NORTH AMERICAN DIE CASTING ASSOCIATION Finance … · estimated that NADCA will be revenue positive by 150-200K at the end of the year. V. Review of NADCA Balance Sheet August ‘13

NORTH AMERICAN DIE CASTING ASSOCIATION

NORTH AMERICAN DIE CASTING ASSOCIATION Finance Committee

September 23, 2014 3:30 pm –5:00 pm Wisconsin Center

Room 101C

Minutes

I. Call to Order ............................................................................... Mr. Harmon Andrew Behler .......................................... Blue Ridge Pressure Die Rob Black ...................................................................... Dy-Kast Leonard Cordaro ............................................. Premier Die Casting Patrick Greene .............................................. Cascade Die Casting Doug Harmon .............................................. Twin City Die Casting Bernard Jaeger ................................................... Shiloh Industries Alan Loeffelman ............................................. Production Castings Todd Olson .................................................. Twin City Die Casting Eric Treiber ................................................... Chicago White Metal Joseph Vitollo .................................................... ABCO Die Casters John Walker .................................................... Walker Die Casting Absent Robert Dathe ...................................................... A&B Die Casting William Hiegel ........................................ Custom Alloy Light Metals Robert Malarky .............................................. Chicago White Metal Robert Wilson .............................................. Callen Manufacturing Guests Tom Vann ..................................................................... Visi-Trak Staff Daniel Twarog .................................................................. NADCA

II. Approval of January 30, 2014 Minutes ........................................ Mr. Harmon

A. A motion was made and seconded to accept the minutes of the 1-30-14 meeting as written. The motion passed unanimously.

III. Review of Investments .............................................................. Mr. Verhulst

A. Mike Verhulst reviewed the NADCA portfolio of investments and provided a summary of the funds’ performance. They can be seen in attachment A.

IV. Review of August, 2014 Financial Statements ..............................Mr. Twarog

A. Mr. Twarog reviewed the August financial statements (Attachment B) and said that NADCA was ahead of revenue budgeted and on target with expenses. He

estimated that NADCA will be revenue positive by 150-200K at the end of the year.

V. Review of NADCA Balance Sheet August ‘13 Vs August ‘14 ......... Mr. Harmon

A. Mr. Harmon reviewed the comparative balance sheets between August 2013 and August 2014. He said that NADCA is up overall due to investment performance and that NADCA is collecting money for the 2015 booths.

VI. Review of 2015 Preliminary Budget .............................................Mr. Twarog

A. Twarog presented the preliminary budget for 2015 (Attachment C). He said NADCA’s plan of being revenue positive in the Exhibits year would be realized in 2015. The excess money made in 2015 should help offset typical losses seen in non-Exhibit years. Twarog also pointed out that the cost of running the Exhibit show will be lower in 2015 than 2012 because the deferred G&A (from 203 and 215) that was assessed in previous cycles will not be assessed prior to the 2015 Show.

B. A motion was made and seconded to recommend the proposed budget to the Board. The motion passed unanimously.

VII. Review of 2013 Annual Review ................................................... Mr. Harmon

A. Mr. Harmon reviewed the 2013 Annual Review (attachment D). He pointed out that the accountants found ‘the accountants were not aware of any material modifications that should be made to the financial statements for 2013 in order for them to conform with generally accepted accounting principles ...”

B. A motion was made and seconded to recommend that the Board accept the auditor’s findings for the 2013 financial statements. The motion passed unanimously.

VIII. Next Finance Committee Meeting ................................................ Mr. Harmon A. The next Finance Committee meeting will be at 1:00 pm before the Board

meeting on 2-21-2015 in Ft Meyers, Florida

IX. Adjournment ..............................................................................................

A. A motion was made and seconded to adjourn the meeting. The motion passed unanimously.

Written by: Daniel Twarog President NADCA Accepted by: Doug Harmon Secretary/Treasurer NADCA

47

$-

$200,000.00

$400,000.00

$600,000.00

$800,000.00

$1,000,000.00

$1,200,000.00

$1,400,000.00

$1,600,000.00 Churchill Management GroupPremier Wealth Strategy

Portfolio Value

Contributions

$1,051,370.00

$1,361,554.00

$1,240,000.00

$1,260,000.00

$1,280,000.00

$1,300,000.00

$1,320,000.00

$1,340,000.00

$1,360,000.00

$1,380,000.00

$1,400,000.00

$1,420,000.00

$1,440,000.00

Inception 02/28/14 03/31/14 04/30/14 05/31/14 06/30/14 07/31/14 08/31/14

F-SQUAREDPremium Alpha Sector Strategy

Portfolio Value

Contributions

$1,325,000.00

$1,417,793.00

48

$-

$500,000.00

$1,000,000.00

$1,500,000.00

$2,000,000.00

$2,500,000.00

$3,000,000.00

$3,500,000.00

$4,000,000.00 PIM - Equity

Portfolio Value

Contributions$1,751,629.00

$2,915,576.00

$-

$500,000.00

$1,000,000.00

$1,500,000.00

$2,000,000.00

$2,500,000.00

$3,000,000.00

$3,500,000.00

$4,000,000.00 PIM - Fixed Income

Portfolio Value

Contributions

$2,210,013.00

$2,384,047.00

49

$-

$100,000.00

$200,000.00

$300,000.00

$400,000.00

$500,000.00

$600,000.00

Inception 01/31/14 02/28/14 03/31/14 04/30/14 05/31/14 06/30/14 07/31/14 08/31/14

LainePIM - Balanced

Portfolio Value

Contributions

$512,000.00

$523,122.00

$258,000.00

$260,000.00

$262,000.00

$264,000.00

$266,000.00

$268,000.00

$270,000.00

$272,000.00

$274,000.00

Inception 12/31/13 01/31/14 02/28/14 03/31/14 04/30/14 05/31/14 06/30/14 07/31/14 08/31/14

MarketingPIM - Balanced

Portfolio Value

Contributions

$264,872.00

$270,774.00

50

$1,300,000.00

$1,310,000.00

$1,320,000.00

$1,330,000.00

$1,340,000.00

$1,350,000.00

$1,360,000.00

$1,370,000.00

$1,380,000.00

$1,390,000.00

$1,400,000.00

Inception 12/31/13 01/31/14 02/28/14 03/31/14 04/30/14 05/31/14 06/30/14 07/31/14 08/31/14

