National Underground Railroad Freedom Center

Statement of Cash Flows

For the Periods Ending May 31 and April 30, 2009

April May
Cash Flows from Operating Activities
Change in Net Assets $ (705,774) $ (873,628)
Adjustment to reconcile changes in net assets to
net cash from operating activities:
Depreciation of property and equipment 364,309 364,309
Amortization of bond costs 11,130 11,414
Time discounts and allowance for doubtful accounts - -
Unrealized (gain) loss on investments - 100,298
Change in fair value of interest swap agreement (19,996) (23,197)
Realized (gain) loss on investments - -
Noncash stock donations - 277
Changes in :
Government receivables 399,637 135,585
Accounts receivable 10,520 (7,310)
Unconditional promises to give 387,445 862,438
Inventory 3,757 7,272
Prepaid expenses and assets 6,514 (30,791)
Accounts payable (118,021) 35,025
Accrued liabilities (40,028) 35,899
Interest payable (150,122) 61,080
Deferred revenue (34,578) (52,227)

Net cash provided (used) by operating activities 114,793 626,444

Cash Flows from Investing Activities

Purchase of property and equipment - -
Change in assets limited as to use - -
Purchase of investments (543,719) (792,785)
Proceeds from sale of investments 19,215,012 225,189

Net cash provided (used) by investing activities 18,671,293 (567,596)

Cash Flows from Investing Activities

Repayment of tax exempt bonds (19,000,000) -

Net change in cash (213,914) 58,848

Cash, beginning of month 351,887 137,973

Cash, end of month $ 137,973 $ 196,821