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