ANNUAL REPORT 2015 24 Consolidated Statement of Activities and Changes in Net Assets for the Year Ended December 31, 2015 REVENUE, GAINS, AND OTHER SUPPORT Unrestricted Temporarily Restricted Total Contract Revenue $ 50,056,165 $ 50,056,165 School Revenue 9,327,494 9,327,494 Program Revenue 631,802 631,802 Administrative Fees 690,722 690,722 Other 1,447,134 $ (86,087) 1,361,047 Grant Revenue 304,606 304,606 Donations and Special Events 35,394 139,357 174,751 Investment Income (Loss) -46,832 152 (46,680) 62,446,485 53,422 62,499,907 FUNCTIONAL EXPENSES Program 49,920,014 49,920,014 General and Administrative 11,603,504 11,603,504 Fundraising 217,798 217,798 61,741,316 61,741,316 OPERATING EXCESS 705,169 53,422 758,591 Other Income 3,369,289 3,369,289 CHANGE IN NET ASSETS 4,074,458 53,422 4,127,880 NET ASSETS Beginning of Year 52,641,016 154,340 52,795,356 End of Year $ 56,715,474 $ 207,762 $ 56,923,236 Note: The operating activities of Woodbourne Center are excluded from Nexus’ consolidated financial statements as Woodbourne has a different mandated fiscal year. Audited financial operating statistics for Woodbourne Center for the fiscal year ended June 30, 2015 were as follows: Total Revenues $10,199,000 Total Assets $7,022,000 Total Expenses 11,052,000 Total Liabilities $2,617,000 Change in Net Assets (Loss) ($853,000) Net Assets $4,405,000 Additional Notes: Complete audited financial statements and the IRS Form 990 for Woodbourne Center and all Nexus sites are available at www.nexus-treatment. org or by calling 763-551-8640. Current Strength: Nexus has a history of strong financial strength, the result of solid fiscal management of the resources entrusted to us. This has allowed Nexus to ensure a solid operating reserve, respond to fluctuations in reimbursement systems and per diem payments, and invest in opera-tions and infrastructure to ensure the high quality of services for the youth and families we serve. Future Needs: Nexus is proud of our financial management practices and good stewardship of the resources entrusted to us. We are also committed to addressing the growing safety and mental health needs of children and families. Our goal: to expand our continuum of care to meet these needs and provide the right amount of care at the right time in the right way. To accomplish this, we must engage the community, individuals, businesses, and foundations in supporting these endeavors.
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