The Living Desert Financial Statements (word)-1

THE LIVING DESERT Financial Statements Year ended June 30, 2018 (With Independent Auditors' Report Thereon)

THE LIVING DESERT Financial Statements Year ended June 30, 2018

TABLE OF CONTENTS

Independent Auditors' Report Financial Statements:

Statement of Financial Position Statement of Activities Statement of Functional Expenses Statement of Cash Flows Notes to the Financial Statements

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3 4 5 7 8

Board of Trustees The Living Desert Palm Desert, California

Independent Auditors' Report

Report on the Financial Statements

We have audited the accompanying financial statements of The Living Desert (the "Organization"), which comprise the statement of financial position as of June 30, 2018, and the related statement of activities, functional expenses and cash flows for the year then ended, and related notes to the financial statements.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors' Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

1

THE LIVING DESERT Statement of Financial Position

Year ended June 30, 2018 (w ith comparative totals as of June 30, 2017)

Assets

Cash and cash equivalents (note 2c) Investments (note 3) Pledges receivable, net (note 4) Other receivables Prepaid expenses Beneficial interest in trusts and

insurance assignments (note 6) Land, buildings and equipment, net (note 7)

Total assets

Liabilities and Net Assets

Accounts payable Accrued expenses Unearned revenue and deposits (note 2k) Notes payable (note 8)

Total liabilities

Net assets (note 11): Unrestricted: Undesignated Board designated Total unrestricted net assets

Temporarily restricted (note 10) Permanently restricted

Total net assets

Total liabilities and net assets

2018

$ 6,202,098 44,644,556 7,380,266 192,913 132,077

196,236 23,218,580 $ 81,966,726

$

389,602

763,545

1,038,430

3,000,000

5,191,577

2017

10,529,476 37,398,739

5,176,165 133,863 263,820

1,368,957 18,400,839 73,271,859

380,451 655,388 976,794 3,000,000 5,012,633

22,446,467 7,540,193

29,986,660 10,899,968 35,888,521 76,775,149

$ 81,966,726

19,651,313 5,953,771

25,605,084 6,880,603

35,773,539 68,259,226

73,271,859

See accompanying notes to financial statements 3

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