Dear Board and Fellow ACA Members,
Here are the February 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.
This report and the Financial Statements linked below 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 and open the linked statements.
In reviewing the Balance Sheet, we can see ACA WSO ended the month with $751,810 in Total Assets. The previous month was $752,299, resulting in a decrease of $489.
Our Total Cash and Cash Equivalents (Account 1000) increased by $15,680, Inventory Assets (Account 1400) decreased by $19,125, while Customer Receivables increased by $3,950.
WSO’s Total Liabilities & Equity was $751.810 at the end of the period. This is a decrease of $489 from the previous month. Accounts Payable decreased $13,108 due to outstanding invoices being paid. Year-To-Date net income is $33.127.
Profit & Loss Statement – Current and Previous Month
Looking at the P&L we can see Total Income for the month was $117,414. This includes Shopify sales of $35.3k, Amazon sales of $55.7k, and 7th Tradition of $21.4k. Book sales decreased $14.5k, and 7th Tradition contributions decreased $7.2k from the prior month. The prior month total income was $136.4k. Therefore, Total Income decreased by $18,967, or 13.9% from the prior month.
The combined Cost of Goods Sold (COGS) was $67,934 which was less than the prior month’s $74,331 COGS due to the decrease in sales. This left WSO a Gross Profit of $49,480 before expenses.
WSO Expenses on the P&L include payroll, overhead and operating expenses. Overall WSO Total Expenses were $38,305 this month, which were lower than the prior month by $1,792. This resulted from a small decrease as compared with the prior month in Contractor Fees, and IT Support. After deducting the expenses from the Gross Profit WSO was left with a net income of $11,174 for the month.
P&L Actual to Budget
This report shows us how we are performing monthly compared to the approved budget. Our Total Income of $117,414 was $7,886 less than the Budgeted amount of $125,300, or about 6.3% less than we budgeted. Book sales were lower in both Signal Hill and on Amazon against the budget. The 7th Tradition Contributions exceeded the Budget by $2,971. See the section below regarding 7th Tradition Contribution Report.
Our expenses were 14.3% lower than budgeted, by $6,372. Overall, for the month we over performed by $1,395 against a Budgeted Net Income of $9,779.
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 $21,388 in 7th Tradition Contributions for the month from members, groups, intergroups and regions. Our campaign of $7 for the 7th brought in $266. Also notable, there were 6 contributions that were $500 or more, totaling $4,249. However overall, there was a decrease of $7,191 total donations from the 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