safari game search foundation dba wildlife safari...wildlife safari (a non-profit organization),...

SAFARI GAME SEARCH FOUNDATION

dba WILDLIFE SAFARI

FINANCIAL STATEMENTS

YEAR ENDED SEPTEMBER 30 2015 with Comparative Totals For 2014

SAFARI GAME SEARCH FOUNDATION dba WILDLIFE SAFARI

YEAR ENDED SEPTEMBER 30 2015

TABLE OF CONTENTS

INDEPENDENT AUDITORS REPORT


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

1 - 2

3-4 5-6 7-8

9 - 10 11 - 20

3JR NE iillcillster Post Office Box 2350wicks

emmett~ Roseburg OR 97470 CERTIFIED PUBLIC

ACCOUNTANTS ()41) 673-4423

Fax rS41) 673-0287

wwwwicksemmettcom


To the Board of Directors Safari Game Search Foundation

dba Wildlife Safari Winston Oregon

We have audited the accompanying financial statements of Safari Game Search Foundation dba Wildlife Safari (a non-profit organization) which comprise the statement of financial position as of September 3D 2015 and the related statements of activities functional expenses and cash flows for the year then ended and the related notes to the financial statements

Managements 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 from 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 entitys 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 entitys 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 qualified audit opinion

1

Basis for Qualified Opinion

As explained in Note 6 to the financial statements the Foundation has not capitalized the value of certain animals on exhibit In our opinion accounting principles generally accepted in the United States of America require that such amounts be capitalized in their entirety The effects on the accompanying financial statements of the failure to capitalize the value of certain animals on exhibit have not been determined

Qualified Opinion

In our opinion except for the effects of the matter described in the Basis for Qualified Opinion paragraph the financial statements referred to above present fairly in all material respects the financial position of Safari Game Search Foundation as of September 30 2015 and the changes in its net assets and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America

Report on Summarized Comparative Information

We have previously audited the Safari Game Search Foundations 2014 financial statements and we expressed a qualified opinion on those audited financial statements in our report dated May 20 2015 In our opinion the summarized comparative information presented herein as of and for the year ended September 30 2014 is consistent in all material respects with the audited financial statements from which it has been derived See Note 1 N

Roseburg Oregon February 22 2016

2


SAFARI GAME SEARCH FOUNDATION DBA WILDLIFE SAFARI STATEMENT OF FINANCIAL POSmON

SEPTEMBER 30 2015 With Comparative Totals for 2014

2015 2014

ASSETS

CURRENT ASSETS

Cash and Cash Equivalents $ 250042 $ 310863 Accounts Receivable 69013 69272 Employee Receivables 855 (239) Grants and Pledges Receivable 50000 Deferred Payment - Social Media 1252 Inventories 201503 198285 Prepaid Expenses 93208 83690 Cash Held for Investment Purposes 1054315 26094

Total Current Assets 1720188 687965

PROPERTY AND EQUIPMENT NET 2467580 2185450

OTHER ASSETS

Interest in Assets Held by Oregon Community Foundation 910026 998324

Investments 2569 1539827 Animals on Exhibit 529363 529363

Total Other Assets 1441958 3067514

TOTAL ASSETS $ 5629726 $ 5940929

The accompanying notes are an integral part of these financial statements

3

SAFARI GAME SEARCH FOUNDATION DBA WILDLIFE SAFARI STATEMENT OF FINANCIAL POSmON (Continued)


2015 2014

LIABILITIES AND NET ASSETS

CURRENT LIABILITIES Accounts Payable - Gift Shop $ 21797 $ 34432 Accounts Payable 81108 59731 Payroll and Other Accrued Expenses 73189 74309 Compensated Absences Payable 42733 34909 Other Payables 4492 3265 Gift Cards Outstanding 446 Intern Housing Deposits 500 450 Secured Note Payable 26069 250141 Current Portion Long-Term Debt 61894 54465

Total Current Liabilities 312228 511702

LONG-TERM LIABILITIES Long-Term Debt Net of Current Portion 228934 260778

Total Long-Term Liabilities 228934 260778

Total Liabilities 541162 772480

NET ASSETS

Unrestricted 4004942 3916096 Temporarily Restricted 1083622 1252353

Total Net Assets 5088564 5168449

TOTAL LIABILITIES AND NET ASSETS $ 5629726 $ 5940929


4

SAFARI GAME SEARCH FOUNDATION DBA WILDLIFE SAFARI STATEMENT OF ACTIVITIES

FOR THE YEAR ENDED SEPTEMBER 30 2015 With Comparative Totals for 2014

Temporarily

Unrestricted Restricted 2015 Totals 2014 Totals

REVENUE GAINS AND OTHER SUPPORT

REVENUE Admissions and Auxiliary Activities $ 2717420 $ $ 2717420 $ 2392426

Membership Revenues 264888 264888 246369

Gift Shop Photos and Brochure Sales 670782 670782 555304

Less Cost of Goods Sold 287(123) 287(123) 226286)

Gross Margin on Gift Shop Photos and

Brochures 383659 383659 329018

Food Concession Revenue 371219 371219 299898

Less Cost of Goods Sold (142474) 142474) 113(681)

