— Tina C., Treasurer, General Service Trustee
Well, 2020 was quite the year, and 2021 is continuing on the same path: from a financial point of view, OA is in “fit fiscal condition!”
Outstanding 2020 Audit Results
As a nonprofit corporation, Overeaters Anonymous, Inc. is required to have a yearly audit. I am extremely pleased to note that, thanks to our excellent accounting department, OA had an outstanding audit. The auditors noted that OA has strong internal financial controls; that our competent World Service Office staff continues to use appropriate accounting procedures; that there were no accounting discrepancies or concerns; and that our balance sheet is extremely healthy, with more than adequate reserves. In addition, OA is fiscally stronger than most comparable nonprofits. Kudos to our great staff!
A Budget Surplus
And the fit fiscal condition goes on! In addition to the excellent audit results, we received the final figures for our 2020 fiscal year. After all the checks and balances, debits and credits, OA ended 2020 with a net profit of US$488,751. This is the third consecutive year that OA has recorded a substantial profit, which is allowing OA to continue pursuing exciting projects.
Many New Initiatives
We saw evidence of this surplus throughout 2020. Your contributions to the general fund (in which money can be used whenever and wherever, as needed) totaled US$948,957! Because of your generous contributions, OA has been able to reach out in many ways to the compulsive overeater who still suffers. Additional funding has been made available for translations; we have continued to improve the OA website and bookstore, including Find a Meeting, which will continue to expand; new attraction advertising has been developed for the internet and deployed online; podcasts for young persons and OA holiday workshops were created; and more! These and other projects will continue, and new projects will begin in 2021.
Well-Funded Designated Funds
There’s still further evidence of OA’s fit fiscal condition: OA members contributed US$26,114 to our designated funds—those for which members specify how they would like their donation to be used. The totals of these funds are:
- Translation Assistance Fund—US$9,159.44
- Professional Exhibits Fund—US$14,821.80
- Delegate Support Fund—US$35,680.84
Since large face-to-face gatherings, both inside and outside OA, have been on hold since early 2020, we have not been able to distribute any funds for delegate support. As a result, the Delegate Support Fund has enough money to carry us through WSBC 2023. Because of this, the Executive Committee has put a temporary freeze on member contributions to this designated fund. Members are invited to continue contributing to the Professional Exhibits Fund, the Translation Assistance Fund, or the general fund. Thank you for your continued support.
Mixed Results for Literature Sales
Even fit fiscal condition requires some fine-tuning: hard-copy literature sales were down in 2020. But for the first time in several years, digital book sales were up! OA continues to develop and provide excellent literature that aids in all aspects of recovery. Links to all our e-books have been added to the OA bookstore at bookstore.oa.org, so visit today to see what is available in paper or digital formats. Purchasing OA literature is yet another important way to contribute to our Seventh Tradition.
Looking to the Future
Any journey to reach fit fiscal condition requires careful and continuous planning. After detailed discussions between trustees and WSO managers, a prudent 2021 budget of US$1,812,400 was approved in November 2020. With your continued generosity and the careful direction of staff and trustees, we are confident that OA will again have a balanced budget, if not a net surplus, in 2021.
2020 is in the past, and most of 2021 is in the future. For today, we have a wondrous recovery program and fellowship called Overeaters Anonymous. Thanks to your ongoing support and contributions, OA continues to reach out to the still-suffering compulsive eater inside and outside the rooms. Together we can and we will!
Thank you for allowing me to have the privilege of being the BOT Treasurer.