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livingdustmops · 09-02-2009, 02:09 PM

American Kennel Club - AKC Board Meeting Minutes

Financial Report
James Stevens, Chief Financial Officer, gave a report:
Total annual revenues for 2008 of $66.4 million were 1.6% below the prior year. 2008’s total operating expenses of $63.6 million were 2.6% higher than 2007. This resulted in an operating surplus of $2.9 million for the year, which was above budget, vs. $5.5 million in 2007.
The market value of our investments depreciated during 2008 by $18.7 million or 30.7% due to the dismal performance of the stock market last year.
Consequently, 2008’s bottom line reflected a net deficit of $15.8 million. This contrasted with a net surplus of $10.4 million in 2007.

This is a not for profit organization and I believe they can do a better job protecting the dogs with this kind of revenue.

09-02-2009, 02:09 PM	#15
livingdustmops Princess Poop A Lot Donating Member Join Date: Nov 2005 Location: Colorado Posts: 6,728	American Kennel Club - AKC Board Meeting Minutes Financial Report James Stevens, Chief Financial Officer, gave a report: Total annual revenues for 2008 of $66.4 million were 1.6% below the prior year. 2008’s total operating expenses of $63.6 million were 2.6% higher than 2007. This resulted in an operating surplus of $2.9 million for the year, which was above budget, vs. $5.5 million in 2007. The market value of our investments depreciated during 2008 by $18.7 million or 30.7% due to the dismal performance of the stock market last year. Consequently, 2008’s bottom line reflected a net deficit of $15.8 million. This contrasted with a net surplus of $10.4 million in 2007. This is a not for profit organization and I believe they can do a better job protecting the dogs with this kind of revenue. __________________ Cindy & The Rescued Gang Puppies Are Not Products!