|
|
Financial Statements for the Association of the Bar of the City of New
York
|
| Statement
of Financial Position |
As of April 30, 2008
|
| Assets |
| Cash
and cash equivalents |
$  3,010,315 |
| Accounts
receivable, net |
836,877
|
| Prepaid
expenses |
398,949
|
| Investments |
11,360,855
|
| Land,
property and equipment, net |
14,347,150
 |
Total assets
|
$ 29,954,146
|
| Liabilities
and Net Assets |
| Liabilities: |
| Accounts
payable and accrued expenses |
$ 1,782,777 |
| Dues
received in advance |
1,490,699
|
| Accrued
pension cost |
1,301,391
|
| Equipment
lease obligations |
49,949
|
Total liabilities
|
4,624,816
|
| Unrestricted
net assets: |
| Operating
funds |
356,729
|
| Invested
in land, property and library |
10,346,986
|
| Executive
Committee Designated Funds: |
| Long-term
investment |
7,545,413
|
| Capital
improvements |
193,867
|
| Endowments |
1,538,774
|
| Cumulative
gains on permanently restricted endowments |
1,153,653
|
Total unrestricted
net assets
|
21,135,422
|
| Temporarily
restricted net assets: |
| Spendable
restricted funds |
444,702
|
| Funds
functioning as endowments |
1,603,435
|
| Cumulative
gains on permanently restricted endowments |
1,354,554
|
Total temporarily
restricted net assets
|
3,402,691
|
| Permanently
restricted net assets |
791,217
|
Total net
assets
|
25,329,330
|
Total
Liabilities and Net Assets
|
$ 29,954,146
|
|
| Statement
of Activities |
Year
Ended April 30, 2008
|
| Operating
revenues: |
| Dues
and admission fees |
$ 6,857,124 |
| Investment
earnings appropriated for current operations |
727,283
|
| Continuing
legal education |
3,550,597
|
| Legal
referral service |
1,626,381
|
| Catering
services |
1,196,892
|
| Library
services |
92,610
|
| Committee
and legislative programs |
150,198
|
| Royalty
income |
222,839
|
| Membership program income |
93,597
|
| Donated
Services |
616,856
|
| Other
income |
346,131
|
Revenues
before net assets released from restrictions
|
15,480,508
|
| Net
assets released from restrictions |
103,414
|
Total operating
revenues
|
15,583,922
|
| Operating
expenses: |
| Program
activities |
12,279,443
|
| General
and administrative |
3,164,077
|
Total operating
expenses
|
15,443,520
|
Operating
Surplus
|
140,402
|
Nonoperating
activities:
|
Net
investment losses in excess of amounts designated
for current
operations |
(694,193)
|
| Other income |
443,000
|
| Grant received for capital project |
630,534
|
| Depreciation |
(563,710)
|
| Loss in actuarial valuation of pension cost |
(226,110)
|
Change in unrestricted net assets
|
(270,077)
|
| Change
in temporarily restricted net assets: |
| Net
investment losses |
(109,163)
|
| Other
income |
20,774
|
| Net
assets released from restrictions for current operations |
(103,414)
|
Change in temporarily restricted net assets
|
(191,803)
|
| Change
in net assets |
(461,880)
|
| Net
assets – beginning of year |
25,791,210
|
| |
| Net
assets – end of year |
$ 25,329,330
|
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