mmatters
12-19-2005, 08:21 AM
Hollywood, CA – December 9, 2005 –The Elf Foundation, a non-profit organization that designs and builds private entertainment theaters in children’s hospitals, autism centers, shelters for abused children, and long-term disability centers for kids is proud to release their 2005 Exempt Organization Tax Summary totals. As prepared by Certified Public Accountants, Guzman & Gray of Long Beach, California, the return reflects the continued growth of the Elf Foundation and their commitment to judicious expenditures. 2005 Tax Summary highlights:
Expenses Revenue and Support
Program Services $662,341 94% Contributions $46,000
Management & General $22,229 3% Fundraising Events $94,797
Fundraising $22,339 3% In Kind Donation $561,690
Total Expenses $706,909 Total Revenue Support $702,487
“We’ve had steady growth since our inception in 2001 and have opened over 40 theaters across the country,” said Douglas Weinstein, president of Elf Foundation. “Our Room of Magic theater program continues to thrive due to an enormous outpouring of generosity within the consumer electronics industry. Our commitment to maximize each and every dollar we bring in is reflected in this year’s totals. And, over the course of our first five years as a non-profit charity, we have attained a 93% average for Program Services expenses. This achievement means so much to all of us at the foundation, and we wish to thank those individuals and companies who have partnered with us to make this dream a reality.”
About The Elf Foundation
The Elf Foundation was founded in July of 2001, with the express mission of creating private entertainment theaters ― ‘Rooms of Magic’ ― for children’s hospitals across the country. Operating as a 501 (c) 3 non-profit charity, Elf acts as a catalyst within the consumer electronics industry and throughout local communities to advance their mission of bringing the magic of music and film to special kids in a time of need. To date, The Elf Foundation has opened over 35 ‘Room of Magic’ theaters in the U.S. and is beginning work on their first Canadian projects. For more information please visit www.elfsystems.org.
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Expenses Revenue and Support
Program Services $662,341 94% Contributions $46,000
Management & General $22,229 3% Fundraising Events $94,797
Fundraising $22,339 3% In Kind Donation $561,690
Total Expenses $706,909 Total Revenue Support $702,487
“We’ve had steady growth since our inception in 2001 and have opened over 40 theaters across the country,” said Douglas Weinstein, president of Elf Foundation. “Our Room of Magic theater program continues to thrive due to an enormous outpouring of generosity within the consumer electronics industry. Our commitment to maximize each and every dollar we bring in is reflected in this year’s totals. And, over the course of our first five years as a non-profit charity, we have attained a 93% average for Program Services expenses. This achievement means so much to all of us at the foundation, and we wish to thank those individuals and companies who have partnered with us to make this dream a reality.”
About The Elf Foundation
The Elf Foundation was founded in July of 2001, with the express mission of creating private entertainment theaters ― ‘Rooms of Magic’ ― for children’s hospitals across the country. Operating as a 501 (c) 3 non-profit charity, Elf acts as a catalyst within the consumer electronics industry and throughout local communities to advance their mission of bringing the magic of music and film to special kids in a time of need. To date, The Elf Foundation has opened over 35 ‘Room of Magic’ theaters in the U.S. and is beginning work on their first Canadian projects. For more information please visit www.elfsystems.org.
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