2013-11-14T15:20:47-06:00 2013-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2012-07-01 042921507 NORTH AMERICAN FAMILY INSTITUTE INC % DANIEL NAKAMOTO NORT 9785380286 26 HOWLEY STREET Suite PEABODY MA 01960 PAMELA ROCHA 2013-11-13 6179881000 2012 2016-02-25 16:41:14Z DR YITZHAK BAKAL 26 HOWLEY STREET PEABODY MA 01960 17782542 false 9242 X WWW.NAFI.COM X 1986 MA TO CREATE COMMUNITY ENVIRONMENTS BASED UPON PRINCIPLAS OF DIGNITY AND RESPECT THAT HELP CHILDREN, ADULTS, AND FAMILIES TO GROW AND CHANGE IN ORDER TO BETTER THE LIVES AND THE WORLD AROUND THEM. 11 9 356 9 15156 -12099 322861 179552 18215355 17559862 -2403 40929 -139738 -57762 18396075 17722581 0 0 0 0 12507875 11454616 0 0 0 6764503 6286612 19272378 17741228 -876303 -18647 9303073 8763101 6145865 5590102 3157208 3172999 X TO CREATE COMMUNITY ENVIRONMENTS BASED UPON PRINCIPALS OF DIGNITY AND RESPECT THAT HELP CHILDREN, ADULTS AND FAMILIES TO GROW AND CHANGE IN ORDER TO BETTER THEIR LIVES AND THE WORLD AROUND THEM. true false 6152120 6827353 JUVENILE JUSTICE SERVICES: THE NORTH AMERICAN FAMILY INSTITUTE OFFERS A CONTINUUM OF SERVICES FOR ADJUDICATED DELINQUENTS FROM EVIDENCE BASED PREVENTION, FAMILY SUPPORT, INDEPENDENT LIVING, SHELTERS, GROUP HOMES, RESIDENTIAL TREATMENT, AND STAFF-SECURE RESIDENTIAL PROGRAMS. EDUCATION IS A PRIORITY FOR YOUTH RECEIVING SERVICES. NAFI OPERATES SEVERAL SCHOOLS IN RESIDENTIAL PROGRAMS AND SUPPORTS STUDENT PARTICIPATION IN PUBLIC SCHOOLS. 5340719 6083068 BEHAVIORAL HEALTH SERVICES: THE NORTH AMERICAN FAMILY INSTITUTE OFFERS A CONTINUUM OF SERVICES FROM PREVENTION, THERAPEUTIC FOSTER CARE, FOSTER CARE, AND RESIDENTIAL TREATMENT PROGRAMS FOR ADJUDICATED DELINQUENTS AND YOUTH REFERRED FROM CHILD WELFARE, MENTAL HEALTH, AND EDUCATIONAL AGENCIES. EDUCATION IS A PRIORITY FOR YOUTH RECEIVING SERVICES. NAFI OPERATES SEVERAL SCHOOLS IN RESIDENTIAL PROGRAMS AND SUPPORTS STUDENT PARTICIPATION IN PUBLIC SCHOOLS. 558832 183037 COMMUNITY BUILDING SERVICES: UTILIZING ITS YOUTH AND POLICE INITIATIVE AND YOUTH LINK PROGRAM, NAFI WORKS WITH URBAN COMMUNITIES TO REDUCE VIOLENCE AND GANG INVOLVEMENT BY YOUTH. NAFI ENGAGES YOUTH AND COMMUNITIES IN POSITIVE SOCIAL CHANGE TO CREATE SUSTAINABLE, POSITIVE RELATIONSHIPS AMONG TEENS AND POLICE, REPLACING ANIMOSITY AND DISTRUST WITH MUTUAL RESPECT AND UNDERSTANDING. THIS PROCESS IS DONE IN PARTNERSHIP WITH SCHOOLS, POLICE DEPARTMENTS, CITY AND NEIGHBORHOOD ORGANIZATIONS, BUSINESSES, DEDICATED INDIVIDUAL LEADERS, AND GREAT KIDS. 1206027 4468371 13257698 true true false false false false false false false false true false false false true true false true false false true false false false true false false false false true false false false