Marion Medical Mission Home
THOMAS W. VAN HORN, JR. |
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114 SOUTH VICKSBURG STREET |
January 12, 1998
Mr. Thomas J. Logan, President
Marion Medical Mission
1412 Shawnee Drive
Marion, Illinois 62959
Dear Mr. Logan:
This letter is to inform you that I have reviewed the accounting records and financial statements of Marion Medical Mission for the year ended June 30, 1997 and have found no problems. It appears that the financial statements correctly state the cash balances and results of operations for that fiscal year. This was done in conjunction with the preparation of IRS Form 990. I review the accounting records and prepare Form 990 on an annual basis.
Also, please note in the statement of revenues and expenses that all administrative costs are covered by separate contributions from the officers and directors of Marion Medical Mission. Any contributions received from churches and other individuals go 100 percent to the mission field. As a matter of fact, there was actually $50 in net revenue from administrative and travel items.
I hope this information will be sufficient for your files. If you have any questions, please contact me.
Very truly yours,
Thomas W. Van Horn, Jr.
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MARION MEDICAL MISSION
BALANCE SHEET - JUNE 30, 1997
ASSETS
| Cash in Bank, General Account | $53,889 |
| Cash in Bank, Administration Account | 1,126 |
| Escrow, designated education fund | 407 |
TOTALS |
$55,422 |
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LIABILITIES AND FUND BALANCE
| Accounts payable | $5,017 |
| Fund Balance | 50,405 |
TOTALS |
$55,422 |
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MARION MEDICAL MISSION
STATEMENT OF REVENUES AND EXPENSES
YEAR ENDED JUNE 30, 1997
| Revenues: | |||||
| Contributions: | |||||
| General | $41,151 | ||||
| Hospital | 1,380 | ||||
| Shallow wells | 22,720 | ||||
| Schools | 17,647 | ||||
| Churches | 5,992 | ||||
| Designated | 250 | ||||
| Freight | 2,557 | ||||
| Interest income | 727 | ||||
| Cash Revenues | $92,424 |
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| Donations in kind: | |||||
| Estimated value of medical supplies and hospital equipment |
$12,250 |
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| Administration and mission travel: | |||||
| Reimbursements from mission team | $4,438 | ||||
| Administration and travel expense | ($4,388) | $50 |
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| Total Revenues | $104,724 |
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| Mission expenses: | |||||
| Hospital supplies and medicines | $3,971 | ||||
| Shallow well supplies | 22,732 | ||||
| Chizimya Full Primary School | 6,200 | ||||
| Embangweni School for Deaf Children | 10,000 | ||||
| School Supplies | 659 | ||||
| Nursing School | 13,100 | ||||
| Churches | 5,982 | ||||
| Designated | 258 | ||||
| Air freight (hospital, school, well supplies) | 4,384 | ||||
| Cash Expenses | $67,286 |
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| Donations-In Kind: | |||||
| Delivery of medicines, supplies, equipment to Malawi,Africa | $12,250 |
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| Total Mission Expenses | $79,536 |
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| Net revenues over (under) expenses | $25,188 | ||||
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