Dear Board and Fellow ACA Members,
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Here are the December 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.
Treasurer’s Report
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.
Balance Sheet
CLICK HERE TO VIEW THE DECEMBER 2021 BALANCE SHEET
In reviewing the Balance Sheet, we can see ACA WSO ended the month with $908,177 in Total Assets. The previous month was $862,641, resulting in an increase of $45,536.
Our Total Cash and Cash Equivalents (Account 1000) increased by $44.3k. Prepaid Expenses decreased by $18.8k which includes the write-off of the $10k ABC/AWC 2022 hotel deposit. Inventory Assets (Account 1400) show a net increase of $23.3k, due to a large order of Loving Parent Guidebooks, and Meditation Books, less the normal sell-through of Inventory.
WSO’s Total Liabilities & Equity was $908,177 at the end of the period. This is an increase of $45,536 from the previous month. We end the year with a Net Income of $130,114.
Note that the Equity Section includes Restricted Net Assets, which was created as a result of the International Literature Scholarship Fund. The month of December is showing a balance of $3,011. Unrestricted Net Assets balance is $684,456.
Profit & Loss Statement – Current and Previous Month
CLICK HERE TO VIEW THE DECEMBER 2021 PROFIT & LOSS STATEMENT
Looking at the P&L we can see Total Income for the month was $149.2k, showing an increase of $3.6k from the prior month. Total Income includes Shopify and Amazon Sales, and 7th Tradition Contributions. Shopify sales were $48.k, showing a decrease of $26.2k from the prior month. Amazon sales were $49.3k, showing a decrease of $6.7k from the prior month. Contributions from 7th Tradition will be addressed below.
The combined Cost of Goods Sold (COGS) was $77.7k which was higher than the prior month’s $75.4k COGS. This increase occurred because Amazon Fulfillment costs were higher in the current month. This left WSO with a Gross Profit of $71.4k before operating expenses.
WSO Expenses on the P&L include payroll, overhead and operating expenses. Overall WSO Total Expenses were $68.9k this month, which were higher than the prior month by $4.2k. Included in expenses is the write-off of the $10k hotel deposit for the cancelled 2022 ABC/AWC. After deducting expenses from the Gross Profit, WSO was left with net Income of $2,504 for the month.
Profit & Loss – Actual to Budget – Current Month
CLICK HERE TO VIEW THE DECEMBER 2021 PROFIT & LOSS ACTUAL TO BUDGET
This report that shows us how we are performing monthly compared to the approved budget. Our Total Income of $149.2k was $18.6k more than the Budgeted amount of $130.5k, or about 14.3% higher than what we budgeted. Shopify sales were $48k and 2% lower than the budget. Amazon sales were $49.3k and 17% lower than the budget. The 7th Tradition Contributions came in $26.3k higher than what was budgeted.
Our expenses for the month were $7.3k higher than budgeted. Overall, for the month, our Actual Net Income of $2,503 was higher than the Budgeted Net Loss of $4,983.
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 $44,727 in 7th Tradition Contributions for the month from members, groups, intergroups and regions. Contributions increased $29.5k from the prior month. There were 16 contributions that were $500 or more, totaling $16,515.
We received 21 contributions of $1005 for the International Literature Scholarship Fund. Funds are being sent to So Africa for their initial printing the Big Red Book, and Loving Parent Guidebook.
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 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.
CLICK HERE TO VIEW THE 7TH TRADITION CONTRIBUTIONS FOR THIS MONTH
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.
In service,
Fredrik H., Treasurer
ACA WSO
