Audit Report FY 24 Development

Summary

The Allendale Association's financial statements for the year ended June 30, 2024, have been audited and presented in accordance with accounting principles generally accepted in the United States of America. The statements include a balance sheet, statement of activities, statement of functional expenses, and statement of cash flows. The association's net assets increased by $1,423,853 during the year, primarily due to an increase in revenue from government support and public contributions. The association's expenses totaled $30,154,442, with the majority being program services expenses. The financial statements also include notes on significant accounting policies, accounts receivable, pledges receivable, fair value measurements, property and equipment, investment in captive insurance company, line of credit, bonds and loans payable, interest rate swap agreements, pension and other post-employment benefit plans, defined contribution plan, leases, donor-restricted net assets, endowment, concentrations, and liquidity.

Details

Subject

Financial Statements

Summary

The Allendale Association's financial statements for the year ended June 30, 2024, have been audited and presented in accordance with accounting principles generally accepted in the United States of America. The statements include a balance sheet, statement of activities, statement of functional expenses, and statement of cash flows. The association's net assets increased by $1,423,853 during the year, primarily due to an increase in revenue from government support and public contributions. The association's expenses totaled $30,154,442, with the majority being program services expenses. The financial statements also include notes on significant accounting policies, accounts receivable, pledges receivable, fair value measurements, property and equipment, investment in captive insurance company, line of credit, bonds and loans payable, interest rate swap agreements, pension and other post-employment benefit plans, defined contribution plan, leases, donor-restricted net assets, endowment, concentrations, and liquidity.

Report Date

2025-02-19

Report Type

audit

Report Title

Allendale Association Financial Statements

Authoring Body

CliftonLarsonAllen LLP

Reporting Period

2024-07-01 to 2024-06-30