ResearchPIM - Balanced

Portfolio Value

Contributions

$1,332,806.00

$1,364,124.00

$-

$2,000,000.00

$4,000,000.00

$6,000,000.00

$8,000,000.00

$10,000,000.00

$12,000,000.00 NADCAConsolidated Portfolio

Portfolio Value

Contributions

$8,447,690.00

$10,241,175.00

51

North American Die Casting AssociationBalance Sheet

August 31, 2014

ASSETS

Current AssetsChase 840,110.35$

Wells Fargo Investment 8,082,154.43Accounts Receivable 322,721.49Refundable Deposit 51,611.67Other Receivables 17,885.31Deferred Expense-Exec Conf 4,000.00

Total Current Assets 9,318,483.25

Property and EquipmentFurniture and Fixtures 250,014.71Accum Depreciation-Funiture (232,201.97)

Total Property and Equipment 17,812.74

Other AssetsDeferred Exp-Congress & Expo 11,921.95R & D Investment Account 1,365,124.43Wells Fargo (Laine) 523,121.61Marketing Fund 270,773.77

Total Other Assets 2,170,941.76

Total Assets 11,507,237.75$

LIABILITIES AND CAPITAL

Current LiabilitiesAccounts Payable 8,290.00$ Accrued State Sales Tax 472.82Accrued 401(k) 40,000.00Deferred Revenue Corp Dues 493.75Deferred Revenue C&E 443,815.00

Total Current Liabilities 493,071.57

Long-Term LiabilitiesFund Balance-Unrestricted R&D 1,483,647.45Board Designated Membership 1,500,000.00Unrestricted David Laine 486,643.53Unrestricted Marketing Funds 517,911.12Temp Restricted-Marketing 207,991.00

Total Long-Term Liabilities 4,196,193.10

Total Liabilities 4,689,264.67

CapitalFund Balance 6,231,429.86Net Income 586,543.22

Total Capital 6,817,973.08

Total Liabilities & Capital 11,507,237.75$

9/12/2014 at 6:41 AM Unaudited - For Management Purposes Only

52

North American Die Casting AssociationStatement of Revenue and Expense

For the Eight Months Ending August 31, 2014

Current MonthActual

Year to DateActual

Year to DateBudget

Variance Annual Budget

RevenuesMembership 23,164.66 619,798.42 665,633.32 (45,834.90) 665,800.00Publications 6,454.52 28,400.85 30,766.68 (2,365.83) 44,900.00DCE Magazine 5,607.48 147,607.12 116,333.32 31,273.80 174,500.00Meetings and Conferences (3,500.00) 177,866.76 114,650.00 63,216.76 114,650.00Congress and Exposition 42,215.00 211,316.61 62,000.00 149,316.61 186,000.00Education 50,652.54 301,737.72 151,333.32 150,404.40 227,000.00DDC Management 0.00 0.00 0.00 0.00 0.00Rental Income 0.00 0.00 0.00 0.00 0.00Shipping Charges Received 144.56 3,559.00 5,666.68 (2,107.68) 8,500.00Contributions 0.00 0.00 0.00 0.00 0.00Interzinc Management 0.00 1,100.00 0.00 1,100.00 2,200.00Miscellaneous Income 7,189.78 29,865.12 0.00 29,865.12 0.00Marketing 0.00 2,100.00 10,000.00 (7,900.00) 10,000.00Research and Development 9,664.06 66,490.75 72,000.00 (5,509.25) 108,000.00

Total Revenues 141,592.60 1,589,842.35 1,228,383.32 361,459.03 1,541,550.00

ExpensesMembership 10,879.20 118,788.01 112,000.04 6,787.97 168,000.00DCE Magazine 4,137.08 68,505.55 54,666.68 13,838.87 82,000.00Meetings and Conferences 0.00 157,336.37 104,535.00 52,801.37 104,535.00Congress and Exposition 13,020.14 46,839.19 30,011.68 16,827.51 89,035.00Education 22,787.45 142,710.92 40,740.04 101,970.88 61,110.00Marketing 2,500.00 7,450.00 12,600.00 (5,150.00) 12,600.00Research and Development 1,269.75 93,531.08 92,200.00 1,331.08 138,300.00

Total Expenses 54,593.62 635,161.12 446,753.44 188,407.68 655,580.00

Net Revenue over Expense before G&A 86,998.98 954,681.23 781,629.88 173,051.35 885,970.00

Salaries 51,150.00 398,484.95 404,166.68 (5,681.73) 606,250.00Outside Services 1,316.56 25,235.72 48,500.00 (23,264.28) 72,750.00Intern Program 0.00 0.00 0.00 0.00 0.00Payroll Taxes 3,164.53 33,512.59 34,208.68 (696.09) 51,313.00Employee Benefits 3,652.85 41,004.81 30,813.66 10,191.15 46,220.50Postage Expense 2,367.74 16,223.59 12,933.32 3,290.27 19,400.00Pension Plan 5,000.00 42,242.84 32,204.00 10,038.84 48,306.00Telephone 339.75 4,665.70 4,526.68 139.02 6,790.00Office Supplies 558.32 3,022.87 4,203.32 (1,180.45) 6,305.00Staff Travel 842.40 4,327.38 2,263.32 2,064.06 3,395.00Chairmen's Expense 0.00 0.00 0.00 0.00 0.00Board and Committees 0.00 2,679.04 776.00 1,903.04 1,164.00Training, Dues, Subscriptions 1,031.45 3,826.51 1,940.00 1,886.51 2,910.00Rent and Occupancy 3,345.53 27,402.27 25,866.68 1,535.59 38,800.00Data Processing 460.23 16,096.64 12,962.72 3,133.92 14,550.00Equipment Maintenance 0.00 139.28 323.32 (184.04) 485.00Building Utilities 303.70 2,126.24 2,328.00 (201.76) 3,492.00Depreciation Expense 510.29 4,082.32 3,880.00 202.32 5,820.00Building Taxes 0.00 4,205.75 0.00 4,205.75 0.00Building Maintenance 704.85 1,555.61 161.66 1,393.95 242.50Business Insurance 0.00 2,864.17 5,626.00 (2,761.83) 5,626.00Moving Expense 0.00 0.00 0.00 0.00 0.00Legal 0.00 0.00 323.32 (323.32) 485.00Audit and Accounting 0.00 48.86 6,466.68 (6,417.82) 9,700.00Bank Charges 1,628.05 14,241.95 15,196.68 (954.73) 22,795.00Lease Related Expense 2,752.16 22,001.64 21,728.00 273.64 32,592.00Interest Expense 0.00 0.00 0.00 0.00 0.00Sales Tax Expense 0.00 85.00 129.32 (44.32) 194.00Gain/Loss on Disposition of FA 0.00 0.00 0.00 0.00 0.00Miscellaneous Expense 0.00 166.35 0.00 166.35 0.00

