Dear Board and Fellow ACA Members,
Here are the July 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 $815,248 in Total Assets. The previous month was $803,991, resulting in an increase of $11,257.
Our Total Cash and Cash Equivalents (Account 1000) decreased by $3,631, Inventory Assets (Account 1400) show a net increase of $11,269. The purchase of soft cover Big Red Books during the month contributed to this increase.
WSO’s Total Liabilities & Equity was $815,248 at the end of the period. This is an increase of $11,257 from the previous month. Year-To-Date net income is $84,458, which is a decrease of $1,850 from the prior month.
Note that starting the month of May, the Equity Section includes Restricted Net Assets. The Restricted Net Assets was created as a result of the International Literature Scholarship Fund. The month of July is showing a balance of $1,432. Unrestricted Net Assets ba
Profit & Loss Statement – Current and Previous Month
Looking at the P&L we can see Total Income for the month was $95.8k. This includes Shopify sales of $42.3k, Amazon sales of $30.4k, and 7th Tradition of $18.8k. Book sales decreased $6.4k, while 7th Tradition contributions increased $6.5k from the prior month. The prior month total income was $95.7k. Therefore, Total Income increased by $106, which is essentially a 0% change from the prior month.
The combined Cost of Goods Sold (COGS) was $51.3k which was less than the prior month’s $52.3k COGS. This left WSO with a Gross Profit of $44.5k before operating expenses.
WSO Expenses on the P&L include payroll, overhead and operating expenses. Overall WSO Total Expenses were $46.4k this month, which were higher than the prior month by $10.4k. This is due to an increase in Payroll expenses, and a modest increase in Professional Fees during the month. After deducting expenses from the Gross Profit WSO was left with net loss of $1,850 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 $95.8k was $28.7k less than the Budgeted amount of $124,5k, or about 23% less than what we budgeted. Book sales for Amazon were lower than budgeted by $28.9k, while Shopify sales were about the same as the budget. The 7th Tradition Contributions came in at about the same amount that was budgeted, as well. See section below regarding 7th Tradition Contribution Report.
Our expenses were $7.1k lower than budgeted, by 13.2%. Overall, for the month. Our actual Net Loss of $1,850 was lower than the Budgeted Net Income of $666.
If after reviewing these financial statements you have any questions, please feel free to contact me at [email protected] or on Slack at Fredrik H Sweden.
7th Tradition Contribution Report
WSO received $18,781 in 7th Tradition Contributions for the month from members, groups, intergroups and regions. Contributions increased $6,470 from the prior month. There were 7 contributions that were $500 or more, totaling $5,826. We received 5 contributions of $199 for the International Literature Scholarship Fund. 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 [email protected] 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 protected] or [email protected] 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.
Fredrik H., Treasurer