Assets
Cash, cash equivalents, and restricted cash
39,700
18,428
Investments
319,851
325,635
Trade receivables, net
7,792
6,379
Pension assets reversion
3,067
0
Auto test inventory
3,545
3,367
Grants and other receivables
1,693
2,971
Prepaid expenses and other current assets
8,743
8,324
Total current assets
385,355
366,345
Property, equipment and software, net
47,715
53,426
Investments — long term
32,430
35,695
Right-of-use assets
958
239
Total assets
473,543
462,112
Liabilities and Net Assets
Current liabilities
2024
2023
Accounts payable and accrued liabilities
11,666
12,807
Accrued compensation
12,775
10,775
Deferred revenue
93,459
93,693
Current portion of operating lease liabilities
19
239
Pension obligations
0
4,478
Current portion of long-term debt
1,775
1,725
Total current liabilities
119,694
123,717
Deferred revenue — long term
10,604
11,043
Liability under derivative instrument
0
1,628
Long-term debt
27,130
28,890
Operating lease liabilities
920
0
Other liabilities
18,126
16,894
Total liabilities
176,474
182,172
Net Assets
Without donor restrictions
294,221
272,554
With donor restrictions
2,848
7,386
Total net assets
297,069
279,940
Total liabilities and net assets
473,543
462,112
Change in net assets without donor restrictions
Revenue and support
Subscriptions, newsstand, and other sales
209,955
213,390
Contributions
29,028
30,259
Net assets released from restrictions
7,558
7,008
Total revenue and support
246,541
250,657
Publication, promotion, and marketing expenses
Content development
96,362
90,169
Production and distribution
48,208
47,417
Promotion and marketing
61,460
60,571
Total publishing, promotion, and marketing
206,030
198,157
Consumer advocacy and education
16,250
17,684
General and administrative
31,069
26,372
Fundraising
10,718
11,416
Total operating expenses
264,067
253,629
Total operating loss
(17,526)
(2,972)
Net realized and unrealized gain (loss) on investments, net
43,659
(2,460)
Realized & unrealized gain on interest rate swap
912
1,114
Change in value of split-interest agreements
(252)
(110)
Pension-related changes other than net periodic pension cost
(5,126)
(1,822)
Total nonoperating gain (loss)
39,193
(3,278)
Increase (Decrease) in net assets without donor restrictions
21,667
(6,250)
Change in net assets with donor restrictions
Grants received
3,065
2,647
Net assets released from restrictions
(7,558)
(7,008)
Change in value of split-interest agreements
(45)
69
Decrease in net assets with donor restrictions
(4,538)
(4,292)
Increase (Decrease) in net assets
17,129
(10,542)
Net assets at beginning of year
279,940
290,482
Net assets at end of year
297,069
279,940
Pursuant to Section 519 of the New York Not-For-Profit Law, the total number of Members of the Corporation as of May 31, 2024, is 4,834,195. This is approximately 2.7% fewer members than on May 31, 2023. The names and places of residence of the current Members of the Corporation may be found at the Corporation’s offices in Yonkers, New York.