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For an audio copy of this report on cassette tape, email the APH Advisory Services Department or call 1-502-895-2405.
| Unrestricted | Temporarily Restricted | Permanently Restricted | ||||
| General Fund | Endowment Fund | Total Unrestricted | Endowment Fund | Endowment Fund | Total | |
Revenues |
||||||
| Products distributed and sold | $18,926,081 | $ | $18,926,081 | $ | $ | $18,926,081 |
| Cost of products distributed | 14,674,682 | 14,674,682 | 14,674,682 | |||
| Gross Profit | 4,251,399 | 0 | 4,251,399 | 0 | 0 | 4,251,399 |
| Operating Expenses | 4,282,836 | 413,551 | 4,696,387 | 4,696,387 | ||
| Income (Loss) from Operations Before Other Income and Expense | (31,437) | (413,551) | (444,988) | 0 | 0 | (444,988) |
Other Income (Expense) |
||||||
| Contributions | 874,197 | 284,211 | 1,158,408 | (23,740) | 1,134,668 | |
| Bequests | 144,990 | 568,469 | 713,459 | 713,459 | ||
| Interest and dividends | 188,782 | 1,307,012 | 1,495,794 | 1,495,794 | ||
| Miscellaneous income | 923,342 | 923,342 | 923,342 | |||
| Total Other Income | 2,131,311 | 2,159,692 | 4,291,003 | (23,740) | 0 | 4,267,263 |
| Net gain (loss) on investments | (71,847) | (5,938,278) | (6,010,125) | (323,704) | (6,333,829) | |
| Depreciation | (794,414) | (794,414) | (794,414) | |||
| Program support | (1,487,224) | (1,487,224) | (1,487,224) | |||
| Interest expense | (95,298) | (95,298) | (95,298) | |||
| Miscellaneous expense | (132,768) | (132,768) | (132,768) | |||
| Investment fees | (148,986) | (148,986) | (148,986) | |||
| Total Other Expense | (999,029) | (7,669,786) | (8,668,815) | 0 | (323,704) | (8,992,519) |
| Increase (Decrease) in Net Assets | 1,100,845 | (5,923,645) | (4,822,800) | (23,740) | (323,704) | (5,170,244) |
| Net Assets, Beginning of Year | 20,685,831 | 44,253,713 | 64,939,544 | 231,164 | 2,432,421 | 67,603,129 |
| Transfers and Capital Additions | 422,679 | (422,679) | ||||
| Net Assets, End of Year | $22,209,355 | $37,907,389 | $60,116,744 | $207,424 | $2,108,717 | $62,432,885 |
| Unrestricted | Temporarily Restricted | Permanently Restricted | ||||
| General Fund | Endowment Fund | Total Unrestricted | Endowment Fund | Endowment Fund | Total | |
Revenues |
||||||
| Products distributed and sold | $17,425,584 | $ | $17,425,584 | $ | $ | $17,425,584 |
| Cost of products distributed | 13,023,891 | 13,023,891 | 13,023,891 | |||
| Gross Profit | 4,401,693 | 0 | 4,401,693 | 0 | 0 | 4,401,693 |
| Operating Expenses | 4,250,789 | 290,431 | 4,541,220 | 4,541,220 | ||
| Income (Loss) from Operations Before Other Income and Expense | 150,904 | (290,431) | (139,527) | 0 | 0 | (139,527) |
Other Income (Expense) |
||||||
| Contributions | 1,138,962 | 121,724 | 1,260,686 | 20,310 | 1,280,996 | |
| Bequests | 730,135 | 3,850,285 | 4,580,420 | 4,580,420 | ||
| Interest and dividends | 340,770 | 1,447,575 | 1,788,345 | 1,788,345 | ||
| Miscellaneous income | 1,510,543 | 1,394 | 1,511,937 | 1,511,937 | ||
| Total Other Income | 3,720,410 | 5,420,978 | 9,141,388 | 20,310 | 0 | 9,161,698 |
| Net gain (loss) on investments | (3,667) | (10,509,893) | (10,513,560) | (335,992) | (10,849,552) | |
| Depreciation | (882,261) | (882,261) | (882,261) | |||
| Program support | (1,466,020) | (1,466,020) | (1,466,020) | |||
| Interest expense | (95,575) | (95,575) | (95,575) | |||
| Miscellaneous expense | (86,244) | (86,244) | (86,244) | |||
| Investment fees | (164,103) | (164,103) | (164,103) | |||
| Total Other Expense | (972,172) | (12,235,591) | (13,207,763) | 0 | (335,992) | (13,543,755) |
| Increase (Decrease) in Net Assets | 2,899,142 | (7,105,044) | (4,205,902) | 20,310 | (335,992) | (4,521,584) |
| Net Assets, Beginning of Year | 18,074,374 | 51,071,072 | 69,145,446 | 210,854 | 2,768,413 | 72,124,713 |
| Transfers and Capital Additions | (287,685) | 287,685 | ||||
| Net Assets, End of Year | $20,685,831 | $44,253,713 | $64,939,544 | $231,164 | $2,432,421 | $67,603,129 |
©2003, American Printing House for the Blind, Inc.