2009 Financial Statement
Edgar Cayce’s Association for Research and Enlightenment, Inc. (A.R.E.) is a nonprofit, tax-exempt 501(c)(3)
corporation funded primarily by the generosity of our members. We strive to use our funds as efficiently as
possible, illustrated by the fact that 89.7% of our operating expenses went directly to program services while 5.8%
went to support services and 4.5% to fundraising. The data is from independently audited financial statements.
Sales are net of cost of goods rather than gross sales.
Challenges in the economy have had a major impact on organizations and individuals throughout the world. In
spite of this economic downturn, the organization was able to maintain all of its programs and services. According
to CEO Kevin J. Todeschi, the positive news is, “The A.R.E. has done a very good job managing the economic
crisis, and our members have been extremely helpful during this time. In fact, our members increased their total
contributions by an amazing 25% over the year before.”
In the midst of these financial challenges, the A.R.E. was still able to grow and innovate – especially with
technology. On average, 150,000-200,000 unique visitors now go to the A.R.E.’s Web site every month, and
program offerings have been expanded onto DVD, CD, online content, and YouTube videos. Additionally, the
A.R.E. has expanded outreach through social networking Web sites and a weekly internet radio show
(EdgarCayce.org/radio). Atlantic University also plans to debut a fully online education platform in the second-half of 2010.
In terms of how members have helped the organization financially, the 2009 results were as follows:
- Over 5,000 of our 28,000 members were also donors
- Total cash contributions to the A.R.E. were 25 percent more in 2009 than in 2008
- Nearly 500 individuals were Golden Circle members (donors of $1,000 or more)
- There were 240 members of the Edgar Cayce Legacy Society (individuals who have the organization
in their wills or estate plans)
| 2009 REVENUES* |
| Sales |
$1,267,865 |
| Fees and Tuition |
$2,495,283 |
| Memberships |
$1,165,541 |
| Contributions |
$2,109,766 |
| Other Income |
$654,975 |
| Total Revenues |
$7,693,430 |
| 2009 EXPENDITURES* |
| Program Services |
$7,189,322 |
| Support Services |
$468,704 |
| Fundraising |
$358,944 |
| Total Expenditures |
$8,016,970
|
*Independently audited financials.
Note: Sales are net of cost of goods rather
than gross sales.