F L A M E : 2003 Financial Statement

2003 Financial Statement
STATEMENT OF CONDITION AS OF DECEMBER 31, 2003

MOVEMENT OF CASH

CASH IN

Balance as of December 31, 2002 $2,160

Donations Received $654,760

List Rental and Royalty Income $18,056

TOTAL: $674,976

CASH OUT

Loan Repayments (Gerardo Joffe and Jomira/Advance) $43,250(1)

Ads in Media $284,795

Direct Mail – Acquisitional $75,350

Direct Mail – Educational $108,025

Philanthropies (Tsedakah) $11,400(2)

Office Expenses (including outside services) $58,594(3)

Accounting $1,793

Management, Advertising and Professional Services N/C (4)

Cash in Bank as of December 31, 2003 $91,769

TOTAL: $674,976

BALANCE SHEET

ASSETS

Cash in Bank, as of December 31, 2003 $91,769

Computer Software $1,543

TOTAL ASSETS: $93,312

LIABILITIES AND NET WORTH

TOTAL LIABILITIES AND NET WORTH: $93,312

(1) Interest-free loan.

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

(3) Includes monthly contribution to office expenses and (reduced) commission on advertising placed by Jomira/Advance (Gerardo Joffe, President), and contribution to office expense of Infocom Group (James Sinkinson, President).

(4) FLAME has paid no executive and managerial salaries since its inception and operates with minimum overhead expenses.

NOTE: FLAME has paid no executive and managerial salaries since its inception and operates with minimum overhead expenses.