SAE Annual Report 2011 - 36

SAE INTERNATIONAL
Notes to the Financial Statements Note 1 - Summary of Significant Accounting Policies A. Nature of Organization

SAE International (SAE) is a not-for-profit corporation originally organized in 1905 and incorporated in 1909 under the laws of New York and re-incorporated in 1986 under the laws of Pennsylvania. SAE is a technical society aimed at developing, collecting and disseminating, on a worldwide basis, the knowledge of mobility technologies in order to advance these fields and their practitioners in a manner which serves humanity. SAE Foundation (the Foundation) is an unincorporated division of SAE and, accordingly, is included in the accompanying financial statements. The Foundation was created to facilitate financial contributions from members and others to provide an additional source of income beyond those sources normally available to SAE for activities in support of SAE’s purpose, mission and goals. The Foundation operates under the direction of a Board of Trustees, which ultimately reports to the Board of Directors of SAE. Administrative support is provided by SAE. In September 2011, SAE Global, LLC (SAE Global), a Pennsylvania limited liability company, was organized. SAE is the sole member of SAE Global. The purpose of SAE Global is to engage in activities that further the purpose of SAE as an exempt organization in areas of the world other than the United States. At December 31, 2011, SAE Global was in the process of obtaining the appropriate business licenses to operate a Wholly Owned Foreign Subsidiary (WOFE) in the Republic of China. Final approval of the WOFE was obtained in January 2012. The WOFE will engage in and provide industrial technology consulting services, business and commercial consulting services, and marketing planning services. The costs associated with the start up of SAE Global are reflected in SAE's 2011 statement of activities. These costs are not material to the financial statements. The following affiliated organizations do not meet the criteria requiring consolidation with SAE. As such, the activities of each are not included in the accompanying financial statements: SAE Foundation Canada is organized as a separate entity under the laws of Canada. It was formed to manage the activities, missions and goals in support of SAE in Canada, which requires SAE Foundation Canada’s solicitation and receipt of specific funding from individuals, public or private corporations, foundations, or government agencies. SAE Foundation Canada operates under the direction of a Board of Directors.

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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
SAE Annual Report 2011 - Cover4
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