Dear Board and Fellow ACA Members,
Here are the January 2021 Financial Statements for your review. Please bear in mind these are not audited statements and may be subject to revision later. This is the most accurate information our accountants have made available at this time.
These Financial Statements are posted on the blue ACA service website at acawso.org. Click on Board Treasurer’s Report on the side menu to view this report.
In reviewing the Balance Sheet, we can see ACA WSO ended the month with $751,454 in Total Assets. The previous month was $755,151, resulting in a decrease of $3,697.
Our Total Cash and Cash Equivalents (Account 1000) increased by $13,056, Inventory Assets (Account 1400) decreased by $20,627, while Prepaid Expenses increased by $5,444.
WSO’s Total Liabilities & Equity was $751.454 at the end of the period. This is a decrease of $3,697 from the previous month. Accounts Payable decreased $25,919. This is because the prior month contained an unpaid invoice of $36,000 for Books. Year-To-Date net income is $21,607.
Profit & Loss Statement – Current and Previous Month
Looking at the P&L we can see Total Income for the month was $136,356. This includes Shopify sales of $37.5k, Amazon sales of $68k, and 7th Tradition of $28.6k. Book sales increased $20.5k, while 7th Tradition contributions decreased $1.5k from the prior month. The prior month total income was $120k. Therefore, Total Income increased by $16,130, or 13.4% from the prior month.
The combined Cost of Goods Sold (COGS) was $74,329 which was more than the prior month’s $62,897 COGS due to the increase in sales. This left WSO a Gross Profit of $62,028 before expenses.
WSO Expenses on the P&L include payroll, overhead and operating expenses. Overall WSO Total Expenses were $40,420 this month, which were lower than the prior month by $4,248. This resulted from a small decrease as compared with the prior month in Professional Fees, Inventory Adjustments, and Travel Expenses. After deducting the expenses from the Gross Profit WSO was left with a net income of $21,607 for the month.
P&L Actual to Budget
This report that shows us how we are performing monthly compared to the approved budget. Our Total Income of $136,356 was $11,056 more than the Budgeted amount of $125,300, or about 8.8% more than what we budgeted. Book sales were lower in Signal Hill and higher on Amazon against the budget. The 7th Tradition Contributions exceeding Budget by $10,138. See section below regarding 7th Tradition Contribution Report.
Our expenses were 18.9% lower than budgeted, by $9,390. Overall, for the month we over performed by $16,961 against a Budgeted Net Income of $4,646.
If after reviewing these financial statements you have any questions, please feel free to contact me at firstname.lastname@example.org or on Slack at Bill_D_Treasurer.
7th Tradition Contribution Report:
WSO received $28,555 in 7th Tradition Contributions for the month from members, groups, intergroups and regions. Our campaign of $7 for the 7th brought in $1,416. Also notable, there were 10 contributions that were $500 or more. However overall, there was a decrease of $1,537 total donations from prior month. A huge thank you to those who contributed to help ACA continue to meet the growing need of the program throughout the world.
WSO has created an electronic 7th Tradition basket using Venmo@acawso for contributions from inside the US and can still also easily accept contributions worldwide in our online shopping cart at shop.adultchildren.org. We can also accept Zelle transfers by contacting either email@example.com or firstname.lastname@example.org for the details. Please let your fellow travelers know ACA depends on contributions to fund the rapidly expanding fellowship services’ needs.
To see the 7th Tradition Contributions for the month, click the link below or go to the 7th Traditions tab in the right-side menu of the acawso.org website.
In closing if you are interested in service at the world level, we would welcome you to join our committee and learn more about the finances of WSO while helping us build solid bonds with our members, groups, intergroups, and regions.
Bill D., Treasurer