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CATHOLIC CHARITIES OF THE <br /> , <br /> DIOCESE OF PALM BEACH, INC. <br /> E <br /> NOTES TO FINANCIAL STATEMENTS <br /> June 30, 2002 and 2001 <br /> i <br /> r <br /> NOTE E - NET ASSETS RELEASED FROM RESTRICTIONS <br /> iNet assets were released from donor restrictions by incurring expenses or purchasing assets satisfying the <br /> restricted. purposes . Satisfaction of program restrictions for the years ended June 30, 2002 and 2001 were <br /> as follows : <br /> 2002 2001 <br /> Counseling $ 10,543 $ 71999 <br /> Maurawood Community Outreach 16,293 3,463 <br /> Crisis Pregnancy Centers 2,285 18,661 <br /> Shelters and Residences 17,096 59,624 <br /> I Outreach 138,978 . 51,446 <br /> Central Office 19,260 10,260 <br /> F <br /> Total board designated net assets $ 204.455 $ 151 .453 <br /> NOTE F - PENSION PLAN <br /> The Organization is a participant in the Diocese of Palm Beach Defined-Benefit Pension Plan (the "flan"). <br /> The Plan is a noncontributory benefit plan, which covers eligible employees of the Organization. Due to <br /> the nature of the Plan, it is not practicable to determine the extent to which the assets of the plan cover the <br /> actuarially computed value of vested benefits for the Organization alone. The Organization recognized as <br /> net pension cost the required contribution for the period. In addition, because it is considered a multi- <br /> employer plan; it is not subject to the reporting requirements of Statement of Financial Accounting <br /> Standard ("SFAS") No. 87, Employers' Accounting for Pensions, as amended by SFAS No. 132, Employers' <br /> Disclosures about : Pensions and. Other . Postretirement Benefits. The total contributions to the Plan were <br /> $140,299 and $121,372 in 2002 and 2001, respectively. <br /> NOTE G - SUPPORT FROM OUTSIDE ORGANIZATIONS <br /> The Organization receives a substantial . amount of its support from the United Way and government <br /> grants and contracts. Combined, these contributions totaled 28 % and 19 % of the Organization's public <br /> support and revenues in fiscal years 2002 and 2001, respectively. A significant reduction in the level of <br /> support from these organizations, if it were to occur, may have a material effect on the Organization's <br /> programs and activities. <br /> NOTE H - COMi\RTMENTS AND CONTINGENCIES <br /> Leases: The Organization leases office space and equipment under various operating leases. Future <br /> Minimum payments under non-cancelable operating leases with initial or remaining terms of one year or <br /> more are as follows : <br /> 15 <br />