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.Operating margin: Unrestricted Change in net assets from operating activities / unrestricted operating support and revenues return on Net Assets = Total change in net

.Operating margin: Unrestricted Change in net assets from operating activities / unrestricted operating support and revenues

return on Net Assets = Total change in net assets/ beginning-of-year net assets)

a) Calculate these ratios for ASPCA for 2014

b) Explain, in plain language, what these ratios tell you.

c) What is your assessment of ASPCAs and Return on Net Assets?

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THE AMERICAN SOCIETY FOR THE PREVENTION OF CRUELTY TO ANIMALS Statement of Activities Year ended December 31, 2014 Temporarily restricted Permanently restricted Unrestricted Total $ 8,560,115 128,267,214 14,585,922 14,297,431 4,431,672 136,827,329 14,585,922 26,710,253 4,431,672 12,412,822 5,272,000 5.272.000 17,648,146 (17,648,146) 184,502,385 3,324,791 187,827,176 36,325,919 33,606,739 22,399,770 22,800,090 15,445,879 130,578,397 ||||| 11111 36,325,919 33,606,739 22,399,770 22,800,090 15,445,879 130,578,397 Operating support and revenues: Contributions, memberships, grants, and sponsorships Animal health services fees Bequests and trusts Royalties, licenses, and other Investment income designated for operations (note 3) Net assets released from restrictions (note 10) Total operating support and revenues Operating expenses (note 8): Program expenses: Animal health services Public education and communications Anticruelty programs Community Outreach Grants (note 9) Total program expenses Supporting expenses: Membership development and fund-raising Management and general Total supporting expenses Total operating expenses Change in net assets from operating activities Nonoperating activities: Investment return (less than) in excess of amounts designated for operations (note 3) Net (depreciation) appreciation on beneficial interest in trusts held by others (note 4) Contributions related to endowment (note 11) Pension-related charges other than net periodic pension cost (note 6) Change in net assets Net assets at beginning of year Net assets at end of year 35,542,646 9,069,156 35,542,646 9,069,156 44,611,802 44,611,802 175,190,199 175,190,199 9,312,186 3,324,791 12,636,977 (1,409,354) 382,807 (1,026,547) (267,247) 326,868 62,521 59,621 62,521 (3,029,274) 4,873,558 135,314,763 140,188,321 3,440,351 36,925,063 40,365,414 389,389 25,671,894 26,061,283 (3,029,274) 8,703,298 197,911,720 206,615,018 $ See accompanying notes to financial statements

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