Footnotes
1 Investments are primarily composed of marketable securities, real estate pending disposition and an investment in a captive insurance company. Invested assets include: endowments, trusts, donor-advised funds, designated capital gifts, and centrallymanaged area and camp surpluses.
2 Financial Accounting Standard Number 116 requires pledges meeting certain specified criteria and anticipated to mature in future periods be recognized in the current period. Pledges are recorded in the Young Life Foundation and conform to this standard, which is applicable to all not-for-profit
organizations.
3 In addition to contributions received for operations, principally local and international area ministry, Young Life received $6,036,778 and $11,221,483 in 2008 and 2007, respectively, for pledges and current contributions designated for capital purposes such as new camps, camp buildings, camp improvements and equipment.
4 Camp fees and other operating revenues include program service revenues and internal and external sales.
5 The major component of other revenues is investment income which totaled ($4,537,221) and $9,374,459 in 2008 and 2007, respectively. This investment income includes both realized and unrealized gains and losses.
6 Fundraising expenses include the salaries for development staff across the country and the direct costs of raising local budgets (banquets, golf tournaments and other similar events).
Comment: A more detailed presentation appears in the Financial Statements and Report of Independent Certified Public Accountants, Young Life and Subsidiaries, Sept. 30, 2008 and 2007.
Note: Young Life’s mission cash is owned mainly by our field ministries. This cash represents approximately one-and-one-half months of field expenses.