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<br /> HOMELESS ASSISTANCE CENTER, INC .
<br /> Notes to Financial Statements
<br /> During the years ended June 30 , 2002 and 2001 , the Organization received $ 25 , 000 and
<br /> $ 20, 000 , respectively, in private grants for the purpose of funding a housing and support
<br /> services case worker . The amounts earned as of June 30 , 2002 and 2001 amounted to
<br /> $ 12 , 860 and $ 6 , 580 , respectively .
<br /> During the year ended June 30 , 2002 , the Organization received a $ 36 , 688 private grant
<br /> for the purpose of purchasing various furnishings and equipment for the Organization ' s
<br /> homeless shelter. The grant was unexpended as of June 30 , 2002 .
<br /> (10) Functional Expenses
<br /> The Organization provides assistance services to poverty level and homeless individuals ,
<br /> consisting of food and clothing distribution, hot showers and laundry facilities , crises
<br /> intervention and referral, as well as dormitory space for the homeless .
<br /> Expenses incurred were for the following :
<br /> 2002 2001
<br /> General community support $ 362 , 518 3215401
<br /> General and administrative 96 , 503 73 , 699
<br /> Fundraising 64 , 327 29 ,618
<br /> $ 523 , 348 4241718
<br /> (11) Subsequent Events
<br /> In July 2002 , the Organization received a $ 25 ,000 grant from Indian River County for the
<br /> purpose of providing a children arts program. In addition, in September 2002 , Indian
<br /> River County renewed its operational grant for $ 55 , 336 . The grants run from October 1 ,
<br /> 2002 to September 30, 2003 .
<br /> On August 19 , 2002 , the Organization received a $ 75 , 000 grant from DCF for the
<br /> purpose of providing rental assistance to homeless families in DCF District 15 . The grant
<br /> provides funding on a reimbursement basis and expires on June 30 , 2003 .
<br /> HUD has awarded an additional $210 , 191 grant, named "Family Options Transitional
<br /> Housing Supportive Services Team," to the Indian River Homeless Services Council , Inc .
<br /> and Indian River County, Florida for the purpose of providing additional funding for
<br /> supportive services staff for the Organization' s homeless shelter (see note 9) . The
<br /> contract for this grant was approved by HUD in August 2002 and approved by Indian
<br /> River County on September 3 , 2002 . The Organization has committed a total of $ 40 , 000
<br /> over the next three years in matching funds that are required under the contract.
<br /> On September 19 , 2002, the Organization forwarded $ 40 ,000 to Indian River County to
<br /> fulfill the required matching under the $293 , 878 HUD contract discussed in note 9 .
<br /> On August 31 , 2002 , the Organization' s line of credit arrangement was renewed for
<br /> $ 70 ,000 and extended to August 31 , 2003 .
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