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 Security deposit Total current assets Property and equipment: Furniture and equipment Less accumulated depreciation Property and equipment, net Total Assets LIABILITIES AND NET ASSETS 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 $ 2,210,404 71,573 31,088 7,054 104,371 10,500 2,434,990 49,627 (47,802) 1,825 $ 2,436,815 $ 39,523 40,735 693,485 192,625 966,368 1,449,794 20,653 1,470,447 $ 2,436,815 EXPENSES Program services Supporting services Total expenses Change in net assets from operations Non‐operating activity: Forgiveness of Paycheck Protection Program loans Gain on disposal of property and equipment Change in net assets Net assets at beginning of year Net assets at end of year 1,803,002 410,116 2,213,117 (108,875) Statements of Activities REVENUES Membership dues and services Convention Educational programs Advertising Promotional programs Miscellaneous Total revenues $ 1,148,920 490,375 179,381 249,663 31,729 4,174 2,104,242 318,352 349,748 559,225 911,222 $ 1,470,447 WWW.ALOA.ORG JULY/AUGUST 2022 KEYNOTES 31
