Consolidated Statements of Financial Position
as of JUNE 30, 2019 and 2018 (amounts expressed in thousands)
Assets |
2019 |
2018 |
|---|---|---|
|
Current Assets |
||
Cash and cash equivalents |
$1,502 |
$1,273 |
Accounts receivable, net |
217 |
477 |
|
Pledges and grants receivable, net |
120 |
100 |
Other receivables |
60 |
24 |
Prepaid expenses and other assets |
214 |
189 |
Total Current Assets |
2,113 |
2,063 |
|
Noncurrent Assets |
||
Long term pledge receivables |
886 |
962 |
Investments, at fair value |
20,703 |
23,154 |
Property and equipment, net |
62 |
818 |
Total Noncurrent Assets |
21,651 |
24,934 |
Total Assets |
$23,764 |
$26,997 |
|
Liabilities and Net Assets |
2019 |
2018 |
|---|---|---|
|
Current Liabilities |
||
Accounts payable and accrued expenses |
$832 |
$840 |
Deferred revenue |
74 |
120 |
Total Current Liabilities |
906 |
960 |
|
Noncurrent Liabilities |
||
Deferred rent obligation |
115 |
202 |
Accrued postretirement benefit liability |
139 |
138 |
Total Noncurrent Liabilities |
254 |
340 |
Net Assets |
||
Without donor restrictions |
12,748 |
14,379 |
With donor restrictions |
9,856 |
11,318 |
Total Net Assets |
22,604 |
25,697 |
Total Liabilities and Net Assets |
$23,764 |
$26,997 |
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, 2019 and 2018 (amounts expressed in thousands)
| Revenues, Gains, and Other Support | Without Donor Restrictions | With Donor Restrictions | Totals | |||
|---|---|---|---|---|---|---|
| AFB | AFBSF | AFB | AFBSF | 2019 | 2018 | |
| Public Support | ||||||
|
$3,418 | $ — | $510 | $ — | $3,928 | $2,007 |
Legacies and bequests |
1,930 |
— |
1 |
— |
1,931 |
1,661 |
Grants from government agencies |
— |
— |
163 |
— |
163 |
224 |
|
Total public support |
5,348 |
— |
674 |
— |
6,022 |
3,892 |
|
Other Revenue |
||||||
Sales |
844 |
— |
5 |
— |
860 |
1,306 |
Investment activity |
563 |
263 |
156 |
— |
982 |
1,906 |
Royalty and other income |
7 |
— |
— |
— |
7 |
— |
Miscellaneous revenue |
1,139 |
— |
(543) |
— |
596 |
108 |
|
Total other revenue |
2,564 |
263 |
(382) |
— |
2,445 |
3,320 |
Net assets released from restrictions |
1,756 |
— |
(1,756) |
— |
— |
— |
TOTAL REVENUES, GAINS, AND OTHER SUPPORT |
$9,668 |
$263 |
— |
$8,467 |
$7,212 |
|
|
Expenses |
||||||
Program Services |
||||||
Knowledge building and information dissemination |
$4,076 |
— |
— |
— |
$4,076 |
$3,562 |
|
Technology solutions |
2,113 |
— |
— |
— |
2,113 |
1,708 |
Advocacy and public policy |
1,547 |
— |
— |
— |
1,547 |
1,192 |
Total program services |
7,736 |
— |
— |
— |
7,736 |
6,462 |
|
Supporting Services |
||||||
|
Management and general |
1,699 |
88 |
— |
— |
1,787 |
2,569 |
Fundraising |
1,961 |
— |
— |
— |
1,961 |
1,439 |
Cost of direct benefits to donors |
49 |
— |
— |
— |
49 |
24 |
|
Total supporting services |
3,709 |
88 |
— |
— |
3,797 |
4,032 |
TOTAL EXPENSES |
$11,445 |
$88 |
— |
— |
$11,533 |
$10,494 |
| Net Assets | ||||||
Change in net assets before postretirement-related changes |
$(1,777) |
$175 |
$(1,464) |
— |
$(3,066) |
$(3,282) |
Postretirement-related changes other than net periodic costs |
(27) |
— |
— |
— |
(27) |
— |
|
Change in Net Assets |
(1,804) |
$175 |
$(1,464) |
— |
$(3,093) |
$(3,282) |
|
Net assets, beginning of year |
$13,322 |
$1,055 |
$11,293 |
$27 |
$25,697 |
$28,979 |
|
NET ASSETS, END OF YEAR |
$11,518 |
$1,230 |
$9,829 |
$27 |
$22,604 |
$25,697 |
