HUGS - Hope for Ugandan Students

Revenue
Individuals	$28,028
Corporations	$1,382
Earned Income	$1,219
Contributions In-Kind	$1,571
Total Revenue	$32,200

Expenses
Student Sponsorship	$7,283
Special Needs Program	$2,106
FDNC General Operating Support	$3,614
HUGS Administrative and Fundraising Costs*	$1,325
Total Expenses	$14,328

*Covered by HUGS Board of Directors. Includes one-time $750 IRS filing fee for 501(c)(3) application.

Change in Net Assets	$17,872
Net Assets, Beginning of Year	$0
Net Assets, End of Year**	$17,872

**Net assets at the end of 2007 include funds raised for student sponsorships for the 2008 school year, as well as funds for vocational tools HUGS contributed to FDNC in January 2008.