The annual audit of the Stuttering Foundation financial reports for 2013 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 3.4% of expenditures for administration and general expenses and the 9/10 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.

Funds expended for:
Creation, production, printing and distribution of educational materials  $776,880       42.6%
Public information and education                                                               414,859       22.7%
Educational symposia for professionals                                                      198,841       10.9%
Research on causes/treatment of stuttering and therapy                            264,744       14.5%
Maintain Web site and toll-free information hotline                                      90,449         5.0%
Total for Program Services:                                                              $1,745,773       95.7%
Other expenditures:
Administration and general                                                                           62,344         3.4%
Fund-raising expense                                                                                   17,246         0.9%
Total Expenditures:                                                                           $1,825,363        100%