Gross Margin on Food Concession 228745 228745 186217

PUBLIC SUPPORT Contributions 118879 85818 204697 131514 Special Event Revenue 64411 99550 163961 168646 Grants and Contracts 117823 117823 135450 In-Kind Revenue 244661 244661 203610

OTHER GAINS AND REVENUE

Investment Income 40924 40924 39309 Value of Camp Tickets Redeemed 34846 34846 39665 Animal Sales 2000 Other Income 9462 9462 33801

Revenue Gains and Other Support 3863234 547852 4411086 3908025

NET ASSETS RELEASED FROM RESTRICTIONS Satisfaction of Purpose Restrictions 670430 (670430)

Total Revenue Gains and Other Support 4533664 122578) 4411086 3908025


5

SAFARI GAME SEARCH FOUNDATION DBA WILDLIFE SAFARI STATEMENT OF ACTIVmES (Continued)


Temporarily


EXPENSES AND LOSSES

PROGRAM SERVICES

Public Exhibits $ 2304804 $ - $ 2304804 $ 1990884

Educational 89705 89705 90225 Auxiliary Services 545539 545539 515261

Indirect Program Services 576621 576621 495651

SUPPORT SERVICES

Management and General 625732 625732 570177

Fundraising 191972 191972 189421

Total Operating Expenses 4334373 4334373 3851619

INCOME (LOSS) PRIOR TO OTHER GAINS AND LOSSES 199291 (122578) 76713 56406

OTHER GAINS AND LOSSES

Investment Expense (16293) (8190) (24483) (27769) Realized Gain (Loss) on Investments (78693) (8481) (87174) 75735 Endowment Earnings 9325 9325 10634

Unrealized Gain (Loss) on Investments (2746) (38807) (41553) 108796

(Gain) Loss on Disposal of Assets (12713) (12713) (3852)

Total Other Gains and Losses (110445) (46153) (156598) 163544

CHANGE IN NET ASSETS 88846 (168731) (79885) 219950

NET ASSETS BEGINNING OF YEAR 3916096 1252353 5168449 4948499

NET ASSETS END OF YEAR $ 4004942 $ 1083622 $ 5088564 $ 5168449


6

7

SAFARI GAME SEARCH FOUNDATION DBA WILDLIFE SAFARI

STATEMENT OF FUNCTIONAL EXPENSES FOR THE YEAR ENDED SEPTEMBER 30 2015

With Comparative Totals for 2014

Program Services Indirect Total

Public Auxiliary Program Program Exhibits Education Services Services Services

Salaries amp Wages $ 910334 $ 61503 $ 285378 $ 263993 $ 1521207 Other Personnel Costs 154462 12968 32875 53491 253796 Contracts amp Services 2396 144745 147141 Advertising amp Marketing 364615 485 12015 377115 Advertising amp Marketing (Non-Cash) 214200 10000 224200 Office Expenses 39404 716 7395 3859 51374 Operating Supplies 21074 5898 2036 29008 Travel amp Conferences 12583 12583 Animal Expense 328538 3373 1083 332994 Other Program Expense 9846 1368 (881) 10334 Feed Cups 10511 10511 Conservation Gift 5000 5000 Developments amp Fundraising 110 110 Special Events amp Guest Encounter Expenses 20044 124 17 805 20991 Vehicle Equipment amp Maint 48721 499 16990 143690 209900 Utilities 63408 8669 14507 57928 144513 Taxes amp Insurance 365 365 Small Equipment Purchases Depreciation 110038 15005 40442 165485 Interest Expense 28 12 40 Bad Debt amp Credit Card amp Other Fees 2 2

Total Expenses $ 2304804 $ 89705 $ 545539 576621 $ 3516669~


Su~~ort Services Management 2015 2014

and Total Total

General Fundraising Ex~enses Expenses

Salaries amp Wages $ 292429 $ 62659 $ 1876296 $ 1697503 Other Personnel Costs 93424 12290 359510 306515 Contracts amp Services 25145 30000 202286 188321 Advertising amp Marketing 371 1380 378866 332487 Advertising amp Marketing (Non-Cash) 9045 233245 150960 Office Expenses 34153 4657 90184 71991 Operating Supplies 37 41 29086 74109 Travel amp Conferences 5403 3880 21866 29309 Animal Expense 15429 29907 378329 333046 Other Program Expense (1902) (14) 8418 3763 Feed Cups 10511 20807 Conservation Gift 11479 16479 6450 Developments amp Fundraising 26708 26818 22335 Special Events amp Guest Encounter Expenses 397 4453 25842 26387 Vehicle Equipment amp Maint 2279 2946 215124 152442 Utilities 4001 190 148704 133486 Taxes amp Insurance 67449 67814 74857 Small Equipment Purchases 1050 Depreciation 4937 3831 174253 160465 Interest Expense 20022 20062 21884 Bad Debt amp Credit Card amp Other Fees 50680 50682 43452

