Overflow

“Rental Income 19,159”

“Travel 3,397”

“Meals and entertainment 1,856”

“Conferences, conventions, and meetings 536”

“Equipment rental and maintenance 4,118”

“Telephone 1,024”

“Depreciation 3,211”

“Business Registration Fees 100”

“Books and Subscriptions 43”

“Property Insurance 843”

“Real Estate Taxes 2,736”

“Supplies 226”

“Bank Service Charges 189”

“Furnishings 314”

“Out Reach 213”

“Contributions 31,259”

“Gifts 675”

“Lewis House 10 420”

“Marketing 1,975”

“Transformation Center 10 5,478”

“D and O Liability Insurance 2,670”

“Membership Dues 150”

“2022 Beginning Balance of Fixed Assets for Overflow was 73,343.12. During 2022, Overflow added new fixed assets of 21,784.57. During 2022, Overflow donated fixed assets to a new not-for-profit entity, True North Toledo Chruch in the amount of 35,078.98. With this addition and donation, Overflows ending fixed asset balance was 60,048.71. For Accumulated Depreciation, Overflows beginning balance was 13,396.00. Total Depreciation expense for 2022 for Overflow was 3,211.00. The accumulated depreciation of the donated assets to True North Toledo Church was 3,820.00, making the 2022 Ending Balance for Accumulated Depreciation for Overflow to be 12,787.00. So the 2022 Ending Balance of Fixed Assets minus Accumulated Depreciation is 47,261.71. Beginning of year 59,947, End of year 47,262”

“In other expenses, there is an expense called contributions in the amount of 31,258.98. Overflow donated or contributed these fixed assets to the new not-for-profit organization True North Toledo Church EIN 87-3794420 in 2022. The total cost of these fixed assets was 35,078.98 minus accumulated depreciation of 3,820.00 to get the total contribution amount of 31,258.98.”