false false false false false true false false false false true true true false false true 82 0 true 356 true true true false false false false false false false false false X 11 9 false false false false false false false true true false true true true true true true true true true true true false CA MA NY X X DANIEL NAKAMOTO 9788824858 26 HOWLEY STREET PEABODY MA 01960 DR NANCY GROSSMAN 0.38 1.25 X 0 0 0 DENNIS LEWIS 0.23 0.0 X 0 0 0 DR WILLIAM MADAUS 0.23 0.0 X 0 0 0 ROGER MARCORELLE 0.54 0.46 X 0 0 0 BARNET WEINSTEIN 0.23 0.46 X 0 0 0 JAMES ZAFRIS 0.69 0.46 X 0 0 0 MARGARET N ZUSKY 0.23 0.0 X 0 0 0 HOWARD RICH 0.69 0.46 X X 0 0 0 DR BARBARA VINICK 0.23 0.46 X X 0 0 0 HILDEGARDE PARIS 40.0 0.0 X X 162876 0 5632 DANIEL NAKAMOTO 40.0 2.85 X X 106712 0 8492 DR YITZHAK BAKAL 40.0 0.0 X 270484 0 57863 PAMELA ROCHA 40.0 0.0 X 103441 0 3954 JAMES ISENBERG 40.0 0.29 X 160157 0 4864 STEPHEN HAHN 0.0 40.0 X 122419 0 2712 CHARLES MYERS 0.0 40.0 X 111027 0 8013 PAUL DANN 0.0 40.0 X 130689 0 6364 1167805 0 97894 8 false true false MINDSHIFT TECHNOLOGIES PO BOX 200105 PITTSBURGH PA 15251 INFO TECHNOLOGY 250812 KPMG LLP DEPT 0579 BOX 120001 DALLAS TX 75312 AUDIT 168050 2 68150 111402 48807 179552 FEES/CONTRACTS FROM GOVERNMENT AGENCIES 624100 17559862 17559862 17559862 41161 15156 26005 0 0 0 0 0 0 0 0 0 232 0 -232 -232 -232 68150 59729 -59729 -59729 0 0 0 MISCELLANEOUS 624100 1967 1967 1967 17722581 17561829 15156 -33956 0 0 0 0 834200 834200 0 8251924 6901372 1350552 0 0 1697344 1289219 408125 671148 509771 161377 37190 37190 16032 16032 184481 184481 0 0 0 710095 377800 332295 3837 3402 435 63543 40720 22823 323580 323580 0 626154 332710 293444 381776 291082 90694 0 85488 10153 75335 114344 107618 6726 0 1080656 900596 180060 133160 111525 21635 PROVIDER STIPEND/FAM PMT 1299308 1299308 CONSUMABLES 740647 740647 TELECOMMUNICATIONS 125070 83112 41958 EQUIPMENT 92888 65948 26940 268363 192715 75648 17741228 13257698 4483530 0 0 0 1349654 1360585 0 0 1503005 1861766 3000 0 0 0 564606 541162 0 0 168921 168732 14204949 9829589 5342790 4375360 302784 337222 0 0 0 0 0 0 68313 118274 9303073 8763101 2003584 2235241 0 0 1558665 939543 0 0 0 0 0 0 2242983 2066922 0 0 340633 348396 6145865 5590102 X 3034133 3056838 123075 116161 0 0 3157208 3172999 9303073 8763101 X -18647 34438 X false true X true true true X false false false 141834 191370 204575 322861 179552 1040192 25287938 24006305 20674993 18215355 17559862 105744453 0 0 0 25429772 24197675 20879568 18538216 17739414 106784645 0 0 0 106784645 6444 461 26402 25693 41161 100161 0 6444 461 26402 25693 41161 100161 0 18966 3020 8887 6047 1967 38887 25455182 24201156 20914857 18569956 17782542 106923693 0.99870 0.99893 0.00094 