AMAA Annual Report Layout.pmd - Armenian Missionary ...

Financial ReviewASSETS OF THEASSOCIATION$78MM$90MM$97MM $101MM $98MM$89MM$84MM$97MM1997 1998 1999 2000 2001 2002 2003 2004(Investments beginning in 1997 reflect fairmarket value versus cost in prior years.)Armenian Missionary Association of America, Inc.Consolidated Statement of Financial PositionAs of July 31, 2004AssetsCash $ 229,494Accounts Receivable, less allowance fordoubtful accounts of $ 0 67,509Investments:Cash Equivalents 7,452,809Corporate Stocks 67,655,158Bonds and Notes 10,366,043Real Estate 9,180,857Total Investments $ 94,654,867Loans Receivable, less allowance for doubtfulaccounts of $10,000 453,300Land, buildings, and equipmentat cost, less accumulateddepreciation of $ 1,619,896 $ 2,918,828Total Assets $ 98,323,998Liabilities and Net AssetsAccounts Payable and Accrued Expenses $ 12,220Custodial Accounts 1,277,715The Armenian MissionaryAssociation of America(AMAA) emphasizes fullfinancial disclosure, accountabilityand careful stewardshipof funds. The financialstatements of the AMAA areaudited by independentauditors in accordance withguidelines established by theAmerican Institute of CertifiedPublic Accountants. TheAuditor's report is availablefrom the AMAA upon request.Total Liabilities $ 1,289,935Net AssetsUnrestricted 2,034,054Temporarily restricted 5,589,627Permanently restricted 89,410,382Total Net Assets $ 97,034,063Total Liabilities and Net Assets $ 98,323,998Page 10 - AMAA Annual Report 2003-04