Financial Highlights

Assets

December 31, 2015

CURRENT ASSETS
Cash and cash equivalents$7,090,795
Accounts receivable$9,169
Refunds receivable$151,105
Grants receivable$20,000
Other receivables$11,369
Inventory$34,985
Prepaid expenses$258,024
Total current assets$7,575,447
PROPERTY AND EQUIPMENT - net$2,933,198
OTHER ASSETS
Deposits$82,544
Goodwill$4,231,063
Total other assets$4,313,607
Total assets$14,822,252

Liabilities and Net Assets

December 31, 2015

CURRENT LIABILITIES
Accounts payable and accrued expenses$2,636,084
Note payable - current portion$500,000
Total current liabilities$3,136,084
OTHER LIABILITIES
Note payable$625,000
Deferred rent$343,924
Total other liabilities$968,924
COMMITMENTS-
NET ASSETS
Unrestricted$10,628,866
Temporarily restricted$88,378
Total net assets$10,717,244
Total liabilities and net assets$14,822,252

Consolidated Statement of Activities

Year ended December 31, 2015

REVENUES AND SUPPORTUnrestrictedTemporarily RestrictedTotal
Burning Man annual event$35,578,074-$35,578,074
Contributions, gifts and grants$682,768$669,9431,352,711
Other program revenue$156,215-$156,215
Fundraising events - (net of direct expenses of $327,818)$314,081-$314,081
Interest income$8,754-$8,754
Other income$21,196-$21,196
Subtotal$36,761,088$669,943$37,431,031
Net assets released from restrictions$723,156($723,156)-
Total revenues and support$37,484,244$(53,213)$37,431,031
EXPENDITURES
Program expenses$30,454,146-$30,454,146
Management and general$5,510,228-$5,510,228
Fundraising$451,414-$451,414
Total expenditures$36,415,788-$36,415,788
CHANGE IN NET ASSETS$1,068,456$(53,213)$1,015,243
Net assets - beginning of year$9,560,410$141,591$9,702,001
Net assets - end of year$10,628,866$88,378$10,717,244