Total General and Administrative Expenses 79,128.41 670,242.08 671,528.04 (1,285.96) 999,585.00

Net Income Before Investing 7,870.57 284,439.15 110,101.84 174,337.31 (113,615.00)

Interest & Dividend Income 7,612.58 42,521.09 20,666.68 21,854.41 31,000.00Gain/(Loss) Realized on Investments 0.00 0.00 0.00 0.00 0.00Gain/(Loss) Unrealized on Investment 147,448.76 259,784.98 6,700.00 253,084.98 6,300.00

Net Income/Loss 162,931.91$ 586,745.22$ 137,468.52$ 449,276.70 76,315.00)($

9/12/2014 at 6:41 AM

53

North American Die Casting AssociationStatement of Revenue and Expense - Membership


Current MonthActual

Year to DateActual

Year to DateBudget


RevenuesIndividual Membership 12,668.00$ 50,618.57$ 85,000.00$ (34,381.43) 85,000.00$ Corporate Membership 10,391.66 567,679.09 580,000.00 (12,320.91) 580,000.00Application Fees-Membership 105.00 865.76 300.00 565.76 300.00Industry Survey Revenue 200.00 1,700.00 2,500.00 (800.00) 2,500.00Capabilities Directory Revenue 360.00 1,620.00 666.68 953.32 1,000.00Publication Sales 5,894.52 24,227.46 26,666.68 (2,439.22) 40,000.00Labels & Lists 0.00 853.39 133.32 720.07 200.00DCE Reprints Revenue 0.00 635.00 333.32 301.68 500.00Safety Awards Luncheon 0.00 0.00 800.00 (800.00) 1,200.00Interest Income-David Laine 362.92 2,252.28 666.68 1,585.60 1,000.00

Total Revenues 29,982.10 650,451.55 697,066.68 (46,615.13) 711,700.00

ExpensesCost of Publications 378.17 12,510.40 8,000.00 4,510.40 12,000.00Cost of NADCA Gear 0.00 0.00 0.00 0.00 0.00Membership Development Expense 105.97 5,817.16 2,000.00 3,817.16 3,000.00Membership Services 3,312.11 32,662.63 16,666.68 15,995.95 25,000.00Chapter Rebate Program 0.00 0.00 0.00 0.00 0.00Government Affairs Expense 6,763.00 50,013.50 56,666.68 (6,653.18) 85,000.00Industry Survey Expense 0.00 0.00 0.00 0.00 0.00Contributions 0.00 15.00 0.00 15.00 0.00Benchmark Study 250.00 10,267.00 0.00 10,267.00 0.00Market Study 0.00 11,000.00 0.00 11,000.00 0.00Safety Awards Luncheon 69.95 69.95 2,000.00 (1,930.05) 3,000.00Scholarships-David Laine 0.00 0.00 26,666.68 (26,666.68) 40,000.00

Total Expenses 10,879.20 122,355.64 112,000.04 10,355.60 168,000.00

Net Income 19,102.90$ 528,095.91$ 585,066.64$ (56,970.73) 543,700.00$

9/12/2014 at 6:41 AM

54

North American Die Casting AssociationStatement of Revenue and Expense - DCE Magazine


Current MonthActual

Year to DateActual

Year to DateBudget


RevenuesDisplay Advertising (net) 3,406.30 95,877.18 83,333.32 12,543.86 125,000.00Classified Advertising 551.18 5,937.44 2,666.68 3,270.76 4,000.00DCE Web Ads 1,650.00 32,932.00 20,000.00 12,932.00 30,000.00Subscription Revenue 0.00 1,460.50 2,333.32 (872.82) 3,500.00Supplier Directory 0.00 11,400.00 8,000.00 3,400.00 12,000.00C&E Program Book 0.00 0.00 0.00 0.00 0.00

Total Revenues 5,607.48 147,607.12 116,333.32 31,273.80 174,500.00

ExpensesDCE Printing Expense 0.00 29,337.71 30,666.68 (1,328.97) 46,000.00DCE Typesetting Expense 0.00 0.00 0.00 0.00 0.00DCE Artwork Expense 50.00 256.39 0.00 256.39 0.00DCE Photo Expense 500.00 500.00 0.00 500.00 0.00DCE Desktop Publishing 0.00 2,008.27 0.00 2,008.27 0.00DCE Supplies Expense 214.83 704.16 333.32 370.84 500.00DCE Mail Service Expense 0.00 0.00 0.00 0.00 0.00DCE Postage Expense 0.00 6,499.22 5,666.68 832.54 8,500.00DCE Tax Expense 0.00 0.00 0.00 0.00 0.00Honorarium Expense 0.00 0.00 0.00 0.00 0.00Reader Service Expense 0.00 0.00 0.00 0.00 0.00Editorial Assistance Expense 3,372.25 25,344.34 18,000.00 7,344.34 27,000.00Supplier Directory Expense 0.00 0.00 0.00 0.00 0.00Agency Commissions Expense 0.00 0.00 0.00 0.00 0.00Liaison/Advertising Expense 0.00 0.00 0.00 0.00 0.00Communication Dept Travel 0.00 0.00 0.00 0.00 0.00General & Administrative 0.00 287.83 0.00 287.83 0.00Promo & Marketing DCE 0.00 0.00 0.00 0.00 0.00

Total Expenses 4,137.08 64,937.92 54,666.68 10,271.24 82,000.00

Net Income 1,470.40$ 82,669.20$ 61,666.64$ 21,002.56 92,500.00$

9/12/2014 at 6:41 AM

55

North American Die Casting AssociationStatement of Revenue and Expense - Conferences


Current MonthActual

Year to DateActual

Year to DateBudget


RevenuesExecutive Conference Revenue 0.00$ 86,433.58$ 50,000.00$ 36,433.58 50,000.00$ Government Affair Conf Revenue 0.00 9,875.00 10,000.00 (125.00) 10,000.00Plant Management Conference 0.00 27,358.18 19,650.00 7,708.18 19,650.00Delegation Revenue (3,500.00) 54,200.00 35,000.00 19,200.00 35,000.00

