AMERICAN WELDING SOCIETY, INC., AND AWS FOUNDATION COMBINED STATEMENT OF FINANCIAL POSITION DECEMBER 31, 2015 (WITH COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER 31, 2014) ASSETS 2015 2014 Cash and cash equivalents $ 5,481,017 $ 1,556,424 Accounts and other receivables, net of allowance for doubtful accounts of approximately $244,000 for 2015 and 2014 5,186,623 4,297,489 Inventory 369,481 10,316 Prepaid expenses 469,552 640,424 Deposits 990,261 750,108 Note receivable - 3,680,000 Other assets 2,394,000 2,394,000 Investments 77,949,284 69,076,042 Goodwill 1,875,186 250,000 Property and equipment, net 27,406,452 27,400,682 TOTAL ASSETS $ 122,121,856 $ 110,055,485 LIABILITIES Accounts payable, accrued expenses and other liabilities $ 1,744,218 $ 1,581,172 Deferred membership, subscription and seminar income 4,557,843 3,540,948 TOTAL LIABILITIES 6,302,061 5,122,120 COMMITMENTS AND CONTINGENCIES (NOTE 16) NET ASSETS Unrestricted 92,898,265 86,685,988 Temporarily restricted 16,085,377 10,299,591 Permanently restricted 6,836,153 7,947,786 TOTAL NET ASSETS 115,819,795 104,933,365 TOTAL LIABILITIES AND NET ASSETS $ 122,121,856 $ 110,055,485 The accompanying notes are an integral part of these combined financial statements. LIABILITIES AND NET ASSETS 42 WELDING JOURNAL / JUNE 2016
Welding Journal | June 2016
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