HomeMy WebLinkAboutArc FinancialTHE ARC OF SOUTHEAST IOWA
Iowa City, Iowa
FINANCIAL STATEMENTS
June 30, 2022 and 2021
TABLE OF CONTENTS
INDEPENDENT AUDlTOR'S REPORT
FINANCIAL STATEMENTS
Statements of Financial Position ..................
Statements of Activities ................................
Statements of Cash Flows .............................
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
NOTES TO FINANCIAL STATEMENTS.............................................................I
SUPPLEMENTAL INFORMATION
Schedule of Program Service Revenue ........................................
Schedule of Functional Expenses .................................................
1-2
...................... 3
......................4
...................... 5
MEMBER OF
AMERICAN ISTITUTE OF CERTIFIED
PUBLIC ACCOUNTANTS
To the Board of Directors of
The Arc of Southeast Iowa
JAMES B. BUXTON, C.P.A.
1811 MUSCATINE AVENUE
IOWA CITY, IOWA 52240-6414
(319) 354-7262
FAX (319) 338-3090
INDEPENDENT AUDITOR'S REPORT
Report on the Audit of the Financial Statements
MEMBER OF
IOWA SOCIETY OF CERTIFIED
PUBLIC ACCOUNTANTS
Opinion
I have audited the accompanying financial statements of The Are of Southeast Iowa (The Arc), (a non-profit
organization), which comprise the statements of financial position as of June 30, 2022 and 2021, and the related
statements of activities and cash flows for the years then ended, and the related notes to the financial statements.
In my opinion, the accompanying financial statements present fairly, in all material respects, the financial position of
The Arc of Southeast Iowa as of June 30, 2022 and 2021, and the changes in its net assets and its cash flows for the
years then ended, in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
I conducted my audits in accordance with auditing standards generally accepted in the United States of America
(GAAS). My responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit
of the Financial Statements section of my report. I am required to be independent of the Arc and to meet my other
ethical responsibilities, in accordance with the relevant ethical requirements relating to my audits. I believe that the audit
evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with
accounting principles generally accepted in the United States of America, and for the design, implementation, and
maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from
material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events,
considered in the aggregate, that raise substantial doubt about the Arc's ability to continue as a going concern for a
reasonable period of time.
Auditor's Responsibilities for the Audit of the Financial Statements
My objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes my opinion.
Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an
audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve
collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are
considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the
judgement made by a reasonable user based on the financial statements.
ha performing an audit in accordance with GAAS,1•
a. Exercise professional judgement and maintain professional skepticism throughout the audit.
b. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and
design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis,
evidence regarding the amounts and disclosures in the financial statements.
c. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Arc's
internal control. Accordingly, no such opinion is expressed.
INDEPENDENT AUDITOR'S REPORT (cont.)
d. Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates
made by management, as well as evaluate the overall presentation of the financial statements.
e. Conclude whether, in my judgement, there are conditions or events, considered in the aggregate, that raise substantial
doubt about the Arc's ability to continue as a going concern for a reasonable period of time.
I am required to communicate with those charged with governance regarding, among other matters, the planned scope
and timing of the audit, significant audit findings, and certain internal control -related matters that I identified during the
audit.
Other Information
My audit was conducted for the purpose of forming an opinion on the financial statements as a whole. The Schedule of
Program Service Revenue and the Schedules of Functional Expenses on pages 13-15 are presented for purposes of
additional analysis and are not a required part of the financial statements. Such information is the responsibility of
management and was derived from and relates directly to the underlying accounting and other records used to prepare
the financial statements. The information has been subjected to the auditing procedures applied in the audit of the
financial statements and certain additional procedures, including comparing and reconciling such information directly to
the underlying accounting and other records used to prepare the financial statements or to the financial statements
themselves, and other additional procedures in accordance with auditing standards generally accepted in the United
States of America. In my opinion, the information is fairly stated in all material respects in relation to the financial
statements as a whole
wy,ti, Ply
FaliMlEoaL
June 19,2023
504
THE ARC OF SOUTHEAST IOWA
Statements of Financial Position
June 30, 2022 and 2021
2022
2021
Assets
Current Assets
Cash and cash equivalents
$501,440
$292,249
Accounts receivable
126,005
258,806
Contribution receivable from United Way
28,950
28,968
Grants receivable
1,223
1,510
Prepaid expenses
33,160
27,332
Total current assets
690,778
608,865
Interest in Community Found. of Johnson County
10,000
10,000
Property and Equipment
Land
307,736
307,736
Office building
726,020
714,270
Land improvements
197,483
191,528
Office furniture and equipment
158,245
158,245
Vehicles
81,715
32,715
1,471,199
1,404,494
Less accumulated depreciation
596,575
546,924
874,624
857,570
Total assets
$1,575,402
$1,476,435
Liabilities and Net Assets
Current Liabilities
Accounts payable
$15,389
$22,681
Current maturities of long-term debt
121,750
279,800
Accrued expenses
56,190
60,852
Long-term debt, less current maturities
321,264
444,266
Total liabilities
514,593
807,599
Net assets
Unrestricted, without donor restrictions
1,050,809
658,836
Restricted, with donor purpose restrictions
10,000
10,000
Total net assets
1,060,809
668,836
Total liabilities and net assets
$1,575,402
$1,476,435
The accompanying summary of significant accounting policies and notes
to financial statements are an integral part of these financial statements.
