American Â鶹´«Ã½AV of Arts and Sciences and Affiliates Consolidated Statement of Financial Position as of June 30, 2023
| ASSETS | |
|---|---|
| Current Assets | |
| Cash | $4,307,093 |
| Accounts receivable | $109,773 |
| Current portion of grants and pledges receivable | $5,411,144 |
| Other current assets | $305,386 |
| Total current assets |
$10,133,396 |
| Grants and Pledges Receivable, net | $7,761,545 |
| Investments | $79,980,946 |
| Beneficial Interest in Perpetual Trust for Science | $2,692,655 |
| Right-of-Use Asset–Operating Lease | $438,383 |
| Property and Equipment, net | $11,701,796 |
| Total assets | $112,708,721 |
| LIABILITIES AND NET ASSETS | |
|---|---|
| Current Liabilities | |
| Current portion of note payable | $200,424 |
| Accounts payable and accrued expenses | $1,663,926 |
| Total current liabilities |
$1,864,350 |
| Note Payable, net of current portion | $1,598,999 |
| Total liabilities |
$3,463,349 |
| Net Assets | |
| Without donor restrictions | |
| Operating | $2,601,964 |
| Board designated | $13,921,137 |
| Property and equipment | $10,340,756 |
| Total unrestricted |
$26,863,857 |
| With donor restrictions | $82,381,515 |
| Total net assets | $109,245,372 |
| Total liabilities and net assets | $112,708,721 |
AAFCPAs conducted the audit of the Â鶹´«Ã½AV’s statements of financial position for the fiscal year 2023 (July 1, 2022–June 30, 2023). A copy of the audited financial statements is available on the Â鶹´«Ã½AV’s website and upon request.
American Â鶹´«Ã½AV of Arts and Sciences and Affiliates Consolidated Statement of Activities and Changes in Net Assets For the Year Ended June 30, 2023
| REVENUES | |
|---|---|
| Gifts and grants | $4,641,547 |
| Investment return designated for operations | $3,302,801 |
| Annual appeal | $2,527,151 |
| University affiliates | $1,660,000 |
| Membership dues | $1,221,291 |
| Other revenue | $150,797 |
| Income distribution from Permanent Science Fund | $120,000 |
| Subtotal |
$13,623,587 |
| Norton’s Woods events revenue | $195,893 |
| Less: Norton’s Woods events expenses | ($382,084) |
| Norton’s Woods events, net | ($186,191) |
| Total revenues | $13,437,396 |
| EXPENSES | |
|---|---|
| Program services | $9,745,224 |
| Support services | $6,230,415 |
| Forum for the Future of Higher Education | $1,004,342 |
| Total expenses | $16,979,981 |
| Changes in net assets from operations | ($3,542,585) |
| OTHER REVENUES (EXPENSES) | |
|---|---|
| Investment returns | $3,817,957 |
| Less–spending policy | ($3,302,801) |
| Contributions to endowment | $2,605,265 |
| Increase (Decrease) in beneficial interest in perpetual trust | $8,244 |
| Total other revenues (expenses) | $3,128,665 |
| Changes in net assets | ($413,920) |
| NET ASSETS | |
|---|---|
| Beginning of year | $109,659,292 |
| End of year | $109,245,372 |