Total Revenues (3,500.00) 177,866.76 114,650.00 63,216.76 114,650.00

ExpensesExecutive Conference Expense 0.00 78,880.98 46,000.00 32,880.98 46,000.00Government Affair Conf Expense 0.00 24,669.47 10,000.00 14,669.47 10,000.00Plant Management Conference 0.00 11,355.11 13,535.00 (2,179.89) 13,535.00Delegation Expense 0.00 42,430.81 35,000.00 7,430.81 35,000.00

Total Expenses 0.00 157,336.37 104,535.00 52,801.37 104,535.00

Net Income 3,500.00)($ 20,530.39$ 10,115.00$ 10,415.39 10,115.00$

9/12/2014 at 6:41 AM

56

North American Die Casting AssociationStatement of Revenue and Expense - Congress and Exposition


Current MonthActual

Year to DateActual

Year to DateBudget


RevenuesExhibitor Revenue 20,930.00$ 176,413.20$ 46,000.00$ 130,413.20 138,000.00$ Registration Revenue 21,285.00 25,810.00 11,666.66 14,143.34 35,000.00Sponsorship Revenue 0.00 9,000.00 4,333.34 4,666.66 13,000.00Interest Income 0.00 93.41 0.00 93.41 0.00

Total Revenues 42,215.00 211,316.61 62,000.00 149,316.61 186,000.00

ExpensesExhibition Hall Rental Expense 10,000.00 30,175.00 14,166.66 16,008.34 42,500.00Registration Expense 1,836.75 11,675.50 3,000.00 8,675.50 9,000.00Awards Banquet Expense 0.00 423.00 0.00 423.00 0.00Awards Luncheon 0.00 0.00 5,128.34 (5,128.34) 15,385.00Congress Sessions Expense 0.00 0.00 500.00 (500.00) 1,500.00Staff Travel 375.70 397.70 1,300.00 (902.30) 3,900.00Sponsorship Expense 807.69 807.69 1,916.66 (1,108.97) 5,750.00Promo & Marketing 0.00 3,360.30 3,333.34 26.96 10,000.00General & Administrative Expenses 0.00 0.00 666.68 (666.68) 1,000.00

Total Expenses 13,020.14 46,839.19 30,011.68 16,827.51 89,035.00

Net Income 29,194.86$ 164,477.42$ 31,988.32$ 132,489.10 96,965.00$

9/12/2014 at 6:41 AM

57

North American Die Casting AssociationStatement of Revenue and Expense - EducationFor the Eight Months Ending August 31, 2014

Current MonthActual

Year to DateActual

Year to DateBudget


RevenuesNational Course Revenue 0.00$ 36,827.00$ 20,000.00$ 16,827.00 30,000.00$ Chapter Course Revenue 0.00 7,775.31 5,333.32 2,441.99 8,000.00In-Plant Course Revenue 41,522.54 107,336.45 53,333.32 54,003.13 80,000.00In-House Course Revenue 0.00 3,966.00 4,000.00 (34.00) 6,000.00Webinars and Online Courses 9,130.00 145,832.96 68,666.68 77,166.28 103,000.00

Total Revenues 50,652.54 301,737.72 151,333.32 150,404.40 227,000.00

ExpensesNational Course Expense 1,060.82 10,917.09 5,200.00 5,717.09 7,800.00Chapter Course Expense 0.00 9,398.07 2,166.68 7,231.39 3,250.00In-Plant Course Expense 9,477.97 52,968.36 21,706.68 31,261.68 32,560.00In-House Course Expense 0.00 0.00 1,000.00 (1,000.00) 1,500.00Course Development Expense 0.00 10,269.58 4,000.00 6,269.58 6,000.00Webinars and Online Courses 12,248.66 57,896.05 6,666.68 51,229.37 10,000.00Education Travel 0.00 1,261.77 0.00 1,261.77 0.00

Total Expenses 22,787.45 142,710.92 40,740.04 101,970.88 61,110.00

Net Income 27,865.09$ 159,026.80$ 110,593.28$ 48,433.52 165,890.00$

9/12/2014 at 6:41 AM

58

North America Die Casting AssociationStatement of Revenue and Expense - Research and Development

For the Eight Months Ending August 31, 2014Current MonthActual

Year to DateActual

Year to DateBudget


RevenuesResearch Project Revenue 0.00$ 2,000.00$ 20,000.00$ (18,000.00) 30,000.00$ Interest Income - R&D 1,012.14 7,507.73 0.00 7,507.73 0.00AMC Project Revenue 3,703.91 33,163.60 40,000.00 (6,836.40) 60,000.00NAMII Project Revenue 2,067.15 24,975.15 12,000.00 12,975.15 18,000.00Technical Workshop Revenue 3,893.00 6,352.00 0.00 6,352.00 0.00

Total Revenues 10,676.20 73,998.48 72,000.00 1,998.48 108,000.00

ExpensesR&D Project Expense 186.21 75,133.91 86,666.68 (11,532.77) 130,000.00Die Casting Competition 0.00 200.00 0.00 200.00 0.00AMC Project Expense 0.00 11,048.55 3,333.32 7,715.23 5,000.00NAMII Project Expense 0.00 4,557.16 2,000.00 2,557.16 3,000.00Technical Workshop Expense 1,083.54 1,083.54 0.00 1,083.54 0.00R&D Planning 0.00 1,507.92 200.00 1,307.92 300.00

Total Expenses 1,269.75 93,531.08 92,200.00 1,331.08 138,300.00

Net Income 9,406.45$ 19,532.60)($ 20,200.00)($ 667.40 30,300.00)($

59

North American Die Casting AssociationStatement of Revenue and Expense - General and Administrative


Current MonthActual

Year to DateActual

Year to DateBudget


RevenuesInterzinc Management 0.00 1,100.00 0.00 1,100.00 2,200.00Rental Income 0.00 0.00 0.00 0.00 0.00Shipping Charges Received 144.56 3,559.00 5,666.68 (2,107.68) 8,500.00Interest Income 6,040.26 31,378.58 20,000.00 11,378.58 30,000.00Contributions 0.00 0.00 0.00 0.00 0.00Miscellaneous Income 7,189.78 29,865.12 0.00 29,865.12 0.00

