Annual Financial Report Following is SPAI’s balance sheet and profit-and-loss statement, as audited by the accounting firm of Sutton Frost Cary LLP. Statement of Financial Positions (Balance Sheet) ASSETS 2016 Current Assets Cash Accounts receivable Pledge receivable Inventory Prepaid expenses Total current assets Property and equipment Land Building and improvements Furniture and equipment Less accumulated depreciation Property and equipment, net Total Assets $ 911,831 125,393 13,211 53,021 120,927 1,224,383 97,500 858,919 259,239 1,215,658 (469,034) 746,624 $ 1,971,007 LIABILITIES AND NET ASSETS Current liabilities Accounts payable Accrued expenses Deferred dues Deferred exhibit fees Due to affiliate Current portion of long-term debt, due to affiliate Total liabilities Net assets: Unrestricted: Undesignated Board designated for support of the legislative fund Total Unrestricted Temporarily restricted Total net assets Total liabilities and net assets 2015 $ 806,945 208,735 11,310 56,919 95,359 1,179,268 97,500 858,919 259,239 1,215,658 (381,922) 833,736 $ 2,013,004 Membership dues and services Convention Educational programs Contributions Legislative income Advertising Promotional programs Interest Miscellaneous Net assets released from restrictions Total revenues EXPENSES Administrative Convention $ 96,027 75,429 618,480 288,535 2,623 50,000 1,131,094 819,260 20,653 839,913 — 839,913 $ 1,971,007 $ 61,045 37,652 702,036 406,250 4,387 75,000 1,286,370 701,555 20,653 722,208 4,426 726,634 $ 2,013,004 Keynotes magazine Building operations Member services Depreciation Promotional programs Educational programs Legislative expense Committee Total expenses Decrease in net assets Net assets at beginning of year Net assets at end of year Statement of Net Activities (P&L) REVENUES $ 1,223,812 907,948 146,505 — 108,117 179,437 35,037 357 7,791 4,874 2,613,878 $ 1,063,672 483,192 506,844 121,759 63,007 87,112 31,749 91,685 44,993 2,160 2,496,173 117,705 722,208 839,913 Temporarily Unrestricted Restricted Total 448 — — — — 1,223,812 — 907,948 — 146,505 448 — 108,117 — 179,437 35,037 357 7,791 (4,874) — (4,426) 2,609,452 — 1,063,672 — 483,192 — 506,844 — 121,759 — — — — — — (4,426) 63,007 87,112 31,749 91,685 44,993 2,160 — 2,496,173 113,279 4,426 726,634 — 839,913 26 KEYNOTES JULY/AUGUST 2017 WWW.ALOA.ORG
