AMERICAN WELDING SOCIETY, INC., AND AWS FOUNDATION COMBINED STATEMENTS OF ACTIVITIES (CONTINUED) FOR THE YEAR ENDED DECEMBER 31, 2015 (WITH COMPARATIVE TOTALS FOR THE YEAR ENDED DECEMBER 31, 2014) The accompanying notes are an integral part of these combined financial statements. 44 WELDING JOURNAL / JUNE 2016 Net Change in Temporarily Permanently Unrestricted Unrestricted Unrestricted Restricted Restricted Total Total Revenues Expenses Net Assets Net Assets Net Assets 2015 2014 AWS FOUNDATION: Donations $ 257,660 $ - $ 257,660 $ 1,234,300 $ - $ 1,491,960 $ 803,447 Interest and dividends 1,691,840 - 1,691,840 90,748 - 1,782,588 1,855,664 (Loss) gain on investments, net (2,498,987) - (2,498,987) 330,266 - (2,168,721) 951,686 Net assets released from restrictions by satisfaction of purpose restrictions 470,603 - 470,603 (470,603) - - - Operating expenses - 1,274,030 (1,274,030) - - (1,274,030) (278,615) Scholarships - 528,524 (528,524) - - (528,524) (418,252) Fellowships - 100,000 (100,000) - - (100,000) (50,000) Fundraising and other - 54,163 (54,163) - - (54,163) (280,907) TOTAL CHANGE IN AWS FOUNDATION FUND BEFORE TRANSFERS (78,884) 1956,717 (2,035,601) 1,184,711 - (850,890) 2,583,023 INTER-FUND TRANSFERS 553,556 - 553,556 4,601,075 (1,111,633) 4,042,998 3,302,929 TOTAL CHANGE IN AWS FOUNDATION FUND AFTER TRANSFERS 474,672 1,956,717 (1,482,045) 5,785,786 (1,111,633) 3,192,108 5,885,952 PROPERTY FUND: Building operations 755,090 719,002 36,088 - - 36,088 (79,927) TOTAL CHANGE IN PROPERTY FUND BEFORE TRANSFERS 755,090 719,002 36,088 - - 36,088 (79,927) INTER-FUND TRANSFERS 166,721 - 166,721 - - 166,721 360,606 TOTAL CHANGE IN PROPERTY FUND AFTER TRANSFERS 921,811 719,002 202,809 - - 202,809 280,679 CHANGE IN NET ASSETS 6,212,277 5,785,786 (1,111,633) 10,886,430 13,752,311 NET ASSETS, BEGINNING 86,685,988 10,299,591 7,947,786 104,933,365 91,181,054 NET ASSETS, ENDING $ 92,898,265 $ 16,085,377 $ 6,836,153 $115,819,795 $104,933,365
Welding Journal | June 2016
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