NATIONAL OILHEAT RESEARCH ALLIANCE, INC.
STATEMENTS OF FINANCIAL POSITION
DECEMBER 31, 2017 AND 2016
ASSETS
2017 2016
CURRENT ASSETS
Cash $ 9,343,450 $ 9,448,186
Assessments receivable 2,987,247 2,818,269
Prepaid state assessments 217,360 67,789
Other current assets 9,986 21,318
Total current assets 12,558,043 12,355,562
PROPERTY AND EQUIPMENT, NET 47,058 78,122
OTHER NONCURRENT ASSETS 21,146 21,146
TOTAL ASSETS $ 12,626,247 $ 12,454,830
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES
Accounts payable $ 1,098,309 $ 712,334
Refunds payable 318,984 392,990
State grants payable 3,389,090 4,101,842
Obligation for unallocated state rebates 2,615,817 2,930,877
Other current liabilities 34,823 24,584
Total current liabilities 7,457,023 8,162,627
OTHER NONCURRENT LIABILITIES 10,796 9,657
TOTAL LIABILITIES 7,467,819 8,172,284
NET ASSETS
Unrestricted undesignated net assets 431,117 410,200
Designated net assets-
Pre-2014 reauthorization net assets 55,933 55,933
National spending not yet incurred-
Research, development, and demonstration - not yet obligated 3,779,596 1,903,954
Research, development, and demonstration - obligated under contract 750,328 1,778,415
Heating oil efficiency and upgrade - not yet obligated 110,763 93,635
Heating oil efficiency and upgrade - obligated under contract - -
Consumer education, safety, and training - not yet obligated 30,691 40,409
Consumer education, safety, and training - obligated under contract - -
Total unrestricted net assets 5,158,428 4,282,546
TOTAL LIABILITIES AND NET ASSETS $ 12,626,247 $ 12,454,830
The accompanying notes are an integral part of these financial statements.
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