November 2000 • Volume 6 Number 11
Financial Summary
This financial summary has been prepared to present an overall picture of AAFP's financial condition and operations.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION May 31, 2000 May 31, 1999 Assets Cash and cash equivalents $7,747,710 $11,249,567 Receivables (net) 8,514,261 6,989,824 Income tax refund receivable 2,275,000 1,895,547 Inventory of publication materials 109,266 100,739 Prepaid expenses and other assets 3,270,410 2,529,569 Marketable securities at fair value 38,840,809 47,490,180 Property and equipment: Land 5,781,848 495,000 Office buildings 29,785,415 2,011,609 Office equipment, furniture and fixtures 9,128,013 11,623,337 44,695,276 14,129,946 Less allowance for depreciation (4,951,591) (6,774,910) 39,743,685 7,355,036 Investments in deferred compensation plan at fair value 1,969,523 2,155,379 Total assets $102,470,664 $79,765,841 Liabilities and Net Assets Liabilities and deferred revenues Accounts payable $4,370,383 $4,327,313 Accrued expenses and other liabilities 4,662,479 4,069,737 Unearned revenue 18,138,878 17,297,976 Mortgage note payable 23,487,400 -- Liability for deferred compensation plan 1,969,523 2,155,379 Income taxes payable 2,234,257 2,037,619 Deferred rent concessions -- 283,387 54,862,920 30,171,411 Net assets Unrestricted 47,607,744 49,594,430 Total liabilities and net assets $102,470,664 $79,765,841 CONSOLIDATED STATEMENTS OF ACTIVITIES Revenues Membership dues and fees $14,074,193 $13,492,260 Publications 21,379,880 21,379,880 Programs and miscellaneous 23,922,925 23,749,399 Investment income 4,753,091 4,384,218 64,130,089 60,585,660 Expenses Membership services and programs 33,069,641 1,440,186 Publications 12,880,494 11,127,888 General and administrative 14,885,357 11,282,495 Income taxes 1,440,186 2,389,132 62,275,678 56,132,028 Revenues in excess of expenses 1,854,411 4,453,632 Other income (expense): Income tax refunds 28,029 60,663 Net unrealized gains (losses) on marketable securities (3,869,126) 1,458,914 Insurance refund -- 3,047,925 Change in net assets (1,986,686) 9,021,134 Net asstes, beginning of year 49,594,430 40,573,296 Net assets, end of year $47,607,744 $49,594,430 The above data are only a part of the complete financial statements examined by PricewaterhouseCoopers LLP, certified public accountants.
FP Report is published by the AAFP News Department.
Copyright © 2000 by American Academy of Family Physicians.
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