SAE Annual Report 2011 - 22

The Financial Message
To all SAE International Members: We are pleased to present the SAE 201 audited 1 financial statements for your information and review. The accompanying reports are: the Independent Auditor’s Report, Statements of Financial Position, Statements of Activities and Changes in Net Assets, Statements of Cash Flows, and Notes to Financial Statements. The SAE Foundation is an unincorporated affiliate of SAE and, accordingly, is included in the accompanying financials. The actual accounts of SAE and the SAE Foundation are maintained separately and the respective funds are not comingled. The Statements of Financial Position reflect total assets of $67.6 million at the end of 201 virtually 1, unchanged from the prior year. The Statements of Financial Position show SAE is financially sound and well positioned to provide strong support for member service activities in the future and realization of Vision 2020. In 201 the Statements of Activities and Changes 1, in Net Assets reflect SAE operating revenues of $55.3 million and a net gain from operations of $3.1 million. Operating revenue and net margin both exceeded SAE’s Financial Management Policy targets. Substantial revenue growth resulted from increased sales and marketing efforts, continued focus on new products and global expansion, and improvements in economic conditions. In non-operating activities, SAE invested $1.4 million in new business development activities, also known as strategic investment projects. These projects are supported by the General Investment Fund which finished with a net decrease of $1.4 million, due primarily to decreases in the market value of long-term investments. Strategic investment projects, when combined with long-term investment decreases, a non-cash pension adjustment of $10.5 million, and other miscellaneous items, resulted in a total nonoperating loss of $13.1 million. Although SAE posted record operating results during 201 net assets decreased $9.9 million 1, during 201 as a result of the non-operating 1 losses noted above. The decrease in net assets for the year of $9.9 million, when combined with net assets at the beginning of the year of $36.1 million, resulted in $26.2 million of net assets at year-end.

Ronald G. Rath Treasurer 22

Robert Ireland Assistant Treasurer



SAE Annual Report 2011

Table of Contents for the Digital Edition of SAE Annual Report 2011

SAE Annual Report 2011
Contents
Executive Message
Sectors – Aerospace, Automotive and Commercial Vehicle
Membership
Aerospace Standards
Ground Vehicle Standards
Publishing
Magazines and Books
Engineering Events and Meetings
Pre-professional Education
SAE Foundation
Professional Development
Performance Review Institute
Financial Information
Board of Directors
Affiliates and Sections
International Business Partners
SAE Annual Report 2011 - SAE Annual Report 2011
SAE Annual Report 2011 - Cover2
SAE Annual Report 2011 - Contents
SAE Annual Report 2011 - Executive Message
SAE Annual Report 2011 - 3
SAE Annual Report 2011 - Sectors – Aerospace, Automotive and Commercial Vehicle
SAE Annual Report 2011 - 5
SAE Annual Report 2011 - 6
SAE Annual Report 2011 - 7
SAE Annual Report 2011 - Membership
SAE Annual Report 2011 - 9
SAE Annual Report 2011 - Aerospace Standards
SAE Annual Report 2011 - Ground Vehicle Standards
SAE Annual Report 2011 - Publishing
SAE Annual Report 2011 - Magazines and Books
SAE Annual Report 2011 - 14
SAE Annual Report 2011 - Engineering Events and Meetings
SAE Annual Report 2011 - Pre-professional Education
SAE Annual Report 2011 - SAE Foundation
SAE Annual Report 2011 - 18
SAE Annual Report 2011 - Professional Development
SAE Annual Report 2011 - Performance Review Institute
SAE Annual Report 2011 - Financial Information
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SAE Annual Report 2011 - Board of Directors
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SAE Annual Report 2011 - Affiliates and Sections
SAE Annual Report 2011 - International Business Partners
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