EEMPOWERMPOWER M MEE D DAYAY C CAMPAMP, A N, A NOTOT F FOROR P PROFITROFIT C CORPORATIONORPORATION

AAUDITEDUDITED F FINANCIALINANCIAL S STATEMENTSTATEMENTS

DDECEMBERECEMBER 31, 2017 31, 2017

HHUGHUGH W. S W. SMITHMITH, S, SRR..CCERTIFIEDERTIFIED P PUBLICUBLIC A ACCOUNTANTCCOUNTANT

Empower Me Day Camp, A Not For Profit CorporationTable of ContentsDecember 31, 2017

PageIndependent Auditor's Report   1­2

Statement of Financial Position   3

Statement of Activity and  Changes in Net Assets   4

Statement of Functional Expenses   5

Statement of Cash Flows   6

Notes to Financial Statements   7­10

Hugh W. Smith, Sr.Certified Public Accountant

765 McClure Street ◊ Red Boiling Springs, Tennessee 37150 ◊ 615-699-2695 ◊ hsmith@nctc.com ◊

Independent Auditor's Report

To the Board of Directors of Empower Me Day Camp, A Not For Profit Corporation

I have audited the accompanying financial statements of the Empower Me Day Camp, A Not For Profit Corporation, which comprise the statement of financial position as of June 30, 2017, and the related statements of activity, functional expenses, and cash flows for the year 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 U.S. generally accepted accounting principles; 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

My responsibility is to express an opinion on these financial statements based on my audit. I conducted my audit in accordance with U.S. generally accepted auditing standards. Those standards require that I plan and perform the audit to obtain reasonable assurance about whether the financial statements are freefrom 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, I express no such opinion. An audit also includes evaluating the appropriateness of account policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. I believe that the audit evidence I have obtained is sufficient and appropriate toprovide a basis for my audit opinion.

Basis for Disclaimer of Opinion on the Statement of Cash Flows

I was not engaged as auditor of the Corporation until July 25, 2018. This was the first financial audit ofthe Corporation, and, therefore, beginning balances were not previously audited. I was unable to satisfy myself concerning cash by performing other audit procedures concerning cash at December 31, 2016. Since opening cash enter into the determination of cash flows I was unable to determine whether any adjustments might have been necessary in respect of the net cash flows reported in the cash flow statement.

Disclaimer of Opinion on the Statement of Cash Flows

Because of the significance of the matter described in the Basis for Disclaimer of Opinion on the Statement of Cash Flows paragraph, however, I was not able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion on cash flows for the year ended December 31, 2017. Accordingly, I do not express an opinion on the statement of cash flows for the year ended December 31,2017.

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Opinion

In my opinion, the statement of financial position presents fairly, in all material respects, the financial position of Empower Me Day Camp, A Not For Profit Corporation, as of December 31, 2017, and the results of its operations for the year then ended in accordance with U.S. generally accepted accounting principles.

October 8, 2018

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Empower Me Day Camp, A Not For Profit CorporationStatement of Financial PositionDecember 31, 2017

ASSETS

Current AssetsChecking Account $ 89,444.22 Zenith Money Market 285,071.01 

Total Cash   374,515.23 

Other AssetsJere Ride – A non­interest bearing account 81,463.19 

Total Current Assets 455,978.42 

Land 1,286,791.22 Total Property   1,286,791.22 

Total Assets   $ 1,742,769.64 

LIABILITIES AND NET ASSETS

Current Liabilities  Notes Payable $ 150,000.00 

Total Liabilities   150,000.00 

Net AssetsUnrestricted 1,592,769.64 

Total Net Assets 1,592,769.64 

  $ 1,742,769.64 

See accompanying notes to the financial statements.

