American Çï¿ûÊÓƵ of Arts and Sciences and Affiliates Consolidated Statement of Financial Position as of June 30, 2023
| ASSETS | |
|---|---|
| Current Assets | |
| Cash | $4,307,093 |
| Accounts receivable | $109,773 |
| Current portion of grants and pledges receivable | $5,411,144 |
| Other current assets | $305,386 |
| Total current assets |
$10,133,396 |
| Grants and Pledges Receivable, net | $7,761,545 |
| Investments | $79,980,946 |
| Beneficial Interest in Perpetual Trust for Science | $2,692,655 |
| Right-of-Use Asset–Operating Lease | $438,383 |
| Property and Equipment, net | $11,701,796 |
| Total assets | $112,708,721 |
| LIABILITIES AND NET ASSETS | |
|---|---|
| Current Liabilities | |
| Current portion of note payable | $200,424 |
| Accounts payable and accrued expenses | $1,663,926 |
| Total current liabilities |
$1,864,350 |
| Note Payable, net of current portion | $1,598,999 |
| Total liabilities |
$3,463,349 |
| Net Assets | |
| Without donor restrictions | |
| Operating | $2,601,964 |
| Board designated | $13,921,137 |
| Property and equipment | $10,340,756 |
| Total unrestricted |
$26,863,857 |
| With donor restrictions | $82,381,515 |
| Total net assets | $109,245,372 |
| Total liabilities and net assets | $112,708,721 |
AAFCPAs conducted the audit of the Çï¿ûÊÓƵ’s statements of financial position for the fiscal year 2023 (July 1, 2022–June 30, 2023). A copy of the audited financial statements is available on the Çï¿ûÊÓƵ’s website and upon request.
American Çï¿ûÊÓƵ of Arts and Sciences and Affiliates Consolidated Statement of Activities and Changes in Net Assets For the Year Ended June 30, 2023
| REVENUES | |
|---|---|
| Gifts and grants | $4,641,547 |
| Investment return designated for operations | $3,302,801 |
| Annual appeal | $2,527,151 |
| University affiliates | $1,660,000 |
| Membership dues | $1,221,291 |
| Other revenue | $150,797 |
| Income distribution from Permanent Science Fund | $120,000 |
| Subtotal |
$13,623,587 |
| Norton’s Woods events revenue | $195,893 |
| Less: Norton’s Woods events expenses | ($382,084) |
| Norton’s Woods events, net | ($186,191) |
| Total revenues | $13,437,396 |
| EXPENSES | |
|---|---|
| Program services | $9,745,224 |
| Support services | $6,230,415 |
| Forum for the Future of Higher Education | $1,004,342 |
| Total expenses | $16,979,981 |
| Changes in net assets from operations | ($3,542,585) |
| OTHER REVENUES (EXPENSES) | |
|---|---|
| Investment returns | $3,817,957 |
| Less–spending policy | ($3,302,801) |
| Contributions to endowment | $2,605,265 |
| Increase (Decrease) in beneficial interest in perpetual trust | $8,244 |
| Total other revenues (expenses) | $3,128,665 |
| Changes in net assets | ($413,920) |
| NET ASSETS | |
|---|---|
| Beginning of year | $109,659,292 |
| End of year | $109,245,372 |