Total Revenues 13,374.60 65,902.70 25,666.68 40,236.02 40,700.00

Salaries 51,150.00 398,484.95 404,166.68 (5,681.73) 606,250.00Outside Services 1,316.56 25,235.72 48,500.00 (23,264.28) 72,750.00Payroll Taxes 3,164.53 33,512.59 34,208.68 (696.09) 51,313.00Intern Program 0.00 0.00 0.00 0.00 0.00Employee Benefits 3,652.85 41,004.81 30,813.66 10,191.15 46,220.50Pension Plan 5,000.00 42,242.84 32,204.00 10,038.84 48,306.00Postage 2,367.74 16,223.59 12,933.32 3,290.27 19,400.00Telephone 339.75 4,665.70 4,526.68 139.02 6,790.00Office Supplies 558.32 3,022.87 4,203.32 (1,180.45) 6,305.00Staff Travel 842.40 4,327.38 2,263.32 2,064.06 3,395.00Chairmen's Expense 0.00 0.00 0.00 0.00 0.00Board and Committees 0.00 2,679.04 776.00 1,903.04 1,164.00Training, Dues, Subscriptions 1,031.45 3,826.51 1,940.00 1,886.51 2,910.00Rent and Occupancy 3,345.53 27,402.27 25,866.68 1,535.59 38,800.00Data Processing 460.23 16,096.64 12,962.72 3,133.92 14,550.00Equipment Maintenance 0.00 139.28 323.32 (184.04) 485.00Building Utilities 303.70 2,126.24 2,328.00 (201.76) 3,492.00Depreciation 510.29 4,082.32 3,880.00 202.32 5,820.00Building Taxes 0.00 4,205.75 0.00 4,205.75 0.00Building Maintenance 704.85 1,555.61 161.66 1,393.95 242.50Moving Expense 0.00 0.00 0.00 0.00 0.00Business Insurance 0.00 2,864.17 5,626.00 (2,761.83) 5,626.00Legal 0.00 0.00 323.32 (323.32) 485.00Audit and Accounting 0.00 48.86 6,466.68 (6,417.82) 9,700.00Bank Charges 1,628.05 14,241.95 15,196.68 (954.73) 22,795.00Lease Related Expense 2,752.16 22,001.64 21,728.00 273.64 32,592.00Interest 0.00 0.00 0.00 0.00 0.00Sales Tax 0.00 85.00 129.32 (44.32) 194.00Gain/Loss on Disposition 0.00 0.00 0.00 0.00 0.00Bad Debt 0.00 0.00 0.00 0.00 0.00Miscellaneous 0.00 166.35 0.00 166.35 0.00Gain/Loss Realized on Investments 0.00 0.00 0.00 0.00 0.00Gain/Loss Unrealized on Investment (114,852.49) (275,398.96) (7,500.00) (267,898.96) (7,500.00)

Total General and Administrative Expenses (35,724.08) 394,843.12 664,028.04 (269,184.92) 992,085.00

Net Income/Loss 49,098.68$ 328,940.42)($ 638,361.36)($ 309,420.94 951,385.00)($

9/12/2014 at 6:41 AM

60

Statement of Revenue and Expense - MarketingFor the Eight Months Ending August 31, 2014

Current MonthActual

Year to DateActual

Year to DateBudget


RevenuesSponsorships 0.00$ 2,100.00$ 10,000.00$ (7,900.00) 10,000.00$ Interest Income-Marketing Fund 197.26 1,382.50 0.00 1,382.50 0.00

Total Revenues 197.26 3,482.50 10,000.00 (6,517.50) 10,000.00

ExpensesSponsorships 0.00 0.00 1,000.00 (1,000.00) 1,000.00Marketing Services 2,500.00 7,250.00 7,600.00 (350.00) 7,600.00Advertising 0.00 0.00 4,000.00 (4,000.00) 4,000.00Die Casting Competition 0.00 200.00 0.00 200.00 0.00

Total Expenses 2,500.00 7,450.00 12,600.00 (5,150.00) 12,600.00

Net Income 2,302.74)($ 3,967.50)($ 2,600.00)($ (1,367.50) 2,600.00)($

9/12/2014 at 6:41 AM

62

NORTH AMERICAN DIE CASTING ASSOCIATION STATEMENTS OF REVENUE & EXPENSE

2015 BUDGET

2010 2011 2012 2013 As of July 2014 2015

REVENUE ACTUAL ACTUAL ACTUAL ACTUAL 2014 BUDGET Proposed Budget

Membership Dues 435,243.00 634,038.00 675,180.00 730,143.41 596,548.76 666,300.00 680,750.00$ Publications/Software 81,035.00 75,549.00 83,638.00 55,818.27 21,946.33 45,400.00 41,200.00$ DCE Magazine 165,458.54 168,089.00 202,615.00 183,685.12 159,960.15 174,500.00 183,500.00$ Meetings & Conferences 114,493.00 74,272.00 108,993.00 112,250.00 181,366.76 114,650.00 107,500.00$ Congress & Exposition 733,374.03 132,564.00 818,990.00 222,926.00 170,008.20 186,000.00 1,190,000.00$ Education 87,325.50 190,195.00 204,353.00 243,951.33 251,085.18 227,000.00 304,000.00$ Marketing 161.84 245.00 1,691.00 6,933.58 2,100.00 10,200.00 9,200.00$ Interzinc Management - 1,740.00 3,150.00 2,244.28 1,100.00 2,200.00 -$ Shipping Charges Received 7,547.00 10,486.00 8,841.00 7,883.71 3,414.44 8,500.00 8,000.00$ Rental Income 17,244.00 22,992.00 22,992.00 11,496.00 - - -$ Research & Development 1,474,401.18 625,676.00 223,214.00 114,900.28 56,826.69 115,500.00 107,500.00$

TOTAL REVENUE 3,116,283.09 1,935,846.00 2,353,657.00 1,692,231.98 1,444,356.51 1,550,250.00 2,631,650.00$

EXPENSES

Membership 113,341.50 182,688.00 159,996.00 177,316.35 111,476.44 168,000.00 172,500.00$ DCE Magazine 65,713.78 87,102.00 111,216.00 93,472.32 60,800.84 83,000.00 94,500.00$ Meetings & Conferences 130,468.00 60,555.00 104,167.00 83,990.23 157,336.37 104,535.00 90,000.00$ Congress & Exposition 339,865.96 57,985.00 275,388.00 102,717.21 33,819.05 88,035.00 191,700.00$ Education 39,372.68 77,671.00 60,098.00 65,545.97 119,923.47 61,110.00 136,650.00$ Marketing 300.00 8,406.00 3,618.00 12,231.00 5,658.78 12,900.00 10,900.00$ Research & Development 1,324,842.24 477,355.00 238,728.00 170,104.76 139,562.50 138,300.00 152,700.00$

