The AMS has completed 2018 in good financial shape. Income for the year was $17,335.54 and expenses were $8,168.67, giving us a net income on a cash basis of $9,166.87.
We presently hold $19,356.40 in liquid assets between our Wells Fargo checking account and our PayPal account. Of that sum, $4,938.00 is allocated to the Chet Leathers Scholarship fund and the rest is unrestricted.
It should be noted that we still are liable for an outstanding debt of approximately $4,000 for the food and hotel charges at the August 2018 annual foray, for which we have not yet been billed by the Sunrise Park resort due to some internal turmoil in their management. On an accrual basis, that would give us a more realistic "net worth" of approximately $15,000 and a net annual income of around $5000.
If you would like to see the more detailed Statement of Financial Activities (the non-profit equivalent of an income statement or profit/loss statement), it is at this link:
• 2018 AMS Statement of Financial Activities
If you wish to see the Statement of Financial Position, i.e. the non-profit version of a balance sheet, it is at this link:
• 2018 AMS Statement of Financial Position
Naturally, as a non-profit corporation, any or all of the receipts and other supporting documentation for our financial affairs is available for any member to inspect on demand.
The Board is grateful for the generosity of the members of the Society, and eager to use the financial stability it provides to advance the educational, scientific, and charitable purposes of our organization to even greater heights in 2019.