Total Expenses $ 625732 $ 191972 $ 4334373 $ 3851619

8

SAFARI GAME SEARCH FOUNDATION DBA WILDLIFE SAFARI STATEMENT OF CASH FLOWS


2015 2014

CASH FLOWS FROM OPERATING ACTIVITIES

Change in Net Assets

Adjustments to Reconcile Increase in Net Assets to Net Cash

Provided by (Used in) Operating Activities

Contributed Vehicles Equipment and Investments

Depreciation

Bad Debt Expense

Forgiveness of Debt Income

(Gain) Loss on Disposal of Property

Unrealized Net (Gain) Loss on Investments

Realized Net (Gain) Loss on Sales of Investments

(Increase) Decrease in

Accounts Receivable

Employee Receivables

Prepaid Expenses

Inventories

Grants and Pledges Receivable

Deferred Payment - Social Media

Interest in Assets Held by OCF

Increase (Decrease)

Accounts Payable

Payroll and Other Accrued Expenses

Accrued Interest Payable

Compensated Absences Payable

Other

$ (79885)

(46426)

174253

12713

2746

78694

259

(1094)

(9518)

(3218) (50000)

(1252)

88298

8744

(1121)

7824

1722

$ 219950

(96860)

160465

1481

3852

(46711)

(55491)

12554

971

14956

(18860) 10000

(43278)

13353

11065

(3382)

2685

Net Cash Provided By (Used In) Operating Activities 182739 186750

CASH FLOWS FROM INVESTING ACTIVITIES

Purchase of Capital Assets (399554) (246619)

Proceeds from the Sale of Property

Net Cash from Sales (for Purchases) of Investments 432912 6628

112099

Net Cash Provided By (Used In) Investing Activities 33358 (127892)

CASH FLOWS FROM FINANCING ACTIVITIES

Net Borrowings (Repayments) of

Secured Note Payable

Long-Term Debt

(224072)

52846)

148935

46551)

Net Cash Provided By (Used In) Financing Activities 276918) 102384

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (60821) 161242

CASH AND CASH EQUIVALENTS Beginning 310863 149621

CASH AND CASH EQUIVALENTS Ending $ 250042 $ 310863


9

SAFARI GAME SEARCH FOUNDATION DBA WILDLIFE SAFARI STATEMENT OF CASH FLOWS (Continued)


2015 2014

SUPPLEMENTAL CASH FLOW INFORMATION

Cash Paid During Year for Interest $ 20065 $ 21670

SCHEDULE OF NON-CASH INVESTING AND FINANCING TRANSACTIONS

Purchase of Equipment through

Long-Term Debt $ 28430 $ 10000

Receipt of Donation of Equipment $ 41112 $ 63000

Receipt of Donation of Marketable Securities $ 5314 $ 33860


10

NOTES TO FINANCIAL STATEMENTS



NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

A NAlURE OF ACITVrnES Safari Game Search Foundation (the Foundation) is a non-profit foundation dedicated to education research rehabilitation of native wildlife and the preservation and breeding of rare and endangered species The Foundation owns and operates Wildlife Safari a 600-acre preserve (the Park) located in Winston Oregon that is accredited by the Association of Zoos and Aquariums The Foundation also operates a gift shop and snack shop at the preserve site

B BASIS OF ACCOUNTING The financial statements of the Foundation have been prepared on the accrual basis of accounting whereby revenues are recognized when earned and expenditures are recognized when incurred

C FINANCIAL STATEMENT PRESENTATION Financial statement presentation follows the recommendations of the Financial Accounting Standards Board in its Accounting Standards Codification 958 (formerly the Statement of Financial Accounting Standards No 117 Financial Statements ofNot-far-Profit Organizations)

The Foundation is required to report information regarding its net assets and revenues expenses gains and losses which are classified based on the existence or absence of donor-imposed restrictions Accordingly net assets of the Foundation and changes therein are classified and reported as one of three classes of net assets unrestricted net assets temporarily restricted net assets and permanently restricted net assets A description of the three net asset categories follows

Unrestricted net assets Net assets that are not subject to donor-imposed stipulations

Temporarily restricted net assets Net assets subject to donor-imposed stipulations that mayor will be met either by actions of the Foundation andor the passage of time When a restriction expires temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities as net assets released from restrictions

Permanently restricted net assets Net assets subject to donor-imposed restrictions that they be maintained permanently by the Foundation No permanently restricted assets were held during the year ended September 30 2015 and accordingly these financial statements do not reflect any activity related to this class of assets

11


NOTES TO FINANCIAL STATEMENTS (CONTINUED)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

D CASH AND CASH EQUIVALENTS AND CASH HELD FOR INVESTMENT PURPOSES For purposes of the statement of cash flows the Foundation considers all highly liquid debt instruments purchased with an original maturity of three months or less to be cash equivalents However all cash and cash equivalents held in the Foundations investment account with DA Davidson has been designated by the board of directors to be for investment purposes and is excluded from cash and cash equivalents in the statement of cash flows These assets are presented separately in the other assets section of the statement of financial position as cash held for investment purposes

E ALLOWANCE FOR DOUBTFUL ACCOUNTS AND ACCOUNTS PAST DUE The allowance method is used to provide for uncollectible accounts receivable It is managements opinion that no material uncollectible amounts are included in accounts receivable grants receivable or pledges receivable Therefore no provision for doubtful accounts has been recorded in these financial statements At September 30 2015 the balance of accounts receivable past due ninety days or more was $0

