OCEF 2005 FINANCIAL STATEMENTS

 (JANUARY 1, 2005—DECEMBER 31, 2005)

              Prepared by Patrick Chan, Jianchao Bian and Haoyu Guo
  Translated by Sheng Xiao

1.

Total Balance as of January 1, 2005：

 

$181,902.39

 

 

(1) Account in the U.S.

$

128,617.63

 

 

(2) Account in China (￥440,350.61 @ $1.00 = ￥8.2641)

$

  53,284.76

 

 

 

 

 

 

2.

Total Income 1:

 

$243,411.00

% of Total

 

(1) Personal Donations (not by Credit Card)

$

176,574.52

72.54

 

(2) Personal Donations by Credit Card2

$

  15,684.46

6.44

 

(3) Company Donations

$

  24,547.09

10.08

 

(4) Corporate Matching

$

  10,790.06

4.43

 

(5) Interest

$

       636.37

0.26

 

(6) Net income from “shop to help”

$

    5,616,74

2.31

 

(7) Net Profit from Used Car Sales

$

    9,561.76

3.93

 

 

 

 

 

3.

Total Expenditure3:

 

<$107,354.51>

 

    (A)

Classified By Actual Usage

 

                $107,354.51

% of Total

 

  (1) Financial Aid to Students of Grades 1-9

$

  88,564.96

81.54

 

  (2) Financial Aid to Students of Grades 10-12

$

    2,152.12

1.98

 

  (3) School Construction Program

$

    4,157.51

3.83

 

  (4) Phone Charge

$

           4.28

0.00

 

  (5) Bank Services and Wiring Fee

$

       771.11

0.71

 

  (6) Inspection Expenditure in China

$

    1,470.04

1.35

 

  (7) Postage

$

    2,659.33

2.45

 

  (8) Printing

$

    1,469.66

1.35

 

  (9) Miscellaneous  (items #4 ~ #8)

$

    1,063.83

0.98

 

(10) Advertisement

$

       783.58

0.72

 

(11) Stationery

$

    1,690.63

1.56

 

(12) Computer Software & PO box rental

$

       660.94

0.61

 

(13) Shanghai Office Rent

$

       733.68

0.68

 

(14) Office Furniture

$

       413.31

0.38

 

(15) Realtor Fee for Shanghai Office

$

         73.37

0.07

 

(16) Scanning Expenses

$

       183.42

0.17

 

(17) Annual Returns for the State Government

$

       295.00

0.27

 

(18) Fund Raising

$

    1,463.70

1.35

 

(19) Refund of Financial Aid and Interest

$

 <1,255.97 >

N/A

    (B)

Classified By Programs

 

$107,354.51

% of Total

 

(1) Financial Aid Program

$

   92,796.78

86.44

 

(2) School Construction Program

$

     4,314.76

4.02

 

(3) Library Program

$

     1,566.66

1.46

 

(4) Publication

$

        728.86

0.68

 

(5) Fundraising

$

     3,200.19

2.98

 

(6) Administration

$

     4,747.26

4.42

4.

Net Income (Item 2-Item 3):

 

$136,056.49

 

 

 

 

 

 

5

Accounting Balance (Item 1+Item 4) :

 

$317,958.88

 

 

 

 

 

 

6.

Actual Balance as of December 31, 2005

 

$ 317,958.88

 

 

(1)  Bank Account in the US

$

295,507.25

 

 

(2)  Account in China (￥180,827.69 @ $1.00 = ￥8.0541)

$

22,451.63

 

Remarks:

1：This item includes donations already deposited into the OCEF bank accounts from January 1 to  December 31, 2005.   Donations received but not yet deposited by that date are excluded from this item.
2: This item does not include the transaction fee (3% or $485.09) charged by the credit card 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=￥8.17796712  except for item 1($1.00 = ￥8.2641) and item 6 ($1.00 = ￥8.0541).

            

OCEF 2005 FINANCIAL STATEMENTS
                (JANUARY 1, 2005—DECEMBER 31, 2005)
           BANK ACCOUNT IN THE US

Prepared by Patrick Chan, Jianchao Bian and Haoyu Guo
Translated by Sheng Xiao

 

1.

Total Balance as of January 1, 2005：

 

 

 

 

Account in the U.S.

 

$128,617.63

 

 

 

 

 

 

2.

