Annual Financial Report Following is not-for-profit ALOA SPAI’s Statement of Financial Position (similar to a balance sheet) and Statements of Activities (similar to an income statement/profit-and-loss), as audited by the accounting firm of Sutton Frost Carry LLP. Statement of Financial Position ASSETS Current Assets: Cash Accounts 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 LIABILITIES AND NET ASSETS Current liabilities: Accounts payable Accrued expenses Deferred dues Deferred exhibit fees Total liabilities Net assets: Without donor restrictions: Undesignated Board designated for support of the legislative fund Total net assets Total liabilities and net assets 38 KEYNOTES JULY/AUGUST 2019 $ 1,100,553 153,643 62,211 943 134,739 1,452,089 97,500 858,919 259,239 1,215,658 (581,610) 634,048 $ 2,086,137 Statements of Activities REVENUES Membership dues and services Convention Educational programs Legislative income Advertising Promotional programs Interest Miscellaneous Total revenues EXPENSES Program services Supporting services Total expenses Increase in net assets Net assets at beginning of year Net assets at end of year $ 30,452 57,023 632,896 315,388 1,035,759 1,029,725 20,653 1,050,378 $ 2,086,137 WWW.ALOA.ORG $ 1,284,682 905,890 210,952 71,279 201,488 58,195 42 2,265 2,734,793 $ 2,262,325 405,448 2,667,773 67,020 983,358 $ 1,050,378 The organization adopted FASB ASU 2016-2014, Presentation of Financial Statements for Not-for-Profit Entities, as of and for the year ended December 31, 2018. Accordingly, on the Statements of Activities, expenses have been grouped into two categories: Program services and Supporting services. These format changes have effectively eliminated the traditional year-over-year comparisons format, but these will return under the new format for the 2019 fiscal year audit.