F GRANTS AND PLEDGES RECEIVABLE Grants receivable represent amounts that have been earned by the Foundation under existing grant agreements and for which purpose or timing restrictions have been met Pledges receivable represent unconditional promises made by donors to give to the Foundation Such amounts are recorded as contribution revenue at the time the unconditional promise is made with an allowance made for estimated uncollectible amounts as considered necessary The balance of pledges receivable at September 30 2015 was $0

G INVENTORIES Inventories consist primarily of gift shop articles Inventories are stated at lower of cost or market and are expensed using the first-in first-out method

H LAND BUILDINGS AND EQUIPMENT Donations of land buildings and equipment are recorded as support at the assets estimated fair value Such donations are reported as unrestricted support unless the donor has restricted the donated asset to a speCific purpose Assets donated with explicit restrictions regarding their use and contributions of cash that must be used to acquire property and eqUipment are reported as restricted support Absent any donor stipulations regarding how long those donated assets must be maintained the Foundation reports expirations of donor restrictions when the donated or acquired assets are placed in service as instructed by the donor The Foundation reclassifies temporarily restricted net assets to unrestricted net assets at that time Purchased land buildings and equipment are stated at cost and contributed assets are stated at fair value The Foundations policy is to capitalize land building and equipment additions which exceed $1000 individually and which have an estimated useful life of over one year

12




H LAND BUILDINGS AND EOUIPMENT (Continued) Expenditures for maintenance repairs and minor renewals are charged to expense as incurred major betterments and renewals are capitalized Upon retirement or sale the cost of the asset and accumulated depreciation are removed from the accounts and resulting gains or losses are recognized in the statement of activities Land improvements buildings and equipment are depreciated using the straight-line method over various lives which range from 3 to 40 years The amount of depreciation and amortization expense recognized during 2015 was $174253

1 DONATED SERVICES AND MATERIALS The Foundation recognizes as revenues in the period received the fair value of donated services requiring specialized skills that are provided by individuals possessing those skills and that would be purchased if not provided by donation The Foundation determines the fair value of donated services based on pay scales for comparable paid services Donated services and materials with a fair value of $244661 have been received throughout the Foundations programs and have been recognized as revenue in 2015

The Foundation also receives a significant amount of donated services from unpaid volunteers who assist in a variety of activities The value of donated volunteer services is not reflected in the accompanying financial statements since the volunteers time does not meet the criteria necessary for recognition Volunteer services donated for the year ended September 30 2015 totaled approximately 24617 hours

J INCOME TAX STATUS Under Section 501(c)(3) of the Internal Revenue Code The Foundation is exempt from taxes on income other than unrelated business income The Foundation had no unrelated business income during the year ended September 30 2015 and accordingly no provision for income taxes has been made The informational federal Form 990 is filed annually along with an annual state filing required by the Oregon Department of Justice The Foundations management is not aware of any uncertain tax positions which could affect their tax-exempt status or lead to a change in their tax liabilities At September 30 2015 the federal and state returns for the tax years 2011 through 2014 remained open to examination

K COMPLIMENTARY TICKET REVENUE Complimentary tickets are distributed by the Foundation to promote attendance and public relations The tickets are recorded as revenue when redeemed and are offset by recording a corresponding amount for advertising expense

L ADVERTISING COSTS Advertising costs are expensed as incurred and totaled $612111 in 2015 This total included inshykind donations of radiO television and billboard advertising valued at $233245 and the donation of complementary admission tickets valued at $34846 These in-kind expenses are reported as public exhibits expenses in the statement of functional expenses

13




M ESTIMATES The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period Actual results could differ from those estimates

N COMPARATIVE FINANCIAL INFORMATION The financial statements include certain prior-year summarized comparative information Such information is presented for comparative purposes only and does not include sufficient detail to constitute a complete presentation in conformity with certain generally accepted accounting principles relating specifically to nonprofit organizations Accordingly such information should be read in conjunction with the Foundations financial statements for the year ended September 30 2014 from which the summarized information was derived

O INVESTMENTS The Foundations investments at September 30 2015 consist of stocks and bonds recorded at fair value based on publicly traded security values These investments are bought and held principally for the purpose of selling them in the near term classifying them as trading securities with the change in fair value during the period included in earnings Generally for all trading securities fair value is determined by reference to quoted market prices and other relevant information generated by market transactions

NOTE 2 - CASH AND CASH EQUIVALENTS

Cash and cash equivalents consisted of the following at September 30 2015

Petty Cash $ 1850 Cash on Hand 10000 Undeposited Funds 2134 Checking Accounts amp Demand Deposits 236058

$ 250042 NOTE 3 - INVENTORIES

Inventories consisted of the following at September 30 2015

Gift Shop - Retail Goods Veterinary Clinic Medicines amp Supplies Employee Uniforms Animal Feed - Hay Inventory Restaurant Snack Shack

$ 102718 36068

5715 51505 4404 1093

$ 201503

14



NOTE 4 - LAND BUILDINGS AND EQUIPMENT

Activity related to the land buildings and equipment and accumulated depreciation accounts consisted of the following for the year ended September 30 2015

Land amp Improvements $ 1798729 Buildings 3088211 Furniture amp Equipment 612183 North American Expansion 393739 Vehicles 293085 Construction in Progress 89199 Total Assets 6275146 Less Accumulated Depreciation (3807566)

