Assets
Cash, cash equivalents, and restricted cash
29,985
39,700
Investments
329,865
319,851
Trade receivables, net
8,433
7,792
Pension assets reversion
41
3,067
Auto test inventory
2,925
3,545
Grants and other receivables
2,536
1,693
Prepaid expenses and other current assets
7,626
8,743
Total current assets
382,058
385,355
Property, equipment and software, net
50,317
47,715
Investments — long term
33,872
32,430
Right-of-use assets
802
958
Total assets
474,492
473,543
Liabilities and Net Assets
Current liabilities
2025
2024
Accounts payable and accrued liabilities
14,525
11,666
Accrued compensation
9,845
12,775
Deferred revenue
90,181
93,459
Current portion of operating lease liabilities
236
19
Current portion of long-term debt
0
1,775
Total current liabilities
114,787
119,694
Deferred revenue — long term
9,834
10,604
Operating lease liabilities
773
920
Other liabilities
17,732
18,126
Total liabilities
143,126
176,474
Net Assets
Without donor restrictions
325,592
294,221
With donor restrictions
5,774
2,848
Total net assets
331,366
297,069
Total liabilities and net assets
474,492
473,543
Change in net assets without donor restrictions
Revenue and support
Subscriptions, newsstand, and other sales
208,333
209,955
Contributions
32,531
29,028
Net assets released from restrictions
3,558
7,558
Total revenue and support
244,422
246,541
Publication, promotion, and marketing expenses
Content development
97,444
96,362
Production and distribution
42,977
48,208
Promotion and marketing
56,173
61,460
Total publishing, promotion, and marketing
196,594
206,030
Consumer advocacy and education
12,164
16,250
General and administrative
24,916
31,069
Fundraising
10,536
10,718
Total operating and other expenses
244,210
264,067
Total operating gain (loss)
212
(17,526)
Investment gain, net
31,984
43,659
Realized & unrealized gain on interest rate swap
0
912
Change in value of split-interest agreements
(389)
(252)
Pension-related changes other than net periodic pension cost
(436)
(5,126)
Total nonoperating gain
31,159
39,193
Increase in net assets without donor restrictions
31,371
21,667
Change in net assets with donor restrictions
Grants received
6,396
3,065
Net assets released from restrictions
(3,558)
(7,558)
Change in value of split-interest agreements
88
(45)
Increase (decrease) in net assets with donor restrictions
2,926
(4,538)
Increase in net assets
34,297
17,129
Net assets at beginning of year
297,069
279,940
Net assets at end of year
331,366
297,069
Pursuant to Section 519 of the New York Not-For-Profit Law, the total number of Members of the Corporation as of May 31, 2025 is 4,590,452. This is approximately 5% fewer members than on May 31, 2024. 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.