2016 FINANCIAL STATEMENTS

Consolidated Statements of Financial Position for the years ended December 31, 2016 and 2015 ($ in thousands)

ASSETS 2016 2015
Cash 7,792 5,311
Accounts receivable, net 4,507 3,345
Grants and contributions receivable, net 7,616 11,064
Prepaid expenses and other 2,540 2,800
Investments 58,858 77,169
Property, plant and equipment 57,867 57,490
Total assets 139,180  157,179 
LIABILITIES AND NET ASSETS
Liabilities:
Accounts payable and accrued expenses 10,384 10,629
Deferred dues, subscriptions revenue and other 20,613 22,133
Bonds payable, net 7,471
Total liabilities 30,997 40,233
Net assets:
Unrestricted 77,284 83,611
Temporarily restricted 15,825 18,309
Permanently restricted 15,074 15,026
Total net assets 108,183 116,946
Total liabilities and net assets 139,180 157,179

Consolidated Statements of Activities for the years ended December 31, 2016 and 2015 ($ in thousands)

Revenues: 2016 2015
Member dues 8,730 9,446
Publishing 54,251 49,891
Grants and other program support 29,090 29,023
Leasing, investments and other 10,381 10,185
102,452 98,545
Expenses:
Publishing 50,334 47,198
Education, policy and other programs 39,892 38,424
General and administrative expenses 19,040 16,398
109,266 102,020
Operating income, before tax (6,814) (3,475)
Provision for income tax 133 58
Nonoperating revenue and expense 620 (6,841)
Change in unrestricted net assets (6,327) (10,374)
Change in restricted net assets (2,436) 6,370
Change in net assets (8,763) (4,004)
Net assets, beginning of year 116,946 120,950
Net assets, end of year 108,183 116,946