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 2017 Current Assets Cash Accounts receivable Pledge receivable Inventory Due from affiliate Prepaid expenses Total current assets Property and equipment Land Building and improvements Furniture and equipment Less accumulated depreciation Property and equipment, net Total Assets $ 1,012,192 134,948 — 54,864 137 102,540 1,304,681 97,500 858,919 259,239 1,215,658 (532,026) 683,632 $ 1,988,313 LIABILITIES AND NET ASSETS Current liabilities Accounts payable Accrued expenses Deferred dues Deferred exhibit fees Due to affiliate Note payable to affiliate Total liabilities Net assets: Unrestricted: Undesignated Board designated for support of the legislative fund Total net assets Total liabilities and net assets 2016 $ 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 Membership dues and services Convention Educational programs Legislative income Advertising Promotional programs Interest Miscellaneous Total revenues EXPENSES Administrative Convention Keynotes magazine Building operations Member services Depreciation $ 69,444 78,498 616,988 215,025 — 25,000 1,004,955 962,705 20,653 983,358 $ 1,988,313 $ 96,027 75,429 618,480 288,535 2,623 50,000 1,131,094 819,260 20,653 839,913 1,971,007 Promotional programs Educational programs Legislative expense Committee Total expenses Increase in net assets Net assets at beginning of year Net assets at end of year Statement of Net Activities (P&L) REVENUES $ 1,238,119 988,122 199,749 101,230 157,157 48,034 21 1,594 2,734,026 $ 1,078,884 570,289 500,433 129,650 66,348 62,992 30,549 115,127 34,156 2,153 2,590,581 143,445 839,913 $ 983,358 Temporarily Unrestricted Restricted Total — 1,238,119 — 988,122 — 199,749 — 101,230 — 157,157 — — — 48,034 21 1,594 — 2,734,026 — 1,078,884 — 570,289 — 500,433 — 129,650 — — — — — 66,348 62,992 30,549 — 115,127 34,156 2,153 — 2,590,581 — 143,445 — 839,913 — 983,358 WWW.ALOA.ORG JULY/AUGUST 2018 KEYNOTES 27
