dag-financial-accountant 2010

8/7/2019 Dag-financial-accountant 2010

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DAG HAM.A SKJOLD, SCHOLARSHIP IFUND FOR JOURNALISTS

FENANCI:AL STATEMENTS AND I DEPENDENTACCOUNTANT'S EPORT

FOR THE YEARS E OED DECEMBER 31,2009'AND

DECEMBER 31, 2008

S. S. SCHWARTZ Co..CERT FlED PUBLIC ACCOU TANTS


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DAG HAMMARSKJOLD SCHOLARSHIP FUND FOR JOURNALISTSFINANCIAL STATEMENTS TABLE OF CONTENTSDECEMBER 31, 2009 AND 2008PREPARED FOR THE DISTRIBUTION

Accountant's Audit Re "Balaf'1C8 Sheet December 31. 2009 and 2008Statement 01 Revenue, Expenses and Fund BalancesFor the years ended December 31, 2009 and 2008Statement of eha es in Fund Balance December 21Statement of ExpensesFor th'- vears ended December 31 2009 and 2008elatsmHPI HI OOl'lallel'l6 -Notes te the Financi.1 Statements

2009 and 2008

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s. S. SCHWARTZ CO.CERTIFIEDPUBUC ACCOUl\IT.4.NTS

50 W. 9? Stre,et, Suite lOANew York, NY 1Q02560 8212&222-5402 1 2 ~ 2 2 2 0 1 3 8 (Pax)212-663-8010 (Alternate)SSCHWARTZCO@AOL"COM)

To he Board of DirectorsDag Ham marskjold 8chola.rsh ip Fund for J0 urn a'lfsts132 East 4 3 r ~ Street o. 457New York, NY 10017

We have audited he accompanying statement of assets, liabilities and fund balances - cash basis,o the Dag Hammarskjold Scho!larship Fund for Journalists (a on-profit organization) as oDecember 3 ,2009and: 2008. The mandai statements are the ~ s p o n s i b i l i y of the Organization'smanagement. Our responsibility is 0 express an opinion on the Inanciall :sta emen s based on ouraudit.We condu,cted our auai in accordance with generally accepted audi ing standa.rds. Thoses andards reqUire that we plan and perform the audi to obtain reaso able assurance at thefina cia! statements are free of marterial misstatements. An audit includes examining. on a estbasis evjdence supporting the amounts a d disclosures in ,he financial statements. An audit alsoinoludesassesslng the accounting principles used a d significan estimates made by management,as well as ,evaluating the Qverall financial sta ement presentation. We elieve tJat our auditprOVides a r,eas,onable basis for ,our opinion.As described in Note 2. the organization prepares its' financial statemen s on a basis of cashreceip 50 and disbursements. This basis is a comp ehensive basis of accounti go her hagenerally accepted accountingl principles.In our opinion, the financial statements referred to ab,ove prese t fairly ;n all aterial res pee s, theassets. liabiHties j and und bala ces of the Dag Hamm.arskjold Scholarship Fund or Jo'ur aUsts.aso December 311, .2009 and 2008, and i s opera ions basisThis statement Is prepared specificany for the board 0 directors and contains greater detail andnotes that are nOr required for s atements .at are for outside distribu ion. We have prepared ainane!al s a emen! for pUblic d'istribution, if requested.

J j j ~ A S. S. Schwartz Co.New York, NYJune 2,2010


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DAG HAMMARSKJOLD SCHOLARSHIP FUND FOR JOURNALISTSBALANCE SHEETDECEMBER _3, ,2009' AND 2008

2009 2008ASSETS

Current AssetsCash - Chase San

Investmell FundsMerril Lynch on ey Ma rket F,u ndMerrill' Lynch Cd's & Equivalent FundMerri'll Lunc Mutual Fund CEFlUITAccrued interest - Memorial Scholarship Fund

otal Investmen Funds

S 3 ,23351,536

222,84338,642

2,037315,058

$ 38,22912,521

252,00430,360

3,578298, 63

Total Curren Assets 349,291 336,692Other Assets

Rent deposit receivable 4,000Total Assets $ 349,291 S 340,692

LIABILITIES AND FUND BALANCESFund Balances

Generalt Fund 349,291 340,692

otal Uabilities and Fund Balance :$ 349,291 $ 340,'692

See accountan 's letter and accompanying notes to the financial statements. 2s s s wa Co.

Certifier:J Public Accountan


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DAG HAMMARSKJOLD SCHOLARSHIP FUND FOR JOURNALISTSSTATEMENT OF REVENUE, EXPENSES AND CHANGES IN FUNO BALANCEFOR THE YEARS ENOEO OECEMBER 31, 2009 AND DECEMBER 31, 2008

....

