2011 Annual Report - AASLD

Financials
as of December 31, 2010
Actual Revenue 2010
Annual Meeting ................................... $6,308,468
Awards & Grants ................................... $1,121,875
Meetings & Education................................ $554,874
Professional Relations. ............................... $74,828
Publications...................................... $2,305,938
Rental Income ...................................... $258,379
Fundraising Campaign/Liver Research Fund............. $149,897
Membership....................................... $1,091,299
Actual Expenses 2010
Annual Meeting ................................... $2,620,292
Awards & Grants ................................... $1,718,689
Communications.................................... $638,571
Meetings & Education............................... $1,218,631
Professional Relations. .............................. $329,239
Publications....................................... $1,274,534
Leadership, IT & F&A............................... $1,402,299
Fundraising Campaign/Liver Research Fund ............. $214,915
Membership........................................ $716,630
Financials
1%
2%
19%
10%
9%
53%
2%
14%
13%
7%
12%
6%
26%
17%
1%
5%
3%
ASSETS
CURRENT ASSETS 2010 2009
Cash and cash equivalents $ 7,156,282 $ 9,656,228
Investments – Reserve and Endowments 18,800,596 15,570,724
Investments – Liver Research Fund 4,431,288 —
Contributions receivable, current portion 1,112,075 1,043,950
Accounts receivable 750,610 281,201
Prepaid expenses 67,769 93,473
Total current assets 32,318,620 26,645,576
FIXED ASSETS
Office condominium 8,076,573 8,076,573
Furniture and equipment 380,042 469,332
8,456,615 8,545,905
Less: Accumulated depreciation
and amortization (1,107,816) (931,466)
Net fixed assets 7,348,799 7,614,439
OTHER ASSETS
Contributions receivable,
net of current portion 1,197,015 2,221,130
Deferred financing cost, net of
accumulated amortization of $(20,897) 121,037 125,769
Deferred compensation 212,509 147,202
Deposits 104,580 58,585
Total other assets 1,635,141 2,552,686
TOTAL ASSETS $41,302,560 $36,812,701
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES 2010 2009
Current portion of notes payable $ 215,575 $212,975
Current portion of bonds payable 100,000 100,000
Accounts payable and accrued expenses 591,916 1,047,417
Deferred revenue:
Membership 751,805 241,371
Meeting registrations and exhibits 1,470 145,658
Grants and awards payable 991,907 595,660
Total current liabilities 2,652,673 2,343,081
LONG-TERM LIABILITIES
Notes payable, net of current portion 3,750,552 3,966,127
Bonds payable, net of current portion 3,500,000 3,600,000
Interest rate swap obligation 1,441,641 1,269,871
Deferred compensation liability 212,509 147,202
Total long-term liabilities 8,904,702 8,983,200
Total liabilities 11,557,375 11,326,281
NET ASSETS
Unrestricted
Undesignated 18,492,510 14,514,801
Board-designated 2,554,150 2,479,150
Total unrestricted 21,046,660 16,993,951
Temporarily restricted 4,636,675 4,430,619
Permanently restricted 4,061,850 4,061,850
Total net assets 29,745,185 25,486,420
TOTAL LIABILITIES AND NET ASSETS $41,302,560 $ 36,812,701
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american association for the study of liver diseases