-3-
Support and Revenue
Program service revenue
Interest income
Contributions
United Way of Johnson & Wash. Cos.
City of Iowa City
General public
Donated rent, services, and supplies
Grants
US Dept. of Health & Human Services
Medicaid
MHDS of East Central Region
Gain on PPP Loan forgiveness
Gain -City Iowa City Loan forgiveness
City of Iowa City
United States Tress. Cares Act Credits
State of Iowa
Other grants
Fund raising events
Miscellaneous income
Total support and revenue
Net assets released from restrictions
Total support, revenue, and net
assets released from restrictions
Expenses
Program services
Respite care
Supported living
Consumer directed attendant care
Supported employment
Other grants and programs
Total program services
Supporting activities
Fundraising
General and administrative
Total supporting activities
Total expenses
THE ARC OF SOUTHEAST IOWA
Statements of Activities
Years Ended June 30, 2022 and 2021
Year Ended June 30, 2022
Without With
Donor Donor
Restrictions Restrictions Total
Year Ended June 30, 2021
Without With
Donor Donor
Restrictions Restrictions Total
$1,018,527
$0
$1,018,527
$960,264
$0
$960,264
1,837
0
1,837
257
0
257
28,932
0
28,932
28,968
0
28,968
20,895
0
20,895
19,938
0
19,938
44,639
0
44,639
47,124
0
47,124
5,250
0
5,250
12,466
0
12,466
71,248
0
71,248
117,340
0
117,340
0
0
0
36,797
0
36,797
105,000
0
105,000
41,246
0
41,246
251,896
0
251,896
251,875
0
251,875
0
0
0
51,000
0
51,000
0
0
0
17,190
0
17,190
208,601
0
208,601
220,536
0
220,536
169,220
0
169,220
0
0
0
21,533
0
21,533
16,996
0
16,996
19,495
0
19,495
17,028
0
17,028
1,919
0
1,919
3,797
0
3,797
1,968,992
0
1,968,992
1,842,822
0
1,842,822
0
0
0
12,250
(12,250)
0
1,968,992
0
1,968,992
1,855,072
(12,250)
1,842,822
197,748
0
197,748
240,393
0
240,393
110,840
0
110,840
124,439
0
124,439
7,532
0
7,532
27,471
0
27,471
379,178
0
379,178
241,405
0
241,405
290,183
0
290,183
180,894
0
180,894
985,481
0
985,481
814,602
0
814,602
4,292
0
4,292
3,990
0
3,990
587,246
0
587,246
612,134
0
612,134
591,538
0
591,538
616,124
0
616,124
1,577,019
0
1,577,019
1,430,726
0
1,430,726
Change in net assets
391,973
0
391,973
424,346
(12,250)
412,096
Net assets, beginning of year
658,836
10,000
668,836
234,490
22,250
256,740
Net assets, end of year
$1,050,809
$10,000
$1,060,809
$658,836
$10,000
$668,836
The accompanying summary of significant accounting policies and notes
to financial statements are an integral part of these financial statements.
