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A Budget That Draws Down Its Own Reserves

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A Budget That Draws Down Its Own Reserves

This article records tradition as it has been passed down and reported. Its sources are not yet part of the atlas's verified catalogue.

AFSC's most recent audited financial statements report total operating revenues of 41,149,804 US dollars against total expenses of 43,836,937 US dollars for the fiscal year ended 30 September 2024, with total net assets of 161,857,981 US dollars at year end. Expenses outpaced revenue that year by nearly 2.7 million dollars, meaning the organization drew down a portion of its accumulated reserves rather than covering the year's spending from income alone, a pattern a reader can find only by comparing the two headline figures against each other rather than reading either one in isolation.

That single year's shortfall sits inside a much larger, geographically spread operation: headquartered in Philadelphia, Pennsylvania, with four US regional offices, thirty-two area offices, two branch offices and sixteen international project offices, funded primarily through charitable contributions, grants and bequests from individuals, corporations and foundations rather than government contracts. A footprint of that size, dozens of physical offices spanning international and domestic programs plus a Global Cohesion initiative, costs money to sustain in a year when contributions fall short of it, and the 2024 deficit is what that cost looks like on the one balance sheet that gets audited.

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Sources
American Friends Service Committee: Financial Statements and Report of Independent Certified Public Accountants, September 30, 2024 and 2023
American Friends Service Committee; audited by Tait, Weller & Baker LLP, American Friends Service CommitteeView the Source
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