Sections
In 2023, the AACR reported another year of positive operating returns. This financial stability enables the AACR to comprehensively meet the challenges of the cancer problem. Operating revenues totaled $83.9 million and total expenditures closely matched revenues. The net impact of revenues and expenses resulted in an operating surplus of $402,000. As outlined in this report, several major projects were launched in 2023, and the AACR was able to outperform the budget through successful programming, revenue growth, and prudent financial management.
Non-operating activities are primarily related to long-term investments. The AACR’s investments outperformed comparable market indexes in 2023 and provided strong returns in the amount of $24.1 million. The strong returns in 2023 also enabled the organization to recover most of the losses reported in 2022.
As a result of its financial performance for the year 2023, the AACR’s unrestricted net assets are now $153 million. These reserves ensure continued investment in the programs and initiatives that support the AACR’s mission to prevent and cure all cancers.
Unrestricted Revenues and Expenses (Unaudited)
As of December 31, 2023
| 2022 | Projected 2023 | 2023 Percent of Total | ||||
| REVENUE | ||||||
| Membership Dues | $4,474,214 | $4,356,243 | 5% | |||
| Publications | $19,181,154 | $19,328,007 | 23% | |||
| Scientific Meetings and Educational Workshops | $25,827,973 | $31,927,747 | 38% | |||
| Other Revenue | $2,987,804 | $3,236,867 | 4% | |||
| Subtotal Program Revenue | $52,471,145 | $58,848,864 | 70% | |||
| Support | ||||||
| NIH Grants | $780,964 | $428,400 | 1% | |||
| Contributions | $33,422,649 | $24,642,574 | 29% | |||
| Subtotal Support Revenue | $34,203,613 | $25,070,974 | 30% | |||
| TOTAL REVENUE | $86,674,758 | $83,919,838 | 100% | |||
| EXPENSES | ||||||
| Research Grants and Scientific Awards | $25,056,116 | $17,082,194 | 20% | |||
| Scientific Meetings and Educational Workshops | $20,045,833 | $22,125,516 | 26% | |||
| Scientific Publications | $13,050,911 | $13,386,698 | 16% | |||
| Communications, Science Policy, and Patient Education | $8,764,853 | $9,095,172 | 11% | |||
| Professional Education and Scientific Programs | $7,104,535 | $8,384,120 | 10% | |||
| Subtotal Program Services | $74,022,248 | $70,073,700 | 84% | |||
| Member Services and Support Services | $7,072,327 | $7,960,273 | 10% | |||
| Fundraising and Development | $3,695,103 | $5,483,594 | 7% | |||
| Subtotal Supporting Services | $10,767,430 | $13,443,867 | 16% | |||
| TOTAL EXPENSES | $84,789,678 | $83,517,567 | 100% | |||
| Operating Surplus before Investments | $1,885,080 | $402,271 | ||||
| Other Changes | ||||||
| Investment Income/(loss) | ($29,221,650) | $24,180,712 | ||||
| Nonrecurring Items | $0 | $0 | ||||
| Subtotal Other Changes | ($29,211,650) | $24,180,712 | ||||
| Change in Unrestricted Net Assets | ($27,336,570) | $24,582,983 | ||||
| NET ASSETS BEGINNING OF YEAR | $155,579,440 | $128,242,870 | ||||
| NET ASSETS END OF YEAR | $128,242,870 | $152,825,853 |
