November 2001 • POST-ASSEMBLY EDITION
Financial Summary
This financial summary has been prepared to present an overall picture of
AAFP's financial condition and operatons.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION May 31, 2001 May 31, 2000 Assets Cash and cash equivalents $3,946,507 $77,477,10 Receivables (net) 6,849,057 8,514,261 Income tax refund receivable 6,697,900 2,275,000 Interest receivable on income tax refund 6,848,661 -- Inventory of publication materials 81,039 109,266 Prepaid expenses and other assets 2,410,217 3,270,410 Marketable securities at fair value 38,762,996 38,840,809 Deferred tax asset 345,487 -- Property and equipment Land 5,781,848 5,781,848 Office buildings 30,609,715 29,785,415 Office equipment, furniture and fixtures 9,725,298 9,128,013 44,116,861 44,695,276 Less allowances for depreciation (6,664,997) (4,951,591) 39,451,864 39,743,685 Investments in deferred compensation plan at fair value 1,689,294 1,969,523 Total assets 107,083,022 102,470,664 Liabilities and Net Assets Liabilities and unearned revenues: Accounts payable $3,883,160 4,370,383 Accrued expenses and other liabilities 4,488,837 4662479 Unearned revenue 19,260,888 18,138,878 Mortgage note payable 22,554,192 23487400 Liability for deferred compensation plan 1,689,294 1,969,523 Income taxes payable 2,363,402 2,234,257 54,239,773 54,862,920 Net assets: Unrestricted 52,843,249 47,607,744 Total libilities and net assets $107,083,022 $102,470,664 CONSOLIDATED STATEMENTS OF ACTIVITIES Revenue Membership dues and fees $14,571,271 $14,074,193 Publications 1,891,763 21,379,880 Programs and miscellaneous 25,488,855 23,922,925 Investment income 1,312,188 4,753,091 60,344,077 64,130,089 Expenses Membership services and programs 37805864 33,069,641 Publications 12,516,731 12,880,494 General and administrative 16,075,999 14,885,357 Income taxes 953,658 1,440,186 60,344,077 62,275,678 Other income (Expense): Income tax refunds 4,426,593 28,029 Interest on income tax refunds 6,848,661 -- Net unrealized gains (losses) on marketable securities 968,426 (3,869,126) 12,243,680 (3,841,097) Change in net assets 5,235,505 (1,986,686) Net assets, beginning of year 47,607,744 49,594,430 Net assets, end of year $52,843,249 $47,607,744 The above data are only part of the complete financial statements examined by
PricewaterhouseCoopers LLP, certified public accountants.
FP Report is published by the AAFP News Department.
Copyright © 2001 by American Academy of Family Physicians.
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