American Foundation for the Blind, Inc. and AFB Special Fund, Inc. Consolidated Statements of Financial Position

For the years ended JUNE 30, 2021 and 2020 (amounts expressed in thousands)

2021

2020

Assets

Current Assets

Cash and cash equivalents

$1,848

$946

Accounts receivable, net

186

221

Pledges and grants receivable, net

684

251

Other receivables

19

93

Prepaid expenses and other assets

181

118

Total Current Assets

2,918

1,629

Noncurrent Assets

Long term pledge receivables

-

843

Investments, at fair value

19,996

18,269

Property and equipment, net

32

42

Total Noncurrent Assets

20,028

19,154

Total Assets

$22,946

$20,783

Liabilities and Net Assets

2021

2020

Current Liabilities

Accounts payable and accrued expenses

$462

$667

Deferred revenue

112

192

Total Current Liabilities

574

859

Noncurrent Liabilities

Deferred rent obligation

25

38

Accrued postretirement benefit liability

119

131

Total Noncurrent Liabilities

144

169

Net Assets

Without donor restrictions

12,989

10,833

With donor restrictions

9,239

8,922

Total Net Assets

22,228

19,755

Total Liabilities and Net Assets

$22,946

$20,783

American Foundation for the Blind, Inc. and AFB Special Fund, Inc. (AFBSF) Consolidated Statements of Activities and Changes in Net Assets

For the years ended June 30, 2021 and 2020 (amounts expressed in thousands)

Revenues, Gains, and Other Support Without Donor Restrictions With Donor Restrictions Eliminating Entries 2021 2020
AFB AFBSF AFB AFBSF
Public Support


Direct public support

 $2,646 — $1,176 — — $3,822 $2,666

Legacies and bequests

1,610

—

274

—

—

1,884

1,022

Grants from government agencies

640

—

105

—

—

745

945

Contributed services, media time

800

—

—

—

—

800

3,220

Total Public Support

5,696

—

1,555

—

 —

7,251

7,853

Other Revenue

Sales

669

—

131

—

—

800

770

Investment activity

2,149

249

703

—

—

3,101

1,062

Royalty and other income

224

—

1

—

(200)

24

22

Miscellaneous revenue

14

—

—

—

—

14

38

Total Other Revenue

3,056

249

834

—

(200)

3,939

1,892

Net assets released from restrictions

2,072

—

(2,072)

—

—

—

—

TOTAL REVENUES, GAINS, AND OTHER SUPPORT

$10,824

$249

$317

—

$(200)

$11,190

$9,745

Expenses

Program Services

Knowledge building and information dissemination

$2,528

$200

—

—

$(200)

$2,528

$4,080

Technology solutions

1,722

—

—

—

—

1,722

2,556

Advocacy and public policy

727

—

—

—

—

727

1,737

Total Program Services

4,977

200

—

—

(200)

4,977

8,373

Supporting Services

Management and general

1,352

15

—

—

—

1,367

2,065

Fundraising

2,368

—

—

—

—

2,368

2,138

Cost of direct benefits to donors

—

—

—

—

—

—

3

Total Supporting Services

3,720

15

—

—

—

3,735

4,206

TOTAL EXPENSES

$8,697

$215

—

—

$(200)

$8,712

$12,579

Net Assets

Change in net assets before postretirement-related changes

$2,127

$34

$317

—

—

$2,478

$(2,834)

Postretirement-related changes other than net periodic costs

(5)

—

—

—

—

(5)

(15)

Change in Net Assets

$2,122

$34

$317

—

—

$2,473

$(2,849)

Net assets, Beginning of Year

10,037

796

8,895

27

—

19,755

22,604

Net Assets, End of Year

12,159

830

9,212

27

—

$22,228

$19,755