Executive Vice President - 2006/08
Contact
- Doug Holland — [email protected]
- 3517 Fernwood Dr., Raleigh, NC 27612
- Home: (919) 878-5163
- Work: (919) 787-7454
Statements of Activities (August)
For the month of August, I am presenting the Statements of Activities. This statement shows the net increase or 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; below, under Expenses, are categories of expenses related to that income.
Looking at Model Aviation: after advertising income for 2005 is subtracted from the magazine's direct costs, there is a shortfall of roughly $1,200,000. However, a portion of each membership that includes Model Aviation is allocated toward the magazine to make up this difference. This is standard practice in the association world.
The Net Assets begin with the numbers from the Balance Sheet and add to or subtract from them the gain or loss for the year. The end-of-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...
Transcribed from original scans by AI. Minor OCR errors may remain.
