Interesting data on 2014 AMA Financial/tax statement
08-12-2016, 12:37 PM
#28
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Page 4 of the 2014 Annual audit. Also to add to this, I'm not sure what percentage of our dues goes towards the magazine. So I don't have that additional revenue added in.
08-12-2016, 12:40 PM
#29
Total compensation is indeed a valid measure. And the AMA's ED's total compensation ($138K) is more than the median ($131K) for similarly sized 501c3 organizations ( $3.5M < expenses < $13.5M) in the Midwest, per "Charity Navigator" study.
http://www.charitynavigator.org/inde...ay=studies.ceo
08-12-2016, 12:45 PM
#30
"Under penalties of perjury, I declare that I have examined this return, includ1ng accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete."
And the tax form is pretty explicit per my post above, showing a $1.4 million loss on "Aviation Magazine".
08-12-2016, 12:47 PM
#31
08-12-2016, 01:02 PM
#32
Sounds like a fair assessment to me . Now , I may not be any kinds of high finance or business guru here by any means , but even I have to ask shouldn't both sets of numbers , the internal reports and the Federal filings , be one and the same ? Would there ever be any legitimate reason other than an honest mistake , for them to be different ?
Last edited by RCKen; 08-16-2016 at 12:25 PM.
08-12-2016, 01:18 PM
#33
I have also heard it argued that the ad rates are indeed below market. And of course the ad sales costs (for the guy who sells the ads) are a whole other kettle of fish.
EDIT: Maybe the loss now is higher in this statement as the AMA had to allocate those staff costs to the magazine finally??
08-12-2016, 01:36 PM
#34
Over the years others have attempted to calculate the true cost of the magazine, I vaguely remember there are AMA staff that work on the magazine (in whole or part time) and their costs are not allocated to the magazine in these financial statements.
I have also heard it argued that the ad rates are indeed below market. And of course the ad sales costs (for the guy who sells the ads) are a whole other kettle of fish.
EDIT: Maybe the loss now is higher in this statement as the AMA had to allocate those staff costs to the magazine finally??
I have also heard it argued that the ad rates are indeed below market. And of course the ad sales costs (for the guy who sells the ads) are a whole other kettle of fish.
EDIT: Maybe the loss now is higher in this statement as the AMA had to allocate those staff costs to the magazine finally??
I don't know. What they tell us about the audit will be interesting. I wonder if audit results are available from the IRS? As a 501c3 the forms themselves are public information, not sure why an audit of that public information wouldn't be public information.
08-12-2016, 01:41 PM
#35
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Only the actual employee staff, all of who are managed by Dave M. are paid.
08-12-2016, 01:50 PM
#36
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Ok. But I'm not mixing data from internal reports with information filed with the Feds. I'm sticking with the document filed under the following:
"Under penalties of perjury, I declare that I have examined this return, includ1ng accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete."
And the tax form is pretty explicit per my post above, showing a $1.4 million loss on "Aviation Magazine".
"Under penalties of perjury, I declare that I have examined this return, includ1ng accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete."
And the tax form is pretty explicit per my post above, showing a $1.4 million loss on "Aviation Magazine".
08-12-2016, 02:14 PM
#38
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Total compensation is indeed a valid measure. And the AMA's ED's total compensation ($138K) is more than the median ($131K) for similarly sized 501c3 organizations ( $3.5M < expenses < $13.5M) in the Midwest, per "Charity Navigator" study.
http://www.charitynavigator.org/inde...ay=studies.ceo
http://www.charitynavigator.org/inde...ay=studies.ceo
08-12-2016, 02:16 PM
#39
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Mike
08-12-2016, 02:21 PM
#41
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I never cease to be amazed at people who are surprised to discover that the ENTIRE Executive Council, meaning ALL the District VPs, the President, Vice President, etc. are ALL elected volunteers who get no money!
Only the actual employee staff, all of who are managed by Dave M. are paid.
Only the actual employee staff, all of who are managed by Dave M. are paid.
08-12-2016, 02:23 PM
#43
08-12-2016, 02:45 PM
#44
I never cease to be amazed at people who are surprised to discover that the ENTIRE Executive Council, meaning ALL the District VPs, the President, Vice President, etc. are ALL elected volunteers who get no money!
Only the actual employee staff, all of who are managed by Dave M. are paid.
Only the actual employee staff, all of who are managed by Dave M. are paid.
Salaries and benefits : $2,340,146 (22% of all revenue)
Travel : $100,886
Conferences : $265,165 vs. $32,000)
Magazine loss : $1,444,639
Office expenses : $164,770
Marketing : $363,920
Scholarships : $32,000 ( a 24% drop from last year)
Also it appears their investments (where they lost $600K) included "Financial derivatives"
08-12-2016, 02:47 PM
#45
08-12-2016, 03:55 PM
#46
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Well, 22.3% of the revenue just goes to pay salaries and expenses. Here's some things I found interesting:
Salaries and benefits : $2,340,146 (22% of all revenue)
Travel : $100,886
Conferences : $265,165 vs. $32,000)
Magazine loss : $1,444,639
Office expenses : $164,770
Marketing : $363,920
Scholarships : $32,000 ( a 24% drop from last year)
Also it appears their investments (where they lost $600K) included "Financial derivatives"
Salaries and benefits : $2,340,146 (22% of all revenue)
Travel : $100,886
Conferences : $265,165 vs. $32,000)
Magazine loss : $1,444,639
Office expenses : $164,770
Marketing : $363,920
Scholarships : $32,000 ( a 24% drop from last year)
Also it appears their investments (where they lost $600K) included "Financial derivatives"
08-12-2016, 04:14 PM
#49
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Over the years others have attempted to calculate the true cost of the magazine, I vaguely remember there are AMA staff that work on the magazine (in whole or part time) and their costs are not allocated to the magazine in these financial statements.
I have also heard it argued that the ad rates are indeed below market. And of course the ad sales costs (for the guy who sells the ads) are a whole other kettle of fish.
EDIT: Maybe the loss now is higher in this statement as the AMA had to allocate those staff costs to the magazine finally??
I have also heard it argued that the ad rates are indeed below market. And of course the ad sales costs (for the guy who sells the ads) are a whole other kettle of fish.
EDIT: Maybe the loss now is higher in this statement as the AMA had to allocate those staff costs to the magazine finally??
Mike
08-12-2016, 04:18 PM
#50
What I know is that I asked for it earlier this year. Since the FY aligns with CY, it would have been the 2014 info, which should have been filed months before that. Never received it.
So sent formal request to IRS. Some time later I got a copy on paper from IRS. Now it's available online from the various places that get and post them. Did it get filed late? Don't know.
So whether or not you consider that to be "available" is up to you.
So sent formal request to IRS. Some time later I got a copy on paper from IRS. Now it's available online from the various places that get and post them. Did it get filed late? Don't know.
So whether or not you consider that to be "available" is up to you.