Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $1,950

• 1e · Government grants (contributions)

  $708,029

• 1f · All other contributions, gifts and grants

  $212,225

• 2a · Program service revenue: APPLICATION FEES

  total $13,833,258 · related or exempt $13,833,258

• 2b · Program service revenue: MEMBERSHIP DUES

  total $2,136,127 · related or exempt $2,136,127

• 2c · Program service revenue: MEMBER SERVICES

  total $1,399,085 · related or exempt $1,399,085

• 2d · Program service revenue: ANNUAL MEETING

  total $956,275 · related or exempt $956,275

• 2e · Program service revenue: OTHER PROGRAM INCOME

  total $12,277 · related or exempt $12,277

• 3 · Investment income

  total $930,283 · excluded $930,283

• 5 · Royalties

  total $21,685 · excluded $21,685

• 7a · Gross sales of assets other than inventory

  securities $4,730,745

• 7b · Less cost or other basis and sales expenses

  securities $5,028,476

• 7c · Gain or loss

  securities -$297,731

• 7d · Net gain or loss

  total -$297,731 · excluded -$297,731

• 8a · Fundraising events: gross income

  $11,131

• 8a · Fundraising events: contributions included on line 1c

  $1,950

• 8b · Fundraising events: direct expenses

  $765

• 8c · Net income from fundraising events

  total $10,366 · excluded $10,366

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $7,306 · excluded $7,306

• 11e · Other revenue, total

  $7,306

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $143,964 · program services $143,964

• 2 · Grants to domestic individuals

  total $40,050 · program services $40,050

• 5 · Compensation of officers, directors and key employees

  total $1,910,513 · program services $1,135,312 · management and general $775,201

• 7 · Other salaries and wages

  total $3,717,466 · program services $3,037,772 · management and general $679,694

• 8 · Pension plan contributions

  total $320,645 · program services $230,919 · management and general $89,726

• 9 · Other employee benefits

  total $328,856 · program services $224,626 · management and general $104,230

• 10 · Payroll taxes

  total $356,662 · program services $261,828 · management and general $94,834

• 11b · Fees: legal

  total $28,783 · program services $21,769 · management and general $7,014

• 11c · Fees: accounting

  total $43,666 · management and general $43,666

• 11d · Fees: lobbying

  total $223,962 · program services $223,962

• 11f · Fees: investment management

  total $229,291 · management and general $229,291

• 11g · Fees: other

  total $5,942,507 · program services $5,465,954 · management and general $476,553

• 12 · Advertising and promotion

  total $75,608 · program services $75,149 · management and general $459

• 13 · Office expenses

  total $349,361 · program services $338,293 · management and general $11,068

• 14 · Information technology

  total $406,122 · program services $350,854 · management and general $55,268

• 16 · Occupancy

  total $465,113 · program services $342,017 · management and general $123,096

• 17 · Travel

  total $257,943 · program services $193,762 · management and general $64,181

• 19 · Conferences, conventions and meetings

  total $1,010,138 · program services $977,483 · management and general $32,655

• 20 · Interest

  total $239 · management and general $239

• 22 · Depreciation, depletion and amortization

  total $182,265 · program services $134,399 · management and general $47,866

• 23 · Insurance

  total $60,295 · program services $34,630 · management and general $25,665

• 24a · Other expenses: DUES & SUBSCRIPTIONS

  total $140,187 · program services $133,196 · management and general $6,991

• 24b · Other expenses: TEMPORARY SERVICES

  total $21,536 · program services $21,536

• 24e · All other expenses

  total $93,445 · program services $30,731 · management and general $62,714

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $866,320 · end of year $959,206

• 2 · Savings and temporary cash investments

  beginning of year $77,825 · end of year $78,056

• 4 · Accounts receivable

  beginning of year $212,664 · end of year $161,029

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,067,999 · end of year $1,175,771

• 10a · Land, buildings and equipment: cost or other basis

  $1,847,859

• 10b · Land, buildings and equipment: accumulated depreciation

  $1,387,710

• 10c · Land, buildings and equipment, net

  beginning of year $631,529 · end of year $460,149

• 11 · Investments: publicly traded securities

  beginning of year $32,598,238 · end of year $34,765,991

• 12 · Investments: other securities

  end of year $4,541,981

• 15 · Other assets

  beginning of year $854,578 · end of year $2,923,487

• 17 · Accounts payable and accrued expenses

  beginning of year $1,688,078 · end of year $1,738,306

• 19 · Deferred revenue

  beginning of year $1,738,605 · end of year $2,078,872

• 25 · Other liabilities

  beginning of year $1,801,562 · end of year $3,668,857

• 27 · Net assets without donor restrictions

  beginning of year $31,002,318 · end of year $37,495,209

• 28 · Net assets with donor restrictions

  beginning of year $78,590 · end of year $84,426

The filer's explanations (Part III)

PART I, LINE 1A

AACOM ALLOWS ITS PRESIDENT/CEO TO TAKE FIRST CLASS FOR FLIGHTS OVER 3 HOURS. AACOM GROSSED UP THE TAXES ON THE $50 HOLIDAY GIFT CARDS WHICH WERE PROVIDED TO ALL STAFF IN DECEMBER 2022.

PART I, LINE 7

AACOM MAINTAINS AN ANNUAL PERFORMANCE-BASED BONUS PROGRAM FOR ELIGIBLE EMPLOYEES. THE BONUS PROGRAM IS SUBJECT TO APPROVAL BY THE PRESIDENT AND CEO BASED ON AACOM'S FINANCIAL PERFORMANCE OF THE YEAR. PERFORMANCE-BASED BONUS FOR THE PRESIDENT/CEO IS SUBJECT TO APPROVAL BY THE CHAIR OF THE BOARD OF DEANS.