152 MODEL AVIATION
FOR THE MONTH of August, I am
presenting the Statements of Activities. This
statement shows the net increase/decrease in
net assets.
While there was a gain in 2004, there
was a loss in 2005. Under Unrestricted Net
Assets Revenue, you will find the sources of
the funds and below, under expenses, are
categories of expenses relating to income.
The shortfall of roughly $1,200,000 in
Model Aviation magazine direct cost is
covered by dues. Approximately $8/member
goes toward the cost of the magazine. The
magazine provides information on many of
our disciplines including a section in the
back for club news. The challenge is to get
everyone to read the magazine.
The Net Assets begin with the numbers
from the Balance Sheet and adds to it or
subtracts from it the gain/loss for the year.
The end-of-the-year line is the same as the
Net Worth/Net Assets on the Statements of
Financial Position presented last month.
When difficulties arise, do not let them
make you bitter, but better.
A-B-C: Always Be Courteous.
Until later …
Doug Holland
3517 Fernwood Dr.
Raleigh NC 27612
Home: (919) 878-5163
Work: (919) 787-7454
Executive Vice President
Doug Holland; [email protected]
Edition: Model Aviation - 2006/08
Page Numbers: 152