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REVENUE AND EXPENSES 2020
2020 was a challenging year for the AACR due to the global pandemic and the resulting economic uncertainty. The impact of COVID-19 on AACR programs and services resulted in declines in both operating revenues and expenses. Due to responsible financial oversight and prudent risk management strategies, the AACR is projected to generate a surplus for the year. Strong returns from the organization’s investments coupled with additional income from non-recurring activities related to meeting event cancellation insurance contributed to this projected surplus.
As a result of the financial performance for the year 2020, the AACR’s unrestricted net assets are now $117 million. The positive financial results allow the AACR to continue strategic investments in its mission-driven activities to prevent and cure all cancers.
2020 TOTAL EXPENSES
2020 PROGRAM EXPENSES
American Association for Cancer Research, Inc. and the AACR Foundation
Unrestricted Revenues and Expenses (Unaudited)
As of December 31, 2020
| 2019 | 2020 | 2020 Percent of Total | ||||
| REVENUE | ||||||
| Membership Dues | $4,468,939 | $4,208,025 | 5% | |||
| Publications | $19,250,027 | $19,089,129 | 22% | |||
| Scientific Meetings and Educational Workshops | $27,268,248 | $3,178,862 | 4% | |||
| Other Revenue | $5,409,856 | $9,812,709 | 11% | |||
| Subtotal Program Revenue | $56,397,070 | $36,288,725 | 42% | |||
| Support | ||||||
| NIH Grants | $1,014,481 | $115,500 | 0% | |||
| Contributions | $67,994,711 | $50,859,941 | 58% | |||
| Subtotal Support Revenue | $69,009,192 | $50,975,441 | 58% | |||
| TOTAL REVENUE | $125,406,262 | $87,264,166 | 100% | |||
| EXPENSES | ||||||
| Research Grants and Scientific Awards | $59,736,868 | $45,132,817 | 46% | |||
| Scientific Meetings and Educational Workshops | $21,056,320 | $11,503,963 | 12% | |||
| Scientific Publications | $12,751,100 | $12,850,826 | 13% | |||
| Communications, Science Policy, and Patient Education | $8,723,784 | $7,280,130 | 7% | |||
| Professional Education and Scientific Programs | $7,539,398 | $11,125,064 | 11% | |||
| Subtotal Program Services | $109,807,470 | $87,892,800 | 89% | |||
| Member Services and Support Services | $8,454,537 | $6,550,552 | 7% | |||
| Fundraising and Development | $4,212,569 | $4,354,087 | 4% | |||
| Subtotal Supporting Services | $12,667,106 | $10,904,639 | 11% | |||
| TOTAL EXPENSES | $122,474,576 | $98,797,439 | 100% | |||
| Operating Surplus before Investments | $2,931,686 | ($11,533,273) | ||||
| Other Changes | ||||||
| Investment Income/(loss) | $16,149,737 | $21,425,826 | ||||
| Nonrecurring Items | $0 | $16,467,291 | ||||
| Subtotal Other Changes | $16,149,737 | $37,893,117 | ||||
| Change in Unrestricted Net Assets | $19,081,423 | $26,359,844 | ||||
| NET ASSETS BEGINNING OF YEAR | $71,956,328 | $91,037,751 | ||||
| NET ASSETS END OF YEAR | $91,037,751 | $117,397,595 |