SAE Foundation Annual Report 2015 - 25

Tel: 412-281-2501
Independent Auditor's
Report
Fax: 412-471-1996

www.bdo.com
To the Board of Directors
SAE International
Warrendale, Pennsylvania
Tel: 412-281-2501
Fax: 412-471-1996

www.bdo.com

339 Sixth Avenue, 8th Floor
Pittsburgh, PA 15222

339 Sixth Avenue, 8th Floor
Pittsburgh, PA 15222

339 Sixth Avenue, 8th Floor
Independent
Auditor's Report
We have audited the accompanying financial statements of SAE Foundation (the Foundation) (a division of SAE
Pittsburgh, PA 15222

To the Board of Directors
SAE International
Warrendale, Pennsylvania

International, a nonprofit organization), which comprise the statements of financial position as of December 31,
2015 and 2014, and the related statements of activities and changes in net assets, and cash flows for the years
then ended, and the related notes to the financial statements.
Management's Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in

accordance
with accounting
principles of
generally
accepted in the(the
UnitedFoundation)
States of America;
We have audited the accompanying
financial
statements
SAE Foundation
(a this includes the
design,
implementation,
and
maintenance
of
internal
control
relevant
to
the
preparation
and fair presentation of
division of SAE International, a nonprofit organization), which comprise the statements of
financial statements that are free from material misstatement, whether due to fraud or error.
financial position as of December 31, 2015 and 2014, and the related statements of activities
and changes in net assets, and cash flows for the years then ended, and the related notes to the
ementsstatements.
of SAE Foundation (the
Foundation)
(a
Auditor's
Responsibility
financial

ganization), which comprise the
statements of
Our responsibility is to express an opinion on these financial statements based on our audits. We conducted
2014,
and
the
related
statements
of
activities
ourfor
audits
in accordance
with
auditing standards generally accepted in the United States of America. Those
Management's
Responsibility
the
Financial
Statements
BDO USA, LLP, a Delaware limited
years
then
and the related
notes
to the
liability
partnership,
is theended,
U.S.
standards require that we plan and perform the audit to obtain reasonable assurance about whether the
member of BDO International

Limited, a UK company limited by
statements
are free from
material
Management
isthe responsible financial
for the
preparation
and
fairmisstatement.
presentation of these financial
guarantee, and forms part of
statements
in ofaccordance with accounting principles generally accepted in the United States of
international BDO network
independent member firms.
audit involves
performing procedures
audit evidence
the amounts
and disclosures in the
America;
this includes the Andesign,
implementation,
andto obtain
maintenance
of about
internal
control
financial statements. The procedures selected depend on the auditor's judgment, including the assessment of
BDO is the brand name for the
relevant
the
preparation ofand
fair financial
presentation of financial statements that are free from
BDO network
andto
forfair
each
of the
n and
presentation
these
the risks
of material misstatement of the financial statements, whether due to fraud or error. In making those
BDO Member Firms.
material
misstatement,
due to
fraudofor error.
es generally
acceptedwhether
in the United
States

tation, and maintenance of internal control

on of financial
statements that are free from
Auditor's
Responsibility

Inspiring Curiosity in STEM | 25



SAE Foundation Annual Report 2015

Table of Contents for the Digital Edition of SAE Foundation Annual Report 2015

SAE Foundation Annual Report 2015 - 1
SAE Foundation Annual Report 2015 - 2
SAE Foundation Annual Report 2015 - 3
SAE Foundation Annual Report 2015 - 4
SAE Foundation Annual Report 2015 - 5
SAE Foundation Annual Report 2015 - 6
SAE Foundation Annual Report 2015 - 7
SAE Foundation Annual Report 2015 - 8
SAE Foundation Annual Report 2015 - 9
SAE Foundation Annual Report 2015 - 10
SAE Foundation Annual Report 2015 - 11
SAE Foundation Annual Report 2015 - 12
SAE Foundation Annual Report 2015 - 13
SAE Foundation Annual Report 2015 - 14
SAE Foundation Annual Report 2015 - 15
SAE Foundation Annual Report 2015 - 16
SAE Foundation Annual Report 2015 - 17
SAE Foundation Annual Report 2015 - 18
SAE Foundation Annual Report 2015 - 19
SAE Foundation Annual Report 2015 - 20
SAE Foundation Annual Report 2015 - 21
SAE Foundation Annual Report 2015 - 22
SAE Foundation Annual Report 2015 - 23
SAE Foundation Annual Report 2015 - 24
SAE Foundation Annual Report 2015 - 25
SAE Foundation Annual Report 2015 - 26
SAE Foundation Annual Report 2015 - 27
SAE Foundation Annual Report 2015 - 28
SAE Foundation Annual Report 2015 - 29
SAE Foundation Annual Report 2015 - 30
SAE Foundation Annual Report 2015 - 31
SAE Foundation Annual Report 2015 - 32
SAE Foundation Annual Report 2015 - 33
SAE Foundation Annual Report 2015 - 34
SAE Foundation Annual Report 2015 - 35
SAE Foundation Annual Report 2015 - 36
SAE Foundation Annual Report 2015 - 37
SAE Foundation Annual Report 2015 - 38
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