FP Report -- November 1999
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
Assets
May 31, 1999
May 31, 1998
Cash and cash equivalents $ 11,249,567 $ 11,363,479 Receivables 6,989,824 5,909,966 Income tax refund receivable 1,895,547 1,895,547 Inventory of publication materials 100,739 96,251 Prepaid expenses and other assets 2,529,569 1,405,757 Marketable securities at fair value 47,490,180 39,138,830 Property and equipment: Land 495,000 495,000 Office buildings, improvements 4,558,589 2,793,757 Office equipment, furniture, fixtures 9,076,357 8,250,236 Less allowances for depreciation 14,129,946 11,538,993 (6,774,910) ( 5,953,357) 7,355,036 5,585,636 Investments in deferred compensation plan at fair value 2,155,379 1,807,594 Total assets $ 79,765,841 $ 67,203,060 Liabilities and Net Assets Liabilities and deferred revenue: Accounts payable $ 4,327,313 $ 3,153,472 Accrued expenses and other liabilities 4,069,737 3,573,728 Unearned revenue 17,297,976 15,109,824 Liability for deferred compensation plan 2,155,379 1,807,594 Income taxes payable 2,037,619 2,051,358 Deferred rent concessions 283,387 933,788 Total liabilities 30,171,411 26,629,764 Net assets: unrestricted 49,594,430 40,573,296 Total liabilities and net assets $ 79,765,841 $ 67,203,060
Consolidated Statements of Activities
Year Ended May 31 Revenues 1999
1998
Membership dues and fees $ 13,492,260 $ 13,462,957 Publications 18,959,783 18,912,931 Programs and miscellaneous 23,749,399 22,767,506 Investment income 4,384,218 5,252,020 60,585,660 60,395,414 Expenses Membership services and programs 31,332,513 28,643,208 Publications 11,127,888 10,985,565 General and administrative 11,282,495 10,311,372 Income taxes 2,389,132 1,902,182 56,132,028 51,842,327 Revenues in excess of expenses 4,453,632 8,553,087 Other income: Income tax refunds 60,663 -- Net unrealized gains on marketable securities 1,458,914 989,360 Gain on sale of partnership interest -- 2,397,004 Insurance refund 3,047,925 --
Change in net assets 9,021,134 11,939,451 Net assets at beginning of year 40,573,296 28,633,845 Net assets at end of year
$ 49,594,430
$ 40,573,296
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 © 1999 by American Academy of Family Physicians.
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