Property and Equipment Net $ 2467580

NOTE 5 - INTEREST IN ASSETS HELD BY OREGON COMMUNITY FOUNDATION

In 2000 the Foundation transferred restricted assets composed of investments to the Oregon Community Foundation (OCF) an Oregon nonprofit corporation in order to establish the Valpiani Cheetah Endowment Fund for the benefit of the Foundation These assets are restricted in purpose for the Foundations cheetah programs

Under the Valpiani Endowment trust agreement OCF shall distribute at least annually an appropriate percentage of the fair market value of the endowments to the Foundation The percentage distributed shall not be less than a reasonable rate of return The fair market value of the Foundations interest in assets held by OCF for the Valpiani Cheetah Endowment Fund totaled $39298 as of September 30 2015 The following is a summary of the Valpiani investment account activity

Beginning Balance $ 43331 Grants Approved amp Distributed (2036) Realized Gains 372 Realized Losses (736) Unrealized GainsLosses (1682) Investment Earnings 404 Investment Expenses (355) Ending Balance $ 39298

A second endowment fund was created in August 2006 upon the death of Mr Leonard Goodwin the sole-surviving grantor of a charitable remainder trust At that time the trust terminated and the investments held by OCF were revalued from the net present value of the estimated future benefits to be received at the time of the grantors death to its fair market value as of September 30 2006 These assets were transferred by the OCF from the Goodwin Charitable Trust into the Leonard and Vivian Goodwin Endowment Fund for the Safari Game Search Foundation

15



NOTE 5 - INTEREST IN ASSETS HELD BY OREGON COMMUNITY FOUNDATION (Continued)

The fair market value of the Foundations interest in assets held by OCF for the Leonard K and Vivian Goodwin Endowment Fund totaled $870728 as of September 30 2015 The following is a summary of the Goodwin investment account activity


Under the Goodwin Endowment trust agreement OCF shall distribute at least annually an appropriate percentage of the fair market value of the endowments to the Foundation as needed or desired to further the Foundations objectives and purposes The percentage distributed shall not be less than a reasonable rate of return (currently calculated as 45 per annum of the Endowments total assets held by OCF) The Foundation can elect to receive a distribution or can defer receiving the distributions and elect to re-invest the amounts into the Endowment The distributions may occur semi-annually in June and December Additional extraordinary distributions from the Endowment are allowed but subject to the approval of the OCFs board of directors

The investment income and realized and unrealized gains and losses from these endowments are presented as changes in restricted net assets on the Foundations statement of activities

As trustee of the two endowment funds OCF may co-mingle the assets held for the Foundation for investment purposes into pooled investment accounts

NOTE 6 - ANIMALS ON EXHIBIT

Animals on exhibit represent breeding herds of various species These animals were capitalized at appraised cost when the Foundation purchased the collection in January 1981 The balance of this account also includes those animals purchased during 1988 and 1989 to populate the North American expansion For all other animal transactions acquisitions have been recognized as a current expense to be netted against proceeds from the sale of animals Generally accepted accounting principles require that collections be capitalized in their entirety The amount required to be recorded in order to capitalize the collection has not been determined

In view of the impracticality of placing a value on recurring animal births and deaths no value is placed on these additions or deletions to the animal collections The cost or contributed value of animals acquired other than those acquired for the North American expansion is netted against proceeds from sales During the year ended September 30 2015 there was $61765 spent on transportation costs for the acquisitions of animals and no proceeds from the sale of animals

16



NOTE 7 - UNRESTRICTED NET ASSETS

The Foundations unrestricted net assets as of September 30 2015 consisted of the following

Unrestricted Net Assets Net book value of fixed assets $ 2467580

Unrestricted - undesignated 1537362

Total Unrestricted Net Assets $ 4004942

NOTE 8 - TEMPORARILY RESTRICTED NET ASSETS

The Foundations temporarily restricted net assets as of September 30 2015 consisted of the following

Funds restricted for Use in Educational programs and events $ 8070 Road Improvements 20000 Rhino Building amp Exhibit 29941 Zoo Animal Hospital Equipment 98650 Cheetah Fence 609 Conservation 16326 Fair Value of Interest in Assets Held by

Oregon Community Foundation Valpiani Cheetah Endowment Fund 39298 Leonard and Vivian Goodwin Endowment

Fund for Safari Game Search Foundation 870728

Total available for use in periods after September 30 2015 $ 1083622

NOTE 9 - SECURED NOTE PAYABLE

In July 2009 the Foundation established an investment account and a line of credit with the investment firm DA Davidson amp Co The note payable on the line of credit is secured by cash cash equivalents and other investments held by DA Davidson amp Co in the Foundations investment accounts Borrowings on the line of credit accrue interest at a rate of 275 per annum in effect at September 30 2015 The available balance on the line of credit can be no greater than specified percentages of the totals of the Foundations investment portfolio categories with the percentages varying based on the type of investments Based on these criteria the maximum borrowing capacity on the line of credit at September 30 2015 was approximately $1001175 At September 30 2015 the balance of the secured note was $26069

17



NOTE 10 - LONG-TERM DEBT

The long-term debt obligations of the Foundation consisted of the following at September 30 2015

