,429 - (227,249) 472,180
Related to General/School Admissions
Banc One-School Program 7,468 - (7,468) -
Lindner School Programs 38,831 - (38,831) -
Target-Admissions - 15,000 (15,000) -
John & Francie Pepper-Freedom Fest Day - 15,000 (15,000) -
Total General/School Admissions 46,299 30,000 (76,299) -
Related to Base Operations
Lindner School Programs-Transportation/Fees 28,993 - (28,993) -
Xerox-Underground Railroad Conference 50,000 - (50,000) -
Anne Garber-Teacher Workshop 30,000 - (30,000) -
HP-Teacher Institute 50,000 - (50,000) -
Links-Docents 5,000 - (5,000) -
Thomas Emory Memorial Fd.-Audio Tours 26,257 - (26,257) -
Bahmann Foundation-Audio Tours-3 years 71,257 - (33,104) 38,153
Interbrand-Join the Journey Sculpture 5,000 - (5,000) -
Todd Sebastian-Join the Journey Sculpture 1,000 - (1,000) -
John & Francie Pepper-Docent Trip - 23,888 (23,888) -
John & Francie Pepper-7 Habits - 7,000 (7,000) -
Fifth Third Foundation-West Point Choir - 10,000 (10,000) -
George & Betty Schaeffer-West Point Choir - 15,000 (15,000) -
Time Warner-Teacher Institute - 15,000 (15,000) -
Knowledgeworks-Apple/educational project - 15,000 - 15,000
Total Base Operations 267,507 85,888 (300,242) 53,153
Related to Other Programs
Pepsi Heroes-cover 2007 expenses 100,000 - (100,000) -
eBay-Community Engagement 135,040 - (135,040) -
eBay-Community Engagement - 250,000 (79,880) 170,120
UBS-Smart Program - 400,000 (46,084) 353,916
Coca Cola-Internship - 250,000 - 250,000
The Anschultz Fd.-Contemporary Conference - 100,000 - 100,000
The Nathan Cummings Foundation - 75,000 - 75,000
American Express-Ohio Tourism - 150,000 - 150,000
General Mills-Distance Learning - 25,000 - 25,000
State of Ohio Tourism - 27,797 (27,797) -
Total Other Programs 235,040 1,277,797 (388,801) 1,124,036
Restricted Contributions--12/31/06 & 9/30/07 1,248,275 1,393,685 (992,591) 1,649,369

Combining Financial Statements-Sept. 30, 07-fin com-A.xls


Combining Financial Statements-Sept. 30, 07-fin com-A.xls
Combining Financial Statements-Sept. 30, 07-fin com-A.xls