Dear Board and Fellow ACA Members,
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Here are the February 2022 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 FEBRUARY 2022 BALANCE SHEET
In reviewing the Balance Sheet, we can see ACA WSO ended the month with $940,836 in Total Assets. The previous month was $931,837, resulting in an increase of $8,999.
Our Total Cash and Cash Equivalents (Account 1000) decreased by $125.3k, mainly because we paid for two large book orders. Prepaids increased by $86k because one large order for printing books in India was paid in advance. Inventory Assets (Account 1400) show a net increase of $45.5k, due to the receipt of a large order of Laundry List Workbooks, less the normal sell-through of Inventory.
WSO’s Total Liabilities & Equity was $940,836 at the end of the period. This is an increase of $8,999 from the previous month. The Net Loss for the month of February is $2,480
Note that the Equity Section includes Restricted Net Assets, which was created as a result of the International Literature Scholarship Fund. The month of February is showing a balance of $7,393. Unrestricted Net Assets balance is $811,782.
Profit & Loss Statement – Current and Previous Month
CLICK HERE TO VIEW THE FEBRUARY 2022 PROFIT & LOSS STATEMENT
Looking at the P&L we can see Total Income for the month was $141.5k, showing a decrease of $28.1k from the prior month. Total Income includes Shopify and Amazon Sales, and 7th Tradition Contributions. Shopify sales were $47.7k, showing a decrease of $15.8k from the prior month. Amazon sales were $64.8k, showing a decrease of $3.2k from the prior month. Contributions from 7th Tradition will be addressed below.
The combined Cost of Goods Sold (COGS) was $77.1k which was less than the prior month’s $100.9k COGS. This left WSO with a Gross Profit of $64.4k before operating expenses.
WSO Expenses on the P&L include payroll, overhead and operating expenses. Overall WSO Total Expenses were $66.9k this month, which were higher than the prior month by $10.9k. Expenses were higher because of additional accounting fees for Webgility Maintenance and tax preparation, software training and implementation, and increase in Rent for the additional warehouse space After deducting expenses from the Gross Profit, WSO was left with a Net Loss of $2,480 for the month.
Profit & Loss – Actual to Budget – Current Month
CLICK HERE TO VIEW THE FEBRURY 2022 PROFIT & LOSS ACTUAL TO BUDGET
This report that shows us how we are performing monthly compared to the approved budget. Our Total Income of $141.5k was $19.0k less than the Budgeted amount of $160.4k, or about 11.8% less than what we budgeted. Shopify sales were $47.7k and 30.3% lower than the budget. Amazon sales were $64.8k and 19.4% higher than the budget. The 7th Tradition Contributions came in at $28.6k, and 9.4% lower than what was budgeted.
Our expenses for the month were $3.3k higher than budgeted. Overall, for the month, our Actual Net Loss of $2,480 was less than the Budgeted Net Income of $3,121.
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 $28,626 in 7th Tradition Contributions for the month from members, groups, intergroups and regions. Contributions decreased $6.5k from the prior month. There were 10 contributions that were $500 or more, totaling $12,899.
We received 7 contributions of $158 for the International Literature Scholarship Fund. In December funds were 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