Mortgage payable to Douglas County Industrial Development Board payable in monthly installments of $2600 during the summer and $1525 in winter payable in full March 2021 secured by a 2nd deed of trust on real property located in Douglas County Oregon

Note payable to CCD Business Development Corporation payable in nine monthly installments per year of $3048 including interest at 1 plus prime currently 5 payable in full May 2016 secured by inventory equipment furniture and 3rd deed of trust (pro-rata with Oregon Economic and Community Development Commission) on real property located in Douglas County Oregon

Note payable to Kubota Corp payable in monthly installments of $208 0 interest payable in full April 2018 secured by Kubota RlV

Note payable to Kubota Corp payable in monthly installments of $313 0 interest payable in full October 2018 secured by Kubota RlV


Total Long-term Debt Obligations

Less Current Portion

Long-term Debt Net of Current Portion

$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18



NOTE 10 - LONG-TERM DEBT (continued)

The following represents the maturities of long-term debt and estimated related interest requirements at September 30 2015

Year Ending September 30th Principal Interest Total

2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768

Thereafter 10738 10738

Totals $ 290828 $ 130 $ 290958

During the year ended September 30 2015 the Foundation incurred interest expense of $20065

NOTE 11- EMPLOYEE BENEFIT PLAN

The Foundation has established a SIMPLE IRA plan as of April 1 2014 which covers all employees who earn more than $5000 during the year The Foundation matched 100 of the employees contribution up to 2 of the employees compensation Beginning April 1 2015 the Foundation increased its contribution and now matches 100 of the employees contribution up to 3 of the employees compensation The Foundations contribution to the plan for 2015 was $17882

NOTE 12 - RELATED PARTY TRANSACTIONS

During the year ended September 30 2015 the Foundation purchased goods and services from many local and regional bUSinesses which are either partially or wholly-owned by certain members of the Foundations Board of Directors or Trustees The total amount of these transactions was not determined Many of these same directors or trustees and the related businesses also donated or discounted goods and services provided to the Foundation on a recurring basis throughout the year

19



NOTE 13 - PURCHASE COMMITMENTS

On September 28 2012 the Foundation entered into a purchase commitment with Heska Corporation to purchase a minimum of $4000 per year in veterinary supplies for the next five years in exchange for free use of a veterinary chemistry analyzer Purchases under this purchase agreement totaled $10790 during the year ended September 30 2015 During the term of the agreement the equipment shall remain the property of Heska Corporation If the Foundation meets this minimum purchase agreement then the Foundation has the option to purchase the equipment at the end of the five-year term for $2500 or renew the agreement on an annual basis

At September 30 2015 the Foundation had $28336 remaining to be paid to Lome Merrifield Construction for the completion of construction contract for a Rhino exhibit

NOTE 14 - SUBSEQUENT EVENTS

In preparing these financial statements the Foundations management has evaluated subsequent events and transactions for potential recognition or disclosure through February 22 2016 which represents the date that the financial statements were available for issuance

20

SAFARI GAME SEARCH FOUNDATION dba WILDLIFE SAFARI

YEAR ENDED SEPTEMBER 30 2015

TABLE OF CONTENTS



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

1 - 2

3-4 5-6 7-8

9 - 10 11 - 20




Fax rS41) 673-0287

wwwwicksemmettcom











1



Qualified Opinion





2




2015 2014

ASSETS

CURRENT ASSETS




OTHER ASSETS




TOTAL ASSETS $ 5629726 $ 5940929


3



2015 2014







NET ASSETS





4



Temporarily








Brochures 383659 383659 329018











5



Temporarily


EXPENSES AND LOSSES

PROGRAM SERVICES

Public Exhibits $ 2304804 $ - $ 2304804 $ 1990884



SUPPORT SERVICES


Fundraising 191972 191972 189421












6

7







Total Expenses $ 2304804 $ 89705 $ 545539 576621 $ 3516669~



and Total Total



Total Expenses $ 625732 $ 191972 $ 4334373 $ 3851619

8



2015 2014






Depreciation

Bad Debt Expense






Accounts Receivable


Prepaid Expenses

Inventories




Increase (Decrease)

Accounts Payable




Other

$ (79885)

(46426)

174253

12713

2746

78694

259

(1094)

(9518)

(3218) (50000)

(1252)

88298

8744

(1121)

7824

1722

$ 219950

(96860)

160465

1481

3852

(46711)

(55491)

12554

971

14956

(18860) 10000

(43278)

13353

11065

(3382)

2685






112099





Long-Term Debt

(224072)

52846)

148935

46551)






9



2015 2014









10












11









12










13













$ 102718 36068

5715 51505 4404 1093

$ 201503

14












15












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20




Fax rS41) 673-0287

wwwwicksemmettcom











1



Qualified Opinion





2




2015 2014

ASSETS

CURRENT ASSETS




OTHER ASSETS




TOTAL ASSETS $ 5629726 $ 5940929


3



2015 2014







NET ASSETS





4



Temporarily








Brochures 383659 383659 329018











5



Temporarily


EXPENSES AND LOSSES

PROGRAM SERVICES

Public Exhibits $ 2304804 $ - $ 2304804 $ 1990884



SUPPORT SERVICES


Fundraising 191972 191972 189421












6

7







Total Expenses $ 2304804 $ 89705 $ 545539 576621 $ 3516669~



and Total Total



Total Expenses $ 625732 $ 191972 $ 4334373 $ 3851619

8



2015 2014






Depreciation

Bad Debt Expense






Accounts Receivable


Prepaid Expenses

Inventories




Increase (Decrease)

