Doll News Spring 2021 - 146
FINANCIAL STATEMENT REVIEW
By Carol Cameron and Sheryl Sunderman
I
n the winter 2020 DOLL NEWS, the DOLL-ER$ and SENSE article showed how UFDC's finances had
performed over the last 10 years. If you didn't read it, you should give it a go - it's written as a Q&A with
pictures - feedback is that it was easy to understand. In this spring 2021 issue, the focus is on the last financial
year (2019-2020) and the results of the Financial Statement Review.
So, what are the key messages?
KEY MESSAGE ONE: THE REVIEW GAVE US A CLEAN BILL OF HEALTH
The Certified Public Accountants of RubinBrown LLP completed their review of the United Federation
of Doll Clubs, Inc. Financial Statements for the period September 1, 2019 through August 31, 2020 on
December 1, 2020.
Their review concluded that " Based on our reviews, we are not aware of any material modifications that should
be made to the accompanying financial statements in order for them to be in accordance with accounting principles
generally accepted in the United States of America. "
That's great news!
KEY MESSAGE TWO: WITH THE CANCELLATION OF THE 71st NATIONAL CONVENTION, 2019-2020
WAS NOT A NORMAL YEAR FOR UFDC FINANCIALLY, BUT, DESPITE EVERYTHING, IT TURNED
OUT OK WITH A NET SURPLUS OF $123K - IT COULD HAVE BEEN A LOT WORSE!!!
The National Convention is by far our biggest revenue stream and biggest expenditure. So, with the
cancellation of the Dallas convention, both our revenue and expenditure were a lot lower than normal.
Back in July, when Sheryl Sunderman, UFDC's Financial Officer, and I forecast the end year position, we
estimated we would end up with a deficit of around $30K. What we did not anticipate was a very large
donation of dolls to our museum, that, when evaluated, added $150K to the " Gifts and Donations " part of our
revenue. This very generous contribution turned our expected loss into a surplus of $123K.
Both the avoidance of a heavy convention cancellation penalty and the income from the July 2020 online event
helped the " Convention " revenues and expenses balance ($286K vs $282K). In total, the Non-Convention
elements produced a surplus, ($753K revenue vs $634K expenses), mostly due to the doll donation.
KEY MESSAGE THREE: OUR BALANCE SHEET LOOKS OK, BUT WE NEED TO MAKE SURE WE
HAVE SUFFICIENT CASH ON AN ONGOING BASIS
As of Aug 31, 2020, our Total Assets stood at $4.35mln. This is an increase of $0.15mln over the previous year,
which reflects the surplus from 2019-2020.
146
SPRING 2021
Doll News Spring 2021
Table of Contents for the Digital Edition of Doll News Spring 2021
No label
Doll News Spring 2021 - No label
Doll News Spring 2021 - Cover2
Doll News Spring 2021 - 1
Doll News Spring 2021 - 2
Doll News Spring 2021 - 3
Doll News Spring 2021 - 4
Doll News Spring 2021 - 5
Doll News Spring 2021 - 6
Doll News Spring 2021 - 7
Doll News Spring 2021 - 8
Doll News Spring 2021 - 9
Doll News Spring 2021 - 10
Doll News Spring 2021 - 11
Doll News Spring 2021 - 12
Doll News Spring 2021 - 13
Doll News Spring 2021 - 14
Doll News Spring 2021 - 15
Doll News Spring 2021 - 16
Doll News Spring 2021 - 17
Doll News Spring 2021 - 18
Doll News Spring 2021 - 19
Doll News Spring 2021 - 20
Doll News Spring 2021 - 21
Doll News Spring 2021 - 22
Doll News Spring 2021 - 23
Doll News Spring 2021 - 24
Doll News Spring 2021 - 25
Doll News Spring 2021 - 26
Doll News Spring 2021 - 27
Doll News Spring 2021 - 31
Doll News Spring 2021 - 28
Doll News Spring 2021 - 29
Doll News Spring 2021 - 30
Doll News Spring 2021 - 32
Doll News Spring 2021 - 33
Doll News Spring 2021 - 34
Doll News Spring 2021 - 35
Doll News Spring 2021 - 36
Doll News Spring 2021 - 37
Doll News Spring 2021 - 38
Doll News Spring 2021 - 39
Doll News Spring 2021 - 40
Doll News Spring 2021 - 41
Doll News Spring 2021 - 42
Doll News Spring 2021 - 43
Doll News Spring 2021 - 44
Doll News Spring 2021 - 45
Doll News Spring 2021 - 46
Doll News Spring 2021 - 47
Doll News Spring 2021 - 48
Doll News Spring 2021 - 49
Doll News Spring 2021 - 50
Doll News Spring 2021 - 51
Doll News Spring 2021 - 52
Doll News Spring 2021 - 53
Doll News Spring 2021 - 54
Doll News Spring 2021 - 55
Doll News Spring 2021 - 56
Doll News Spring 2021 - 57