TOTAL EXPENSES 2,013,904.16 951,762.00 953,211.00 705,377.84 628,577.45 655,880.00 848,950.00$

Net Revenue over Expensebefore G&A Expenses 1,102,378.93 984,084.00 1,400,446.00 986,854.14 815,779.06 894,370.00 1,782,700.00

Salaries 731093.36 668,306.26 709,567.00 677,975.54 347334.95 606,250.00 682,800.00$ Outside Services 0 0 0 15,292.79 23919.16 72,750.00 21,600.00$ Payroll Taxes 57194.28 50987.32 54127 50,357.27 30348.06 51,313.00 58,038.00$ Employee Benefits 63266.84 69469.36 70536 60,273.49 37351.96 46,220.50 46,150.00$ Pension Plan 57889.78 53224.26 52583 49,566.53 37242.84 48,306.00 54,624.00$ Postage 22933.07 26829.35 25870 20,751.52 13855.85 19,400.00 19,200.00$ Telephone 17835.39 24739.36 15191 14,980.44 4325.95 6,790.00 10,800.00$ Office Supplies 6133.51 6772.5 6092.31 7,968.72 2464.55 6,305.00 6,000.00$ Staff Travel 8563.75 4052.1 7714 4,513.23 3484.98 3,395.00 4,000.00$ Board & Committee 1010.9 1312.31 917 4,105.57 2679.04 1,164.00 2,000.00$ Training, Dues, Subscr. 9185.77 4406.81 2133 3,328.05 2,795.06 2,910.00 3,000.00$ Rent & Occupancy 0 0 0 11,808.50 24056.74 38,800.00 45,600.00$ Business Insurance 15265.86 7915.65 14821 18,184.36 2864.17 5,626.00 8,000.00$ Equipment Maintenance 169.95 67.9 0 0.00 139.28 485.00 500.00$ Depreciation-FA 19633.85 16846.04 9920 5,000.00$ 3572.03 5,820.00 5,650.00$ Depreciation-Bldg 56909.48 56982.89 58980 52,597.37$ 0.00 - -$ Building Taxes 25980 69332.09 45576 4,987.61$ 4205.75 - -$ Building Utilities 14393.44 12400.64 10699 10,536.06$ 1822.54 3,492.00 4,200.00$ Building Maintenance 12718.75 5031.49 4598 7,577.32$ 850.76 242.50 600.00$ Legal 3678.51 13176.34 0 4,989.42$ 0 485.00 -$ Audit & Accounting 10460 14065 7760 10,000.00$ 48.86 9,700.00 10,000.00$ Data Processing 14483.1 11581.13 12129 16,633.61$ 15,636.41 14,550.00 25,000.00$ Bank Fees 16014.37 23126.08 33205 28,396.84$ 12613 22,795.00 25,000.00$ Lease Related Expense 25136.94 26253.47 36589 32,401.74$ 19,249.48 32,592.00 33,600.00$ Sales Tax 0 145.5 0 0.00 85 194.00 300.00$ Misc Expenses - - - 27,650.00 3,166.35 -$ Gain/Loss on FA - - (1,634.00) 62,961.87 - - -$

TOTAL G & A 1,189,950.90 1,167,023.85 1,177,373.31 1,202,837.85 594,112.77 999,585.00 1,066,662.00$

NET INCOME BEFOREINVESTMENTS (87,571.97) (182,939.85) 223,072.69 (215,983.71) 221,666.29 (105,215.00) 716,038.00

Investment Income (net) 102,948.81 111,142.30 84,708.00 172,014.22 35,001.92 30,000.00 65,000.00$ Gain/Loss on Investments 159,092.33 (239,401.38) 374,598.00 767,774.15 160,546.47 - -$

NET INCOME 174,469.17 (311,198.93) 682,378.69 723,804.66 417,214.68 (75,215.00) 781,038.00$

8/21/2014 Page 1

63

NORTH AMERICAN DIE CASTING ASSOCIATION STATEMENTS OF REVENUE & EXPENSE - MEMBERSHIP

2015 BUDGET

2010 2011 2012 2013 As of 2014 2015REVENUE ACTUAL ACTUAL ACTUAL Actual Jul-14 BUDGET Budget

Individual Membership 84,525.00 95,065.00 109,188.00 78,906.91$ 37870.57 85,000.00 80,000.00$ Corporate Membership 350,643.00 538,158.00 564,434.00 648,226.50 557287.43 580,000.00 600,000.00$ Application Fees 75.00 815.00 1,558.00 1,340.00 755.76 300.00 750.00$ Industry Surveys 2,244.00 2,340.00 2,660.00 3,350.00 1500 2,500.00 2,500.00$ Publications 77,051.00 69,126.00 64,981.00 47,312.69 18,332.94 40,000.00 36,000.00$ Reprints - 930.00 200.00 1670 635.00 500.00 500.00$ Capabilities Directory 960.00 1,640.00 1,830.00 1660 1260 1,000.00 1,200.00$ Safety Awards 780.00 900.00 1,825.00 1050 0.00 1,200.00 -$ Labels & Lists - 1,700.00 0 853.39 200.00 -$ Shipping Charges 8,000.00$ Interest Income David Laine - 613.00 10,442.00 0 1,889.36 1,000.00 1,000.00$

TOTAL REVENUE 516,278.00 709,587.00 758,818.00 779,136.10$ 620,384.45 711,700.00 729,950.00$

EXPENSES

Cost of Publications 22,507.20 31,203.00 11,895.00 24,047.40 12,132.23 12,000.00 12,000.00$ Membership Development 11,312.00 2,967.00 3,102.00 2,797.55 5,711.19 3,000.00 5,000.00$ Membership Services 14,597.00 23,936.00 24,069.00 50,931.02 29,350.52 25,000.00 25,000.00$ Chapter Rebate 3,050.00 - - - - - -$ Government Affairs 59,568.00 112,937.00 92,217.00 68,771.37 43,250.50 85,000.00 90,000.00$ Surveys (Benchmark and Markets) 200.00 - - - 21,017.00 - -$ Royalty 63.30 - - - - -$ Safety Awards Luncheon 1,144.00 1,745.00 2,763.00 - 3,000.00 -$ Scholarships-David Laine - 9,000.00 25,000.00 40,417.00 40,000.00 40,000.00$ Contributions 900.00 900.00 950.00 600.00 - 500.00$