Accounts Payable




Other

$ (79885)

(46426)

174253

12713

2746

78694

259

(1094)

(9518)

(3218) (50000)

(1252)

88298

8744

(1121)

7824

1722

$ 219950

(96860)

160465

1481

3852

(46711)

(55491)

12554

971

14956

(18860) 10000

(43278)

13353

11065

(3382)

2685






112099





Long-Term Debt

(224072)

52846)

148935

46551)






9



2015 2014









10












11









12










13













$ 102718 36068

5715 51505 4404 1093

$ 201503

14












15












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20



Qualified Opinion





2




2015 2014

ASSETS

CURRENT ASSETS




OTHER ASSETS




TOTAL ASSETS $ 5629726 $ 5940929


3



2015 2014







NET ASSETS





4



Temporarily








Brochures 383659 383659 329018











5



Temporarily


EXPENSES AND LOSSES

PROGRAM SERVICES

Public Exhibits $ 2304804 $ - $ 2304804 $ 1990884



SUPPORT SERVICES


Fundraising 191972 191972 189421












6

7







Total Expenses $ 2304804 $ 89705 $ 545539 576621 $ 3516669~



and Total Total



Total Expenses $ 625732 $ 191972 $ 4334373 $ 3851619

8



2015 2014






Depreciation

Bad Debt Expense






Accounts Receivable


Prepaid Expenses

Inventories




Increase (Decrease)

Accounts Payable




Other

$ (79885)

(46426)

174253

12713

2746

78694

259

(1094)

(9518)

(3218) (50000)

(1252)

88298

8744

(1121)

7824

1722

$ 219950

(96860)

160465

1481

3852

(46711)

(55491)

12554

971

14956

(18860) 10000

(43278)

13353

11065

(3382)

2685






112099





Long-Term Debt

(224072)

52846)

148935

46551)






9



2015 2014









10












11









12










13













$ 102718 36068

5715 51505 4404 1093

$ 201503

14












15












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20




2015 2014

ASSETS

CURRENT ASSETS




OTHER ASSETS




TOTAL ASSETS $ 5629726 $ 5940929


3



2015 2014







NET ASSETS





4



Temporarily








Brochures 383659 383659 329018











5



Temporarily


EXPENSES AND LOSSES

PROGRAM SERVICES

Public Exhibits $ 2304804 $ - $ 2304804 $ 1990884



SUPPORT SERVICES


Fundraising 191972 191972 189421












6

7







Total Expenses $ 2304804 $ 89705 $ 545539 576621 $ 3516669~



and Total Total



Total Expenses $ 625732 $ 191972 $ 4334373 $ 3851619

8



2015 2014






Depreciation

Bad Debt Expense






Accounts Receivable


Prepaid Expenses

Inventories




Increase (Decrease)

Accounts Payable




Other

$ (79885)

(46426)

174253

12713

2746

78694

259

(1094)

(9518)

(3218) (50000)

(1252)

88298

8744

(1121)

7824

1722

$ 219950

(96860)

160465

1481

3852

(46711)

(55491)

12554

971

14956

(18860) 10000

(43278)

13353

11065

(3382)

2685






112099





Long-Term Debt

(224072)

52846)

148935

46551)






9



2015 2014









10












11









12










13













$ 102718 36068

5715 51505 4404 1093

$ 201503

14












15












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20



2015 2014







NET ASSETS





4



Temporarily








Brochures 383659 383659 329018











5



Temporarily


EXPENSES AND LOSSES

PROGRAM SERVICES

Public Exhibits $ 2304804 $ - $ 2304804 $ 1990884



SUPPORT SERVICES


Fundraising 191972 191972 189421












6

7







Total Expenses $ 2304804 $ 89705 $ 545539 576621 $ 3516669~



and Total Total



Total Expenses $ 625732 $ 191972 $ 4334373 $ 3851619

8



2015 2014






Depreciation

Bad Debt Expense






Accounts Receivable


Prepaid Expenses

Inventories




Increase (Decrease)

Accounts Payable




Other

$ (79885)

(46426)

174253

12713

2746

78694

259

(1094)

(9518)

(3218) (50000)

(1252)

88298

8744

(1121)

7824

1722

$ 219950

(96860)

160465

1481

3852

(46711)

(55491)

12554

971

14956

(18860) 10000

(43278)

13353

11065

(3382)

2685






112099





Long-Term Debt

(224072)

52846)

148935

46551)






9



2015 2014









10












11









12










13













$ 102718 36068

5715 51505 4404 1093

$ 201503

14












15












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20



Temporarily








Brochures 383659 383659 329018











5



Temporarily


EXPENSES AND LOSSES

PROGRAM SERVICES

Public Exhibits $ 2304804 $ - $ 2304804 $ 1990884



SUPPORT SERVICES


Fundraising 191972 191972 189421












6

7







Total Expenses $ 2304804 $ 89705 $ 545539 576621 $ 3516669~



and Total Total



Total Expenses $ 625732 $ 191972 $ 4334373 $ 3851619

8



2015 2014






Depreciation

Bad Debt Expense






Accounts Receivable


Prepaid Expenses

Inventories




Increase (Decrease)

