Crossroads Urban Center

Crossroads Urban Center

FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR'S REPORT For the Years Ended December 31, 2017 and 2016

CROSSROADS URBAN CENTER

C O N T E N T S

Independent Auditor's Report ...................................................................................................... Financial Statements:

Statements of Financial Position ................................................................................................... Statements of Activities.................................................................................................................. Statements of Functional Expenses .............................................................................................. Statements of Cash Flows ............................................................................................................. Notes to the Financial Statements ...............................................................................................

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3 4 5-6 7 8-14

Independent Auditor's Report

To the Board of Directors

Crossroads Urban Center

We have audited the accompanying financial statements of Crossroads Urban Center (a nonprofit organization), which comprise the statements of financial position as of December 31, 2017 and 2016 and the related statements of activities, functional expenses, and cash flows for the years 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 audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free from 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 Crossroads Urban Center as of December 31, 2017 and 2016 and the changes in its net assets and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.

Salt Lake City, Utah August 2, 2018

CROSSROADS URBAN CENTER

Statements of Financial Position As of December 31, 2017 and 2016

ASSETS

CURRENT ASSETS Cash and cash equivalents Accounts and grants receivable Food inventories Prepaid expenses and deposits Total current assets

INVESTMENTS PROPERTY AND EQUIPMENT, NET

Total assets

LIABILITIES AND NET ASSETS

CURRENT LIABILITIES Accounts payable Accrued liabilities Total current liabilities Total liabilities

Net assets: Unrestricted Board designated Undesignated Temporarily restricted Total net assets

Total liabilities and net assets

2017

2016

$

599,538 $

643,902

11,628

9,470

60,504

49,479

19,314

15,103

690,984

717,954

937,736

799,877

235,805

160,783

$ 1,864,525 $ 1,678,614

$

1,338 $

28,997

85,198

67,250

86,536

96,247

86,536

96,247

984,731 768,779

24,479

1,777,989

869,868 688,898

23,601

1,582,367

$ 1,864,525 $ 1,678,614

The accompanying notes to the financial statements are an integral part of these financial statements.

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CROSSROADS URBAN CENTER

Statements of Activities For the Years Ended December 31, 2017 and 2016

Change in unrestricted net assets Support, revenues and gains Contributions and grants Thrift store sales Donated food, rent and other Special events (net of direct benefits to donors 2017: $2,839 2016: $4,344) Investment return Other income

Total support, revenues and gains

Satisfaction of restrictions

Total support, revenues, gains and satisfaction of restrictions

Expenses Food pantry and outreach Management and general Fundraising

Total expenses

Change in unrestricted net assets

Change in temporarily restricted net assets Contributions Net assets released from restrictions

Change in temporarily restricted net assets

Increase in net assets

Net assets at beginning of year

Net assets at end of year

2017

2016

840,284 $ 40,138

889,094

771,427 32,190

878,149

20,626 138,199

1,637

1,929,978

46,803

14,844 30,680 14,048

1,741,338

25,566

1,976,781

1,766,904

1,582,740 100,032 99,265

1,782,037

194,744

1,422,281 99,990

106,319

1,628,590

138,314

47,681 (46,803)

(25,566)

878

(25,566)

195,622

112,748

1,582,367

1,469,619

$ 1,777,989 $ 1,582,367

The accompanying notes to the financial statements are an integral part of these financial statements.

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CROSSROADS URBAN CENTER

Statement of Functional Expenses For the Year Ended December 31, 2017

Officer's compensation Other salaries and wages Food distributions Health insurance Supplies Donated rent Rent Emergency assistance Payroll taxes Depreciation Professional fees Program support Other benefits Utilities Repairs and maintenance Telephone Bank and credit card charges Vehicle expenses Postage Rubbish Insurance Water Event expenses Other

Total Expenses

Less expenses included with revenue

Total functional expenses statement of activities

Food pantry and outreach

$

43,657

393,238

810,987

55,356

43,277

45,000

6,400

59,101

37,795

17,795

12,282

5,815

11,641

6,683

8,640

3,159

-

2,258

1,980

1,419

1,846

1,480

-

12,932

1,582,740

-

$ 1,582,740

Management and general

$

13,461

52,324

-

7,741

241

9,000

-

-

5,466

2,703

1,866

533

2,167

804

844

506

10

-

301

187

155

120

-

1,604

100,032

-

$

100,032

Fundraising

T otal

$

13,461 $

70,579

34,526

480,088

-

810,987

5,658

68,755

21,986

65,504

6,000

60,000

-

6,400

-

59,101

3,920

47,181

2,027

22,525

1,399

15,547

242

6,590

1,548

15,356

536

8,023

563

10,047

336

4,001

-

10

-

2,258

226

2,507

124

1,730

116

2,117

80

1,680

4,123

4,123

5,234

19,770

102,104

1,784,879

(2,839)

(2,839)

$

99,265 $ 1,782,037

The accompanying notes to the financial statements are an integral part of these financial statements.

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