American Foundation for the Blind, Inc. and Subsidiary and AFB Special Fund, Inc. Consolidated Statements of Financial Position
June 30, 2023 and 2022
(Amounts expressed in thousands)
Assets |
2023 |
2022 |
|---|---|---|
Current Assets |
||
Cash and cash equivalents |
$1,240 |
$1,805 |
Accounts receivable, net |
38 |
136 |
Pledges and grants receivable, net |
140 |
882 |
Other receivables |
442 |
45 |
Prepaid expenses and other assets |
101 |
190 |
Total Current Assets |
1,961 |
3,058 |
| Noncurrent Assets | ||
Investments, at fair value |
27,541 |
22,781 |
Property and equipment, net |
100 |
80 |
Total Noncurrent Assets |
27,641 |
22,861 |
Total Assets |
$29,602 |
$25,919 |
Liabilities and Net Assets |
2023 |
2022 |
|---|---|---|
Current Liabilities |
||
Accounts payable and accrued expenses |
$971 |
$587 |
Deferred revenue |
85 |
55 |
Total Current Liabilities |
1,056 |
642 |
Noncurrent Liabilities |
||
Deferred rent obligation |
— |
8 |
Accrued postretirement benefit liability |
80 |
96 |
Total Noncurrent Liabilities |
80 |
104 |
| Net Assets | ||
Without donor restrictions |
10,207 |
9,340 |
With donor restrictions |
18,259 |
15,833 |
| Total Net Assets | 28,466 |
25,173 |
Total Liabilities and Net Assets |
$29,602 |
$25,919 |
American Foundation for the Blind, Inc. and AFB Special Fund, Inc. (AFBSF) Consolidated Statements of Activities and Changes in Net Assets
June 30, 2023 And 2022
(Amounts expressed in thousands)
| Revenues, Gains and Other Support | Without Donor Restrictions | With Donor Restrictions | Eliminating Entries | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|---|---|---|
| AFB | AFBSF | HKDA | AFB | AFBSF | HKDA | ||||
| Public support | $1,018 |
$ — |
$ — |
$1,885 |
$ — |
$ — |
$ — |
$2,903 |
$5,286 |
Legacies and bequests |
1,871 |
— |
— |
2,990 |
— |
— |
— |
4,861 |
8,958 |
Grants from government agencies |
273 |
— |
— |
5 |
— |
— |
— |
278 |
51 |
Contributed services, media time |
2,592 |
— |
— |
— |
— |
— |
— |
2,592 |
3,318 |
|
Total Public Support |
5,754 |
— |
— |
4,880 |
— |
— |
— |
10,634 |
17,613 |
Other Revenue |
|||||||||
Sales |
141 |
— |
— |
164 |
— |
— |
(101) |
204 |
662 |
Investment activity |
1,170 |
324 |
— |
1,304 |
— |
— |
— |
2,798 |
(2,423) |
Royalty and other income |
342 |
— |
— |
— |
— |
— |
(250) |
92 |
25 |
Miscellaneous revenue |
8 |
— |
— |
1 |
— |
— |
— |
9 |
18 |
|
Total Other Revenue |
1,661 |
324 |
— |
1,469 |
— |
— |
(351) |
3,103 |
(1,718) |
Net assets released from restrictions |
3,506 |
— |
417 |
(3,506) |
— |
(417) |
— |
— |
— |
Total Revenues, Gains and Other Support |
10,921 |
324 |
417 |
2,843 |
— |
(417) |
(351) |
13,737 |
15,895 |
Expenses | |||||||||
Program Services |
|||||||||
Knowledge building and information dissemination |
$2,326 |
$ — |
$417 |
$ — |
$ — |
$ — |
$(36) |
$2,707 |
$4,389 |
Technology solutions |
3,698 |
— | — | — | — | — | (42) | 3,656 | 3,023 |
Advocacy and public policy |
1,867 | — | — | — | — | — | — | 1,867 | 1,781 |
Total program services |
7,891 |
— |
417 |
— |
— |
— |
(78) |
8,230 |
9,193 |
|
Supporting Services |
|||||||||
|
Management and general |
1,178 |
302 |
— |
— |
— |
— |
(273) |
1,207 |
1,324 |
Fundraising |
1,004 |
— |
— |
— |
— |
— |
— |
1,004 |
2,021 |
Cost of direct benefits to donors |
— |
— |
— |
— |
— |
— |
— |
— |
413 |
|
Total supporting services |
2,182 |
302 |
— |
— |
— |
— |
(273) |
2,211 |
3,758 |
Total Expenses |
10,073 |
302 |
417 |
— |
— |
— |
(351) |
10,441 |
12,951 |
Change in net assets before postretirement related changes |
848 |
22 |
2,843 |
— |
(417) |
— |
3,296 |
2,944 |
|
Postretirement related changes other than net periodic costs |
(3) |
— |
— |
— |
— |
— |
— |
(3) |
1 |
Changes In Net Assets |
845 |
22 |
— |
2,843 |
— |
(417) |
— |
3,293 |
2,945 |
Net Assets, Beginning of Year |
8,519 |
821 |
— |
15,812 |
— |
21 |
— |
25,173 |
22,228 |
Net Assets, End of Year |
$9,364 |
$843 |
— |
$18,655 |
— |
$(396) |
— |
$28,466 |
$25,173 |
