American Foundation for the Blind, Inc. and AFB Special Fund, Inc. Consolidated Statements of Financial Position

For the years ended JUNE 30, 2020 and 2019 (amounts expressed in thousands)

2020

2019

Assets

    

Current Assets

Cash and cash equivalents

$946

$1,502

Accounts receivable, net

221

173

Pledges and grants receivable, net

251

164

Other receivables

93

60

Prepaid expenses and other assets

118

214

Total Current Assets

1,629

2,113
 

Noncurrent Assets

Long term pledge receivables

843

886

Investments, at fair value

18,269

20,703

Property and equipment, net

42

62

Total Noncurrent Assets

19,154

21,651

Total Assets

$20,783

$23,764

Liabilities and Net Assets

2020

2019

Current Liabilities

Accounts payable and accrued expenses

$667

$832

Deferred revenue

192

74

Total Current Liabilities

859

906

Noncurrent Liabilities

Deferred rent obligation

38

115

Accrued postretirement benefit liability

131

139

Total Noncurrent Liabilities

169

254

Net Assets

Without donor restrictions

10,833

12,748

With donor restrictions

8,922

9,856

Total Net Assets

19,755

22,604

Total Liabilities and Net Assets

$20,783

$23,764

American Foundation for the Blind, Inc. and AFB Special Fund, Inc. (AFBSF) Consolidated Statements of Activities and Changes in Net Assets

For the years ended June 30, 2020 and 2019 (amounts expressed in thousands)

Without Donor Restrictions With Donor Restrictions Eliminating Entries 2020 2019
AFB AFBSF AFB AFBSF
Revenues, Gains,
and Other Support
Public Support


Direct public support

 $2,205 — $461 — — $2,666 $1,983

Legacies and bequests

1,021

—

1

—

—

1,022

1,931

Grants from government agencies

792

—

153

—

—

945

163

Contributed services, media time

3,220

—

—

—

—

3,220

2,048

Total Public Support

7,238

—

615

—

 —

7,853

6,125

Other Revenue

Sales

712

—

58

—

—

770

860

Investment activity

567

284

211

—

—

1,062

982

Royalty and other income

421

—

1

—

(400)

22

7

Miscellaneous revenue

38

—

—

—

—

38

596

Total Other Revenue

1,738

284

270

—

(400)

1,892

2,445

Net Assets Released from Restrictions

1,819

—

(1,819)

—

—

—

—

TOTAL REVENUES, GAINS, AND OTHER SUPPORT

$10,795

$284

$(934)

—

$(400)

$9,745

$8,570

Expenses

Program Services

Knowledge building and information dissemination

$4,080

$400

—

—

$(400)

$4,080

$4,130

Technology solutions

2,556

—

—

—

—

2,556

2,140

Advocacy and public policy

1,737

—

—

—

—

1,737

1,569

Total Program Services

8,373

400

—

—

(400)

8,373

7,839

Supporting Services

Management and general

2,047

18

—

—

—

2,065

1,787

Fundraising

2,138

—

—

—

—

2,138

1,961

Cost of direct benefits to donors

3

—

—

—

—

3

49

Total Supporting Services

4,188

18

—

—

—

4,206

3,797

TOTAL EXPENSES

$12,561

$418

—

—

$(400)

$12,579

$11,636

Net Assets

Change in net assets before postretirement-related changes

$(1,766)

$(134)

$(934)

—

—

$(2,849)

$(3,093)

Postretirement-related changes other than net periodic costs

(15)

—

—

—

—

(15)

(27)

Change in Net Assets

(1,781)

$(134)

$(934)

—

—

$(2,849)

$(3,093)

Net Assets, Beginning of the Year

11,818

930

9,829

27

—

22,604

25,697

NET ASSETS, END OF YEAR

10,037

796

8,895

27

—

$19,755

$22,604