Finances

Individuals

74,128$

Program

197,965$

Churches

180,730

Staff Housing Project

77,055

Foundations & Organizations

10,380

Management & General

34,402

Other

3,218

Fundraising

11,648

1. Sufficient funds were raised to complete all commitments made to the Dumki facility.

2. Expenses were within budget with only 11% spent on management and 4% on fundraising.

3. Contributions and revenue came primarily from churches (67%), individuals (28%), and organizations (4%)

4. Disbursements exceeded revenue in 2007 due to the construction expenses of the staff housing project.

The staff housing funds had been collected in preceeding years.

5. The Board of Directors pledged to reimburse the ELCA/GM for payments made to the Dumki facility, in past years ,on LHCB-USA's behalf.

This $80,000 pledge, to be paid over four years, appears in the statement of financial position as a long term liability and a decrease in accumulated net assets.

6. The Board has adopted an ambitious and attainable budget for 2008 which will both decrease the liability caused by the pledge and replenish total net assets.

The complete annual financial report and the IRS 990 are available upon request.

                                                                       Dec 31,2007

                           Dec. 31, 2006

ASSETS

Cash and Cash Equivalents

47,235$

85,258$

Pledges Receivable

116,845

129,824

Prepaid Expenses

654

-

Equipment - Net

1,355

1,958

TOTAL ASSETS

2,009

1,958

LIABILITIES

Accounts Payable & Accrued Expenses

1,213

-

Deferred Program Income

70,000

70,000

Long Term Program Obligation

80,000

-

Total Liabilities

151,213

70,000

NET ASSETS

Temporarily Restricted Net Assets

60,298

98,419

Unrestricted Net Assets

34,578

48,621

Designated Program Obligation

(80,000)

-

Total Net Assets

14,876

147,040

TOTAL LIABILITIES AND NET ASSETS

166,089$

217,040$