Diluted Thinking

in Australian healthcare

AVSN - Financial Statements (supplied by AVSN)

On 13 March 2014, the AVSN made available for download its annual financial statements from 1998 to 2012 inclusive. Meryl Dorey explains why she did this (and you can download the statements) from the AVSN's blog post The AVN - our finances are an open book. The short version is that journalists were questioning the AVSN about its finances so Dorey made the financial statements publicly available stating they have nothing to hide.

Over this 15 year period AVSN expenses average out to 99% of income and for over half of this period expenses actually exceed income.
Worse still, in this entire 15 year period with an income in excess of $2.6 million dollars, not a single cent was paid out to a third-party not associated with the organisation's running costs or promotion. Even all the funds raised for charitable purposes were diverted to the AVSN's running costs.

Update 19 Mar 2014: figures for 2003 amended to include sales revenue and cost of goods sold and amended 2007 magazine costs.

YearTotal Income $Total Expenses $Expenses
% of Income
2012140,197161,918115
2011146,215157,420108
2010281,885231,44782
2009281,756270,81696
2008246,756250,598102
2007344,678341,95499
2006206,014223,476108
2005300,983246,43882
2004131,911131,05999
2003210,957261,951124
200296,53097,945101
200162,14462,689101
200056,39750,16089
199966,76271,229107
1998106,49299,53993
TOTAL2,679,6772,658,63999

* NOTE: 2004, 2005, 2006 statements do not contain a proper Trading Statement
Total Income & Total Expenses for 2004-2006 likely to be much higher than those shown here as statements only show income & expenses after trading result has been applied. Cost of Goods Sold was not included in those statements.

Selected Entries

Following are some selected entries from the AVSN supplied financial statements. Entries that have been left blank indicate the expense was not itemised in the statement.

Donations

Comparison of donations made to the AVN and donations made by the AVN.

YearDonations TO
the AVN
Donations BY
the AVN
201223,9500
201179,3740
2010187,1650
200990,4360
200844,0930
2007120,4010
200620,1290
2005100,4270
200427,8520
200327,9640
20027,2060
200114,365100
200017,5900
1999not itemised215
1998not itemised165
TOTAL$760,952$480

Computer Expenses

Financial statements itemised entries: computer expenses, leasing charges and website expenses.

YearExpensesLeasingWebsiteTotal $
201212,7595,7728,41626,947
20117,6108,7294,29920,638
20109,8614,7438,18222,786
20093,7743,9229,96817,664
20085,1624,0296,87116,062
20076,2267,74013,32027,286
2006
2005
200418,835
200320,749
20029,579
20015,727
20005,723
19997,011
19981,519

Professional Fees & Consultant Fees

YearProfessional FeesConsultant Fees
201232,229
201129,5981,986
201018,4262,880
20094,12413,770
200831620,896
20071,36414,995
200624,935
200539,249
200420,895
200313,631
20020

Magazine Costs

Note: AVSN magazine started in 2003. Prior to this they published a newsletter.

YearTotal Cost $Editor Fee $
2012
2011
201053,121
200986,547
200886,94117,490
2007140,47415,840
2006
2005
2004
2003

Misc Expenses

YearPrinting
& Copying
TravelStalls &
Conventions
OfficeTelephone
2012
20112,2736,9338,0123,0096,477
20108,1684,8594,5751,9437,021
200910,2965,0431,5252,6196,818
200811,1001,8371,9833,8637,565
20074,2521,9083,0458,659
20065,847
20056,016
20043,3582,15615,0197,734
200315,12525,41914,9489,412
20022,5814783,8666,8085,024
200110,6901,7213,9766,260
200010,0671,8252,7775,532
19996,1461,7694,3857,603
19985,7878203505,5422,282