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AFBAmerican Foundation®
for the Blind

Expanding possibilities for people with vision loss

2014 Financials

These Financial Statements are only a part of AFB's Financials for FY 2014. If you would like to see the full set of AFB’s Financial Statements, please contact Rick Bozeman at rbozeman@afb.net or call 304-710-3021.

Consolidated Statements of Financial Position

as of JUNE 30, 2014 and 2013 (amounts expressed in thousands)

2014

2013


Assets

   

Cash and cash equivalents

$1,386

$653

Investments, at fair value

34,921

35,293

Accounts receivable, net

234

210

Pledges and grants receivable, net

936

867

Other receivables

14

78

Inventories, net

0

276

Prepaid expenses and other assets

345

322

Property and equipment, net

1,548

1,746

 

Total Assets

$39,284

$39,445


Liabilities

   

Accounts payable and accrued expenses

$1,160

$853

Accrued postretirement benefit liability

232

235

Deferred revenue

101

181

Deferred rent obligation

442

462

 

Total Liabilities

$1,935

$1,731



Net Assets

   

Unrestricted

20,993

20,989

Temporarily restricted

12,306

12,703

Permanently restricted

4,050

4,022

 

Total Net Assets

37,349

37,714


TOTAL LIABILITIES AND NET ASSETS

$39,284

$39,445


Consolidated Statement of Activities and Changes in Net Assets

as of June 30, 2014 and 2013 (amounts expressed in thousands)

Unrestricted

Temporarily
Restricted

Permanently
Restricted

2014

2013


Revenues, Gains, and Other Support


Public support

1,876 1,292 10 3,178 3,100

Legacies and bequests

1,469

1

23

1,493

1,353

Grants from government agencies

95

95

429


Total public support

3,345

1,388

33

4,766

4,882

Other Revenue

 

Sales, primarily textbooks and other publications

609

5

614

678

Investment activity

3,651

1,418

5,069

4,493

Miscellaneous revenue

443

199

642

534

Total other revenue from continuing operations

4,703

1,622

0

6,325

5,705

Net assets released from restrictions

3,412

(3,407)

(5)


TOTAL REVENUES, GAINS, AND OTHER SUPPORT

$11,460

$(397)

$28

$11,091

$10,587


Expenses

         

Program Services

         

Knowledge building and information dissemination

$4,490

$4,490

$5,043

Technology solutions

2,566

2,566

3,311

Advocacy and public policy

1,099

1,099

1,174

Total program services

8,155

8,155

9,528

Supporting Services

         

Management and general

1,403

1,403

967

Fundraising

1,869

1,869

1,939

Total supporting services

3,272

3,272

2,906


TOTAL EXPENSES FROM CONTINUING OPERATIONS

$11,427

$11,427

$12,434


Change in Net Assets Before Loss on Discontinued Operations and Postretirement Related Changes

$33

$(397)

$28

$(336)

$(1,847)

Postretirement-related changes other than net periodic costs

(29)

(29)

(35)

Change in Net Assets

4

(397)

28

(365)

(1,882)

Net assets, beginning of year

20,989

12,703

4,022

37,714

39,596


NET ASSETS, END OF YEAR

$20,993

$12,306

$4,050

$37,349

$37,714


These Financial Statements are only a part of AFB’s Financials for FY 2014. If you would like to see the full set of AFB’s Financial Statements, please contact Rick Bozeman at rbozeman@afb.net or call 304-710-3021.

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