American Â鶹´«Ã½AV of Arts and Sciences and Affiliates Consolidated Statement of Financial Position as of June 30, 2024
Assets | |
|---|---|
| Current Assets | |
| Cash | $6,586,195 |
| Accounts receivable | $247,786 |
| Current portion of grants and pledges receivable | $3,306,339 |
| Other current assets | $379,232 |
| Total current assets | $10,519,552 |
| Grants and Pledges Receivable, net | $4,886,111 |
| Investments | $84,590,719 |
| Beneficial Interest in Perpetual Trust for Science | $2,865,105 |
| Right-of-Use Asset–Operating Lease | $430,303 |
| Property and Equipment, net | $10,951,136 |
| Total assets | $114,242,926 |
Liabilities and Net Assets | |
|---|---|
| Current Liabilities | |
| Current portion of note payable | $206,426 |
| Accounts payable and accrued expenses | 1,638,831 |
| Total current liabilities | 1,845,257 |
| Note Payable, net of current portion | $1,392,573 |
| Total liabilities | $3,237,830 |
| Net Assets | |
| Without donor restrictions | |
| Operating | $10,260,043 |
| Board designated | $5,615,749 |
| Property and equipment | $9,782,440 |
| Total unrestricted | $25,658,232 |
| With donor restrictions | $85,346,864 |
| Total net assets | $111,005,096 |
| Total liabilities and net assets | $114,242,926 |
AAFCPAs conducted the audit of the Â鶹´«Ã½AV’s statements of financial position for the fiscal year 2024 (July 1, 2023–June 30, 2024). 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, 2024
Revenues | |
|---|---|
| Gifts and grants | $4,128,706 |
| Investment return designated for operations | $2,997,166 |
| Annual appeal | $2,268,316 |
| University affiliates | $1,639,275 |
| Membership dues | $1,432,676 |
| Income distribution from Permanent Science Fund | $120,000 |
| Other revenue | $89,666 |
| Subtotal | $12,675,805 |
| Norton’s Woods events revenue | $1,085,935 |
| Less: Norton’s Woods events expenses | ($734,853) |
| Norton’s Woods events, net | $351,082 |
| Total revenues | $13,026,887 |
Expenses | |
|---|---|
| Program services | $11,711,975 |
| Support services | $6,902,080 |
| Forum for the Future of Higher Education | $440,900 |
| Total expenses | $19,054,955 |
| Changes in net assets from operations | ($6,028,068) |
Other Revenues | |
|---|---|
| Investment returns | $8,841,873 |
| Less–spending policy | ($2,997,166) |
| Contributions to endowment | $1,770,635 |
| Increase in beneficial interest in Perpetual Trust for Science | $172,450 |
| Total other revenues | $7,787,792 |
| Changes in net assets | $1,759,724 |
Net Assets | |
|---|---|
| Beginning of year | $109,245,372 |
| End of year | $111,005,096 |