0.00074 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 359753 359753 2047950 1062291 985659 9992966 7594990 2397976 1308827 823587 485240 495453 348721 146732 4375360 0 DUE TO AFFILIATES 348396 348396 X 18675372 34438 858624 893062 17782310 -59729 -59729 17722581 18659581 858624 59729 918353 17741228 17741228 FIN 48 PART X, LINE 2 NAFI IS AN ORGANIZATION DESCRIBED UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS GENERALLY EXEMPT FROM INCOME TAXES UNDER IRC SECTION 501(A). NAFI HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. REVENUE INCLUDED ON RETURN NOT IN FINANCIAL STATEMENTS PART XI, LINE 4B RECLASS OF FUNDRAISING EXPENSES (59,729) EXPENSES INCLUDED IN FINANCIAL STATEMENTS NOT ON RETURN PART XII, LINE 2D RECLASS OF FUNDRAISING EXPENSES 59,729 Central America and the Caribbean Program Services SEE PART V 4876 4876 4876 false false false false false false PROGRAM SERVICE ACTIVITY PART I, LINE 3 TRAINING OF SOCIAL SERVICE PERSONNEL CHANGE THE GAME 68150 68150 59729 0 68150 68150 59729 59729 -59729 X X X false true false false false false false false false HILDEGARDE PARIS 162601 0 0 0 275 0 0 0 5632 0 168508 0 0 0 DR YITZHAK BAKAL 270484 0 0 0 0 0 50000 0 7863 0 328347 0 0 0 JAMES ISENBERG 160157 0 0 0 0 0 0 0 4864 0 165021 0 0 0 SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN PART I, LINE 4B DR. YITZHAK BAKAL PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE DEFERRED COMPENSATION IS REPORTED IN SCHEDULE J, PART II, COLUMN C. X 30000 FMV X 6 860 FMV X INSTRUCTIONAL SUPPLIES 2 12522 FMV X TOYS FOR YOUTH 301 5000 FMV X GIFT CARDS 26 425 CASH VALUE false true false NEW PROGRAM SERVICE PART III, LINE 2 THE ORGANIZATION BEGAN PROVIDING BEHAVIORAL HEALTH SERVICES IN RHODE ISLAND PRIMARY CARE PRACTICES. OTHER PROGRAM SERVICES PART III, LINE 4D OTHER PROGRAMS CONSIST OF INTERCOMPANY TRANSACTIONS WITH FOUR SUBSIDIARY CORPORATIONS. FORM 990 REVIEW PROCESS PART VI, SECTION B, QUESTION 11B INFORMATION IS GATHERED FROM THE BUSINESS OFFICE/EXECUTIVE DIRECTOR BY THE CHIEF FINANCIAL OFFICER AND USED TO POPULATE THE FORM 990 IN CONJUNCTION WITH INDEPENDENT TAX AUDITORS. ONCE COMPLETED, THE DRAFT FORM IS REVIEWED AND FORWARDED BY THE CFO TO THE NAFI/NFI AUDIT COMMITTEE FOR REVIEW PRIOR TO ITS SUBMISSION. THE AUDIT COMMITTEE HAS BEEN AUTHORIZED TO REVIEW AND APPROVE THE FORM 990 ON BEHALF OF THE BOARD OF DIRECTORS. A FILING COPY OF THE FORM 990 IS PROVIDED TO EACH BOARD MEMBER PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. CONFLICT OF INTEREST PART VI, SECTION B, QUESTION 12C IN ADDITION TO SUBMISSION OF SIGNED BOARD MEMBER ANNUAL STATEMENT AFFIRMING RECEIPT OF THE CONFLICT OF INTEREST POLICY, THAT THEY HAVE READ AND UNDERSTAND