2011



2011
For the 2011 tax year, the Alzheimer's Art Quilt Initiative $187,182.00 in profit. It is from these profits that we fund Alzheimer's research.



"Money IN / Money OUT" Report
(January 1, 2011 to December 31, 2011)


Income:


Total Income: $210,389.98



Expenses:

  • Quilt Insurance $977.00
    Donated quilts from "Alzheimer's: Forgetting Piece by Piece"
    and
    "Alzheimer's Illustrated: From Heartbreak to Hope"

  • Licenses & Fees: ($2,039.00)
      Solicitation Registration, Corporation Registration Fees
      (Paid throughout the year as deadlines demand.)
    • Alabama: $25.00
    • Alaska: $40.00
    • California: $50.00
    • Connecticut: $50.00
    • Colorado $10.00
    • Florida: $125.00
    • Georgia: $20.00
    • Hawaii: $100.00
    • Illinois: $15.00
    • Idaho 0
    • Kansas: $35.00
    • Maine: $25.00
    • Maryland: $200.00
    • Massachusetts: $70.00
    • Michigan: $20.00
    • Minnesota: $25.00
    • Mississippi: $50.00
    • Missouri: 0
    • Montana: 0
    • New Hampshire: $75.00
    • New Jersey: $150.00
    • New York: $10.00
    • North Carolina: $100.00
    • North Dakota: $20.00
    • Ohio: 0
    • Oklahoma: $15.00
    • Oregon: $10.00
    • Pennsylvania: $150.00
    • Rhode Island: $90.00
    • South Carolina: $50.00
    • Tennessee: $200.00
    • Utah: 0
    • Virginia: $200.00
    • Washington: $40.00
    • West Virginia: $15.00
    • Wisconsin: $54.00


  • Office Supplies (Administrative Expenses): $912.64
    • Toshiba L655 Laptop /Windows 7 (January) $524.98
    • Wireless Mouse (January) $15.00
    • Canon MF3200 printer (February) $129.99
    • Used 3-drawer filing cabinet (September) $49.00
    • Printer Toner (September) $21.19
    • Credit card machine (November) $144.50
    • Desk calculator, paper (December) $27.98


  • Supplies (Program Expenses): $748.00
    • Boxes to return A:FPbP quilts to owners (January) $69.99
    • 2 Bottles glue (Houston booth, 2010) (March) $5.17
    • Cable ties, Alzheimer's Illustrated: From Heartbreak to Hope (AI:FHtH) exhibit (Feb) $9.68
    • 6 spools black thread for AI:FHtH (March) $7.59
    • 2 spools black thread for AI:FHtH (March) $3.79
    • Foam wrap for AI:FHtH (March) $16.21
    • Rubbermaid shipping tote for AI:FHtH (March) $16.91
    • Peel & stick paper for AI:FHtH (March) $14.59
    • Black cording, 3 spools for AI:FHtH (March) $32.19
    • Cable ties, yardsticks, 3 Rubbermaid totes for AI:FHtH (March) $71.73
    • Manilla File Folders P:AQ (March) $6.30
    • 10 sheets corrugated plastic for AI:FHtH signs (April) $172.25
    • Chain link, 2 screwdrivers for mounted quilts, AI:FHtH (April) $8.73
    • 3 bottles of Glue for AI:FHtH mounted quilts (April) $12.52
    • 1,000 Gusseted Bags to travel quilts AI:FHtH (May) $102.98
    • 3 boxes 5-cut file folders (P:AQ) (August) $37.50
    • 3 Ring Binders to hold grant apps (August) $8.71
    • 1,000 hang tabs for P:AQ (September) $29.75
    • IQF Houston booth supplies: Printed stickers, credit card machine &
      calculator paper, "CONFIDENTIAL" stamp as required by credit card company (December) $58.28
    • IQF Houston: cable ties and duct tape (December) $23.65
    • AI: FHTH: Pipe insulation (December) $2.33
    • 6 Celotex boards for walls (December) $66.47
    • 1 ream cardstock for quilt tags (December) $15.18


  • COST OF GOODS: $1,479.93
    • Alzheimer's: Forgetting Piece by Piece CD $71.28
    • World Series Earrings $3.17
    • Stanley Cup Earrings $1,405.48


  • Printing & Reproduction: 0

  • Credit Card Processing Fees: $4,589.68

  • Bank Service Charges: $5.46

  • Telephone: $665.52
    • Office: ($24.99/month + taxes): $383.64
    • Booth in Houston: $281.88


  • Accountant’s Fees: $2,130.00

  • Legal Fees: $909.70

  • Café Press Web Hosting ($6.95/month or 10% of product income): $0

  • Yahoo Web Page Hosting & Revenue Share ($39.95/month + 1.5% of sales): $1,502.07

  • Domain Name Registration: $36.63
    (AlzQuilts.org, AAQI.org, AlzQuilts.com)

  • Fulfillment Services: $5,508.75

  • Freight (postage): $720.91

  • Michigan & Texas Sales Tax (collected monthly, paid quarterly): ($409.41)
    • Michigan Sales tax paid: $172.23
    • Texas Sales tax paid: (2010 show paid in 1st quarter of 2011) $237.18

  • Travel: $107.10 (For Ami to attend "Alzheimer's Illustrated: From Heartbreak to Hope" exhibit in Amherst, MA; airfare reimbursement for Ami and Debbie to go to Houston in Nov; SuperShuttle from Houston airport; 6 days of parking at IQF Houston.)
      Total Expenses: $23,125.44



      Profit for 2011: $187,182.00


      ALL PROFITS FUND ALZHEIMER'S RESEARCH

      2011 Research Grant Awards: ($145,160.00)
      University of Michigan ($60,160)
      "Investigation of Small Molecules as Chemical Tools and Potential Therapeutics for Alzheimer's Disease."
      Dr. Mi Hee Lim

      University of Pittsburgh ($25,000)
      "Effect of Different Forms of ApoE Treatment of Alzheimer's Disease"
      Dr. Nicholas Fitz

      Cornell University ($30,000)
      "Alzheimer's Disease Leads to Increased Blood Flow Stalls in Brain Capillaries"
      Dr. Chris Schaffer

      University of Michigan ($30,000)
      "Development of Multifunctional Drugs for Alzheimer's Disease"
      Dr. Sylvie Garneau-Tsodikova

      (Even though grant awards are expenses of the nonprofit, they are not listed as expenses above. It is easier to show the amount the AAQI has raised for research this way. Accountants should examine our 990EZ forms below.)

      Prior Funds Allocated to Alzheimer's Research:

      Please click here to read about research that has been funded by the Alzheimer's Art Quilt Initiative.

      Click here to download a copy of our Form 990 for tax year 2011.
      Please note: On IRS Form 990 there is not a space for the "amount earned for research" as such. That amount is very important to the AAQI, not the IRS, at least in those terms. There is an $82.54 difference between the web page and Form 990. This has to do with rounding, and accrual inventory valuation difference between the beginning of the year and the end of the year.