Golf Course Management

JUN 2013

Golf Course Management magazine is dedicated to advancing the golf course superintendent profession and helping GCSAA members achieve career success.

Issue link: http://gcmdigital.gcsaa.org/i/132416

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Golf Course Superintendents Association of America and Related Entity Consolidated Statements of Activities Years Ended December 31, 2012 and 2011 2012 2011 Assets Cash and cash equivalents Accounts receivable Investments Inventory Other assets Property and equipment, at cost, less accumulated depreciation $ 507,136 982,552 6,505,070 268,674 851,627 $ 412,547 900,314 6,454,372 185,383 569,311 6,739,645 $ 15,854,704 6,255,560 $ 14,777,487 $ 1,764,783 $ 1,226,441 7,020,306 $ 8,785,089 7,069,615 $ 15,854,704 6,550,751 $ 7,777,192 7,000,295 $ 14,777,487 $ 4,211,928 5,800,802 4,181,177 79,652 $ 14,273,559 $ 4,431,217 5,759,131 4,225,336 67,756 $ 14,483,440 Program services Education, information, publications, and website Conference and show Member and chapter services Image, career development, and media relations Total expense for program services $ 5,164,596 3,629,300 1,870,878 1,542,479 $ 12,207,253 $ 5,478,749 3,781,317 1,578,157 1,261,791 $ 12,100,014 General and administrative expense Change in unrestricted net assets before other income 3,075,612 $ (1,009,306) 2,945,550 $ (562,124) $ 781,452 $ (114,517) 297,174 $ 1,078,626 $ 207,098 92,581 Liabilities and Net Assets Accounts payable and accrued expenses Unearned revenue (primarily dues income and exhibit revenue) Unrestricted net assets Revenues and Other Support Advertising, education, EIFG grants and website Conference and show Membership dues Career development and sponsorships Total revenues and other support Expenses Other Income and Extraordinary Items Net investment income Net adjustment for extraordinary items Rental and other income Total other income and extraordinary items Change in unrestricted net assets Unrestricted net assets, beginning of the year Unrestricted net assets, end of the year 69,320 (469,543) 7,000,295 $ 7,069,615 7,469,838 $ 7,000,295 The information contained in the Audit Report for the period ending 12/31/12 fairly presents, in all material respects, the fnancial condition and results of operations of GCSAA and GCSAA Communications, Inc. The consolidated fnancial statements for GCSAA and GCSAA Communications, Inc. were audited by an independent certifed public accounting frm. The full text of the audit reports, fnancial statements and related notes are available at www.gcsaa.org (in the 'About GCSAA' section), or by contacting GCSAA Member Solutions at (800) 472-7878. G-7

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