Dear Board and Fellow ACA Members,
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Here are the September 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. Please note that Treasurer’s reports are posted two months after the current month.
CLICK HERE TO VIEW THE SEPTEMBER 2022 BALANCE SHEET
In reviewing the Balance Sheet, we can see ACA WSO ended the month with $946,687 in Total Assets. The previous month was $935,451 resulting in an increase of $11,237.
Our Total Cash and Cash Equivalents (Account 1000) decreased by $5.0k. Prepaid Expenses decreased by $28.0k, as advanced payments of inventory have now been received into physical Inventory. As such, Inventory Assets (Account 1400) showed a net increase of $14.5k. Total Fixed Assets increased by $40.2k because of the addition of Fishbowl software, and warehouse scanning equipment, which is being financed for 3 years. This loan is included in the Other Liabilities section of the Balance Sheet.
WSO’s Total Liabilities & Equity was $946,687 at the end of the period. This is an increase of $11,237 from the previous month. The Net Loss for the 9-month period is $66,714.
Note that the Equity Section includes Restricted Net Assets, which was created as a result of the International Literature Scholarship Fund. The month of September shows a balance of $9,767. Unrestricted Net Assets balance is $807,753.
Profit & Loss Statement – Current and Previous Month
CLICK HERE TO VIEW THE SEPTEMBER 2022 PROFIT & LOSS STATEMENT
Looking at the P&L we can see Total Income for the month was $146.3k, showing a decrease of $23.5k from the prior month. Total Income includes Shopify Sales, Amazon Sales, International Sales, and 7th Tradition Contributions. Shopify sales were $48.3k, showing a decrease of $6.9k from the prior month. Amazon sales were $70.3k, showing a decrease of $4.3k from the prior month. International Sales added only $284 to the bottom line for the month. Contributions from 7th Tradition will be addressed below.
The combined Cost of Goods Sold (COGS) was $89.0k, which was less than the prior month’s $102.5k. This left WSO with a Gross Profit of $57.3 before operating expenses.
WSO Expenses on the P&L include payroll, overhead and operating expenses. Overall WSO Total Expenses were $77.5k this month, which was higher than the prior month by $5.5k. After deducting expenses from the Gross Profit, WSO was left with a Net Loss of $20,225 for the month.
Profit & Loss – Actual to Budget – Year to Date
CLICK HERE TO VIEW THE SEPTEMBER YTD 2022 PROFIT & LOSS ACTUAL TO BUDGET
This report that shows us how we are performing year-to-date compared to the approved YTD budget. Our Total Income of $1,298.3k was $167.9k less than the Budgeted amount of $1,466.2k, or about 11% less than what we budgeted. Shopify sales were $454.9k and 24% lower than the budget amount of $596.5k. Amazon sales were $579.0k and 7% higher than the budget amount of $539.4k. The 7th Tradition Contributions came in at $219.9k, and 19% less than what was budgeted.
Our expenses for the September period year-to-date were $58.4k less than budgeted. We had an Actual YTD Net Loss of $66,714 compared with the Budgeted YTD Net Loss of $39,492.
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
CLICK HERE TO VIEW THE 7TH TRADITION CONTRIBUTIONS FOR THIS MONTH
WSO received $21,398 in 7th Tradition Contributions for the month from members, groups, intergroups and regions. Contributions decreased $4.7k from the prior month. There were 4 contributions to the unrestricted fund that were $500 or more, totaling $4,756.
We received 16 contributions totaling $625 for the International Literature Scholarship Fund. Since December 2021 funds in the amount of $2,816 were sent to So Africa for their initial printing of 5 different books. For the month of August $1,750 was issued from the account to provide for literature for the India Intergroup.
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