American Philatelic Society. Balance Sheet / Statement of Activities

Transcription

1 American Philatelic Society Balance Sheet / December

2 Balance Sheet As of December 31, December 31, December 31, 2012 Current Assets Cash $ 1,669,966 $ 1,486,769 Accounts receivable 132, ,261 Intercompany receivable from APRL 1,262,504 1,195,543 Inventories 118, ,367 Prepaid expenses 179, ,000 Total Current Assets 3,364,171 3,124,940 Investments General Fund 419, ,221 Life Membership Fund 226, ,997 Insurance Fund 1,088, ,519 Tiffany Endowment Fund 566, ,487 Publications Fund 15,951 16,035 Total Investments 2,317,053 2,086,258 Equipment Office equipment 101,586 96,084 Computer systems 787, ,321 Auto 26,589 26,589 Total Equipment 915, ,994 Less depreciation (798,856) (694,942) Net of Depreciation 117, ,052 Other Assets Due from APRL 555, ,000 TOTAL ASSETS $ 6,353,299 $ 5,973,250 Current Liabilities Sales of stamps $ 1,450,120 $ 1,537,999 Less deferred commissions (279,307) (296,102) Net sales liabilities 1,170,813 1,241,898 Accounts payable / Accrued liabilities 159, ,657 Intercompany Payable to APRL 60,279 12,807 Dues collected in advance 1,269,539 1,273,282 Members' Web Account liability 47,613 37,686 Total Current Liabilities 2,707,861 2,897,330 Contingent liabilities Sales Books on Consignment 8,073,437 8,020,929 Value Due to Owners' (8,073,437) (8,020,929) Stamps for Sale on Internet 3,672,011 3,860,730 Value Due to Owners' (3,672,011) (3,860,730) Net Assets Unrestricted Undesignated 1,053, ,096 Board Designated 1,944,137 1,577,995 Temporarily Restricted 85,053 55,324 Permanently Restricted 563, ,504 Total Net Assets 3,645,438 3,075,920 TOTAL LIABILITIES & NET ASSETS $ 6,353,299 $ 5,973,250 Page 1

3 American Philatelic Society - Operations Year Ended December 31, Summary Year-to-Date YTD Budget 2012 Budget Variance Dues & Admissions $ 1,221,633 $ 1,259,241 $ 1,203,513 $ 18,120 Sales Commissions 522, , ,000 (85,537) American Philatelist 486, , ,850 (37,347) Book & Specialty Sales 74,883 83,554 87,350 (12,467) Investments 103,247 93,035 80,646 22,601 Show Revenue 477, , ,750 (21,814) Expertizing Service Fees 128, , ,665 8,567 Life Membership Allocation 42,051 43,225 45,400 (3,349) Educational Services 131, , ,500 4,444 Services to APRL-Fundraising 117, , ,151 (53,656) CFP Funding-Fundraising 43,638 3, ,243 (76,605) Miscellaneous (see page 40) 281, , ,115 4,060 Total Income 3,631,200 3,758,267 3,864,183 (232,983) EXPENSES: (# of Personnel) (1.5) Personnel 1,605,479 1,634,460 1,723,716 (118,237) Postage 138, , ,840 (19,444) Office 65,388 59,496 68,940 (3,552) Rent 120, , ,000 0 Credit Card Costs 67,468 72,222 72,300 (4,832) AP Production\Distribution 452, , ,850 (27,260) Cost of Goods Resold 54,130 56,009 61,000 (6,870) Show Expenses 418, , ,500 (10,561) Meetings 6,586 3,604 4,600 2,007 Dues Collection 22,637 22,698 24,000 (1,363) Travel 42,127 36,586 56,100 (13,973) Recruiting & Promotion 116, , ,800 (22,683) Computer 97, , ,300 (13,843) Officers & Committees 16,786 17,541 18,550 (1,785) Audit, Legal & Professional Serv. 43,213 44,613 62,800 (19,587) Dues, Subscriptions, & Educ. 2,808 1,581 7,800 (4,992) Seminars 50,572 52,664 49,250 1,322 DVD / Slide Programs ,200 (3,155) Miscellaneous 33,570 27,724 29,900 3,670 Youth Programs 1,720 2,693 3,520 (1,800) Total Expenses 3,356,028 3,462,562 3,622,966 (266,938) Operating Net 275, , ,217 33,955 Depreciation (103,914) (101,276) (107,338) 3,424 Unrealized Investment Gains/(Losses) (21,261) 5,817 - (21,261) Contribution to Reserves $ 149,998 $ 200,246 $ 133,879 $ 16,119 Page 2

