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CHILD CARE RESOURCE CENTER, INC. (A NONPROFIT CORPORATION)
NOTES TO FINANCIAL STATEMENTS June 30, 2014
NOTE 1 – NATURE OF OPERATIONS (Continued)
School Readiness – The program, which ended December 31, 2013, provided weekly home visitation activities focused on preparing both the parent and the child for school and developing skills to be successful in school. Specialists provided information on child development and facilitated parent-child activities which supported a parent’s role as their child’s first teacher.
NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation
The financial statements are presented utilizing the accrual basis of accounting in accordance with accounting principles generally accepted in the United States of America. The financial statements include certain prior-year summarized comparative information in total but not by net asset class. Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America. Accordingly, such information should be read in conjunction with CCRC’s financial statements for the year ended June 30, 2013, from which the summarized information was derived.
CCRC recognizes contributions, including unconditional promises to give, as revenue in the period received. Revenues, gains, expenses and losses are classified based on the existence or absence of donor-imposed restrictions. Accordingly, net assets of CCRC and changes therein are classified and reported as follows:
 Unrestricted net assets – Net assets that are not subject to donor-imposed stipulations. Unrestricted net assets may be designated for specific purposes by actions of the board of directors or may otherwise be limited by contractual agreements with outside parties.
 Temporarily restricted net assets – Net assets subject to donor-imposed stipulations that may or will be met either by actions of CCRC and/or the passage of time. As restrictions are satisfied, temporarily restricted net assets are reclassified to unrestricted net assets and reported in the accompanying statements of activities as net assets released from restrictions.
 Permanently restricted net assets – Net assets subject to donor-imposed stipulations that resources be maintained in perpetuity by CCRC. Investment income generated from these funds is available for general support of CCRC unless otherwise stipulated by the donor. As of June 30, 2014 and 2013, CCRC had no permanently restricted net assets.
Reclassification
Certain prior-year account balances have been reclassified to conform to the current year’s presentation and have had no significant impact on the financial statements.
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