TOTAL EXPENSES 113,341.50 182,688.00 159,996.00 187,564.34 111,461.44 168,000.00 172,500.00$

NET REVENUE OVER EXPENSE 402,936.50 526,899.00 598,822.00 591,571.76 508,923.01 543,700.00

Page 2

64

NORTH AMERICAN DIE CASTING ASSOCIATIONSTATEMENTS OF REVENUE & EXPENSE - NADCA MAGAZINES

2015 BUDGET

2010 2011 2012 2013 As of 2014 2015REVENUE ACTUAL ACTUAL ACTUAL Actual July, 2014 BUDGET Budget

Display Advertising 129,512.25 128,506.00 152,978.00 141,752.10 110,574.89 125,000.00 140,000.00$ Classified Advertising 3,467.79 4,172.00 6,452.00 6,539.02 5,386.26 4,000.00 5,000.00$ DCE Web Ads 12,485.00 30,116.00 26,725.00 29,974.00 31,282.00 30,000.00 35,000.00$ Subscription Revenue 7,093.50 5,295.00 5,160.00 5,420.00 1,317.00 3,500.00 3,500.00$ Supplier Directory 12,900.00 - 11,300.00 0.00 11,400.00 12,000.00 -$

TOTAL REVENUE 165,458.54 168,089.00 202,615.00 183,685.12 159,960.15 174,500.00 183,500.00$

EXPENSES

DCE - Printing 39,514.94 45,226.00 51,195.00 44,561.35 29,337.71 46,000.00 46,000.00$ DCE - Desktop Publishing - - - 2,760.38 2,008.27 - 18,000.00$ DCE - Supplies 1,082.70 5,137.00 509.00 1,875.50 489.33 500.00 1,000.00$ DCE - Postage 8,620.92 6,703.00 7,346.00 6,441.60 6,499.22 8,500.00 6,600.00$ Editorial Assistance 16,470.82 29,285.00 50,975.00 36,451.77 21,972.09 27,000.00 28,000.00$ Travel Expense 24.40 751.00 1,191.00 - - 1,000.00 500.00$

TOTAL EXPENSES 65,713.78 87,102.00 111,216.00 92,090.60 60,306.62 83,000.00 100,100.00$

NET REVENUE OVER EXPENSE 99,744.76 80,987.00 91,399.00 91,594.52 99,653.53 91,500.00 83,400.00

Page 3

65

NORTH AMERICAN DIE CASTING ASSOCIATIONSTATEMENTS OF REVENUE & EXPENSE - CONFERENCES & MEETINGS

2015 BUDGET


Executive Conference 41,995.00 37,429.00 54,160.00 71,575.00$ 86,433.58 50,000.00 70,000.00 Government Affairs 4,500.00 4,952.00 4,200.00 10,270.00 9,875.00 10,000.00 10,000.00 Plant Management 14,839.00 15,181.00 18,400.00 22,945.00 27,358.18 19,650.00 20,000.00 Marketing Seminar - 16,710.00 - 7,460.00 - - 7,500.00 Delegation 53,159.00 - 32,233.00 - 57,700.00 35,000.00 -

TOTAL REVENUE 114,493.00 74,272.00 108,993.00 112,250.00 181366.76 114,650.00 107,500.00

EXPENSES

Executive Conference 50,677.00 36,123.00 47,030.00 58,904.03 78,880.98 46,000.00 62,000.00 Government Affairs 14,519.00 410.00 7,132.00 10,630.29 24,669.47 10,000.00 10,000.00 Plant Management 12,547.00 9,465.00 12,119.00 8,169.60 11,355.11 13,535.00 12,000.00 Marketing Seminar - 14,557.00 - 6,622.11 0.00 - 6,000.00 Delegation 52,725.00 - 37,886.00 - 42,430.81 35,000.00 -

TOTAL EXPENSES 130,468.00 60,555.00 104,167.00 84,326.03 157,336.37 104,535.00 90,000.00

NET REVENUE OVER EXPENSE (15,975.00) 13,717.00 4,826.00 27,923.97 24,030.39 10,115.00 17,500.00

Page 4

66

NORTH AMERICAN DIE CASTING ASSOCIATIONSTATEMENTS OF REVENUE & EXPENSE - CONGRESS & EXPOSITION

2015 BUDGET

2009 2010 2011 2012 2013 As of 2014 2015REVENUE ACTUAL ACTUAL ACTUAL ACTUAL Actual July, 2014 BUDGET Budget

Exhibitor 122,919.97 623,219.59 89,580.00 718,958.00 146,776.00 156,483.20 138,000.00 1,100,000.00$ Registration 16,955.00 102,183.50 36,734.00 73,080.00 56,950.00 4,525.00 35,000.00 75,000.00$ Spouse Program - 913.50 - - - - -$ Welcome Reception 4,200.00 1,943.00 - 3,850.00 - - -$ Awards Gala - 960.00 6,250.00 7,600.00 - - -$ Advertising - Program 3,102.00 3,130.16 - - - - -$ Sponsorships - - - 15,502.00 19,000.00 9,000.00 13,000.00 15,000.00$ Interest 391.05 1,024.28 - - 200.00 93.41 -

TOTAL REVENUE 147,568.02 733,374.03 132,564.00 818,990.00 222,926.00 170,101.61 186,000.00 1,190,000.00$

EXPENSES

Exhibition Hall 44,328.30 101,071.29 24,696.00 90,824.00 28,510.94 20,175.00 42,500.00 95,000.00$ Registration 2,008.05 26,637.22 11,275.00 26,487.00 10,615.66 9,838.75 9,000.00 26,000.00$ Spouse Program - 1,435.81 - - - - -$ Welcome Reception 6,378.71 6,480.72 - 11,529.00 0 - 12,000.00$ Awards Gala - 25,473.51 13,390.00 26,055.00 12,614.50 423.00 - -$ Industry Luncheon - - - - 15,385.00 25,000.00$ Congress Sessions 3,054.89 4,532.33 1,412.00 1,237.00 1,500.00 3,000.00$ Travel 1,865.82 1,286.86 4,119.00 4,257.00 3,993.09 22.00 3,900.00 4,500.00$ Hotel Attrition - 68,878.84 - - - - -$ Transportation - 9,867.08 - - - - -$ Exhibitors Meeting - 494.59 - 1,136.00 - - 1,200.00$ Promotion & Marketing 10,686.39 24,496.07 3,093.00 10,285.00 7,074.68 3,360.30 5,750.00 15,000.00$ Sponsorships - - - 11,370.00 160.00 10,000.00 10,000.00$ General & Administrative 4,703.49 69,211.64 - 92,208.00 584.95 - -$

