Sierra Club Financial Report
Pursuant to provisions of sections 6321 and 6322 of the California Corporations Code, the following information is furnished as an annual report:
The Club's financial statements for the fiscal years ended December 31,2001, and December 31,2000, together with the report of KPMG LLP, independent auditors, are available on request from Sierra Club headquarters at 85 Second Street, San Francisco, California 94105-3441.
The membership list of the Sierra Club is on file at the Club's headquarters at 85 Second Street, San Francisco, California 94105-3441.
There are no transactions to disclose that constitute a conflict of interest involving directors or officers; no member bas voting power of 10% or more.
The books of account and minutes of meetings of the Board of Directors are available for inspection by members on written request at the Club's headquarters at 85 Second Street, San Francisco, California 94105-3441.
INDEPENDENT AUDITORS' REPORT
The Board of Directors Sieria Club:
We have audited the accompanying balance sheets of Sierra Club National Entity (the Club) as of December 31,2001 and 2000, and the related statements of activities and cash flows for the years then ended. These financial statements are the responsibility of the Club's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Sierra Club National Entity as of December 31,2001 and 2000,and the changes in its net assets and its cash flows for the years thon ended in conformity with accounting principles generally accepted in the United States of America.
KPMG LLP San Francisco, April 19,2002
I am pleased to report that the Sierra Club was successful in delivering our program goals and meeting our financial objectives during fiscal year 2001. Total national Club revenues for the year were $75,266,700 and total expenses were $72,935,100, both figures surpassing record highs set one year prior. The Sierra Club again experienced a positive contribution to net worth, helping to ensure its long-term viability.
In 2001,the Sierra Club continued its community outreach through the Environmental Public Education Campaign (EPEC) with an expenditure of $8,247,000, The Club targeted approximately 40 major media markets, building community awareness and engaging the public on environmental issues and solutions. Local issues were integrated with national priority conservation campaigns to protect wild-lands, end commercial logging on public lands, curtail sprawl by promoting smart growth, and safeguard the nation's water supply.
Sierra Club grassroots activists were out in full force during the year, and we enjoyed some hard-fought victories. Among our accomplishments was the successful challenge to the construction of the Legacy Highway in Utah, a project that would have contributed to additional sprawl at the expense of sensitive wetlands habitat. In New York, many years of hard work by local organizers paid off when the Environmental Protection Agency ruled that General Electric was responsible for the contamination of the Hudson River and ordered it to pay for the river's cleanup. …