Annual Report 2014
Financials
Financial Summary
| ($ in Thousands) | ||||
| Statement of Financial Position | 2014 | 2013 | ||
|---|---|---|---|---|
| Statement of Financial Position | ACS Programs |
Petroleum Research Fund |
2014 Total | 2013 Total |
| ASSETS | ||||
| Cash and Cash Equivalents | $40,371 | $14,493 | $54,864 | $37,669 |
| Accounts and Pledges Receivable | 116,753 | - | 116,753 | 106,361 |
| Investments | 504,603 | 537,690 | 1,042,293 | 1,015,604 |
| Buildings, Land, and Other Property | 106,134 | 12 | 106,146 | 107,582 |
| Interfund (Payable) Receivable | (16,628) | 16,628 | - | - |
| Other | 24,130 | 32 | 24,162 | 24,243 |
| Total Assets | $775,363 | $568,855 | $1,344,218 | $1,291,459 |
| Statement of Financial Position | 2014 ACS Programs | 2014 Petroleum Research Fund | 2014 Total | 2013 Total |
| LIABILITIES AND NET ASSETS | ||||
|---|---|---|---|---|
| LIABILITIES | ||||
| Accrued Expenses and Accounts Payable | $69,204 | $13,873 | $83,077 | $79,600 |
| Deferred Revenues | 187,101 | - | 187,101 | 168,134 |
| Short and Long-Term Debt | 853 | - | 853 | 1,660 |
| Postretirement Benefits and Other | 221,340 | 4,408 | 225,748 | 146,201 |
| Total Liabilities | 478,498 | 18,281 | 496,779 | 395,595 |
| Statement of Financial Position | 2014 ACS Programs | 2014 Petroleum Research Fund | 2014 Total | 2013 Total |
|---|---|---|---|---|
| NET ASSETS | ||||
| Unrestricted | 190,103 | - | 190,103 | 250,730 |
| Temporarily Restricted | 30,574 | 478,074 | 508,648 | 499,203 |
| Permanently Restricted | 76,188 | 72,500 | 148,688 | 145,931 |
| Total Net Assets | 296,865 | 550,574 | 847,439 | 895,864 |
| Total Liabilities and Net Assets | $775,363 | $568,855 | $1,344,218 | $1,291,459 |
| Statement of Activities | 2014 | 2013 | ||
|---|---|---|---|---|
| Statement of Activities | ACS Programs |
Petroleum Research Fund |
2014 Total | 2013 Total |
| REVENUES | ||||
| Electronic Services | $436,084 | - | $436,084 | $429,988 |
| Member Insurance Premiums, Refunds, and Fees | 13,805 | - | 13,805 | 15,310 |
| Dues | 12,102 | - | 12,102 | 11,958 |
| Registration Fees and Booth Sales | 10,744 | - | 10,744 | 9,745 |
| Investment Income | 9,460 | 75 | 9,535 | 6,684 |
| Advertising | 8,073 | - | 8,073 | 7,947 |
| Printed Services | 4,740 | - | 4,740 | 6,651 |
| Net Assets Released from Restriction | 5,180 | 23,933 | 29,113 | 27,695 |
| Other | 6,520 | - | 6,520 | 6,660 |
| Total Unrestricted Revenues | 506,708 | 24,008 | 530,716 | 522,638 |
| Statement of Activities | 2014 ACS Programs | 2014 Petroleum Research Fund | 2014 Total | 2013 Total |
|---|---|---|---|---|
| EXPENSES | ||||
| Information Services | 376,136 | - | 376,136 | 372,589 |
| Member Programs and Services | 43,261 | - | 43,261 | 42,587 |
| Member Insurance Program | 15,517 | - | 15,517 | 15,300 |
| Grants and Awards | 2,551 | 22,445 | 24,996 | 23,433 |
| Administrative | 43,343 | 1,563 | 44,906 | 43,653 |
| Other | 7,754 | - | 7,754 | 8,195 |
| Total Expenses | 488,562 | 24,008 | 512,570 | 505,757 |
| Statement of Activities | 2014 ACS Programs | 2014 Petroleum Research Fund | 2014 Total | 2013 Total |
|---|---|---|---|---|
| Net Contribution | 18,146 | - | 18,146 | 16,881 |
| Net Investment Gains | 15,428 | - | 15,428 | 34,107 |
| Change in Pension Funding Status | (94,201) | - | (94,201) | 60,946 |
| Change in Unrestricted Net Assets | (60,627) | - | (60,627) | 111,934 |
| Contributions | 4,139 | - | 4,139 | 3,499 |
| Investment Income and Net Investment Gains / (Losses) | 5,941 | 31,235 | 37,176 | 82,304 |
| Net Assets Released From Restriction | (5,180) | (23,933) | (29,113) | (27,695) |
| Change in Restricted Net Assets | 4,900 | 7,302 | 12,202 | 58,108 |
| Change in Total Net Assets | (55,727) | 7,302 | (48,425) | 170,042 |
| Beginning Total Net Assets | 352,592 | 543,272 | 895,864 | 725,822 |
| Ending Total Net Assets | $296,865 | $550,574 | $847,439 | $895,864 |