4 January February March April May June July August September October November December Year-to-Date INSURANCE FUND BEGINNING NET ASSETS: $ 1,150,798 $ 1,185,340 $ 1,197,022 $ 1,222,218 $ 1,232,889 $ 1,249,996 $ 1,236,901 $ 1,276,759 $ 1,255,067 $ 1,291,247 $ 1,334,819 $ 1,353,910 $ 1,150,798 2% Insurance Charge 3,655 4,479 5,771 4,909 4,633 5,864 4,804 5,393 4,677 6,469 5,385 4,996 61,035 Flat Insurance Fee 3,687 3,658 3,524 3,680 4,762 3,966 4,488 5,991 4,512 6,271 4,500 5,404 54,441 Club Insurance Fee ,101 Internet Sales Insurance Fees ,714 APEX Guaranty Insurance Fee ,906 U. S. Postal Service Recoveries Other Recoveries ,842 Investment Income 9,580 1,352 2,032 4,410 1, ,986 99,322 50,932 (204) 1,042 11, ,478 Miscellaneous Income Gross Income 18,181 11,146 12,435 14,434 12,003 11,957 13, ,595 61,292 13,983 12,344 23, ,938 EXPENSES: Loss Claims - SD 3, ,880 6, ,425 1,997 1,110-1,958 3, ,828 Loss Claims - ISU Loss Claims - Expertizing Damage\Substitution Claims - SD Damage\Substitution Claims - ISU ,081 Damage\Substitution Claims - Expertizing In House Inventory Insurance ,394 Business Insurance 2,273 2,273 2,273 2,273 2,273 2,273 1,786 1,786 1,786 1,786 1,786 1,786 24,351 Digitizing Sales Books/Postal Insurance 1,336 1,080 1,375 1,398 1,326 1,130 1,474 1,625 1,150 1,492 1,341 1,107 15,833 Sales books adjustments ,703 Collection Costs Write off Uncollectable Receivables , , (3,071) 109 (2,576) (1,569) APEX Refunds - SD APEX Refunds - ISU Recirculation Costs Miscellaneous Expense Total Expenses 8,811 4,501 10,728 11,397 5,953 5,903 8,716 5,985 4,054 3,308 8,097 1,907 79,360 4% Endowment transfer to General Fund (2,967) (2,786) (3,124) (3,106) (3,246) (3,197) (3,259) (3,395) (3,214) (3,444) (3,476) (3,657) (38,871) Unrealized Investment Gains/(Losses) 28,140 7,823 26,613 10,739 14,303 (15,952) 38,672 (123,908) (17,843) 36,341 18,320 9,952 33,199 ENDING NET ASSETS: $ 1,185,340 $ 1,197,022 $ 1,222,218 $ 1,232,889 $ 1,249,996 $ 1,236,901 $ 1,276,759 $ 1,255,067 $ 1,291,247 $ 1,334,819 $ 1,353,910 $ 1,381,704 $ 1,381,704 LIFE MEMBERSHIP FUND BEGINNING NET ASSETS: $ 46,108 $ 47,274 $ 41,976 $ 43,206 $ 43,220 $ 38,572 $ 34,588 $ 39,388 $ 34,226 $ 39,897 $ 41,834 $ 36,808 $ 46,108 Life Membership Income Earned 1,736 1,736 1,736 1,736 1,736 1,736 1,736 1,736 1,736 1,736 1,736 1,736 20,833 Investment Income (106) (64) (251) 246 (5,595) 16, (295) 45 3,328 15,199 Gross Income 1,630 1,972 1,954 1,672 1,486 1,982 (3,859) 18,281 2,629 1,441 1,781 5,064 36,032 Transfer to General Fund (3,525) (3,514) (3,503) (3,489) (3,521) (3,522) (3,518) (3,514) (3,509) (3,503) (3,471) (3,461) (42,051) Unrealized Investment Gains/(Losses) 3,062 (3,756) 2,779 1,831 (2,612) (2,444) 12,176 (19,929) 6,551 3,999 (3,336) (3,242) (4,921) ENDING NET ASSETS: $ 47,274 $ 41,976 $ 43,206 $ 43,220 $ 38,572 $ 34,588 $ 39,388 $ 34,226 $ 39,897 $ 41,834 $ 36,808 $ 35,168 $ 35,168 Page 3