Total Income in the US 1:

 

$243,411.00

% of Total

 

(1) Personal Donations (not by Credit Card)

$

176,574.52

72.54

 

(2) Personal Donations by Credit Card2

$

  15,684.46

6.44

 

(3) Company Donations

$

  24,547.09

10.08

 

(4) Corporate Matching

$

  10,790.06

4.43

 

(5) Interest

$

       636.37

0.26

 

(6) Net income from “shop to Help”

$

    5,616,74

2.31

 

(7) Net Profit from Used Car Sales

$

    9,561.76

3.93

 

 

 

 

 

3.

Total Expenditure in the US2:

 

<$76,521.38>

 

 

Fund Remittance to China

 

            $70,000.00

 

 

Other Expenses

 

$6,521.38

% of Total

 

    (1)   Computer Software

$

       387.45

5.94

 

    (2)   Annual Returns for the State Government

$

       295.00

4.52

 

    (3)  Office Supplies

$

       435.72

6.68

 

    (4)  Postage

$

    1,249.92

19.17

 

    (5)  Mailbox Rent

$

       214.80

3.29

 

    (6)  Photocopies

$

       923.07

14.15

 

    (7)  Fundraising Activities

$

    2,623.72

40.23

 

    (8)  Advertisement

$

       270.00

4.14

 

   (9)  Bank Transaction Fees

$

       121.70

1.87

 

 

 

 

 

4.

Net Income (Item 2-Item 3):

 

$ 166,889.62

 

 

 

 

 

 

5

Accounting Balance (Item 1+Item 4):   

 

$295,507.25

 

 

 

 

 

 


Remarks:

1：This item includes donations already deposited into the OCEF bank accounts from January 1 to
        December 31, 2005. Donations received but not yet deposited by that date are excluded from this item.
2: This item does not include the transaction fee (3% or $485.09) charged by the credit card payment company. The transaction fee has not been received by the OCEF.

 

OCEF 2005 FINANCIAL STATEMENTS
 (JANUARY 1, 2005—DECEMBER 31, 2005)
 RMB ACCOUNT IN CHINA

              Prepared by Patrick Chan, Jianchao Bian and Haoyu Guo
  Translated by Sheng Xiao

1.

Total Balance in China as of January 1, 2005：

 

￥440,350.61

 

 

 

 

 

 

2.

Total Income in China:

 

￥575,358.39

 

 

Remittance on September 181

￥

565,087.11

 

 

Refund of Financial Aid2

￥

  10,171.70

 

 

Interest

￥

         99.58

 

 

 

 

 

 

3.

Total Expenditure in China 3:

 

<￥834,881.28>

% of Total

   (A)

Classified by Actual Usage

 

 

 

 

  (1) Financial Aid to Students of Grades 1-9

￥

724,281.35

86.75

 

  (2) Financial Aid to Students of Grades 10-12

￥

  17,600.00

2.11

 

  (3) School Construction Program

￥

  34,000.00

4.07

 

  (4) Phone Charge

￥

         35.00

0

 

  (5) Bank Services and Wiring Fee

￥

    5,310.88

0.64

 

  (6) Inspection Expenditure in China

￥

  12,021.96

1.44

 

  (7) Postage

￥

  11,526.10

1.38

 

  (8) Printing

￥

    4,470.00

0.54

 

  (9) Miscellaneous  (items #4 ~ #8)

￥

    8,700.00

1.04

 

(10) Advertisement

￥

    4,200.00

0.50

 

(11) Stationery

￥

       776.00

0.09

 

(12) Shanghai Mailbox Rent

￥

       480.00

0.06

 

(13) Shanghai Office Rent

￥

    6,000.00

0.72

 

(14) Office Furniture

￥

    3,380.00

0.40

 

(15) Office Expenses

￥

       600.00

0.07

 

(16) Scanning Expenses

￥

    1,500.00

0.18

 

 

 

 

 

   (B)

Classified by Programs

 

 

 

 

(1) Financial Aid Program

￥

768,086.58

92.00

 

(2) School Construction Program

￥

  35,286.00

4.23

 

(3) Library Program

￥

  12,812.11

1.53

 

(4) Publication

￥

    5,960.60

0.71

 

(5) Others3

￥

  12,736.00

1.53

 

 

 

 

 

4.

Net Income (Item 2-Item 3):                                                                            

 

                             <￥259,522.89>

 

 

 

 

 

 

5.

Accounting Balance (Item 1+Item 4):                                                             

 

￥ 180,827.71

 

Remarks:

1: This item includes interest on USD deposit. The exchange rate on September 18 was $1.00=￥8.0725.
2: This item includes refunds from financial aid of students in 2004.
3: This item equals the sum of items 3(A) 11-16.


 

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OCEF
P.O. Box 772436
Houston, TX
77215-2436
USA

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