NAFCU Journal July August 2021

14 Activities with donor restrictions Net Assets PROGRAM SERVICES EXPENSES 2020 2019 ADVOCACY AND COMPLIANCE $ 6,811,802 $ 7,170,869 CONFERENCES AND SEMINARS 2,557,371 5,024,137 COMMUNICATIONS, PUBLICATIONS AND MARKETING 3,420,966 3,367,324 MEMBERSHIP SERVICES 1,427,706 1,223,383 TOTAL PROGRAM SERVICES $ 14,217,845 $ 16,785,713 SUPPORTING SERVICES EXPENSES MANAGEMENT AND GENERAL $ 3,124,147 $ 3,250,247 TOTAL PROGRAM SERVICES $ 3,124,147 $ 3,250,247 TOTAL EXPENSES $ 17,341,992 $ 20,035,960 CHANGE IN NET ASSETS WITHOUT DONOR RESTRICTIONS BEFORE UNREALIZED AND REALIZED GAIN $ 280,860 $ 537,343 CONTRIBUTIONS $ 860,566 $ 793,127 INTEREST INCOME 5,949 7,858 NET ASSETS RELEASED FROM RESTRICTIONS (496,495) (549,791) CHANGE IN NET ASSETS WITH DONOR RESTRICTIONS 370,020 251,194 BEGINNING $ 15,068,361 $ 13,989,666 ENDING $ 15,828,437 $ 15,068,361 UNREALIZED AND REALIZED GAIN (LOSS) ON INVESTMENTS $ 109,196 $ 290,158 CHANGE INNETASSETSWITHOUTDONORRESTRICTIONS $ 390,056 $ 827,501 Financial Oversight The NAFCU Board of Directors and its audit committee support the highest standards of corporate accounting and governance. In December 2020, an audit by the independent certified public accounting firm of RSM US LLP provided an unqualified opinion on the consolidated National Association of Federally-Insured Credit Unions financial statements. CHANGE IN NET ASSETS $ 760,076 $ 1,078,695