2020-2021 Financial Statements

Statement of Financial Position
Year Ended June 30, 2021
Current Assets
Cash and Cash Equivalents	$584,000
Accounts Receivable (Net)	$290,000
Inventory at Cost	$92,000
Prepaid Expenses & Other Current Assets	$20,000
Total	$986,000

Other Assets
Denver Foundation Endowment Fund (Net)	$142,000
Other Assets	$16,000
Right-of-Use-Asset	$53,000
Total	$211,000

Total Assets	$1,197,000

Current Liabilities
Accounts Payable	$18,000
Accrued Vacation and Sick Pay	$29,000
Royalties and Commissions	$87,000
Unearned Income	$156,000
Notes Payable, Current Maturities	$0
Lease Liability, Current Portion	$0
Total Current Liabilities	$290,000

Other Liabilities
Notes Payable, Net of Current Maturities	$252,000
Lease Liability, Net of Current Portion	$53,000
Total Other Liabilities	$305,000

Total Liabilities	$595,000

Net Assets—Without Donor Restrictions	$602,000

Total Liabilities and Net Assets	$1,197,000

Statement of Activities
Year Ended June 30, 2021
Revenues
Net Book Sales	$953,000
Other Publishing Income	$16,000
Member Dues	$293,000
Government Grant (PPP)	$7,000
Donations, Interest, and Other Income	$127,000
Total Revenues	$1,396,000

Cost of Sales
Cost of Books Sold	$151,000
Title Subsidies	($48,000)
Inventory Write-Off	$56,000
Royalties and Commissions	$81,000
Total Cost of Sales	$240,000

Gross Margin	$1,156,000

Expenses
Editorial Expense	$400,000
Production Expense	$114,000
Marketing Expense	$88,000
Fulfillment Expense	$152,000
General and Administrative Expense	$215,000
Total Expenses	$969,000

Total Increase (Decrease) in Net Assets	$187,000

Net Assets, Beginning of Year	$410,000

Net Assets, End of Year	$602,000