NATIONAL OILHEAT RESEARCH ALLIANCE, INC.
STATEMENTS OF ACTIVITIES
FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016
2017 2016
CHANGE IN UNRESTRICTED NET ASSETS
REVENUE AND GAINS/LOSSES
Assessments revenue, net of refunds $ 8,851,079 $ 8,604,725
Other income 112,484 47,008
Total revenue and gains/losses 8,963,563 8,651,733
EXPENSES
Program expenses:
Research, development, and demonstration 1,909,904 1,477,747
Heating oil efficiency and upgrade 1,331,227 1,373,239
Consumer education, safety, and training 2,665,042 2,757,703
Unallocated state rebates 1,818,717 2,042,506
Total program expenses 7,724,890 7,651,195
Administrative costs 219,188 248,101
General and special projects:
Assessment and collection costs 90,849 118,876
Annual report costs 52,754 40,199
Expenditures of pre-2014 reauthorization funds - 416,333
Total general and special projects 143,603 575,408
Total expenses 8,087,681 8,474,704
CHANGE IN UNRESTRICTED NET ASSETS 875,882 177,029
NET ASSETS, BEGINNING OF YEAR 4,282,546 4,105,517
NET ASSETS, END OF YEAR $ 5,158,428 $ 4,282,546
The accompanying notes are an integral part of these financial statements.
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