AMA News - Executive VP's Report

Doug Holland AMA Executive VP 3517 Femwood Dr. Raleigh NC 27612 (Home) (919) 787-5163 (Office) (919) 787-7454 Last month I gave you the Statements of Financial Position. This month 1 am presenting the Statements of Activities. The Statements of Activities is showing the profit for the two years and that profit or loss carries the name of increase/decrease in net assets. A decrease obviously means a loss. Many of the numbers have supporting schedules that will be presented at a later date. It is important to save this statement so the later schedules, which explain some of these items in detail, will make sense. Next month I will give you the Statement of Operating Expenses which, as you see on the statement below, totals $5,271,614. Remember, nothing is work until you don't want to do it—then everything is work. Always be courteous. Until later. THE ACADEMY OF MODEL AERONAUTICS, INC. STATEMENTS OF ACTIVITIES YEARS ENDED DECEMBER 31, 2001 AND 2000 2001 2000 Amount Percent Amount Percent UNRESTRICTED NET ASSETS REVENUE Membership Club charter fees Event sanctions and insurance Supply, souvenir and merchandising sales Model Aviation advertising Model Aviation subscriptions Net Assets Released from Restrictions EXPENSES Operating expenses Model Aviation magazine direct costs Supply and souvenir costs Depreciation and amortization Officer services including magazines Committees INCREASE (DECREASE) IN UNRESTRICTED NET ASSETS FROM OPERATIONS OTHER REVENUE (EXPENSES) - NET ADDITIONS TO MUSEUM COLLECTION TEMPORARILY RESTRICTED NET ASSETS Contributions and interest Net assets released from restrictions INCREASE (DECREASE) IN NET ASSETS NET ASSETS Beginning of year End of year $ 6,448,031 122,845 42,896 161,160 722,870 92,556 82.9 1.6 0.6 2.1 9.3 1.2 7,590,358 190,798 97.7 2.3 7,781,156 100.0 5,271,614 1,846,359 52,060 578,035 190,142 65,447 67.8 23.6 0.7 7.4 2.4 0.8 8,003,657 102.7 (222,501) (383,298) (2,500) (2.7) (4.9) (608.299) (7.6) 2.4 (2.5) (0.1) (7.7) 188,527 (190,798) (2.271) (610,570) 10.040,047 $ 9,429,477 $ 6,468,521 120,945 37,747 134,036 784,920 87.967 83.9 1.6 0.5 1.7 10.2 1.1 7,634,136 81.961 99.0 1.0 7.716.097 100.0 4,717,522 1,968,963 91,219 460,372 186,506 21,581 61.1 25.5 1.2 6.0 2.4 0.3 7.446.163 96.5 269,934 400,793 (3,796) 3.5 5.2 666,931 8.7 168,893 (81,961) 2.2 (1.1) 86.932 1.1 753,863 _ 9.8 9,286,184 $ 10,040,047