Annual Audit of Foundation

 The annual audit of the Stuttering Foundation financial reports for 2010 was recently completed by the accounting firm of Cannon and Company, Certified Public Accountants, Memphis, Tenn. Following is a recap of funds and expenditures for the year.
       The 3.5% of expenditures for administration and general expenses and the 7/10 of 1% for fund raising are very low, and since we are fortunate to have an endowment which more than covers our overhead expenses, donors can be assured that their gifts will go directly to support our program services.
       The Foundation is a 501(c)(3) private operating foundation which expends its funds on its own programs and operations and does not make grants to other institutions.