By Michael Mitrano
The income statements and balance sheet below show the AAAP’s financial results for the fiscal year that ended on June 30, 2020, and the AAAP’s financial position at the beginning and the end of the year.
The AAAP had very small surplus — $301 — for the fiscal year. The income statement shows moderate investment in observing equipment (mainly the scope and mount intended for outreach.) Our largest recurring expenses are internet/phone at the observatory, insurance, and Meet-Up fees (shown under Marketing.) There was some trailing activity from last year’s navigation class.
PayPal fees – incurred when members pay via PayPal – account for most of our banking fees and roughly equal three members’ dues income. Payments via check to the PO box are always welcome.
In 2021 we will likely incur the observatory column replacement costs, with fundraising hopefully offsetting a significant portion.
Membership for FY 2020 remained strong, with a total of 112 paid members by year end. This does not include the three new members who joined in June and whose dues payments are applied to the fiscal year that just began on July 1.
The chart below shows AAAP reserves over the past 15 years.
Our cash balances and cumulative reserves remain close to $15 thousand, equaling roughly three years of the association’s expenses at last year’s level.
Please email me at email@example.com if you have any questions about the report.