THE POLICY, THAT THEY AGREE TO COMPLY WITH THE POLICY AND UNDERSTAND THAT THE CORPORATION IS CHARITABLE AND MUST ENGAGE IN ACTIVITIES WHICH ACCOMPLISH ITS CHARITABLE PURPOSES, BOARD MEMBERS HAVE A DUTY TO DISCLOSE POSSIBLE CONFLICTS OF INTEREST. WHEN SUCH A DISCLOSURE IS MADE, THE BOARD OF DIRECTORS WILL DISCUSS THE ISSUE WITH THE INTERESTED PARTY. THE INTERESTED PARTY WILL THEN LEAVE THE BOARD MEETING WHILE A DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. IF THE BOARD HAS REASONABLE CAUSE TO BELIEVE THAT A DIRECTOR HAS FAILED TO DISCLOSE A POSSIBLE CONFLICT OF INTEREST, THE BOARD WILL AFFORD THAT DIRECTOR AN OPPORTUNITY TO EXPLAIN. THE BOARD WILL CONDUCT FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES. THAT DIRECTOR WILL BE RECUSED FROM THE BOARD MEETING WHILE A DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. IF THE BOARD DETERMINES THAT THE BOARD MEMBER FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. COMPENSATION POLICY PART VI, SECTION B, QUESTION 15 THE PROCESS FOR DETERMINING THE COMPENSATION OF NAFI TOP MANAGEMENT OFFICIALS, INCLUDING THE CEO, ALL OFFICERS, AND KEY EMPLOYEES, MEETS THE THREE REQUIREMENTS OF THE REBUTTABLE PRESUMPTION PROVISIONS UNDER TREAS. REG. 53.4958-6. THE COMPENSATION ARRANGEMENT IS APPROVED IN ADVANCE BY THE ORGANIZATION'S BOARD OF DIRECTORS WHO ARE INDEPENDENT OF MANAGEMENT AND FREE OF ANY CONFLICTS OF INTEREST THAT WOULD INTERFERE WITH THEIR EXERCISE OF INDEPENDENT JUDGMENT. PRIOR TO MAKING ANY COMPENSATION DECISIONS, NAFI CONDUCTS PERIODIC ANALYSIS OF LIKE POSITIONS AT COMPARABLE HUMAN SERVICE ORGANIZATIONS. THE CEO COMPLETES EVALUATION SUMMARIES OF ALL EXECUTIVE DIRECTORS WHICH ARE REVIEWED, DISCUSSED AND APPROVED AT AN EXECUTIVE SESSION OF THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS ALSO COMPLETES AN EVALUATION SUMMARY FOR THE CEO AND FOLLOWS THE SAME REVIEW AND APPROVAL PROCESS. ONCE COMPENSATION IS DETERMINED, IT IS ADEQUATELY DOCUMENTED BY THE CEO AND BOARD OF DIRECTORS. PUBLIC DISCLOSURE PART VI, SECTION C, QUESTION 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE UPON REQUEST. THE FORM 990 IS ALSO POSTED ON THE WEBSITE OF THE MASSACHUSETTS'S ATTORNEY GENERAL AND WWW.GUIDESTAR.ORG. NFI MASSACHUSETTS INC 26 HOWLEY STREET PEABODY MA 01960 237378470 SOCIAL SVCS MA 501(C)(3) 9 NAFI true NFI NORTH INC 40 PARK LANE CONTOOCOOK NH 03229 043161042 SOCIAL SVCS NH 501(C)(3) 9 NAFI true NFI VERMONT INC 30 AIRPORT RD SOUTH BURLINGTON VT 05403 030304434 SOCIAL SVCS VT 501(C)(3) 9 NAFI true NAFI CONNECTICUT INC 20 BATTERSON PARK RD STE 301 FARMINGTON CT 06032 900059160 SOCIAL SVCS CT 501(C)(3) 9 NAFI true THE CAPTIVE ADVANTAGE LLC PO BOX 52108 BOSTON MA 02205 264681578 CAPTIVE