IRS Report: FY 2005-2006
Our thanks to Romy Coronacion for completing our IRS report for Fiscal Year 2005-2006.
As indicated below we have received total revenues of $43,223 and spent a total $50,707. Balance forwarded from previous years was a total of $18,570, thus leaving a net asset of $11,342.
Please note that all of the grants $49, 985 were donor-designated and therefore could only be used for the causes chosen by the donors. The bulk of the grants went to the Prelature of Infanta, through a Mission Appeal from the Archdiocese of Denver, and from numerous donors for the typhoon relief and for scholarships. Other causes our donors designated were the Discalced Carmelite Friars, for their Building Fund for the Seminary; the victims of the typhoon in Leyte; and the Socio Pastoral Institute, which one donor has designated to monitor the grants distribution and progress of projects supported by Metro Infanta Foundation.
Currently, Metro Infanta Foundation has 22 scholars from the Prelature of Infanta and beyond. We will have a separate report on this major project.
Balance Forward $18,570
Revenues
Donations 43,223
Membership 240
Interest 16
TOTAL $43,479
Grand Total $62,049
Expenses
Grants 49,985
Office Supplies 212
Postage 161
Secretary of State 10
Bank Charges 159
Internet 180
TOTAL $50,707
Balance $11,342