WWW.ALOA.ORG JULY/AUGUST 2023 KEYNOTES 39 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. ALOA Security Professionals Association, Inc. Statements of Financial Position December 31, 2022 and 2021 2022 2021 Current assets: Cash 2,014,720 $ 2,210,404 $ Accounts receivable 83,921 71,573 Inventory 37,802 31,088 Due from affiliate 33,158 7,054 Prepaid expenses 112,426 104,371 Total current assets 2,282,027 2,424,490 Noncurrent assets: Security deposit 3,750 10,500 Right‐of‐use asset ‐ operating lease, net 57,802 ‐ Property and equipment, net 13,998 1,825 Total assets 2,357,577 $ 2,436,815 $ Current liabilities: Accounts payable 55,813 $ 39,523 $ Accrued expenses 31,526 40,735 Deferred dues 683,343 693,485 Deferred exhibit fees 184,970 192,625 Right‐of‐use liability ‐ operating lease, current portion 44,231 ‐ Total current liabilities 999,883 966,368 Noncurrent liabilities: Right‐of‐use liability ‐ operating lease, net 11,227 ‐ Total liabilities 1,011,110 966,368 Net assets: Without donor restrictions: Undesignated 1,325,814 1,449,794 Board designated for support of the legislative fund 20,653 20,653 Total net assets 1,346,467 1,470,447 Total liabilities and net assets 2,357,577 $ 2,436,815 $ Assets Liabilities and Net Assets ALOA Security Professionals Association, Inc. Statements of Activities Years Ended December 31, 2022 and 2021 2022 2021 Revenues: Membership dues and services 1,112,870 $ 1,148,920 $ Convention 790,386 490,375 Educational programs 171,865 179,381 Advertising 209,485 249,663 Promotional programs 42,362 31,729 Other income 9,144 4,174 Total revenues 2,336,112 2,104,242 Expenses: Program services 2,095,612 1,803,002 Supporting services 364,480 410,116 Total expenses 2,460,092 2,213,117 Change in net assets from operations (123,980) (108,875) Non‐operating activity: Forgiveness of Paycheck Protection Program loans ‐ 318,352 Gain on disposal of property and equipment ‐ 349,748 Change in net assets (123,980) 559,225 Net assets without donor restrictions at beginning of year 1,470,447 911,222 Net assets without donor restrictions at end of year 1,346,467 $ 1,470,447 $
