Association for Career and Technical Education: Statements of Financial Position June 30, 2011 and 2010

Techniques, January 2012 | Go to article overview

Association for Career and Technical Education: Statements of Financial Position June 30, 2011 and 2010


                                               2011
                  ASSETS
Assets:
Cash and cash equivalents                    $ 304,450
Investments in marketable securities         3,253,408
Accounts receivable                            275,392
Inventory                                       71,339
Due from related party, CTEF, net of                 -
allowance for uncollectible accounts
Prepaid expenses and other assets              160,157
Property and equipment, net of               2,198,826
accumulated depreciation
TOTAL ASSETS                               $ 6,263,572
LIABILITIES AND NET ASSETS
Liabilities:
Accounts payable and other liabilities       $ 434,126
Deferred revenue                             1,069,632
Rental deposits                                  7,483
Notes payable                                1,202,448
Total liabilities                            2,713,689
Net Assets:
Unrestricted net assets                      1,496,804
Unrestricted net assets, Board Designated      278,035
- Regions & Divisions
Unrestricted net assets, Board Designated    1,514,577
- Capital Improvements/Reserves
Temporarily restricted net assets              260,467
Total net assets                             3,549,883
TOTAL LIABILITIES AND NET ASSETS           $ 6,263,572
                                               2010
                  ASSETS
Assets:
Cash and cash equivalents                    $ 406,668
Investments in marketable securities         2,572,268
Accounts receivable                            220,660
Inventory                                       72,470
Due from related party, CTEF, net of               557
allowance for uncollectible accounts
Prepaid expenses and other assets              102,616
Property and equipment, net of               2,134,479
accumulated depreciation
TOTAL ASSETS                               $ 5,509,718
LIABILITIES AND NET ASSETS
Liabilities:
Accounts payable and other liabilities       $ 312,221
Deferred revenue                               999,420
Rental deposits                                  7,483
Notes payable                                1,240,283
Total liabilities                            2,559,407
Net Assets:
Unrestricted net assets                      1,230,153
Unrestricted net assets, Board Designated      247,981
- Regions & Divisions
Unrestricted net assets, Board Designated    1,224,099
- Capital Improvements/Reserves
Temporarily restricted net assets              248,078
Total net assets                             2,950,311
TOTAL LIABILITIES AND NET ASSETS           $ 5,509,718

ASSOCIATION FOR CAREER AND TECHNICAL EDUCATION

Statements of Activities For the Years Ended June 30, 2011 and 2010
                                              2011
                                          Temporarily
                            Unrestricted  Restricted     Total
Membership dues              $ 1,573,659          $ -          $

                                                       1,573,659
Contributions                     66,866        2,362     69,228
Sponsorship                      217,012            -    217,012
Program service revenue:
Convention, conferences        2,139,701            -  2,139,701
and workshops
Publications                     226,184            -    226,184
Education services               639,721            -    639,721
Advertising                      268,985            -    268,985
Rental income                    166,652            -    166,652
Service fees                      22,231            -     22,231
Other revenue                    128,183            -    128,183
Investment income                257,360       20,027    277,387
Net assets released from          10,000     (10,000)          -
restrictions
Total revenue and support      5,716,554       12,389  5,728,943
Program Services:
Convention, conferences        1,243,957            -  1,243,957
and workshops
Publications                   1,103,151            -  1,103,151
Government relations             299,323            -    299,323
Regions & divisions              217,009            -    217,009
Education services                36,566            -     36,566
Total program service          2,900,006            -  2,900,006
Supporting Services:
Finance & operations           1,321,785            -  1,321,785
Membership                       485,482            -    485,482
Governance                       422,098            -    422,098
Total supporting services      2,229,365            -  2,229,365
Total expenses and losses      5,129,371            -  5,129,371
Change in net assets             587,183       12,389    599,572
Net assets at beginning of     2,702,233      248,078  2,950,311
year
Net assets at end of year    $ 3,289,416    $ 260. 

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Association for Career and Technical Education: Statements of Financial Position June 30, 2011 and 2010
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