IOA Annual Report 2022

ANNUAL REPORT 2022

STATEMENT OF FINANCIAL POSITION DECEMBER 31, 2021 (With summarized nancial information for December 31,2020)

ASSETS Cash and cash equivalents

2020 (NOTE 15) $ 159,478

2021 $ 127,935

Accounts receivable

193,893

17,828

Prepaid expenses

6,340

5,299

Investments

11,744,425

12,955,534

Property and equipment, net

2,945,360

2,864,928

TOTAL ASSETS

$ 15,049,496

$ 15,971,524

LIABILITIES AND NET ASSETS Liabilities:

$ 108,197

$ 93,480

Accounts payable and accrued expenses

-

164,217

Refundable advance

4,640

4,640

Deferred revenue

18,822

5,143

Capital lease payable

131,659

267,480

TOTAL LIABILITIES

Commitments (Note13)

Net assets:

6,021,913

5,197,623

Without donor restrictions

9,817,952

9,584.393

With donor restrictions

15,839,865 $ 15,971,524

14,782,016 $ 15,049,496

Total net assets Total liabilities and net assets

20