Doll News Spring 2021 - 58
Doll News Spring 2021 - 59
Doll News Spring 2021 - 60
Doll News Spring 2021 - 61
Doll News Spring 2021 - 62
Doll News Spring 2021 - 63
Doll News Spring 2021 - 64
Doll News Spring 2021 - 65
Doll News Spring 2021 - 66
Doll News Spring 2021 - 67
Doll News Spring 2021 - 68
Doll News Spring 2021 - 69
Doll News Spring 2021 - 70
Doll News Spring 2021 - 71
Doll News Spring 2021 - 72
Doll News Spring 2021 - 73
Doll News Spring 2021 - 74
Doll News Spring 2021 - 75
Doll News Spring 2021 - 76
Doll News Spring 2021 - 77
Doll News Spring 2021 - 78
Doll News Spring 2021 - 79
Doll News Spring 2021 - 80
Doll News Spring 2021 - 81
Doll News Spring 2021 - 82
Doll News Spring 2021 - 83
Doll News Spring 2021 - 84
Doll News Spring 2021 - 85
Doll News Spring 2021 - 86
Doll News Spring 2021 - 87
Doll News Spring 2021 - 88
Doll News Spring 2021 - 89
Doll News Spring 2021 - 90
Doll News Spring 2021 - 91
Doll News Spring 2021 - 92
Doll News Spring 2021 - 93
Doll News Spring 2021 - 94
Doll News Spring 2021 - 95
Doll News Spring 2021 - 96
Doll News Spring 2021 - 97
Doll News Spring 2021 - 98
Doll News Spring 2021 - 99
Doll News Spring 2021 - 100
Doll News Spring 2021 - 101
Doll News Spring 2021 - 102
Doll News Spring 2021 - 103
Doll News Spring 2021 - 104
Doll News Spring 2021 - 105
Doll News Spring 2021 - 106
Doll News Spring 2021 - 107
Doll News Spring 2021 - 108
Doll News Spring 2021 - 109
Doll News Spring 2021 - 110
Doll News Spring 2021 - 111
Doll News Spring 2021 - 112
Doll News Spring 2021 - 113
Doll News Spring 2021 - 114
Doll News Spring 2021 - 115
Doll News Spring 2021 - 116
Doll News Spring 2021 - 117
Doll News Spring 2021 - 118
Doll News Spring 2021 - 119
Doll News Spring 2021 - 120
Doll News Spring 2021 - 121
Doll News Spring 2021 - 122
Doll News Spring 2021 - 123
Doll News Spring 2021 - 124
Doll News Spring 2021 - 125
Doll News Spring 2021 - 126
Doll News Spring 2021 - 127
Doll News Spring 2021 - 128
Doll News Spring 2021 - 129
Doll News Spring 2021 - 130
Doll News Spring 2021 - 131
Doll News Spring 2021 - 132
Doll News Spring 2021 - 133
Doll News Spring 2021 - 134
Doll News Spring 2021 - 135
Doll News Spring 2021 - 136
Doll News Spring 2021 - 137
Doll News Spring 2021 - 138
Doll News Spring 2021 - 139
Doll News Spring 2021 - 140
Doll News Spring 2021 - 141
Doll News Spring 2021 - 142
Doll News Spring 2021 - 143
Doll News Spring 2021 - 144
Doll News Spring 2021 - 145
Doll News Spring 2021 - 146
Doll News Spring 2021 - 147
Doll News Spring 2021 - 148
Doll News Spring 2021 - 149
Doll News Spring 2021 - 150
Doll News Spring 2021 - 151
Doll News Spring 2021 - 152
Doll News Spring 2021 - 153
Doll News Spring 2021 - 154
Doll News Spring 2021 - 155
Doll News Spring 2021 - 156
Doll News Spring 2021 - 157
Doll News Spring 2021 - 158
Doll News Spring 2021 - 159
Doll News Spring 2021 - 160
Doll News Spring 2021 - Cover3
Doll News Spring 2021 - Cover4
http://www.brightcopy.net/allen/doln/70-04
http://www.brightcopy.net/allen/doln/70-03
http://www.brightcopy.net/allen/doln/70-02
http://www.brightcopy.net/allen/doln/70-01
http://www.brightcopy.net/allen/doln/69-04
http://www.brightcopy.net/allen/doln/69-03
http://www.brightcopy.net/allen/doln/69-02
http://www.brightcopy.net/allen/doln/69-01
http://www.brightcopy.net/allen/doln/68-04
http://www.brightcopy.net/allen/doln/68-03
http://www.brightcopy.net/allen/doln/68-02
http://www.brightcopy.net/allen/doln/68-01
http://www.brightcopy.net/allen/doln/67-4
http://www.brightcopy.net/allen/doln/67-3
http://www.brightcopy.net/allen/doln/67-2
http://www.brightcopy.net/allen/doln/67-1
http://www.brightcopy.net/allen/doln/66-4
http://www.brightcopy.net/allen/doln/66-3
http://www.brightcopy.net/allen/doln/66-2
http://www.brightcopy.net/allen/doln/66-1
http://www.brightcopy.net/allen/doln/65-4
http://www.brightcopy.net/allen/doln/65-3
http://www.brightcopy.net/allen/doln/65-2
http://www.brightcopy.net/allen/doln/65-1
https://www.nxtbook.com/allen/doln/64-4
https://www.nxtbook.com/allen/doln/64-3
https://www.nxtbook.com/allen/doln/64-2
https://www.nxtbook.com/allen/doln/64-1
https://www.nxtbook.com/allen/doln/63-4
https://www.nxtbook.com/allen/doln/63-3
https://www.nxtbookmedia.com