-4-
THE ARC OF SOUTHEAST IOWA
Statements of Cash Flows
Years Ended June 30, 2022 and 2021
2022
2021
Cash flows from operating activities
Change in net assets
$391,973
$412,096
Adjustments to reconcile change in net assets
to net cash (used) in operating activities:
Depreciation
49,651
41,425
Donated rent, services, and supplies
Included in support and revenue
(5,250)
(12,466)
Included in expenses
5,250
12,466
Decrease (increase) in operating assets
Accounts receivable
133,106
(128,378)
Prepaid expenses
(5,828)
781
Increase (decrease) in operating liabilities
Accounts payable
(7,292)
(9,622)
Accrued expenses
(4,662)
(37,879)
Net cash provided by operating activities
556,948
278,423
Cash flows used by investing activities
Purchase of office building improvements (11,750) (34,895)
Purchase of land improvements (5,955) 0
Purchase of vehicle (49,000) (18,010)
Donated office building improvements 0 0
Net cash (used) by investing activities (66,705) (52,905)
Cash flows from financing activities
Repayment of note to City of Iowa City 0 (51,000)
Loan proceeds from SBA PPP Loan 0 249,800
Repayment of SBA PPP Loan (249,800) (249,800)
Repayment of long-term debt (31,252) (25,452)
Net cash provided (used) by financing activs. (281,052) (76,452)
Net change in cash and cash equivalents 209,191 149,066
Beginning cash and cash equivalents 292,249 143,183
Ending cash and cash equivalents $501,440 $292,249
Sunolemental disclosures of cash flow information,
Interest paid on operating loans $17,343 $17,050
The accompanying summary of significant accounting policies and notes
to financial statements are an integral part of these financial statements.
-5-
THE ARC OF SOUTHEAST IOWA
Summary of Significant Accounting Policies
June 30, 2022 and 2021
Nature of activities. In general the Are of Southeast Iowa (the Arc) is an autonomous, self-
governing, not for profit agency. The Arc is a dues -paying member of the Arc of Iowa and the Are
of U.S. Associations that advocate and lobby for the rights of the disabled on the state and national
level. The Are is also a dues -paying member of the Iowa Association of Community Providers,
which is committed to promoting healthy and secure communities for children and adults with
disabilities. Since 1958 the Arc has focused on inclusion for persons with developmental
disabilities in their home communities throughout their lifespan. The Arc is committed to being a
leader in offering information, services, and advocacy to individuals with developmental
disabilities, their families, and community: to promote informed choices and the realization of their
goals relating to where and how they live, learn, work, and play. The Arc's fiscal year ends on June
30.
The Arc's programs include respite care, which provides services to families to provide relief from
the daily care of a family member with a disability. The supported living program provides services
to assist individuals with disabilities to work toward personal, employment, and educational related
goals. Other program services include advocacy and awareness, supported employment, consumer
directed attendant care, services to children with a disability living at home, and site -based daycare
services. Medicaid, under its waiver program, pays for a substantial portion of the services
provided by the Arc.
Estimates. The preparation of financial statements in conformity with accounting principles
generally accepted in the United States of America requires management to make estimates and
assumptions that affect the reported amount of assets and liabilities and disclosure of contingent
assets and liabilities at the date of the financial statements and the reported amounts of revenue and
expenses during the reporting period. Accordingly, actual results could differ from those estimates.
Certain siaiificant estimates. The accrual for accounts receivable and unbilled services and the
liability for estimated third party settlements involve certain significant estimates made by
management. These estimates are reviewed by management routinely, and it is reasonably possible
that circumstances that exist may change in the near -term future and that the effect could be
material to the financial statements.
Revenue recognition. Revenue from services is recognized as the services are performed, primarily
on the basis of hours of service provided, at estimated net realizable amounts. Unbilled services
represent services provided for which billings have not been processed. Revenue from certain
employment and training related services are recognized upon the achievement of specified
milestones. Contract and grant revenue is recognized on a cost reimbursement basis as
expenditures are incurred.
Medicaid services are subject to annual audits of rates that are based upon actual costs and are
subject to retroactive fee adjustments as determined by the funding agencies. Such adjustments are
estimated and recorded when it is probable that an adjustment will be required. Fee adjustments are
reported as a reduction in revenue, if determined in the same period as the original billing is made,
and adjustments determined in a subsequent year are shown as a line item on the statement of
activities in the year of the adjustment determination.
