Audited financial statement
AIGA's audited financial statement is published here for its
members. The board and management of AIGA consider their roles as
stewards of the institution, which belongs to members past, present
and future. We publish the audited statement as a commitment to
transparency and accountability in governance.
The statement is prepared by an independent auditor, Friedman
LLP. A competitive review of auditors was held in 2009 and the
decision was made to retain Friedman. Periodic reviews will occur
to assure continuing objectivity on the part of the auditors, who
report to the secretary/treasurer, a member of the board of the
association.
One aspect of AIGA's operations that must be kept in mind when
viewing the financial statement is that AIGA's pattern of
activities, with a larger biennial design conference, is to operate
on a two-year financial cycle, with a surplus in the even fiscal
years (when the biennial design conference occurs) and deficit in
the subsequent odd fiscal year, which is covered by the previous
year's surplus. The fiscal year runs from October 1 to September
30, so the October 2011 conference will be reflected in FY 2012.
The 2010 statement compares figures for 2009 and 2010; it is
therefore important to recognize that the FY 2009 statement includes the October 2008 “Gain: AIGA Business
and Design Conference” while the
FY 2010 statement includes the October 2009 “Make/Think: AIGA Design Conference”.
The bottom line is that AIGA is in solid financial condition;
Dun & Bradstreet, a commercial financing authority, classifies
AIGA in the top of its class nationally for credit-worthiness. Our
cash and investment balances are largely the result of prepayments
of the next year's dues at the end of each fiscal year, since a
substantial number of members' renewals are due the last day of the
fiscal year.
AIGA Financial Statement FY2010
AIGA's auditor
Friedman LLP