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AMERICAN WINE SOCIETY STATEMENT OF INCOME AND FUND BALANCE FOR THE FISCAL YEARS ENDING AUGUST 31, 2011, 2010, 2009 2011 % Total Rev 2010 % Total Rev 2009 % Total Rev Revenue Membership Dues $127,494 36.4% $132,602 43.0% $160,833 37.6% Conference Fees and Income 191,265 54.7% 138,439 44.9% 198,934 46.5% Book & Resale Items 665 0.2% 745 0.2% 1,369 0.3% Journal Advertising 3,307 0.9% 1,852 0.6% 2,803 0.7% Interest Income 157 0.0% -205 -0.1% 627 0.1% Wine & Label Competitions 24,770 7.1% 33,695 10.9% 53,688 12.6% Other Income 2,167 0.6% 1,528 0.5% 9,195 2.2% Total Revenue $349,825 100.0% $308,656 100.0% $427,449 100.0% Expenses Conference $132,023 37.7% $119,486 38.7% $237,285 55.5% Wine Competitions 22,410 6.4% 28,624 9.3% 41,999 9.8% Journal: Printing Graphics and Art/Photo 14,545 4.2% 19,325 6.3% 25,335 5.9% Mailing/ Delivery 3,688 1.1% 1,870 0.6% 2,287 0.5% Editor and Asst. Editor Compensation 2,500 0.7% 2,500 0.8% 2,500 0.6% Total Journal Expenses $20,733 5.9% $23,695 7.7% $30,122 7.0% Administrative Expenses: Director/ Officer Travel $9,278 2.7% $22,113 7.2% $12,479 2.9% Telephone & Internet 3,285 0.9% 5,327 1.7% 5,010 1.2% Printing/ Copying 2,233 0.6% 12,425 4.0% 7,693 1.8% Mailing/ Delivery 1,700 0.5% 6,120 2.0% 9,359 2.2% Membership Certifications (See Note 4) 7,562 2.2% 0 0.0% 0 0.0% Office Supplies 1,068 0.3% 1,920 0.6% 4,439 1.0% Books for Resale 0 0.0% 0 0.0% 3,181 0.7% Executive Assistant 13,605 3.9% 6,606 2.1% 17,027 4.0% Executive Director Salary (See Note 5) 40,500 11.6% 46,307 15.0% 44,100 10.3% Payroll Taxes 5,011 1.4% 5,801 1.9% 4,693 1.1% Executive Director Expenses 0 0.0% 2,165 0.7% 5,877 1.4% Newsletter & Special Publications 4,435 1.3% 2,240 0.7% 8,391 2.0% Insurance 7,236 2.1% 9,328 3.0% 9,462 2.2% Depreciation 564 0.2% 2,096 0.7% 1,470 0.3% Website & Database Development 9,464 2.7% 10,889 3.5% 10,182 2.4% Bank and Credit Card Fees 7,763 2.2% 5,439 1.8% 8,185 1.9% Office Rent & Utilities 0 0.0% 12,661 4.1% 24,674 5.8% Miscellaneous (See Note 6) 6,412 1.8% 13,986 4.5% 10,130 2.4% Total Administrative Expenses $120,116 34.3% $165,423 53.6% $186,352 43.6% Total Expenses $295,282 84.4% $337,228 109.3% $495,758 116.0% Surplus (Deficit) $54,543 15.6% ($28,572) -9.3% ($68,309) -16.0% Fund Balance Beginning of Year $27,305 $55,877 $122,646 Restricted Donations 0 0 1,540 Fund Balance End of Year $81,848 $27,305 $55,877 Financial Statement Notes 1. The Society operates on a fiscal year ending August 31st, and the Financial Statements are prepared on the accrual basis. 2. Membership dues are collected on a calendar year basis and recognized as income on a prorata basis during the fiscal year. Lifetime dues are amortized yearly based on annual dues amounts until exhausted. 3. Depreciation is on a straight line basis over 3 and 5 years. 4. The Membership Certifications account was started in 2011 to show the cost of items denoting membership sent to members. 5. During the 2010 transition of Executive Directors, 1 month termination was paid to the previous Executive Director. 6. The 2010 Miscellaneous category includes $ 4,202 of extraordinary expenses related to the transition of Executive Directors. 7. In 2010 old fully depreciated assets in the amount of $33,723 were written off as they had been disposed of and had no economic value. AWS News—December 2011 Page 10
AMERICAN WINE SOCIETY BALANCE SHEET AS OF AUGUST 31, 2011, 2010, 2009 2011 2010 2009 Assets CURRENT ASSETS Cash - Checking $176 $4,334 $91,649 Cash - Savings 311,096 217,513 87,550 Total Cash 311,272 221,847 179,199 Accounts Receivable 20 5,100 3,497 Conference and Committee Advances 12,731 12,742 25,416 Prepaid Expenses 16,415 13,864 17,424 Total Current Assets 340,438 253,553 225,536 FIXED ASSETS Equipment (at cost) 14,032 9,909 43,632 Accumulated Depreciation (8,447) (5,520) (34,783) Total Fixed Assets 5,585 4,389 8,849 Total Assets $346,023 $257,942 $234,385 Liabilities and Fund Balance CURRENT LIABILITIES Accounts Payable & Wages Payable $876 $4,589 $213 Accrued Payroll Taxes 2,307 2,247 1,313 Deferred Revenue - Membership Dues 68,220 62,269 66,504 Deferred Revenue - Annual Conference 192,614 161,374 110,478 Total Current Liabilities 264,017 230,479 178,508 FUND BALANC E Unrestricted 27,463 15,923 44,337 Restricted 54,543 11,540 11,540 Total Fund Balance 82,006 27,463 55,877 Total Liabilities and Fund Balance $346,023 $257,942 $234,385 STATEMENT OF CHANGES IN FINANCIAL POSITION FOR THE FISCAL YEARS ENDING AUGUST 31, 2010, 2009, 2008 2011 2010 2009 SOURCES OF WORKING CAPITAL Current Surplus (Deficit) $54,543 ($28,572) ($68,309) Items Not Affecting Working Capital: Fund-Raising Donations 0 0 1,540 Depreciation 2,927 4,618 2,652 $57,470 ($23,954) ($64,117) USES OF WORKING CAPITAL Purchase of Equipment (4,123) 0 (4,090) NET CHANGES IN WORKING CAPITAL $53,347 ($23,954) ($68,207) CHANGES IN ELEMENTS OF WORKING CAPITAL Cash $89,425 $42,648 $1,526 Conference and Committee Advances (11) (12,674) (5,625) Accounts Receivable (5,080) 1,603 218 Prepaid Expenses 2,551 (3,560) (4,959) Accounts Payable 3,713 (4,376) 40,902 Accrued Payroll Taxes (60) (934) (32) Deferred Revenues (37,191) (46,661) (100,237) NET CHANGES IN WORKING CAPITAL $53,347 ($23,954) ($68,207) AWS News—December 2011 Page 11
Page 1 and 2: AMERICAN WINE SOCIETY NEWS Promotin
Page 3 and 4: Vice President’s Notes Jane Dural
Page 5 and 6: socializing and ge neral merriment
Page 7 and 8: NV Graham Beck Brut 14 (3) 2007 Sou
Page 9: National Tasting Project 2011 Natio
Page 13 and 14: North Alabama Chapter By Karl Stark
Page 15 and 16: Silver (continued) Mikals, Jack OH
Page 17 and 18: 2011 National Tasting Project Merlo
Page 19 and 20: AWS Educational Foundation Dick Mar

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