5 January February March April May June July August September October November December Year-to-Date ENDOWMENT FUNDS JOHN K. TIFFANY FUND: BEGINNING NET ASSETS: $ 505,689 $ 507,535 $ 504,744 $ 503,598 $ 505,400 $ 502,117 $ 487,276 $ 497,621 $ 489,417 $ 512,974 $ 522,690 $ 523,007 $ 505,689 Donations - Restricted, Endowment , ,725 4, ,610 Investment Income 11, ,724 2,830 1,473 (477) (19,462) 5,653 (286) 404 8,990 22,517 Miscellaneous Income Gross Income 11, ,374 11,174 3,380 3,198 4,183 (19,087) 5,653 (286) 1,004 9,890 33,127 EXPENSES: Miscellaneous Expense Total Expenses % Endowment transfer to General Fund (1,718) (1,557) (1,715) (1,656) (1,717) (1,651) (1,655) (1,691) (1,609) (1,743) (1,718) (1,777) (20,207) Unrealized Investment Gains/(Losses) (8,427) (1,885) (806) (7,716) (4,945) (16,388) 7,817 12,574 19,513 11,745 1,030 (2,738) 9,773 ENDING NET ASSETS: $ 507,535 $ 504,744 $ 503,598 $ 505,400 $ 502,117 $ 487,276 $ 497,621 $ 489,417 $ 512,974 $ 522,690 $ 523,007 $ 528,381 $ 528,381 Barbara Mueller AP Award Fund: BEGINNING NET ASSETS: $ 22,096 $ 22,262 $ 22,195 $ 22,176 $ 22,309 $ 22,215 $ 21,555 $ 20,880 $ 20,591 $ 21,650 $ 22,133 $ 22,194 $ 22,096 Donations - Restricted, Endowment Investment Income (21) (817) 238 (12) ,045 Miscellaneous Income Gross Income (21) (817) 238 (12) ,045 EXPENSES: Promotion Recognition Awards , ,000 Total Expenses , ,000 Unrealized Investment Gains/(Losses) (398) (83) (35) (340) (218) (725) (116) 318 ENDING NET ASSETS: $ 22,262 $ 22,195 $ 22,176 $ 22,309 $ 22,215 $ 21,555 $ 20,880 $ 20,591 $ 21,650 $ 22,133 $ 22,194 $ 22,459 $ 22,459 Tom Allen PLR Award Fund: BEGINNING NET ASSETS: $ 15,951 $ 16,071 $ 16,023 $ 16,009 $ 16,105 $ 16,037 $ 15,561 $ 15,295 $ 15,084 $ 15,859 $ 16,213 $ 16,258 $ 15,951 Donations - Restricted, Endowment Investment Income (15) (598) 174 (9) Miscellaneous Income Gross Income (15) (598) 174 (9) EXPENSES: Recognition Awards Total Expenses Unrealized Investment Gains/(Losses) (287) (60) (26) (245) (158) (523) (85) 248 ENDING NET ASSETS: $ 16,071 $ 16,023 $ 16,009 $ 16,105 $ 16,037 $ 15,561 $ 15,295 $ 15,084 $ 15,859 $ 16,213 $ 16,258 $ 16,452 $ 16,452 TOTAL ENDOWMENT FUNDS ENDING BALANCE $ 545,869 $ 542,962 $ 541,783 $ 543,813 $ 540,370 $ 524,392 $ 533,796 $ 525,092 $ 550,483 $ 561,037 $ 561,459 $ 567,293 $ 567,293 Page 4

