NFPA Journal - May/June 2019 - 108

Treasurer's Report 2018

In accordance with
general responsibilities, the
following NFPA Treasurer's
Annual Report is issued to
Association members.
In 2018, publication revenues were
lower than the previous year, mainly
due to the cyclicality of NFPA's threeyear code cycle. Membership numbers
continued to have downward pressure
and ended the year at approximately
46,000. The new tiered membership
offer launched in early 2018 did partially offset the decline in revenue
earned. Training revenues were ahead
of the prior year. Total revenues ended
up slightly lower than the prior year.
Total expenses for the Association
were similar to the prior year. In line
with expectations, NFPA incurred a
small operating deficit. The investment
portfolio suffered from the market
decline in the fourth quarter of 2018,
and lower asset values in the Pension
Fund resulted in an adverse pension
liability adjustment. The Association
experienced a decrease in net assets
of approximately $19 million. Overall,
however, NFPA remains in a very sound
financial position.

Publications

64%

FROM ROGER MONTEMBEAULT,
TREASURER

$'000s

$'000s

2018

2017

Statements of Financial Position
Assets
Cash and cash equivalents
Inventory, accounts receivable, and other assets
Investments
Real estate investments, property, and equipment
Total assets

13,707
26,049
243,495
51,144
334,395

16,432
25,298
255,620
51,788
349,138

Liabilities and net assets
Accounts payable and accrued expenses
Pension liability
Deferred revenues
Total liabilities
Total net assets
Total liabilities and net assets

11,289
26,029
13,030
50,348
284,047
334,395

11,717
20,990
12,836
45,543
303,595
349,138

Statements of Activities
Revenue
Publications
Membership
Training and Other
Total revenue
Expenses
Operating (deficit)/surplus
Real estate investments surplus
Pension liability adjustment
Investment return
Change in net assets
Net assets as of beginning of year
Net assets as of end of year

51,705
13,384
15,973
81,062
(83,544)
(2,482)
320
(5,057)
(12,329)
(19,548)
303,595
284,047

59,224
12,723
13,983
85,930
(83,813)
2,117
189
(1,043)
30,720
31,983
271,612
303,595

6,635
(9,360)
(2,725)
16,432
13,707

(2,051)
(10,374)
(12,425)
28,857
16,432

Statements of Cash Flows
Cash flows from operating activities
Cash flows from investing activities
Net decrease in cash and cash equivalents
Cash and cash equivalents as of beginning of year
Cash and cash equivalents as of end of year

Membership

16%

Training

16%

2018 u
REVENUE

Contracts

3%

Other

1%

108 | NFPA JOURNAL * M A Y / J U N E 2 0 1 9



NFPA Journal - May/June 2019

Table of Contents for the Digital Edition of NFPA Journal - May/June 2019

Contents
NFPA Journal - May/June 2019 - Cover1
NFPA Journal - May/June 2019 - Cover2
NFPA Journal - May/June 2019 - 1
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NFPA Journal - May/June 2019 - 5
NFPA Journal - May/June 2019 - Contents
NFPA Journal - May/June 2019 - 7
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NFPA Journal - May/June 2019 - 144
NFPA Journal - May/June 2019 - Cover3
NFPA Journal - May/June 2019 - Cover4
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