0
THE ARC OF SOUTHEAST IOWA
Summary of Significant Accounting Policies
June 30, 2022 and 2021
Income taxes. The Are is a non-profit organization and is exempt from federal income taxes under
Section 501(c)(3) of the Internal Revenue Code of 1954 and classified by the Internal Revenue
Service as other than a private foundation. There was no unrelated business income for the years
ended June 30, 2022 and 2021.
Functional allocation of expenses. Directly identifiable expenses are charged to programs and
supporting services. Expenses related to more than one function are charged to programs and
supporting services on the basis of periodic time and expense studies. General and administrative
expenses include those expenses that are not directly identifiable with any other specific function
but provide for the overall support and direction of the Organization.
Basis of presentation. Net assets, revenues, gains, and losses are classified based on the existence or
absence of donor or grantor imposed restrictions. Accordingly, net assets and changes therein are
classified and reported as follows:
Net Assets Without Donor Restrictions. Net assets available for use in general operations and not
subject to donor (or certain grantor) restrictions.
Net Assets With Donor Restrictions. Net assets subject to donor (or certain grantor) imposed
restrictions.
Restricted and unrestricted revenue. The Organization recognizes contributions when the donor
makes a promise to give to the Organization that is, in substance, unconditional. Contributions that
are restricted by the donor are reported as increases in Net Assets Without Donor Restrictions if the
restrictions expire (when a stipulated time restriction ends or purpose restriction is accomplished) in
the fiscal year in which the revenue is recognized. All other donor -restricted contributions are
reported as increases in Net Assets With Donor Restrictions. When a restriction expires, restricted
net assets are reclassified to unrestricted net assets and reported in the Statements of Activities as
net assets released from restrictions.
Cash and cash equivalents. For purposes of the Statement of Cash Flows, the Arc considers all
highly liquid investments with a maturity of three months or less when purchased to be cash
equivalents.
Accounts receivable. Accounts receivable are carried at original invoice amount. Accounts
receivable are anticipated to be fully collectible and no allowance or provision for doubtful
accounts has been provided.
Interest in Communitv Foundation of Johnson Countv. Assets held by the Community Foundation
of Johnson County are treated as an asset by the Are because the Are has specified itself as the
beneficiary. The assets are carried at cost.
Property and equipment. These assets are stated at cost. Depreciation is computed primarily by the
straight-line method. The estimated service lives used to compute depreciation are 7 to 39 years for
-7-
THE ARC OF SOUTHEAST IOWA
Summary of Significant Accounting Policies
June 30, 2022 and 2021
Pronertv and equipment (continued).
the building and components, 10 to 15 years for land improvements, 5 to 10 years for furniture,
equipment, and vehicles, and 3 years for software. Land cost is not depreciated.
Additions or betterments of $1,000 or more are capitalized, while maintenance and repairs that do
not improve or extend the useful lives of the respective assets are charged to expense as incurred.
Upon sale or retirement of fixed assets, the costs and related accumulated depreciation are
eliminated from the accounts. Any resulting gains or losses are included in the determination of net
income.
12
THE ARC OF SOUTHEAST IOWA
Notes to Financial Statements
June 30, 2022 and 2021
Note 1. Net Assets With Donor Restrictions. Net assets with donor restrictions are restricted for
the following purposes as of June 30, 2022 and 2021:
2022 2021
Interest in endowment fund at Community Foundation 10 0 0 000
Net assets were released from donor restrictions by incurring expenses satisfying the restricted
purpose or by occurrence of the passage of time or other events specified by the donors as follows
for the years ended June 30, 2022 and 2021:
2022 2021
Interest in endowment fund at Community Foundation $ 0 $ 0
Purchase of bus 0 12,250
Total 0 12
Note 2. Interest in Community Foundation of Johnson County. On June 29, 2004, the Arc
transferred $10,000 to the Community Foundation of Johnson County (the Foundation) and
designated itself as the beneficiary. The Arc designated the funds to The Are of Johnson County
Endowment Fund (the Endowment Fund), which has since been renamed as The Arc of Southeast
Iowa Endowment Fund. Other donors may contribute to the Endowment Fund. The Are is entitled
to an annual distribution of funds from the Endowment Fund. The Arc elected distributions of
$1,223 and $1,510, respectively, in July, 2022 and 2021, which was equal to 5.00% and 5.00%,
respectively, of the total balance in the Endowment Fund as of June 30, 2022 and 2021. The Arc is
entitled to a maximum annual distribution from the Endowment Fund in the amount of 5.00% of
the total balance in the Endowment Fund as of the end of the preceding fiscal year ending June 30.
