Edition: Model Aviation - 2002/09
Page Numbers: 156

AMA News - Executive VP's Report

Doug Holland AMA Executive VP

3517 Fernwood Dr. Raleigh, NC 27612 Home: (919) 787-5163 Office: (919) 787-7454

Last month I gave you the Statements of Financial Position. This month I am presenting the Statements of Activities.

The Statements of Activities show the profit for the two years; that profit or loss is reported as an increase or decrease in net assets. A decrease, of course, 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

UNRESTRICTED NET ASSETS

#### REVENUE

  • Membership: 2001 — $6,448,031 (82.9%); 2000 — $6,468,521 (83.9%)
  • Club charter fees: 2001 — $122,845 (1.6%); 2000 — $120,945 (1.6%)
  • Event sanctions and insurance: 2001 — $42,896 (0.6%); 2000 — $37,747 (0.5%)
  • Supply, souvenir and merchandising sales: 2001 — $161,160 (2.1%); 2000 — $134,036 (1.7%)
  • Model Aviation advertising: 2001 — $722,870 (9.3%); 2000 — $784,920 (10.2%)
  • Model Aviation subscriptions: 2001 — $92,556 (1.2%); 2000 — $87,967 (1.1%)
  • Total revenue: 2001 — $7,590,358 (97.7%); 2000 — $7,634,136 (99.0%)
  • Net assets released from restrictions: 2001 — $190,798 (2.3%); 2000 — $81,961 (1.0%)
  • Total revenues and other support: 2001 — $7,781,156 (100.0%); 2000 — $7,716,097 (100.0%)

EXPENSES

  • Operating expenses: 2001 — $5,271,614 (67.8%); 2000 — $4,717,522 (61.1%)
  • Model Aviation magazine direct costs: 2001 — $1,846,359 (23.6%); 2000 — $1,968,963 (25.5%)
  • Supply and souvenir costs: 2001 — $52,060 (0.7%); 2000 — $91,219 (1.2%)
  • Depreciation and amortization: 2001 — $578,035 (7.4%); 2000 — $460,372 (6.0%)
  • Officer services including magazines: 2001 — $190,142 (2.4%); 2000 — $186,506 (2.4%)
  • Committees: 2001 — $65,447 (0.8%); 2000 — $21,581 (0.3%)
  • Total expenses: 2001 — $8,003,657 (102.7%); 2000 — $7,446,163 (96.5%)
  • Increase (decrease) in unrestricted net assets from operations: 2001 — ($222,501) (−2.7%); 2000 — $269,934 (3.5%)

#### OTHER ITEMS

  • Other revenue (expenses) — net: 2001 — ($383,298) (−4.9%); 2000 — $400,793 (5.2%)
  • Additions to museum collection: 2001 — ($2,500); 2000 — ($3,796)
  • Net increase (decrease) for the year (unrestricted): 2001 — ($608,299) (−7.6%); 2000 — $666,931 (8.7%)

TEMPORARILY RESTRICTED NET ASSETS

  • Contributions and interest: 2001 — $188,527 (2.4%); 2000 — $168,893 (2.2%)
  • Net assets released from restrictions: 2001 — ($190,798) (−2.5%); 2000 — ($81,961) (−1.1%)
  • Net change in temporarily restricted net assets: 2001 — ($2,271) (−0.1%); 2000 — $86,932 (1.1%)

INCREASE (DECREASE) IN NET ASSETS

  • Total increase (decrease) in net assets: 2001 — ($610,570) (−7.7%); 2000 — $753,863 (9.8%)

NET ASSETS

  • Beginning of year: 2001 — $10,040,047; 2000 — $9,286,184
  • End of year: 2001 — $9,429,477; 2000 — $10,040,047

Transcribed from original scans by AI. Minor OCR errors may remain.