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Independent Auditors' Report

To the Board of Directors
American Music Therapy Association, Inc.
National Music Therapy Registry
Silver Spring, MD

We have audited the accompanying combined financial statements of the American Music Therapy Association, Inc. (AMTA) and the National Music Therapy Registry (NMTR), which comprise the combined statement of financial position as of June 30, 2018, and the related combined statements of activities and change in net assets, functional expenses and cash flows for the year then ended, and the related notes to the combined financial statements.

Management’s Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these combined financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation and maintenance of internal control relevant to the preparation and fair presentation of combined financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express an opinion on these combined financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the combined financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the combined financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the combined financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the combined financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the combined financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the combined financial statements referred to above present fairly, in all material respects, the combined financial position of AMTA and NMTR as of June 30, 2018, and the combined change in their net assets and their combined cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America. 

 

Gelman Rosenberg & Freedman

October 31, 2019

 


 

AMERICAN MUSIC THERAPY ASSOCIATION, INC.
NATIONAL MUSIC THERAPY REGISTRY
 
COMBINED STATEMENT OF FINANCIAL POSITION
AS OF JUNE 30, 2019
 

ASSETS

    Current Assets

 

    Cash and cash equivalents
Investments
Accounts receivable, less allowance for doubtful accounts in the amount of $31,981
Prepaid expenses

$ 148,525
709,923
67,123
59,299

         
   

Total current assets

984,870

       
    Fixed Assets  
    Furniture
Equipment and website
Leasehold improvements

33,808
92,187
32,596

         
   
Less: Accumulated depreciation and amortization

158,591
(154,347)

         
   

Net fixed assets

4,244

         
    Other Assets    
   
Deposits
5,952
   
 
 

 

   

TOTAL ASSETS

$995,066

     
   

LIABILITIES AND NET ASSETS

       
    Current Liabilities

 

   
Accounts payable
Accrued payroll and employee benefits
Deferred revenue:
  Membership dues
  Subscriptions
  Conference revenue
Deferred rent, current portion
 
 
Total Current Liabilities
 

$ 45,648
59,007

326,943
16,898
22,001
         901

 

471,398

   
Long-Term Liabilities
Deferred rent, net of current portion
 
Total Liabilities
 
 
 

   32,012

503,410
    Net Assets    
   

Without donor restrictions:
      Undesignated
      Board designated

             Total without donor restrictions

With donor restrictions


144,981
50,000

194,981

296,675

         
   

Total net assets

491,656

         
   

TOTAL LIABILITIES AND NET ASSETS

$995,066

         
 
 
 
AMERICAN MUSIC THERAPY ASSOCIATION, INC.
NATIONAL MUSIC THERAPY REGISTRY
 
COMBINED STATEMENT OF ACTIVITIES AND CHANGE IN NET ASSETS
FOR THE YEAR ENDED JUNE 30, 2019

 

 
         
    Revenue

Total

   
Membership dues
Registration
Grants and donations
Subscriptions, publications and other products
Conference and courses
Other revenue
In-kind contributions
Investment income, net
Net assets released from donor restrictions
$744,079
18,735
71,254
212,248
737,715
8,066
23,137
19,864
   -- 
         
   

Total revenue and support

1,835,098

         
         
    Expenses

 

    Program Services:  
   
Annual Conference
Government Relations
Regions
Publications
Public Affairs
Council on Education and Training
Grants and Trusts
Scholarship Program
Trade Show
Dallas Retreat (21st Century Commission)

 

Total Program Services

Supporting Services
     Management and General
     Member Services
     Fundraising
     National Music Therapy Registry
 
Total supporting services
 
Total Expenses
 
Changes in net assets before other item
 
Other Item
     Unrealized gain
 
Change in net assets
 
Net assets at beginning of year
 
NET ASSETS AT END OF YEAR
$473,874
299,895
140,237
89,282
88,741
80,659
61,299
9,425
4,762
4,439
 
1,252,613
 

639,867
166,295
17,624
5,695
 
 
829,481
 
2,082,094
 
(246,996)
 
 
12,097
 
(234,899)
 
726,555
 
491,656
         
 
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