6 APRL Designated Funds APS Designated Funds Less Transfers to Fund Balance January February March April May June July August September October November December Specified Funds Year-to-Date by Category CAMPAIGN FOR PHILATELY BEGINNING NET ASSETS: $ 365,055 $ 364,836 $ 351,984 $ 344,721 $ 335,358 $ 292,107 $ 504,444 $ 553,977 $ 567,416 $ 559,643 $ 346,977 $ 415,890 $ 365,055 DONATIONS: CFP Undesignated 4,176 2,779 2,251 2,191 1,373 54,682 7,449 2,698 1,087 1,223 41,319 42,848 (2,530) 161,545 $ 65,714 CFP Mighty Buck Club ,474 1, (22,236) (16,173) 11,711 APRL Air Mail Society Room 5, (5,000) - - APRL Building Fund 1, (2,222) - - APRL Debt Reduction ,467 (2,109) - - APRL Dept - Operations (140) - - APRL Dept - Library Acquisitions , (5,615) - - APRL Designated ,405 1,020 1,815 1, , , ,477 92,640 APRL Digitization Project , (50,000) - - APRL Headsville Post Office (150) - - APRL Pavers APRL Roof Renovations (335) - - APRL St. Louis Patio (140) (370) - - APRL Vooy's Fellow , (6,300) - - APS Adult StampBuddy Service 1, ,005 1,005 APS Centre Gifts Foundation , (18,861) (6,361) (0) APS Contributing Member 1, ,360 11,630-30, ,741 APS David Straight Award ,355 1, ,935 7,635 APS Dept - American Philatelist (1,040) - - APS Dept - Circuit Sales (65) - - APS Dept - Education , (5,244) - - APS Dept - Expertizing ,081 28,070 1, (2,825) 28,070 28,070 APS Dept - ISU (349) - - APS Dept - Shows 2, (3,800) - - APS Dept - WS Shows (350) - - APS Dept - Youth (2,184) - - APS Dept - YSCA (360) - - APS Designated , , (592) 12,856 71,313 APS Employee Appreciation (700) - - APS Employee Bonuses APS Estates - Bauer ,691 3, (3,023) 212,896 - APS Expertizing Certificate Digitizatio ,000 APS International Exhibitors Fund (796) (796) - APS Publications Fund ,200 1,200 APS Show Awards , (2,500) - - APS Show Summit ,400-1, (4,550) - - APS Stamps Teach Program ,500 15,950 2,120 13, ,457 (58,023) - - APS Sustaining Member 1,770 1, ,975 11,132-32,962 95,703 APS Teachers Lesson Plans - - 3, (4,483) (1,483) - APS Technology APS Tiffany Endowment , ,475 4, ,650 (11,110) - - APS Web Site , ,005 2,008 APS You-tube Award - - (500) (500) 175 APS YPLF 1, ,755-1,250 6,409 1,315 13, (27,954) - - Library Gift Shop - - 1, , , (11,000) - - Library Book Collection-Air Mail (465) - - Library Book Collection-France Library Book Collection-Germany - - 4, (5,000) (500) - Library Book Collection-Portugal ,000 Library Book Collection-Russia (875) - - Library Book Collection-Switzerland 5, (5,000) - - Library Carrels ,000 (1,000) - - Library Circulation Desk ,000 (15,000) - - Library Construction 10, , , , ,270 2,772 7,398 (52,917) - - Library Digitization (10) - - Page 5