RavanuaCOfIIribullonsUS Oepatlmef1t of Stale -GrantInterest and dividendsLuncheonsMiKelianeous

S 108,5e79,1654,820

S '41,7277,8145,280

Total Revenue 122552 154,821

E_pensuProoram sel'V;ces FellOW$lllp & Per DiemAdmlniSlriltive e ~ p e n sesLuncheonFund raising

80.81614,34319,3406,683

83.1l&e16.860" ...6.338

Total E_pan.e. 121.382 132 130Increase (Decrene, in Revenue over E ~ p a n s a s - Operations 1.l70 22691Other Rlvenue.Increase (decrease) in value o l l n ~ s t m e n t IUnds (13.827) (27,466)lncreul (Decrease) in Revenue ovar Expenses (12,657) (4.795)Fund Balance - Beginning of Vl l r 340,692 345487Prior year Adjustments

Investment Income adjusted to mali


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DAG HAMMARSKJOLD SCHOLARSHIP FUND FOR JOURNALISTSSTATEMENT OF CHANGES IN FUND BALANCEFOR THE YEARS ENDED DECEMBER 31, 2009 AND DECEMBER 31. 2008

YEARS ENDING ""OPERATING ACTMTIESNel Revenue over Expenses S I 170 SAdJUSlmenl!l 10 recorw;iIe Net Income10 nel cash provided tty operations(Iocrease) Decrease in money market account (390151(Iocrease) & decrease 111 Cd's & equIValenl 29160(Increase) decrease mutual fund CEF/U'T {82821Accl\Jed interest ".,Net cash provided by OpelOlting Activities (15 ~ 2 5 1 INVESTING ACTIVITIESPl'l'!paol Renl depo$


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GAG HAMMARS JOLD SCHOLARSHIP FUND FOR JOUR ALiSTSSTATEMENT OF EXPENSESFOR THE YEARS ENDED DECEMBER 31, 2009 AND DECEMBER 31 t 2008

2009 2008Program ServicesAccommodations $ 34,415 $ 31,778

Accounting 750 700Administration 8,250 7,500Courier 253 495Development consultan 1,450 6,000Insurance 831 871Gifts and gratLllties 109,Mentor 3,200 5,000Per diem cos s (see notes) 9,408 19,225Phone system 317 400Supplies 386 281Travel (see note) 5, 97 6.389Video 375WebSi e 4,391 4,230Welcome reception 1,184 1,097

TOTAL FELLOWSHIP EXPENSES S 80,816 $ 83,966ADMINiStRATIVE EXPENSES

Accoun ing and ax preparation S 550 $ 500Administration 7,425 6. 50Ban Charges 287 ~ O Commission 1,500Computer support 1,163Courier 354Dev eI0pmell co nsuItan 435 1,800

axes ami Iloenses 110 10Postage, Fed Ex, DHL 432 8.28Printing 684 1,745SuppUesJadmlnistra ion support 1,355 1,616

elephone 1,300 1,398Various other expenses 248 506TOTAL ADMINISTRATrVE EXPE ses $ 14,343 $ 16,860

See accountant's :Ietter and accompanying no as to the financial statements 5S S Schwa Co.

Celti ed Pub/,'e r;countall


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DAG HAMMARSKJOLD SCHOLARSHIP FUND FOR JOURNALISTSSTATEMENT OF EXPENSESFOR THE YEARS ENDED DECEMel!1'l 31, 200' AND DECEMBER 31, 200'

See accountanl'sletter and accompanyi"lllllOles 10 the finandll statements


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OAG HAMMARSKJOLD SCHOLARSHIP FUND FOR JOURNALISTSNOTES TO THE FINANCIAL STATEMENTSDECEMBER 31, 2009 AN D 2008PREPARED FOR THE DISTRIBUTION

1. ORGANIZATIONn. Dag H . m m a ~ Scl"dars,ip Fund for Joumallsts lormeJly known IS The Memori


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DAG HAMMARSKJOLD SCHOLARSHIP FUND FOR JOURNALISTSNOTES TO THE FINANCIAL STATEMENTSDECEMBER 31, 2009 AND 200BPREPARED FOR THE BOARD OF DIRECTORS3, Money Market Fund

Mellill Lynch Money Markel, CO's and Irwestment funds at O e c e m ~ r 31, 2009 and 2008was valued at 5318,135 and $214,181 respectively, Balances afe as followsYear Endln December 31 2009

Mane(;(j's & EqllValal"llMar1


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DAG HAMMARSKJOLD SCHOLARSHIP FUND FOR JOURNALISTSNOTES TO THE FINANCIAL STATEMENTSDECEMBER 31, 2009 AND 2008PREPARED FOR THE DISTRIBUTION

5. Administrator's and Development Consultant's Compensation.Th

%Allocation AmountProgram services 00 ' S 8,250,,,Luncheon expenses 5,500,,,Administrative

Year 2009 AUoution Amount'.Program services 00' , 1,450,,,Luncheon expenses ,725Administrative expenses ,290Fund Raising '"


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DAG HAMMARSKJOLD SCHOLARSHIP FUND FOR JOURNAliSTSNOTES TO THE FINANCIAL STATEMENTSDECEMBER 31, 2009 AND 2008PREPARED FOR THE DISTRIBUTION

6. Per Diem Expenses:Fellows' per diem expenses for the years 2009 and 2008 respective were S19 408 and$19,225, Expenses for the four fellows in 2009 and 2008 were as follows.

Ytilr 2009Ali EIBahnasswy S 4.615Imelda V Abano 4.615Mushtag Yusufzal 4,290Samuel Aldo Agyemang 5,888, 19,406Year 2008Ebtihll Mub.arak , 4,810E6ck KlIbendlra 4,830Grevazio Zulu 4,700Patricia CaychO 4,885, 19,225

7. Travel Expenses:Travel expenses for 2009 and 2008 were SO and $6,389, respectively

,. Luncheon Receipt. and ExpensesThe resull. of the luncheon financial receipts and expenses are as follows

2009 2008

Luncheon receip15 (Page 3) S 4,820 S 5.280Luncheon expense. (page 6J 19,340 22,966Net Profrt or (Expense) ...!J\4,5201 $ (17.686)

"J. S. Sf},"-::' Gl.Cenified Put#; AcctI

dag-financial-accountant 2010

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