For the year ending December 31, 2023
Combined Statement of Financial Position
| Assets | |
|---|---|
| Current Assets | $3,955,391 |
| Property & Equipment, Net | $98,577 |
| Other Assets | $521,571 |
| Total Assets | $4,575,539 |
| Liabilities and Net Assets | |
|---|---|
| Total Liabilities | $1,978,739 |
| Net Assets | $2,596,800 |
| Total Liabilities and Net Assets | $4,575,539 |
The firm of Martin Hood LLC, Independent Public Accountants, audited the financial statements of AOCS for the fiscal year ending December 31, 2023. They reported that the combined financial statements present fairly, in all material respects, the financial position of the American Oil Chemists’ Society and Foundation as of December 31, 2023, and the changes in our net assets and cash flow for the year ended in conformity with accounting principles generally accepted in the United States of America.
Combined Statement of Activities
| Support and Revenue | |
|---|---|
| Publications | $855,472 |
| Education & Meetings | $1,080,245 |
| Technical Services | $2,160,972 |
| Membership | $857,384 |
| Contributions | $15,050 |
| Investment Income | $283,423 |
| Other | $275,035 |
| Total Support and Other | $5,527,581 |
| Expenses | |
|---|---|
| Publications | $555,368 |
| Education & Meetings | $936,039 |
| Technical Services | $1,426,002 |
| Membership | $663,791 |
| Supporting Services | $2,129,466 |
| Fundraising | $15,536 |
| Total Expenses | $5,726,202 |
| Increase (Decrease) in Net Assets | ($198,621) |
|---|
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