CELL DE NAFI EXCLUDED 6632 62019 false true 0.22200 false false false true false true false false false true false true false true true true true false false NFI VEMRONT INC l 612931 % OF REVENUE NFI MASSACHUSETTS INC l 992339 % OF REVENUE NFI MASSACHUSETTS INC n 141124 ACTUAL EXPENSE NFI MASSACHUSETTS INC p 108317 ACTUAL EXPENSE NFI NORTH INC l 769236 % OF REVENUE NFI NORTH INC p 80612 ACTUAL EXPENSE NAFI CONNECTICUT INC l 1058797 % OF REVENUE NAFI CONNECTICUT INC j 256882 ACTUAL EXPENSE NAFI CONNECTICUT INC p 147424 ACTUAL EXPENSE NFI NORTH INC j 59484 ACTUAL EXPENSE RELATED PARTY TRANSACTIONS PART V NFI VERMONT NORTH AMERICAN FAMILY INSTITUTE, INC. (NAFI), AN AFFILIATE, CHARGES AN ADMINISTRATIVE MANAGEMENT FEE FOR SUPPORTING SERVICE COSTS THAT NAFI INCURS ON BEHALF OF THE SUBSIDIARIES. THESE ALLOCATED COSTS AMOUNTED TO $612,931 FOR THE YEAR ENDED JUNE 30, 2013, AND HAVE BEEN INCLUDED IN THE ACCOMPANYING STATEMENTS OF ACTIVITIES AND FUNCTIONAL EXPENSES. IN ADDITION, NFIV PAYS NAFI A PROPERTY CHARGE FOR USAGE OF CERTAIN FIXED ASSETS OF NAFI. THIS CHARGE WAS $10,776 FOR THE YEAR ENDED JUNE 30, 2013 AND HAS BEEN INCLUDED IN THE ACCOMPANYING STATEMENTS OF ACTIVITIES AND FUNCTIONAL EXPENSES. COST REIMBURSEMENT OVERPAYMENTS HAVE RESULTED IN A BALANCE DUE FROM NAFI AS OF JUNE 30, 2013 IN THE AMOUNT OF $31,942. THIS AMOUNT HAS BEEN REPORTED AS DUE FROM AFFILIATE IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION AND THE CURRENT PORTION, $17,995 IS EXPECTED TO BE RECEIVED WITHIN ONE YEAR. UNDERPAYMENTS HAVE RESULTED IN BALANCE DUE TO NAFI AS OF JUNE 30, 2013 IN THE AMOUNT OF $19,900. THIS AMOUNT HAS BEEN REPORTED AS DUE TO AFFILIATE IN THE ACCOMPANYING FINANCIAL POSITION AND ALL IS EXPECTED TO BE PAID WITHIN ONE YEAR. NFI MASSACHUSETTS NORTH AMERICAN FAMILY INSTITUTE, INC. (NAFI), AN AFFILIATE, CHARGES AN ADMINISTRATIVE MANAGEMENT FEE AND AN ESTIMATED PROPERTY USAGE FEE FOR SUPPORTING SERVICE COSTS THAT NAFI INCURS ON BEHALF OF THE SUBSIDIARIES. THESE ALLOCATED COSTS AMOUNTED TO $1,133,463 FOR THE YEAR ENDED JUNE 30, 2013 AND HAVE BEEN INCLUDED IN SUPPORTING SERVICES IN THE ACCOMPANYING STATEMENT OF ACTIVITIES AND FUNCTIONAL EXPENSES. IN ADDITION, NFI PAYS NAFI A PROPERTY CHARGE FOR USAGE OF CERTAIN FIXED ASSETS OF NAFI. THIS CHARGE WAS $27,047 FOR THE YEAR ENDED JUNE 30, 2013 AND HAS BEEN INCLUDED IN THE ACCOMPANYING STATEMENTS OF ACTIVITIES AND FUNCTIONAL EXPENSES. COST REIMBURSEMENT OVERPAYMENTS HAVE RESULTED IN A BALANCE DUE FROM NAFI AS OF JUNE 30, 2013 IN THE AMOUNT OF $108,317. THIS AMOUNT HAS BEEN REPORTED AS DUE FROM AFFILIATE IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION AND THE CURRENT PORTION, $44,432 IS EXPECTED TO BE RECEIVED WITHIN