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Children's Advocacy Center of Paris Notes to Financial Statements December 31, 2002 NOTE I--NATURE OF ACTMTI~S AND SIGNIFICANT ACCOUNTING POLICEES (Cont'd) R e~ve. nue Reen~JtJon Contributions received are recorded as increases in unrestricted, temporarily restricted, or permanently restricted net assets, depending on the existence and/or nature of any donor restrictions. All donor-restricted contributions are reported as increases in temporarily or permanently restricted net assets, depending on the nature of the restriction. When a restriction expires (that is, when a stipulated time restriction ends or purpose restriction is accomplished), temporarily restricted net assets and reported in the statement of activities as net assets released from restrictions. C'!nntrihuted ~qerviee,~ Donated services are recognized as contributions if the services require specialized skills, are performed by people with those skills, and would otherwise be purchased by the Organization. During the year ended December 31, 2002, there was not any contributed services. Volunteers that provide other such services throughout the year are not recognized as contributions in the financial statements. Income, Taxe~ The Organization is a not-for-profit organization that is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. C!~h and Cash l~qniwlent~ For purposes of the statement of cash flows, the Organization considers all highly liquid investments with an initial maturity of three months or less to be cash equivalents Expense Allne~tinn Directly identifiable expenses are charged to programs and supporting services. Expenses related to more than one function is charged to programs and supporting services on the l~asis of periodic time and expense studies. Management and general expenses include those expenses that are not directly identifiable with any other specific functions but provide for the overall support and direction of the Organization. NOTE 2--RESTRICTED CASH I The restricted cash account represents donations set aside to furnish the Rainbow Room. (See Note 5)