2014 Annual Report
2014 ANNUAL REPORT | FINANCIALS
2014 ANNUAL REPORT | FINANCIALS
Statements of Activities
Statements of Cash Flows
Year Ended December 31,
2014
2013
Year Ended December 31,
2014
2013
Unrestricted activities Revenue and support Science News
Cash flows from operating activities Change in net assets
$(7,204,669)
$(8,189,066)
Adjustments to reconcile change in net assets to net cash used in operating activities: Depreciation and amortization
$ 4,262,860
Magazine subscriptions Advertising and other Science education programs
$ 4,606,591
459,895 886,628 259,425
288,253
562,289 758,767 142,979
179,302
(1,781,155)
Amortization of discount to net present value
(2,355,689) (122,844) (839,529) (200,000)
-
Membership and other
Contributed property and equipment
14,854,936
(106,269) (400,000)
Net assets released from restriction
13,182,373
Net gain on investments
Contributions restricted for permanent endowment
20,723,744
Total revenue and support
19,252,999
Changes in assets and liabilities: Grants receivable, net Subscriptions receivable, net
7,982,206 26,568 291,581 (18,770) 176,159 (91,738) (881,499) 656,000 -
Expense
12,575,647
Program services Science education programs
66,965
12,197,919 6,832,733
10,495,149 7,338,857
Other receivables, net
(194,284) (229,887)
Science News
Prepaid expenses
686,859
Outreach
544,841
Inventory
20,280
Accounts payable and accrued expenses
(181,048) (217,730) (457,985) (188,000)
19,717,511
Total program services Supporting services
18,378,847
Awards payable
Deferred subscription revenue Accrued postretirement benefits
1,045,094
General and administrative
1,047,671
240,565
Development
143,857
6,141,336
Total adjustments
7,855,198
1,285,659
Total supporting services
1,191,528
(1,063,333)
Net cash used in operating activities
(333,868)
21,003,170
Total expense
19,570,375
Cash flows from investing activities Purchases of investments Proceeds from sales of investments
(279,426)
Change in unrestricted net assets from operations
(317,376)
(13,205,275) 12,206,502
(10,369,841)
Non-operating activity Investment income
9,389,158 (488,986)
775,676 (631,000)
1,444,094
(12,119)
Purchases of property and equipment
Accrued postretirement benefit adjustment
257,025
(1,010,892)
Net cash used in investing activities
(1,469,669)
(134,750)
Change in unrestricted net assets
1,383,743
Cash flows from financing activities Proceeds from endowment contributions
Temporarily restricted activities Science education programs
400,000
200,000
7,128,027
2,999,040
622,404
Outreach and other Investment income
570,805 16,854
Net change in cash and cash equivalents
(1,674,225) 4,884,944
(1,603,537) 6,488,481
6,799
Cash and cash equivalents, beginning of year
(14,854,936)
Net assets released from restriction
(13,182,373)
Cash and cash equivalents, end of year
$3,210,719
$ 4,884,944
(7,097,706)
Change in temporarily restricted net assets
(9,595,674)
Supplemental disclosure of noncash investing activities Contributed property and equipment
Permanently restricted activities Science education programs
$
-
$ 122,844
11,408 16,379
16,865
Investment income
6,000
27,787
Change in permanently restricted net assets
22,865
Change in net assets
(7,204,669) 75,979,569
(8,189,066) 84,168,635
Net assets, beginning of year
Net assets, end of year
$ 68,774,900
$ 75,979,569
28 SOCIETY FOR SCIENCE & THE PUBLIC
2014 ANNUAL REPORT 29
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