Resent-Message-Id: <IhaXvb600WB8E1dk5v@andrew.cmu.edu>
Resent-Date: Wed, 30 Mar 1994 22:09:27 -0500 (EST)
Resent-From: David Schroeder <ds4p+@andrew.cmu.edu>
Resent-To: antir@kwantlen.bc.ca, sca-west@ecst.csuchico.edu,
        carolingia@bloom-beacon.mit.edu, e5@uriacc.uri.edu
Date: 30 Mar 1994 21:28-EST
From: Monica.Cellio@NL.CS.CMU.EDU
Subject: some financial data
To: sca-reform@MIT.EDU
Message-Id: <765080895/mjc@NL.CS.CMU.EDU>

Greetings from Ellisif!

Today my agent visited the corporate office and obtained a small amount
of data.  What follows is a summary prepared by the SCA's accounting firm;
the report is dated March 27 of this year and contains year-end figures
for 1992 and 1993.  I have checked all figures against the copy I received
but have not verified the math.

Following are the cover letter, 3 sets of figures, and explanatory notes.


<Ashby & Sullivan letterhead>

March 27, 1994

Board of Directors
Society For Creative Anachronism, Inc.

We have compiled the accompanying statement of assets, liabilities, and fund 
balance - modified accrual basis of Society For Creative Anachronism, Inc. - 
corporate office as of December 31, 1993 and 1992 and the related statements
of revenues, expenses and changes in fund balance, statement of cash flows -
modified accrual basis, for the years then ended, in accordance with 
Statements on Standards for Accounting and Review Services issued by the 
American Institute of Certified Public Accountants.  The financial statements
have been prepared on the modified accrual basis of accounting, which is a
comprehensive basis of accounting other than generally accepted accounting 
principles.

A compilation is limited to presenting in the form of financial statements
information that is the representation of management.  We have not audited 
or reviewed the accompanying financial statements and, accordingly, do not 
express an opinion or any other form of assurance on them.

Management has elected to omit substantially all of the disclosures required
by generally accepted accounting principles.  If the omitted disclosures 
were included in the financial statements, they might influence the user's
conclusions about the company's financial position, results of operations,
and cash flows.  Accordingly, these financial statements are not designed 
for those who are not informed about such matters.

(signed)
Ashby & Sullivan
San Jose, California
March 27, 1994


====================================================================

Society for Creative Anachronism, Inc
Corporate Office
Statement of Assets, Liabilities, and Fund Balance
modified accrual basis
December 31, 1993 and 1992

Assets					1993		1992

Cash & cash equivalents			218,487		179,177
Other receivables			  3,606		    524
Inventory				 72,002		 43,013
Property & equipment, net of 
  depreciation				 18,962		 18,150
					-------		-------

Total Assets				313,057		240,864


Liabilities & Fund balance

Accounts payable			    430		    307
Deferred subscriptions			201,945		147,455
					-------		-------
					202,375		147,762

Fund balance				110,682		 93,102

Total liabilities & fund balance	313,057		240,864


====================================================================

Society for Creative Anachronism, Inc
Corporate Office
Statement of Cash Flows
modified accrual basis
for the years ended December 31, 1993 and 1992


					1993		1992
Cash flows from operating activities:
Cash rec. from Registry activities	593,469		544,876
Cash rec. from Stock Clerk sales	106,817		111,103
Cash paid to vendors & employees       (675,174)       (626,401)
Investment income received		  4,228		  5,933
Cash rec. from Advertising & other
  miscellaneous activities		 20,683		 13,785
					-------		-------
Net cash provided by operating
  activities				 50,023		 49,296


Cash flows from investing activities:
Purchase of property & equipment	(10,713)	(15,696)
					--------	--------
Net increase in cash & cash equiv.	 39,310		 33,600
Cash & cash eqiv., beginning of year	179,177		145,577
					-------		-------
Cash & cash equiv., end of year		218,487		179,177


Reconciliation of net income to net cash
  provided by operating activities:
Net income				 17,580		 53,891
Adj. to reconcile net income to net cash
  provided by operating activities:
    Increase in other receivables	 (3,082)	  8,362
    Increase in inventory		(28,989)	(12,949)
    Depreciation			  9,901		  7,807
    Increase in accounts payable	    123		     45
    Increase in subscription liability	 54,490		 (7,860)
					-------		--------
Net cash provided by op. activities	 50,023		 49,296


====================================================================

Society for Creative Anachronism, Inc
Corporate Office
Statement of Revenues, Expenses and Changes in Fund Balance
modified accrual basis
for the years ended December 31, 1993 and 1992


					1993		1992
Revenues
  Registry income			538,979		552,736
  Stock clerk sales			106,817		111,103
  Investment income			  4,228		  5,933
  Other income				 12,099		  4,106
  Advertising				  8,584		  9,679
					-------		-------
Total revenue				670,707		683,557

Expenses
  Cost of publications			265,480		271,989
  Salaries & payroll expenses		108,766		105,343
  Registry office expenses		117,242		 97,059
  Stock clerk expenses			 52,296		 65,759
  Insurance				 37,405		 37,635
  Officers' & directors' expenses	 33,060		 23,445
  Travel				 28,977		 20,629
  Depreciation				  9,901		  7,807
					-------		-------
Total expenses				653,127		629,666

Excess revenues over expenses		 17,580		 53,891
Fund balance beginning of year		 93,102		 39,211
					-------		-------
Fund balance end of year		110,682		93,102


====================================================================

Society for Creative Anachronism, Inc
Corporate Office
Selected information - Substantially all disclosures required by
  generally accepted accounting principles are not included
December 31, 1993

1. Accounting method - The corporate office uses the modified accrual basis 
   of accounting.  Under this method certain items are recorded when incurred
   and other items are recorded when paid.

2. Cash & Cash equivalents - Includes operating accounts of the registry and
   officers plus interest bearing investment accounts.

3. Other receivables - Includes miscellaneous receivables and certain 
   prepaid items.

4. Inventory - Consists of books, materials, journals and other items held
   for sale, valued at cost.

5. Property & equipment - Office furniture and equipment used by the Registry
   office, corporate officers and Board members, stated at cost, net of 
   accumulated depreciation.

6. Deferred subscriptions - Represents the costs of subscriptions that have
   been received from members but not yet earned.

7. Registry income - Consists of membership dues, donations and subscriptions
   to regional newsletters and national periodicals.

8. Stock clerk sales and expenses - Sales consists of publications and 
   materials sold.  Stock clerk expenses include the cost of items sold as 
   well as operating expenses of the Stock Clerk's office.

9. Cost of publications - Represents the cost of printing and postage for 
   TI & Compleat Anachronist as well as the stipends paid to kingdom
   newsletters.

10.Depreciation - Is calculated using the accelerated cost recovery system
   (ACRS) for assets acquired from 1982 through 1986 and the modified 
   accelerated cost recovery system (MACRS) for assets acquired after 1986.