The Film Academy’s Annual Report Shows Assets Way Up, But Bond Proceeds Going Fast
by Gobrowseam |
Minutes Read
Minutes Read
The Academy of Motion Picture Arts and Sciences on Friday sent members its annual report for the fiscal year ended June 30, 2018, along with a video review of the year. As predicted, the big number was really big: Total assets of the nonprofit rose to $1,073,953,000, up almost 12 percent from 961,531,100 a year earlier. Liabilities fell to $411,879,000 from $418, 657,300; so the gain in net assets was a handsome 22 percent, to $662,104,000 from $542,873,800.
![Academy of Motion Picture Arts and Sciences]()
Looking a little deeper, it’s clear that last year’s Oscar ratings decline didn’t stop show revenue from growing. Returns from the Academy Awards totaled $131,774,000, up more than 7 percent from $122,887,500 in 2017. Awards-related expense rose slightly, to $41,254,800 from $40,825,300. That means Oscars are still a solid money-maker, notwithstanding the many glitches and complaints of late.
Total expenses were up some, to $106,557,600 from $100,919,600. The increase came mainly from a boost in spending on museum development, to $12,980,000 from $8,573,900. But administrative expense actually fell a bit, to $15,343,400 from $16,733,900, which is something of surprise, given the growth in membership and expanding effort to connect with those abroad.
Debt at the end of the fiscal year was $353,236,700, thanks to the earlier issuance of so-called “Oscar bonds” to fund construction of the movie museum, which is still a work in progress. Interest payments were $11,905,700 for the year. Bond funds held by the Academy’s trustee as of last June 30 were $73,121,900, down more than half from $159,114,800 a year earlier; so the proceeds of that offering are going fast.
Looking a little deeper, it’s clear that last year’s Oscar ratings decline didn’t stop show revenue from growing. Returns from the Academy Awards totaled $131,774,000, up more than 7 percent from $122,887,500 in 2017. Awards-related expense rose slightly, to $41,254,800 from $40,825,300. That means Oscars are still a solid money-maker, notwithstanding the many glitches and complaints of late.
Total expenses were up some, to $106,557,600 from $100,919,600. The increase came mainly from a boost in spending on museum development, to $12,980,000 from $8,573,900. But administrative expense actually fell a bit, to $15,343,400 from $16,733,900, which is something of surprise, given the growth in membership and expanding effort to connect with those abroad.
Debt at the end of the fiscal year was $353,236,700, thanks to the earlier issuance of so-called “Oscar bonds” to fund construction of the movie museum, which is still a work in progress. Interest payments were $11,905,700 for the year. Bond funds held by the Academy’s trustee as of last June 30 were $73,121,900, down more than half from $159,114,800 a year earlier; so the proceeds of that offering are going fast.
