Financial Highlights

Assets

CURRENT ASSETS
Cash and cash equivalents$6,214,047
Accounts receivable$56,717
Refunds receivable$197,924
State tax receivable$159,023
Grants receivable$41,030
Other receivables$45,953
Inventory$36,110
Prepaid expenses$259,889
Total current assets$7,010,693
PROPERTY AND EQUIPMENT - net$3,041,154
OTHER ASSETS
Deposits$89,222
Goodwill$4,320,295
Total assets$14,372,132

Liabilities and Net Assets

CURRENT LIABILITIES
Accounts payable and accrued expenses$2,498,355
Notes payable - current portion$500,000
Total current liabilities$2,998,355
OTHER LIABILITIES
Notes payable$1,401,000
Deferred rent$270,776
Total other liabilities1,671,776
COMMITMENTS0
NET ASSETS
Unrestricted$9,560,410
Temporarily restricted$141,591
Total liabilities and net assets$14,372,132

Consolidated Statement of Activities

Year ended December 31, 2014

REVENUES AND SUPPORTUnrestrictedTemporarily RestrictedTotal
Burning Man annual event$31,459,816-$31,459,816
Contributions, gifts and grants$897,955$131,9101,029,865
Contribution of Black Rock Arts Foundation$214,986$51,260$266,246
Other program revenue$20,443-$20,433
Fundraising events - (net of direct expenses of $263,717)$180,913-$180,913
Interest Income$10,529-$10,529
Other Income$94,654-$94,654
$32,879,296$183,170$33,062,466
Net assets released from restrictions$176,780($176,780)-
Total revenues and support$33,056,076$6,390$33,062,466
EXPENDITURES
Program Expenses$25,764,708-$25,764,708
Management and general$4,766,707-$4,766,707
Fundraising$115,149-$115,149
Total Expenditures$30,646,564-$30,646,564
CHANGE IN NET ASSETS$2,409,512$6,390$2,415,902
Net assets - beginning of year$7,150,898$135,201$7,286,099
Net assets - end of year$9,560,410$141,591$9,702,001