The Are reports its interest in the net assets of the Endowment Fund held by the Foundation as a
$10,000 asset for the principal amount invested and as a charitable contribution when received for
the annual distribution of funds from the Endowment Fund. The $10,000 Endowment Fund asset is
a restricted fund and as such is reported as a restricted portion of the net assets of the Arc.
Note 3. Long-term debt. Long-term debt at June 30, 2022 and 2021 consists of the following:
2022 2021
Note savable to Hills Bank & Trust Comnanv of Hills. Iowa
Promissory note dated April 2, 2007 in the amount of $640,000,
due August 1, 2025, interest rate 4.17%, monthly payments $3,500.
Secured by a building, improvements, land, and land improvements
with a June 30, 2022 net book value of $812,671.
Current portion at June 30, 2022 is $28,000. $ 349,264 $ 380,516
0
THE ARC OF SOUTHEAST IOWA
Notes to Financial Statements
June 30, 2022 and 2021
Note 3. (cont.)
2022 2021
Note savable to Citv of Iowa Citv. Iowa
Note payable, dated June 4, 2015 in the amount of $93,750,
due June 30, 2023, interest rate 0.00%, forgivable mortgage,
entire balance forgiven when due if property is used to allow
daily onsite programming for disabled children. Loan proceeds
used for ADA compliant accessible playground equipment.
Secured by a building, improvements, land, and land improve-
ments with a June 30, 2022 net book value of $812,671.
Current portion at June 30, 2022. $ 93,750 $ 93,750
Note savable to the United States Small Business Administration
Note payable, unsecured, fully guaranteed by U.S.. Government.
$249,800 note, dated 2/16/21, due 2/16/23, interest rate 1.01%,
mo. payments $14,058, beginning 9/16/21. Loan is a Small
Business Administration Loan made through the Paycheck
Protection Program and the entire principal amount of the loan
will be forgiven provided that the Organization utilized the loan
proceeds in accordance with SBA quidelines. This loan was
forgiven during the fiscal year ended June 30, 2022.
Current portion at June 30, 2022. $ 0 249,800
Total notes payable $ 443,014 $ 724,066
Less current portion of long-term debt 121,750 279,800
Total notes payable, net current portion 21 264 444 266
Estimated annual maturities of the long-term debt are as follows:
Year ending June 30, 2023
$ 121,750
Year ending June 30, 2024
29,118
Year ending June 30, 2025
30,391
Year ending June 30, 2026
261,755
Year ending June 30, 2027
-0-
Years ending after June 30, 2027
-0-
Total
443
Interest expense on notes payable to Hills Bank & Trust Company amounted to $15,144 and
$16,476 for the years ended June 30, 2022 and 2021, respectively. Interest expense forgiven on
the notes payable to the SBA amounted to $2,095 and $2,075 for the years ended June 30, 2022
and 2021, respectively, and is included in the expenses and income for the respective fiscal years.
-10-
THE ARC OF SOUTHEAST IOWA
Notes to Financial Statements
June 30, 2022 and 2021
Note 4. Proaram service fees. The Are receives program fees in various forms. Consumers
qualify for Medicaid and various supported community living programs depending upon their
individual needs. The Arc receives Medicaid funds and county funds for supported community
living programs.
Note 5. Business and credit concentrations. The Arc's main revenue source is program service
fees. During the year ended June 30, 2022, the Arc received $1,009,054 from Medicaid funds,
area counties, and site -based daycare services, which is approximately 51.25% of the Arc's
revenue for the fiscal year ended June 30, 2022. The amount due the Are as of June 30, 2022
included $116,961 from Medicaid and county funds.
The Arc currently assists consumers in Iowa City, Iowa and the surrounding Southeast Iowa area.
Note 6. Comoensated absences. In addition to salaries and wages accrued in the normal course
of business, the Arc has accrued $33,523 and $38,409 for the estimated cost of vacation pay
earned, but not taken, by its employees as of June 30, 2022 and 2021, respectively.
Note 7. Eouinment leases.
As of June 30, 2022, the Are was obligated on equipment leases for technological equipment,
including a mailing system, printer/copier/fax machines, computer systems, and a telephone system.
