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Society for American Archeaolgy

Balance Sheet -- December 31,1998

 

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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