Society for American Archeaolgy

 

SAA changed its fiscal year to coincide with the calendar year as of January 1, 1998. As a result, SAA had a short fiscal year from July 1, 1997, to December 31, 1997. The audit as of December 31, 1998 covers the 18-month period from July 1, 1997, through December 31, 1998. The audited balance sheet and statement of activities appear below.

Assets

Current assets:
Cash and cash equivalents	$ 1,296,323
Accounts receivable	4,039
Accrued interest receivable	2,156
Prepaid expenses and deposits	35, 190
Total current assets	1,337,708
Investments, at market	240,518
Property and equipment:
Equipment	113,146
Furniture and fixtures	54,084
Computer software	49,406
216,636
Less accumulated depreciation	157,528
	59,108
Total assets	$ 1,637,334

Liabilities and Net Assets

Current liabilities:
Accounts payable and accrued expense	$ 22,648
Deferred revenue:
Membership dues, current portion	343,763
Subscriptions	165,095
Grants/cooperative agreements	327,828
Other	196,828
	1,033,514
Total current liabilities	1,056,162
Deferred life membership dues, less current portion	28,738
Total liabilities	1,084,900
Commitments
Net assets:
Unrestricted:
Undesignated	397,902
Board-designated	83,761
	481,663
Temporarily restricted	52,278
Permanently restricted	18,493
Total net assets	552,434
Total liabilities and net assets	$ 1,637,334

For the Period of Eighteen Months Ended December 31, 1998

 

	Unrestricted	Temporarily Restricted	Permanently Restricted	Total
Revenue:
Membership dues	$ 749,525			$ 749,525
Annual meeting	400,948			400,948
Publications	367,087			367,087
Public programs and services	196,050	$ 13,049		209,099
Organization and administration	100,312		$ 930	101,242
Member programs and services	8,428			8,428
Net assets released from restrictions and reclassified:
Public programs and services	4,393	(4,393)	...............	...............
Total revenue	1,826,743	8,656	930	1,836,329
Expenses:
Program services:
Public programs and services	386,283			386,283
Publications	373,481			373,481
Annual meeting	334,482			334,482
Membership	133,393			133,393
Member programs and services	39,228			39,228
Awards	3,128			3,128
	1,269,995	...............	...............	1,269,995
Supporting services:
Management and general	313,638			313,638
Membership development	25,133			25,133
	338,771			338,771
Total expense	1,608,766	...............	...............	1,608,766
Change in net assets	217,977	8,656	930	227,563
Net assets, beginning of year, as previously reported	263,686	164,181	17,563	445,430
Prior period adjustment	...............	(120,559)	...............	(120,559)
Net assets, beginning of year, as restated	263,686	43,622	17,563	324,871
Net assets, end of year	$ 481,663	$ 52,278	$ 18,493	$ 552,434

The accompanying notes are an integral part of these financial statements.

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