(from the Statement of Financial Positions sent to the AMC each month)
December 31, 2009:
Assets: $3,164,290.84
Liabilities: $4,755,266.57
Net Assets: ($1,590,975.73)
January 31, 2010:
Assets: $3,815,135.89
Liabilities: $5,400,791.25
Net Assets: ($1,585,655.36)
Interesting.
Our assets went up significantly, but so did our liabilities. Of course, this is renewal season, so we will be seeing a huge inflow of income over the next couple of months, and with that a rise in liabilities, as those are primarily long term liabilities—money received but earmarked for future service to multi year and life members. Each month we move, on paper, some of those liabilities to income as we move through the year "serving" those multi-year members.
It is because of our uneven income and expense patterns mostly due to renewals during the last quarter that it's hard to really gauge the financial health of the organization based on looking at just the monthly statements. One really needs to look at the fiscal year as a whole.
That said, we're still creeping in the right direction: Net Assets were up from the previous month.
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