The total rental expense for the above equipment included in the statements of activities for the
years ended June 30, 2022 and 2021 is $15,853 and $18,677, respectively.
Note 8. Membership fees. The Arc is a member of The Arc of the United States and The Arc of
Iowa. Membership fees to the national and state organizations totaled $6,156 and $4,806 for the
years ended June 30, 2022 and 2021, respectively.
Note 9. Donated rent, services, and supplies. During the year ended June 30, 2022 the Are
received $5,250 and $12,466 in donated rent, services, and supplies, which is respectively included
in the Arc's support and revenue and expenses for the years ended June 30, 2022 and 2021.
Note 10. Retirement elan. The Are maintains an employee retirement plan for employees who
reach eligibility after one year of employment. Contributions to the plan are discretionary.
Contributions accrued and paid by The Arc to this plan for the years ended June 30, 2022 and 2021
were $10,303 and $9,859, respectively.
Note 11. Contineencv-fundina sources. Major funding sources require the Are to file cost reports
that are used to determine future provider hourly reimbursement rates. Also, the funding agencies
may determine that the Arc needs to reimburse the funding agencies if it is determined that the Arc
has received cost reimbursements during the fiscal year in excess of the amounts calculated in the
cost reports. Management estimates no additional liability.
Belo
THE ARC OF SOUTHEAST IOWA
Notes to Financial Statements
June 30, 2022 and 2021
Note 12. Liouidity and availability. Financial assets available for general expenditure, without
donor or other restrictions limiting their use, within one year of the balance sheet date, comprise the
following:
Cash and cash equivalents
Accounts receivable
Total
$ 501,440
156,178
$657,618
Note 13. Subsequent events. Subsequent events were evaluated through June 19, 2023, which is
the date of the financial statements. Beginning in March, 2020, the Coronavirus (COVID-19) was
declared a global pandemic. Most services provided by the Organization were shut down during
March, 2020 and have been ramping back up since then. Future potential impacts may include
continued disruptions or restrictions on the Organization's employees' ability to work and
impairment of the Organization's ability to provide services. Management is carefully monitoring
its options during this time. The future effects of these issues are unknown. No adjustments have
been made to these financial statements as a result of this uncertainty.
On June 1, 2022, the Organization entered into a $738,200 remodeling and addition contract for the
expansion of the Organization's childcare center. The Organization's plan is to pay for the contract
with funds provided by a $274,530 Iowa Workforce Development grant that was approved during
the year ended June 30, 2022, as well as refinancing the Organization's office building mortgage.
As of June 19, 2023 the contractor had completed the remodeling and addition project, the grant
funds had been received, and the mortgage had been refinanced. As part of the expansion of the
organization's childcare program, the administrative offices were moved to leased space effective
July 1, 2022.
-12-
THE ARC OF SOUTHEAST IOWA
Schedule of Program Service Revenue
Years Ended June 30, 2022 and 2021
2022 2021
Respite services
Medicaid billings $197,401 $274,324
Less estimated rate adjustments 0 0
Counties 0 0
Private 9,473 23,236
206,874 297,560
Supported living services
Medicaid billings
110,175
144,215
Less estimated rate adjustments
0
0
Other counties
5,829
9,324
Private
0
574
116,004
154,113
Consumer directed attendant care, billings
7,838
33,968
Less estimated rate adjustments
0
0
Private
0
0
7,838
33,968
Supported employment
396,739
298,867
Less estimated rate adjustments
0
0
396,739
298,867
Other services
Vocational rehabilitation services
6,448
25,898
Summer camp
17,494
45,374
Dayhab services
204,949
97,475
Site based services
62,181
7,009
291,072
175,756
Total program service revenue
$1,018,527
$960,264
The accompanying summary of significant accounting policies and notes
to financial statements are an integral part of these financial statements.
-13-
Salaries
Employee benefits
Payroll taxes
Workers' compensation ins.
