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2004 Financial Statement
STATEMENT OF CONDITION AS OF DECEMBER 31, 2004


MOVEMENT OF CASH

CASH IN    
Balance as of December 31, 2003 $91,769
Donations Received $827,286   (1)
List Rental and Royalty Income $13,631
Gain on Investment $12,352
TOTAL: $945,038  


CASH OUT
Ads in Media $416,738
Direct Mail – Acquisitional $17,598
Direct Mail – Educational $26,397
Donor Relations $7,645
Website $14,200   (2)
Philanthropies (Tsedakah) $10,000   (3)
Typing, Printing and Reproduction $8,311
Accounting $1,599
Office Expenses $49,395   (4)
Management, Advertising and Professional Services N/C   (5)
Investment (Smith Barney) $372,941   (6)
Cash in Bank as of December 31, 2004 $20,214
TOTAL: $945,038  


BALANCE SHEET


ASSETS
Cash in Bank, as of December 31, 2004 $20,214
Investment in Smith Barney account $372,941   (6)
Computer Software $1,543
TOTAL ASSETS: $394,698  


NET WORTH
TOTAL NET WORTH: $394,698  

(1) Additional donations deferred and to be reported in future periods.

(2) Contribution to office expense of Infocom Group (James Sinkinson, President).

(3) Contribution to two donor-advised funds at the Jewish Community Federation of San Francisco.

(4) Includes monthly contribution to office expenses and (reduced) commission on advertising placed by Jomira/Advance (Gerardo Joffe, President).

(5) Contributed by Gerardo Joffe. FLAME has paid no executive or managerial salaries since its inception.

(6) Additional investment in this account deferred and to be reported in future periods.


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