ASM Finances
Operating Revenues
Operating Revenue 2021
ASM operating revenue, which excludes investment return, is earned across numerous revenue-producing activities. Excluding grants, ASM largest source of revenue in 2021 was journal subscription sales, followed by journal article fees, membership dues, meeting registration fees and meeting exhibitor fees. Grant revenue, which is derived from federal and non-federal sources, varies from year to year and has averaged approximately $8,500,000 per year since 2013. The relative percentage of each revenue stream to total operating revenue for ASM most recent fiscal year is noted above.
Financial Reports
Audited Financial Statements
ASM financial statements are audited by an independent audit firm at the conclusion of each fiscal year. These audits include procedures performed in accordance with Government Auditing Standardsin years when ASM expenditures of federal awards exceed certain thresholds. ASM financial statements include the accounts of ASM Resources, Inc., ASM wholly-owned for-profit subsidiary.
IRS 990 Filings
The IRS Form 990 is the annual federal information return filed by all charitable corporations that are exempt from income tax. As a 501(c)(3) organization, ASM is required to file a Form 990. In addition to Form 990, ASM is required to file form 990T to report any unrelated business income. Information in these returns is presented in accordance with IRS regulations, which in some cases are at variance with generally accepted accounting principles.
ASM Finances
Established in 1899, incorporated on March 25, 1974, and reincorporated on Feb. 27, 1991, under the laws of the District of Columbia, ASM mission is to promote and advance the microbial sciences. ASM is exempt from federal income tax as an organization, which is not a private foundation described in Section 501(c)(3) of the Internal Revenue Code. Taxes are paid on net income earned from sources unrelated to ASM exempt purpose. ASM operates on a Dec. 31 fiscal year.
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