ONE YEAR. NFI NORTH NORTH AMERICAN FAMILY INSTITUTE, INC. (NAFI), AN AFFILIATE, CHARGES AN ADMINISTRATIVE MANAGEMENT FEE FOR SUPPORTING SERVICE COSTS THAT NAFI INCURS ON BEHALF OF THE SUBSIDIARIES. THESE ALLOCATED COSTS AMOUNTED TO $769,236 FOR THE YEAR ENDED JUNE 30, 2013, AND HAVE BEEN INCLUDED IN SUPPORTING SERVICES EXPENSES IN THE ACCOMPANYING STATEMENTS OF ACTIVITIES AND FUNCTIONAL EXPENSES. IN ADDITION, NFIN PAYS NAFI A PROPERTY CHARGE FOR USAGE OF CERTAIN FIXED ASSETS OF NAFI. THIS CHARGE WAS $59,484 FOR THE YEAR ENDED JUNE 30, 2013, AND HAS BEEN INCLUDED IN THE ACCOMPANYING STATEMENTS OF ACTIVITIES AND FUNCTIONAL EXPENSES. COST REIMBURSEMENT OVERPAYMENTS HAVE RESULTED IN A BALANCE DUE FROM NAFI AS OF JUNE 30, 2013 IN THE AMOUNT OF $80,612. THIS AMOUNT HAS BEEN REPORTED AS DUE FROM AFFILIATE IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION AND THE CURRENT PORTION, $38,841 IS EXPECTED TO BE RECEIVED WITHIN ONE YEAR. NAFI CONNECTICUT NORTH AMERICAN FAMILY INSTITUTE, INC. (NAFI), AN AFFILIATE, CHARGES AN ADMINISTRATIVE MANAGEMENT FEE FOR SUPPORTING SERVICE COSTS THAT NAFI INCURS ON BEHALF OF THE SUBSIDIARIES. THESE ALLOCATED COSTS AMOUNTED TO $1,058,797 FOR THE YEAR ENDED JUNE 30, 2013 AND HAVE BEEN INCLUDED IN SUPPORTING SERVICES EXPENSES IN THE ACCOMPANYING STATEMENTS OF ACTIVITIES AND FUNCTIONAL EXPENSES. NAFICT PAYS NAFI A PROPERTY CHARGE FOR USAGE OF CERTAIN FIXED ASSETS OF NAFI, IN ADDITION TO PERSONNEL EXPENSES FOR SUPPORTING SERVICE COSTS. THESE CHARGES WERE $256,882 AND $48,389, RESPECTIVELY FOR THE YEAR ENDED JUNE 30, 2013 AND HAVE BEEN INCLUDED IN THE ACCOMPANYING STATEMENTS OF ACTIVITIES AND FUNCTIONAL EXPENSES. COST REIMBURSEMENT OVERPAYMENTS HAVE RESULTED IN A BALANCE DUE FROM NAFI AS OF JUNE 30, 2013 IN THE AMOUNT OF $147,424. THIS AMOUNT HAS BEEN REPORTED AS DUE FROM AFFILIATE IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION AND THE CURRENT PORTION, $98,282 IS EXPECTED TO BE RECEIVED WITHIN ONE YEAR. NAFI AND AFFILIATED CORPORATIONS MAY PERIODICALLY MAKE SHORT TERM LOANS, NOT TO EXCEED ONE YEAR, TO ITS AFFILIATED CORPORATION, SECURED BY DOCUMENTATION EVIDENCING SUCH INDEBTEDNESS. THE DOCUMENTATION SHALL INCLUDE DATE AND AMOUNT OF THE REQUEST, INTEREST RATE AND OTHER APPROPRIATE TERMS APPROVED BY THE EXECUTIVE DIRECTOR OF ADMINISTRATIVE SERVICES AND THE EXECUTIVE DIRECTOR OF THE BORROWING AFFILIATED CORPORATION. FOR THE YEAR ENDED JUNE 30, 2013, NAFICT PROVIDED SUPPORT TO ITS AFFILIATES THROUGH USE OF CERTAIN CASH RESERVES WITH AN INTEREST FEE, BASED ON PRIME RATE LESS 0.50%. THE AMOUNT OF RELATED INTEREST INCOME RECORDED IN THE ACCOMPANYING STATEMENT OF ACTIVITIES FOR THE YEAR ENDED JUNE 30, 2013 WAS NOT SIGNIFICANT.