Page 35 - 2017 Annual Report

The Honor Society of Phi Kappa Phi and The Phi Kappa Phi Foundation The Honor Society of Phi Kappa Phi and The Phi Kappa Phi Foundation

COMBINED STATEMENTS OF FINANCIAL POSITION COMBINED STATEMENTS OF ACTIVITIES

At June 30, 2017 and 2016 For the Years Ended June 30, 2017 and 2016

ASSETS 2017 2016 REVENUE, GAINS, AND OTHER SUPPORT 2017 2016

Current Assets Contributions $167,059 $152,858

Cash and Cash Equivalents $124,943 $623,172 Annual Membership Dues 1,836,987 1,862,589
Investments 563,320 552,580
Inventory 51,974,104 47,852,315 Initiation Fees 479,625 467,960
Accounts Receivable
Other Assets 112,953 217,741 Life Memberships 1,484,417 1,499,298
Total Current Assets 43,656 103,357 Dividends and Interest
149,093 Net Unrealized and Realized Gains 3,355,559 (455,992)
Property and Equipment 142,467 (Losses) on Investments
Land
Building 52,398,123 48,945,678 Sales of Jewelry, Certificate Frames,
Furniture and Equipment
Apparel, and Other Items 237,494 302,025
124,384 114,748
114,000 114,000 Royalty Income
1,333,233 1,298,644 27,177 35,351
1,546,459 1,520,911 Other Revenues
8,276,022 4,531,417
Total Revenues, Gains, and
Other Support

Less: Accumulated Depreciation (1,630,661) (1,493,354) EXPENSES
Property and Equipment, Net 1,363,031 1,440,201
Other Assets Fellowship Program 324,990 339,215
Deposits 12,708 12,000 Literacy Grants 29,989 29,183
Study Abroad Program 75,000 50,000

Investments - Restricted 2,592,319 2,584,709 Scholar/Artist/Service Awards 3,000 -

Total Assets $56,366,181 $52,982,588 Dissertation Fellowships 100,000 20,000

LIABILITIES AND NET ASSETS Love of Learning Award 90,000 80,000
Liabilities Innovation in Higher Education Award 100,000 -
Society Headquarters - Salaries 1,319,449
1,300,992

Current Liabilities Society Headquarters - Fringe Benefits 387,988 369,421

Accounts Payable and $318,387 $293,849 Society Headquarters - 198,297 194,062
Accrued Expenses Facilities and Operations

Advanced Payment of Dues, 1,313,537 1,280,828 Resale Items 182,251 220,394
Current Portion Board of Directors 75,984 73,810

Advanced Payment - 15,150 58,500 Depreciation 139,976 143,589
Convention and Conference 89,704 87,020 Development 17,408 17,082
Notes Payable, Current Portion Chapter Support 48,705
186,432

Due to Chapters 92,230 75,943 Committee Meetings 38,617 25,546

Total Current Liabilities 1,829,008 1,796,140 Marketing and Communications 630,815 513,193

Long-Term Liabilities Publications 261,611 274,130

Advanced Payment of Dues, Investments Expense 100,817 160,886
Net of Current Portion 9,459
Notes Payable, Net of Current Portion 317,811 335,456 Interest Expense 6,837
Total Liabilities 84,371 173,985 127,074
2,305,581 Information Technology 102,744 225,015
2,231,190
48,092,298 Other Society Headquarters Office Expense 249,698 48,664
2,584,709 16,576
Net Assets Professional Fees 41,585 4,424,723
50,677,006 106,694
Unrestricted 51,542,672 Convention Expense 292,276 50,570,312
Permanently Restricted 2,592,319
Total Expenses 4,818,037

Change in Net Assets 3,457,985

Total Net Assets 54,134,991 Net Assets at Beginning of Year 50,677,006

Total Liabilities and Net Assets $56,366,181 $52,982,588 Net Assets at End of Year $54,134,991 $50,677,006