Accreditation
Advertising and public relations
Awards and grants
Background checks
Depreciation
Employment advertising and recruiting
Equipment repairs
Insurance
Interest expense
Miscellaneous
Occupancy
Organization memberships
Postage
Professional fees
Purchase of service
Scholarship awards
Staff development
Supplies
Telephone and internet
Transportation
Totals
THE ARC OF SOUTHEAST IOWA
Schedule of Functional Expenses
Year Ended June 30, 2022
Consumer
Respite
Supported
Directed
Other
General
Care
Living
Attendant
Supported
Grants and
Fund-
and
Services
Services
Care
Emolovment
Programs
raisin_
Administrative
$124,331
$69,675
$4,743
$238,387
174,922
$0
$517,201
6,270
3,514
239
12,021
8,820
0
26,081
9,283
5,202
354
17,799
13,061
0
38,617
1,285
720
49
2,465
1,809
0
5,347
1,420
796
53
2,723
1,998
0
0
489
274
19
937
687
0
0
0
0
0
0
11,956
0
0
761
427
29
1,459
1,071
0
0
10,084
5,655
382
19,339
14,191
0
0
768
430
29
1,473
1,083
0
0
1,470
824
58
2,820
2,067
0
0
4,315
2,420
164
8,276
6,072
0
0
3,501
1,964
133
6,715
4,926
0
0
0
0
0
0
0
4,292
0
4,652
2,609
176
8,922
6,547
0
0
2,063
1,157
78
3,957
2,904
0
0
282
158
11
541
396
0
0
6,783
3,804
257
13,007
9,544
0
0
972
545
37
1,864
1,367
0
0
0
0
0
0
0
0
0
725
406
27
1,390
1,020
0
0
14,275
8,006
541
27,376
20,088
0
0
1,836
1,030
70
3,521
2,583
0
0
2,183
1,224
83
4,186
3,071
0
0
$197,748
$110,840
$7,532
$379,178
$290,183
$4,292
$587,246
The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these financial statements.
Total
$1,129,259
56,945
84,316
11,675
6,990
2,406
11,956
3,747
49,651
3,783
7,239
21,247
17,239
4,292
22,906
10,159
1,388
33,395
4,785
0
3,568
70,286
9,040
10,747
$1,577,019
-14-
Salaries
Employee benefits
Payroll taxes
Workers' compensation ins.
Accreditation
Advertising and public relations
Awards and grants
Background checks
Depreciation
Employment advertising and recruiting
Equipment repairs
Insurance
Interest expense
Miscellaneous
Occupancy
Organization memberships
Postage
Professional fees
Purchase of service
Scholarship awards
Staff development
Supplies
Telephone and internet
Transportation
Totals
THE ARC OF SOUTHEAST IOWA
Schedule of Functional Expenses
Year Ended June 30, 2021
Consumer
Respite
Supported
Directed
Other
General
Care
Living
Attendant
Supported
Grants and
Fund-
and
Services
Services
Care
Employment
Proeams
raising
Administrative
$141,392
$73,175
$16,162
$141,987
83,487
$0
$535,324
6,768
3,502
774
6,796
3,996
0
25,622
11,574
5,990
1,323
11,622
6,834
0
43,818
1,946
1,007
222
1,955
1,149
0
7,370
1,915
992
219
1,924
1,131
0
0
227
117
26
228
134
0
0
0
0
0
0
38,943
0
0
1,088
564
124
1,093
643
0
0
12,838
6,649
1,466
12,891
7,581
0
0
333
172
38
334
197
0
0
5,615
2,908
641
5,639
3,316
0
0
5,773
2,990
659
5,797
3,410
0
0
5,749
2,977
657
5,773
3,395
0
0
0
0
0
0
0
3,990
0
7,756
4,017
886
7,789
4,581
0
0
2,844
1,473
325
2,856
1,680
0
0
725
376
83
729
428
0
0
10,381
5,377
1,186
10,425
6,130
0
0
1,748
905
200
1,755
1,033
0
0
0
0
0
0
0
0
0
1,453
752
166
1,459
857
0
0
14,457
7,487
1,651
14,517
8,537
0
0
2,621
1,357
299
2,632
1,547
0
0
3,190
1,652
364
3,204
1,885
0
0
$240,393
$124,439
$27,471
$241,405
$180,894
$3,990
$612,134
The accompanying summary of significant accounting policies and notes to financial statements are an integral part of these financial statements.
Total
$991,527
47,458
81,161
13,649
6,181
732
38,943
3,512
41,425
1,074
18,119
18,629
18,551
3,990
25,029
9,178
2,341
33,499
5,641
0
4,687
46,649
8,456
10,295
$1,430,726
-15-