2014 Financial Statements

United States Judo Association
2014 Financial Commentary

Dear Members of the USJA:

The 2014 Financial Statements prepared by Wyckoff & Associates details much of what we already knew and expected: 2014 was a very difficult year for the USJA. Operating revenues for 2014 amounted to $480k, with combined costs of operating revenues and expenses amounting to $488k. Clearly, our expenses ballooned out of control, stemming mainly from payroll, which amounted to over +40% of our total operating expense. Thankfully, through personnel changes and cost cutting measures, we have made great strides towards improving the financial health of the USJA.

Since February, the USJA has reduced expenses, improved office efficiency, and regained lost revenue through an improved membership retention system. These efforts combined have allowed us to achieve cash on hand of almost $55k through the end of August, which is already an 8% increase over our year ending balance in December. So far, 2015 has been financially profitable and through continued focus on cost control and membership growth, the remainder of the year should prove to be successful.

As with any company experiencing significant change, our short term profitability this year may feel fragile. However, the underlying expense controls and overall management have afforded the USJA the ability to weather the ups and downs of everyday business. By following our improved business changes, the USJA is on track to have a great 2015 and beyond.

Sincerely,

Mark Tamulionis
USJA – Treasurer

2014 USJA Financials Commentary

2014_1231 FS Signed USJA

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