TOTAL EXPENSES 73,025.65 339,865.96 57,985.00 275,388.00 63,553.82 33,819.05 88,035.00 191,700.00$

NET REVENUE OVER EXPENSE 74,542.37 393,508.07 74,579.00 543,602.00 159,372.18 136,282.56 97,965.00 998,300.00$

Page 5

67

NORTH AMERICAN DIE CASTING ASSOCIATIONSTATEMENTS OF REVENUE & EXPENSE - EDUCATION

2015 BUDGET


National Courses 30,681.50 31,318.00 31,304.00 39,747.73$ 36,827.00$ 30,000.00 35,000.00 Chapter Courses 2,024.00 17,165.00 11,684.00 4,561.78 7,775.31 8,000.00 8,000.00 In Plant Courses 53,345.00 119,000.00 84,867.00 95,776.74 65,813.91 80,000.00 85,000.00 In House Courses 1,275.00 6,316.00 1,100.00 7,225.10 3,966.00 6,000.00 6,000.00 Webinars & Online Courses - 16,396.00 75,398.00 96,639.98 136,702.96 103,000.00 170,000.00

TOTAL REVENUE 87,325.50 190,195.00 204,353.00 243,951.33$ 251,085.18 227,000.00 304,000.00

EXPENSES

National Courses 5,173.18 10,929.00 5,239.00 15,400.43 9,856.27 7,800.00 9,000.00 Chapter Courses 632.00 6,221.00 2,802.00 600.00 9,398.07 3,250.00 3,250.00 In Plant Courses 25,980.85 59,262.00 28,474.00 40,544.85 43,490.39 32,560.00 56,700.00 In House Courses 4,505.00 227.00 - 0.00 0.00 1,500.00 1,000.00 Course Development 3,081.65 84.00 7,255.00 247.00 10,269.58 6,000.00 10,000.00 Webinars & Online Courses - 948.00 16,328.00 12,073.00 45,647.39 10,000.00 56,700.00 Education Travel 1,261.77 -

TOTAL EXPENSES 39,372.68 77,671.00 60,098.00 68,865.28$ 119,923.47 61,110.00 136,650.00

NET REVENUE OVER EXPENSE 47,952.82 112,524.00 144,255.00 175,086.05$ 131,161.71$ 165,890.00 167,350.00

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NORTH AMERICAN DIE CASTING ASSOCIATIONSTATEMENTS OF REVENUE & EXPENSE - MARKETING

2015 BUDGET

2010 2011 2012 2013 As of 2014 2015REVENUE ACTUAL ACTUAL ACTUAL Actual July, 2014 BUDGET BUDGET

Marketing Assessment - - - - Marketing Sponsorships - - 1,500.00 5,800.00$ 2,100.00 10,000.00 9,000.00$ Interest Income-Marketing Fund 161.84 245.00 191.00 1,129.41$ 1,185.24 200.00 200.00$

TOTAL REVENUE 161.84 245.00 1,691.00 6,929.41$ 3,285.24 10,200.00 9,200.00$

EXPENSES

Marketing Services - 4,300.00 - 2,514.57$ 4,750.00 7,600.00 7,600.00$ Marketing Advertising - 3,806.00 568.00 3,850.00$ 4,000.00 2,000.00$ Marketing OEM Assistance - - - -$ 200.00 1,000.00 1,000.00$ Marketing Sponsorships - - 2,750.00 -$ - -$ Marketing Fund Expense 300.00 300.00 300.00 1,290.39$ 908.78 300.00 300.00$

TOTAL EXPENSES 300.00 8,406.00 3,618.00 7,654.96$ 5,858.78 12,900.00 10,900.00$

NET REVENUE OVER EXPENSE (138.16) (8,161.00) (1,927.00) (725.55)$ (2,573.54)$ (2,700.00) (1,700.00)$

69

NORTH AMERICAN DIE CASTING ASSOCIATION STATEMENTS OF REVENUE & EXPENSE - RESEARCH & DEVELOPMENT

2015 BUDGET


R&D Revenue Recognized 5,000.00 765.00 - - - Research Project Revenue - 5,000.00 - 472.31 2,000.00 30,000.00 25,000.00$ Interest Income - R&D 23,831.73 16,716.00 13,188.00 5,286.26 6,495.59 7,500.00 7,500.00$ Technical Workshop 6,419.00 - - - 2,459.00 - DMDII 5,000.00$ AMC Research Project 157,178.45 152,474.00 105,084.00 51,179.89 29,459.69 60,000.00 60,000.00$ Cast Metals Coalition Project 8,915.00 - 15,609.00 31,885.82 - -$ ALMMII 10,000.00$ NAMII - - - 24,978.00 22,908.00 18,000.00 -$ HyperCAST 1,273,057.00 450,721.00 89,333.00 - - -$ TOTAL REVENUE 1,474,401.18 625,676.00 223,214.00 113,802.28 63,322.28 115,500.00 107,500.00$

EXPENSES

R&D Research Projects 39,132.62 872.00 140,731.00 51,969.54 74,947.70 130,000.00 142,500.00$ R&D Travel 294.00 - 897.00 - -$ Technical Workshop 11,115.88 - - 1,200.00 - -$ ALMMII 1,500.00$ AMC Research Project 58,722.00 64,430.00 47,494.00 4,404.86 11,048.55 5,000.00 7,000.00$ Cast Metals Coalition Project 87.69 - 290.00 - - -$ NAMII - - - 2,400.00 4,557.16 3,000.00 -$ HyperCAST 1,224,169.00 412,029.00 57,177.00 3,177.50 - -$ Technology Showcase - - - - - -$ Die Casting Competition 304.60 24.00 - - 200.00 - 200.00$ Unrealized Loss on Investments (9,577.15) - 2,314.00 6,304.44 47,301.17 - -$ Research Planning Expense 593.60 - (10,175.00) 841.63 1,507.92 300.00 1,500.00$

TOTAL EXPENSES 1,324,842.24 477,355.00 238,728.00 70,297.97 139,562.50 138,300.00 152,700.00$

NET REVENUE OVER EXPENSE 149,558.94 148,321.00 (15,514.00) 43,504.31 (76,240.22) (22,800.00) (45,200.00)$

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NORTH AMERICAN DIE CASTING ASSOCIATION Finance … · estimated that NADCA will be revenue positive by 150-200K at the end of the year. V. Review of NADCA Balance Sheet August ‘13