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Empower Me Day Camp, A Not For Profit Corporation

Statements of Activities and Changes in Net Assets

For the Year Ended December 31, 2017

Unrestricted

Public Support and Donations

Individual Contributions $ 106,973.73

Land Donation 384,250.00

PFP CC Account Donations 418,740.00

Boff CC Account Donations 100,000.00

PayPal Transfers- CHALLENGE 8,939.75

Business Contributions 26,845.58

Civic Club Donations 11,888.31

Foundation Grants 28,500.00

Local Government Grants 10,600.00

United Way 10,648.78

Sumner Camp Fee 53,810.50

Corporate Fundraising 81,717.40

Predators Grant 1,500.00

PayBack Grant 15,000.00

1,259,414.05

Fundraising Revenue

Events 81,717.40

81,717.40

Other Revenue

Interest 2,420.64

Refunds 136.17

Dividends 2,404.56

Gain on Sale of Stock 27,855.41

32,816.78

Total Revenue 1,373,948.23

Expenses

Program Services 363,673.27

Management & General 243.79

Total Expenses 363,917.06

Excess (Deficiency) of Public Support/Donations

And Revenue Over Expenses 1,010,031.17

Net Assets, Beginning 603,006.00

Prior Net Assets Adjustment (Note D) (20,267.53)

Adjusted Net Assets, Beginning 582,738.47

Net Assets, End $ 1,592,769.64

See accompanying notes to the financial statements.

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Empower Me Day Camp, A Not For Profit Corporation

Statement of Functional Expenses

Year Ended December 31, 2017

Fund Management Total

Program Raising & General (Memo)

Day of DREAMS $ $ 1,228.21 $ $ 1,228.21

Golf Tournanment 15,245.47 15,245.47

Dice & Dreams 11,203.82 11,203.82

Christmas Carol Sing Off 358.22 358.22

Motor Cycle Ride 169.65 169.65

Memoriable 2,362.50 2,362.50

Sumner Camp Payroll 54,592.00 54,592.00

Executive/Program Director Salary 169,293.00 169,293.00

Payroll Taxes 21,564.00 21,564.00

Health Insurance 12,907.09 12,907.09

Outside Program Fees 775.00 775.00

Activity Supplies 4,857.11 4,857.11

Office Supplies 755.22 755.22

Telephone 853.90 853.90

Postage 2,046.40 2,046.40

Postal Fees 337.00 337.00

Copier Lease 868.06 868.06

Printing Supplies 1,547.51 1,547.51

Printing Fees 2,863.70 2,863.70

Fundraising Expenses 30,567.87 30,567.87

Advertising 2,079.84 2,079.84

Rent 1,620.03 1,620.03

Grant Expenses – Supplies/Equipment 16,519.94 16,519.94

General & D/O Liability Insurance 1,439.00 1,439.00

Workers Comp Insurance 3,620.87 3,620.87

Membership Dues/Fees 2,741.00 2,741.00

Bank Charges 160.00 160.00

Early Withdrawal Penalty 83.79 83.79

SDC/Donation Fee Chargeback 575.00 575.00

Jere’s Ride Expenses 481.86 481.86

Business Meals/Gifts 200.00 200.00

Total expenses $ 302,537.53 $ 61,135.74 243.79 $ 363,917.06

See accompanying notes to the financial statements.

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Empower Me Day Camp, A Not For Profit Corporation

Statements of Cash FlowsDecember 31, 2017

Cash Flows From Operating Activities

Increase (Decrease) In Net Assets $ 1,010,031.17

Adjustments to reconcile change in net assets to

net cash provided by operations:

Long-term gain from sale of stock (27,855.00)

Increase (Decrease) Notes Payable 150,000.00

Net Cash Provided By Operating Activities 1,132,176.17

Cash Flows From Financing Activities

Purchase Land (894,114.22)Land Donation (384,250.00)

Dividends (2,404.56)

(1,280,768.78)

Cash Flows From Investing Activities

Sale of Stock 171,176.65

171,176.65

Net Increase (Decrease) in Cash and Cash Equivalents 22,584.04

Cash and Cash Equivalents, Beginning (Note D) 351,931.19

Cash and Cash Equivalents, End $ 374,515.23

See accompanying notes to the financial statements.

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Empower Me Day Camp, A Not For Profit Corporation.Notes to Financial Statements December 31, 2017

NOTE A­ SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of ActivitiesEmpower Me Day Camp was organized in 1999  as a Tennessee not­for­profit corporation and is head quartered in Lebanon, Tennessee.  The corporation serves special needs children and their families in the Middle Tennessee area. 

