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Thanks for that. I was scratching my head at the "in-kind service revenue". For others that were likewise confused, there is a line item on both sides: it's i

Thanks for that. I was scratching my head at the "in-kind service revenue". For others that were likewise confused, there is a line item on both sides: it's income and expenses and cancels out. So that makes sense. The detailed audit report indicates that rent is about $1.5 million. The rest is essentially computer purchases. I'd still like to see a better explanation of the professional services. But it definitely makes more sense.

realityking 7y ago
I suspect that the majority of of professional services spending is on accountants and lawyers. The Independent Audit report itself likely costs a 6-figure sum. Depending on how much accounting is done in-house vs outsourced, some of it might also fall into professional services. The bulk of it is likely going to lawyers. A lot of the in-kind donations fall into the same bucket: > In-kind service revenue and expenses recorded in the statements of activities consist of contributed legal services. The amounts of specialized contributed legal services as revenue and expenses are $2,748,512 and $156,191 for the years ended June 30, 2018 and 2017, respectively. The value of contributed internet hosting services for the years ended June 30, 2018 and 2017 are $32,722 and $58,390, respectively.