Annual Financial Report

July 26, 2022 3:44 PM | Nancy Moody (Administrator)

By Kathleen Cooper, Treasurer

As the Treasurer of WAS-H, I would like to present the members with a short summary of our financial position. Please know that, at any time, a member may request a copy of a financial statement or a filed tax return. Our fiscal year ends on May 31st. The tax return for the June 1, 2021 to May 31, 2022 has not yet been filed, but it will be filed on a timely basis. Note - below the numbers are rounded to the nearest thousand, to make this easier to read. 

We currently have cash accounts totaling $331,000. Fixed assets less depreciation equal $472,000. Our only liabilities are sales tax and payroll tax payable, for a total of $3,000 in payables. Therefore, we are in fiscally sound condition.

For the fiscal year ending 5/31/22 we had revenues of $248,000 and cash expenses of $247,000, giving us positive cash flow of $1,000. For the prior year ended 5/31/21 we had revenues of $195,000 and cash expenses of $196,000 for a negative cash flow of $1,000.

So, we are living within our means, but not making anything extra to save.

Note - FYE 5/31/21 - fewer awards were given out for the international exhibit.

As you can see from the above, once you subtract the instructor fees from the class income it falls to third place in the list of money-making activities.  Instructors generally are paid 80% of class revenue.

Donations and Membership Dues are the PRIMARY sources of income that keep WAS-H running!

Please let me know if you have any questions or want further information. My WAS-H email is

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