No Staff expense here except some staff travel related to advertising further diluting the adv. profit margin. Also the monthly columnists which ain't no big thing and they are NOT employees.


MA Direct Costs, 2003 AMA Audit report
Advertising costs
Commissions$ 127,803
Printing 434,510
Postage 209,427
771,740
Production costs
Printing 684,842
Art and photo 75 - -
Miscellaneous 3,189
688,106

Editorial costs
Articles, plans and pictures 36,890
Monthly columnist 34,035
Editorial drafting 3,431
74,356

Mailings
Postage and envelopes 348,695

Advertising expense
Telephone and Federal Express 2,368

Staff travel 9,853
Legal and miscellaneous administrative expense 5,523
17,744
$ 1,900,641