Basis of Accounting                           The financial statements of the Corporation have been prepared utilizing the accrual basis of accounting.

Basis of PresentationUnder Statement of Financial Accounting Standards (SFAS) No. 117, Financial Statements of Not­for­profit Organizations, the Organization is required to report information regarding its financial position and activities according to three classes of net assets: unrestricted net assets. temporarily restricted net assets, and permanently restricted net assets. 

ContributionsUnder SFAS No. 116, Accounting for Contributions Received and Contributions Made, contributions received are recorded as unrestricted, temporarily restricted, or permanently restricted net assets depending on the absence or existence and nature of any donor restrictions.  Under SFAS No. 116, time­restricted contributions are required to be reported as temporarily restricted support and are then reclassified to unrestricted net assets upon expiration of the time restriction.

Promise To GiveContributions are recognized when the donor makes a promise to give the Organization that is, in substance, unconditional.  Donor­restricted contributions are reported as increases in temporarily or permanently restricted net assets depending on the nature of the restrictions.  When a restriction expires, temporarily restricted net assets are reclassified to unrestricted net assets.

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notes continued

EstimatesThe preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures.  Accordingly, actual results could differ from those estimates.

Contributed ServicesThe Organization receives donated services from a variety of unpaid  volunteers assisting the Organization in the preservation of the facilities and education programs.  No amounts have been recognized in the accompanying statement of activities because the criteria for recognition of such volunteer efforts under SFAS No. 116 have not been satisfied.  During the year ended December 31, 2017, the value of contributed services meeting the requirements for recognition in the financial statements was not material and has not been recorded.

LandLand, is stated at cost.  Land consisted of the following as of December 31, 2017:

Income Tax StatusThe Organization qualifies as a tax­exempt organization under section 501(c)(3) of the Internal Revenue Code, and therefore, has no provision for federal income taxes presented in the financial statements.  At December 31, 2017, the Corporations’s tax returns related to fiscal years ended December 31, 2013 through December 31, 2016 remain open to examination by tax authorities.

Functional Expenses

Expenses are charged to each program based on direct expenditures incurred and have been summarized on the statement of functional expenses.  Any program expenditures not directly chargeable are allocated among the programs and supported services benefited.

12/31/16 Purchased Donated 12/31/17

Land    $ 8,427  $ 894,114 $ 384,250 $ 1,286,791

Total $ 8,427  $ 894,114 $ 384,250 $ 1,286,791

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notes continued

Cash and Cash Equivalents

For the purposes of the statement of cash flows, cash consists of cash on hand and in banks, including money market funds, and certificates with the original maturities of lessthan 90 days.

Investment SecuritiesInvestments in marketable securities with readily determinable fair values and all investments in debt securities are valued at their fair values in the statement of financial position.  Unrealized gains and losses are included in the change in net assets.

CashDuring the fiscal year, the Corporation’s cash  bank balances did  exceed the federally insured limits.  At December 31, 2017, the Corporation did not have any uninsured cash balances.

NOTE B­ DESCRIPTION OF PROGRAMS

Community ServicesThe Corporation provides services for special needs children and their families.

NOTE C­ RELATED PARTY TRANSACTIONS

The Corporation received  loans from Susan Hazelwood $125,000, and Vanessa Sprckard $25,000 during the audit period.  Both were members of the Board of Directorsfor the audit period.

NOTE D­  RESTATEMENT OF NET ASSETS AND CASH FLOWS

Net Assets were determined by subtracting audited liabilities from audited cash, and land balances for the period ended December 31, 2017.  To arrive at ending net assets in the Statement of Activities an adjustment was made to adjust to actual.  Because of the reason described in the auditor’s report, the beginning cash balance in the Statement of Cash Flow’s was used to adjust to actual cash at December 31, 2017.

NOTE E­ SUBSEQUENT EVENTS

In preparing the financial statements, the Corporation has evaluated events and 

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notes continued

transactions for potential recognition and disclosure through October 8, 2018, the date the financial statements were available to be issued.