Dear Board and Fellow ACA Members,
Here are the April 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.
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 $919,640 in Total Assets. The previous month was $971,214, resulting in a decrease of $51,574.
Our Total Cash and Cash Equivalents (Account 1000) decreased by $26k. Inventory Assets (Account 1400) decreased due to the normal sell-through of inventory.
WSO’s Total Liabilities & Equity was $919,640 at the end of the period. This is a decrease of $51,574 from the previous month. The Net Loss for the 4-month period is $25,067.
Note that the Equity Section includes Restricted Net Assets, which was created as a result of the International Literature Scholarship Fund. The month of April is showing a balance of $7,324. Unrestricted Net Assets balance is $810,193.
Profit & Loss Statement – Current and Previous Month
Looking at the P&L we can see Total Income for the month was $128.7k, showing a decrease of $8.9k from the prior month. Total Income includes Shopify and Amazon Sales, and 7th Tradition Contributions. Shopify sales were $42.7k, showing a decrease of $5.9k from the prior month. Amazon sales were $62.6k, showing a decrease of $7.1k from the prior month. Contributions from 7th Tradition will be addressed below.
The combined Cost of Goods Sold (COGS) was $75.2k which was less than the prior month’s $91.5k. This left WSO with a Gross Profit of $53.5k before operating expenses.
WSO Expenses on the P&L include payroll, overhead and operating expenses. Overall WSO Total Expenses were $71.6k this month, which were higher than the prior month by $8.5k. After deducting expenses from the Gross Profit, WSO was left with a Net Loss of $18,169 for the month.
Profit & Loss – Actual to Budget – Year to Date
This report that shows us how we are performing year-to-date compared to the approved YTD budget. Our Total Income of $577.3k was $65.5k less than the Budgeted amount of $642.8k, or about 10% less than what we budgeted. Shopify sales were $202.4k and 26% lower than the budget amount of $274k. Amazon sales were $265.2k and 22% higher than the budget amount of $217.3k. The 7th Tradition Contributions came in at $101.5k, and 20% lower than what was budgeted.
Our expenses for April period year-to-date were $29k less than budgeted. Overall, our Actual YTD Net Loss of $25,067 was greater than the Budgeted YTD Net Loss of $18,709.
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 $20,399 in 7th Tradition Contributions for the month from members, groups, intergroups and regions. Contributions increased $3k from the prior month. There were 6 contributions that were $500 or more, totaling $5,171.
We received 16 contributions of $327 for the International Literature Scholarship Fund. In the month of April funds in the amount of $493 were sent to So Africa for their initial printing of Strengthen my Recovery books.
To see the 7th Tradition Contributions for the month, click the link above or go to the 7th Traditions tab in the right-side menu of the acawso.org website.
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.
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