Accounts Payable




Other

$ (79885)

(46426)

174253

12713

2746

78694

259

(1094)

(9518)

(3218) (50000)

(1252)

88298

8744

(1121)

7824

1722

$ 219950

(96860)

160465

1481

3852

(46711)

(55491)

12554

971

14956

(18860) 10000

(43278)

13353

11065

(3382)

2685






112099





Long-Term Debt

(224072)

52846)

148935

46551)






9



2015 2014









10












11









12










13













$ 102718 36068

5715 51505 4404 1093

$ 201503

14












15












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20



Temporarily


EXPENSES AND LOSSES

PROGRAM SERVICES

Public Exhibits $ 2304804 $ - $ 2304804 $ 1990884



SUPPORT SERVICES


Fundraising 191972 191972 189421












6

7







Total Expenses $ 2304804 $ 89705 $ 545539 576621 $ 3516669~



and Total Total



Total Expenses $ 625732 $ 191972 $ 4334373 $ 3851619

8



2015 2014






Depreciation

Bad Debt Expense






Accounts Receivable


Prepaid Expenses

Inventories




Increase (Decrease)

Accounts Payable




Other

$ (79885)

(46426)

174253

12713

2746

78694

259

(1094)

(9518)

(3218) (50000)

(1252)

88298

8744

(1121)

7824

1722

$ 219950

(96860)

160465

1481

3852

(46711)

(55491)

12554

971

14956

(18860) 10000

(43278)

13353

11065

(3382)

2685






112099





Long-Term Debt

(224072)

52846)

148935

46551)






9



2015 2014









10












11









12










13













$ 102718 36068

5715 51505 4404 1093

$ 201503

14












15












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20

7







Total Expenses $ 2304804 $ 89705 $ 545539 576621 $ 3516669~



and Total Total



Total Expenses $ 625732 $ 191972 $ 4334373 $ 3851619

8



2015 2014






Depreciation

Bad Debt Expense






Accounts Receivable


Prepaid Expenses

Inventories




Increase (Decrease)

Accounts Payable




Other

$ (79885)

(46426)

174253

12713

2746

78694

259

(1094)

(9518)

(3218) (50000)

(1252)

88298

8744

(1121)

7824

1722

$ 219950

(96860)

160465

1481

3852

(46711)

(55491)

12554

971

14956

(18860) 10000

(43278)

13353

11065

(3382)

2685






112099





Long-Term Debt

(224072)

52846)

148935

46551)






9



2015 2014









10












11









12










13













$ 102718 36068

5715 51505 4404 1093

$ 201503

14












15












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20


and Total Total



Total Expenses $ 625732 $ 191972 $ 4334373 $ 3851619

8



2015 2014






Depreciation

Bad Debt Expense






Accounts Receivable


Prepaid Expenses

Inventories




Increase (Decrease)

Accounts Payable




Other

$ (79885)

(46426)

174253

12713

2746

78694

259

(1094)

(9518)

(3218) (50000)

(1252)

88298

8744

(1121)

7824

1722

$ 219950

(96860)

160465

1481

3852

(46711)

(55491)

12554

971

14956

(18860) 10000

(43278)

13353

11065

(3382)

2685






112099





Long-Term Debt

(224072)

52846)

148935

46551)






9



2015 2014









10












11









12










13













$ 102718 36068

5715 51505 4404 1093

$ 201503

14












15












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20



2015 2014






Depreciation

Bad Debt Expense






Accounts Receivable


Prepaid Expenses

Inventories




Increase (Decrease)

Accounts Payable




Other

$ (79885)

(46426)

174253

12713

2746

78694

259

(1094)

(9518)

(3218) (50000)

(1252)

88298

8744

(1121)

7824

1722

$ 219950

(96860)

160465

1481

3852

(46711)

(55491)

12554

971

14956

(18860) 10000

(43278)

13353

11065

(3382)

2685






112099





Long-Term Debt

(224072)

52846)

148935

46551)






9



2015 2014









10












11









12










13













$ 102718 36068

5715 51505 4404 1093

$ 201503

14












15












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20



2015 2014









10












11









12










13













$ 102718 36068

5715 51505 4404 1093

$ 201503

14












15












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20












11









12










13













$ 102718 36068

5715 51505 4404 1093

$ 201503

14












15












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20









12










13













$ 102718 36068

5715 51505 4404 1093

$ 201503

14












15












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20










13













$ 102718 36068

5715 51505 4404 1093

$ 201503

14












15












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20













$ 102718 36068

5715 51505 4404 1093

$ 201503

14












15












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20












15












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20












16
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20
















17













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20













$ 251363

9133

6458

11563

12311

290828

(61894)

$ 228934

18






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20






2016 $ 61894 $ 130 $62024 2017 58136 58136 2018 57094 57094 2019 52198 52198 2020 50768 50768


Totals $ 290828 $ 130 $ 290958






19








20








20

safari game search foundation dba wildlife safari...wildlife safari (a non-profit organization),...

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