1

Total Balance as of January 1, 2004

$

116,123

Account in the US

$

82,583.36

RMB Account in China (￥277,189.77 @ $1.00 = ￥8.2646)

$

33,539.41

2

Total Income1

$

148,658.08

% of Total

Personal Donations (not by Credit Card)

$

101,172.81

68.06%

Personal Donations (by Credit Card)2

$

16,372.00

11.01%

Company Donations

$

13,353.07

8.98%

Corporate Matching

$

15,754.88

10.60%

Interest

$

539.19

0.36%

Net income from “Shop-to-Help”

$

583.02

0.39%

Net Profit from Used Car Sales

$

883.11

0.59%

3

Total Expenditure3

$

82,881.51

% of Total

(1) Financial Aid to Students (1221 students for Spring 2004, and 1532 students for Fall 2004, plus 10 High School students)

$

61,225.00

73.87%

(2) School Construction

$

5,000.00

6.03%

(3) Library program

$

7,392.00

8.92%

(4) School Supplies

$

4,014.48

4.84%

(5) Fundraising Actitivites and Other Operating Expenses

$

5,250.03

6.33%

      Internet Expenses

$

450

      Attorney Expenses

$

60

      Office Supplies

$

759.96

      Long-distance Phone Bills

$

15

      Postage

$

1,109.76

      Mailbox Rent

$

609.1

      Photocopies

$

555

      Advertisement and Public Relations

$

227.31

      Bank Transaction Fees

$

184.86

      Credit Card Transaction Fees (3%)

$

491.16

      Inspection

$

787.88

4

Net Income (Item 2-Item 3)

$

65,776.57

5

Accounting Balance (Item 1+Item 4)

$

181,899.57

6

Actual Balance as of December 31, 20044

$

181,902.39

Account in the US

$

128,617.63

RMB Account in China (￥440,350.61):

$

53,284.76

Remarks : 1：This item includes donations already deposited into the OCEF bank accounts from January 1 to December 31, 2004. Donations received but not yet deposited by that date are excluded from this item.
2: This item includes the transaction fee (3% or $491.16) charged by the online payment company. The transaction fee has not been received by the OCEF.
3: The exchange rate used to convert RMB into USD is $1.00=￥8.2641  except for item 1($1.00 = ￥8.2641).
4: The slight difference between items 5 and 6 is due to exchange rate fluctuations and some approximations.