INVOLVE was incorporated as a not$-$for$-$profit organization on January $1,2023.$ During the fiscal year ended December $31,2023,$ the following transactions occurred. $1.$ A business donated rent$-$free office space to the organization that would normally rent for $$36,800$ a year. $2.$ A fund drive raised $$194,000$ in cash and $$118,000$ in pledges that will be paid next year. A state government grant of $$168,000$ was received for program operating costs related to public health education. $3.$ Salaries and fringe benefits paid during the year amounted to $$210,360.$ At year$-$end, an additional $$17,800$ of salaries and fringe benefits were accrued. $4.$ A donor pledged $$118,000$ for construction of a new building, payable over five fiscal years, commencing in $2025.$ The discounted value of the pledge is expected to be $$96,060.5.$ Office equipment was purchased for $$13,800.$ The useful life of the equipment is estimated to be five years. Office furniture with a fair value of $$11,400$ was donated by a local office supply company. The furniture has an estimated useful life of $10$ years. Furniture and equipment are considered net assets without donor restrictions by INVOLVE. $6.$ Telephone expense for the year was $$7,000,$ printing and postage expense was $$13,800$ for the year, utilities for the year were $$10,100$ and supplies expense was $$6,100$ for the year. At year$-$end, an Immaterial amount of supplies remained on hand and the balance in accounts payable was $$5,400.7.$ Volunteers contributed $$16,800$ of time to help with answering the phones, mailing materials, and various other clerical activities. $8.$ It is estimated that $90$ preparea schedule of expenses by nature and function for the year ended December $312-23$