December 31, 2018 Financial Statements

WhyHunger, Inc.

FINANCIAL STATEMENTS

December 31, 2018 and 2017 ____

TABLE OF CONTENTS PAGE

INDEPENDENT AUDITOR'S REPORT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 FINANCIAL STATEMENTS:

STATEMENTS OF FINANCIAL POSITION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 STATEMENTS OF ACTIVITIES. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 STATEMENTS OF FUNCTIONAL EXPENSES. . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 STATEMENTS OF CASH FLOWS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 NOTES TO FINANCIAL STATEMENTS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

A PROFESSIONAL CORPORATION OF CERTIFIED PUBLIC ACCOUNTANTS

437 Madison Avenue, 23rd Floor New York, NY 10022 ? 212.962.4470

165 Orinoco Drive, Brightwaters, NY 11718 631.665.7040 ? Fax: 631.665.7014

15 South Bayles Avenue, Port Washington, NY 11050 516.883.5510 ? Fax: 516.767.7438



INDEPENDENT AUDITOR'S REPORT

To the Board of Directors WhyHunger, Inc.

We have audited the accompanying financial statements of WhyHunger, Inc., (a non-profit organization) which comprise the statements of financial position as of December 31, 2018 and 2017 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 audit 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.

An Independent Member of the BDO Alliance USA

To the Board of Directors WhyHunger, Inc. Page 2

Opinion

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of WhyHunger, Inc. as of December 31, 2018 and 2017 and the changes in its net assets and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.

Effect of Adopting New Accounting Standard

As discussed in Note 2, WhyHunger, Inc. adopted the provisions of Financial Accounting Standards Board Accounting Standards Update (ASU) 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities as of and for the year ended December 31, 2018. The requirements of ASU 2016-14 have been retrospectively applied to all periods presented. Our opinion is not modified with respect to this matter.

Brightwaters, New York April 11, 2019

WhyHunger, Inc.

STATEMENTS OF FINANCIAL POSITION

For the Years Ended December 31, 2018 and 2017 ____

ASSETS

2018

Current assets: Cash and cash equivalents Investments at fair value Contributions receivable, current Prepaid and other assets

Total current assets

$ 251,662 627,262

1,093,786 92,014

2,064,724

Long-term assets: Fixed assets, net Intangible assets, net Contributions receivable, long-term Total long-term assets Total assets

7,054 6,974 6,000 20,028 $ 2,084,752

LIABILITIES AND NET ASSETS

Liabilities: Accounts payable and other liabilities Grants payable Total current liabilities

$ 224,054 52,163 276,217

Net assets: Without donor restriction: Undesignated Designated by the Board for endowment Total without donor restriction

321,072 534,219 855,291

With donor restriction:

Purpose restricted

844,244

Time restricted for future periods

9,000

Perpetual in nature

100,000

Total with donor restriction

953,244

Total net assets

1,808,535

Total liabilities and net assets

$ 2,084,752

The accompanying notes are an integral

part of these financial statements

-3-

2017

$ 427,035 676,645 780,913 96,811

1,981,404

5,020 25,059 13,000 43,079 $ 2,024,483

$ 174,770 49,377

224,147

402,189 567,459 969,648

709,688 21,000 100,000 830,688 1,800,336 $ 2,024,483

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