7 APRL Designated Funds APS Designated Funds Less Transfers to Fund Balance January February March April May June July August September October November December Specified Funds Year-to-Date by Category CAMPAIGN FOR PHILATELY Library Founders/Patrons Fund (640) - - Library Park Benches - - (500) Library Rare Books Room (50) - - Library Reference Desk 1st Floor ,000 - (15,000) - - Library Row of Shelves (525) (25) - Library Stacks Gross Income 35,725 7,642 14,287 21,024 6, ,528 85,115 83,384 8,489 27, , ,787 (352,796) 573,070 EXPENSES: $ 511,313 W/O Uncollectable A/R (2,253) - - (2,253) APS Fundraising Costs 3,166 (2,490) 2,063 7,872 (8,485) 32,102 5,529 5,292 4,455 (19,123) 4,650 8,605-43,638 Total Expenses 3,166 (2,490) 2,063 7,872 (8,485) 32,102 5,529 5,292 4,455 (19,123) 2,398 8,605-41,385 Transfer to APRL Bld. Fund for Interest Exp. (1,631) (3,392) (3,383) (3,044) (3,357) (2,485) (3,336) (3,217) (3,312) (3,301) (3,938) (3,279) - (37,675) (a) Transfer to APRL Bld. Fund-Bldg 5-UCBH Ren - (15,478) - - (6,093) (40,600) (62,171) (b) Transfer to APRL Bld. Fund-New Library - (995) - - (45,403) - (12,567) - - (174,444) - (52,171) - (285,581) (c) ENDING NET ASSETS: $ 364,836 $ 351,984 $ 344,721 $ 335,358 $ 292,107 $ 504,444 $ 553,977 $ 567,416 $ 559,643 $ 346,977 $ 415,890 $ 511,313 $ (352,796) $ 511,313 (a) Transfers made 50% out of CFP Undesignated and 50% out of APRL Designated. (b) Transfers made out of CFP Undesignated Funds. (c) Transfers pre-june made out of Library Construction Funds... post-june from Bauer Funds & CFP undesignated. Page 6

8 January February March April May June July August September October November December Year-to-Date YOUNG PHILATELIC LEADERS FELLOWSHIP BEGINNING NET ASSETS: $ 48,209 $ 37,617 $ 34,873 $ 34,264 $ 33,484 $ 34,611 $ 37,925 $ 37,912 $ 37,235 $ 35,962 $ 33,969 $ 34,445 $ 48,209 Donated stamps for postage ,584 Donations (5,945) 726 1, ,109 6,641 1,457 13, (879) 20,084 Investment Income Miscellaneous Income Gross Income (5,327) 726 1, ,109 6,641 1,458 13, (879) 21,668 EXPENSES: (# of Personnel) Personnel ,044 Promotion 590 1, ,653 Free Dues Postage Supplies Travel / Meals / Hotel 4,146 1,550 1, , , ,623-1,922 24,858 Telephone StampShow Booth ,225-2, ,428 Outside services Dues & Subscriptions Miscellaneous Expense Total Expenses 5,264 3,471 2, ,326 1,471 14,179 1,362 2, ,524 38,834 Unrealized Investment Gains/(Losses) ENDING NET ASSETS: $ 37,617 $ 34,873 $ 34,264 $ 33,484 $ 34,611 $ 37,925 $ 37,912 $ 37,235 $ 35,962 $ 33,969 $ 34,445 $ 31,042 $ 31,042 YPLF Fund comprised of: Cash available $ 27,687 Pledges receivable 3,355 Fund balance $ 31,042 Page 7

9 January February March April May June July August September October November December Year-to-Date StampsTeach Program Fund BEGINNING NET ASSETS: $ 890 $ 1,035 $ 425 $ 1,879 $ 1,802 $ 1,802 $ 1,802 $ 1,802 $ 30,252 $ 32,372 $ 40,213 $ 34,618 $ 890 Donated stamps for postage Donations 1,806-1, ,450 2,120 13,319 1,313 13,457 62,252 Miscellaneous Income Gross Income 1, , ,450 2,120 13,339 1,330 13,457 62,790 EXPENSES: (# of Personnel) Personnel Promotion , ,680 Printed Forms ,584 1,789-3,373 Postage 1, , ,321 Supplies Computers Computer Supplies Travel / Meals / Hotel Telephone StampShow Booth Professional Services ,250-3,250 Miscellaneous Expense Total Expenses 1, ,498 6, ,121 Unrealized Investment Gains/(Losses) ENDING NET ASSETS: $ 1,035 $ 425 $ 1,879 $ 1,802 $ 1,802 $ 1,802 $ 1,802 $ 30,252 $ 32,372 $ 40,213 $ 34,618 $ 47,558 $ 47,558 StampsTeach Fund comprised of: Cash available $ 47,558 Pledges receivable - Fund balance $ 47,558 Page 8