Summary of 2008 AARP Consolidated Financial Statements
The following summary financial Expenses AARP’s balance sheet reflected a
information is derived from the AARP contained 2008 operating decline in net assets, mainly due
expenses to $1.14 billion, down 2 to unrealized losses relating to
consolidated statements of activities
percent from 2007. AARP continued investments as well as certain post-
and financial position of AARP and
to invest in member value and retirement benefit costs. However,
its affiliates for the year ending social impact areas in furtherance the core operations of AARP
December 31, 2008. of its mission. For example, $114 continued to be strong and provided
million was invested in membership an increase in cash of $146 million
development and $284 million was over the prior year.
AARP’s total operating revenue
invested in member services.
in 2008 reached just over $1.08 AARP continues to be strong and
billion. Royalty revenues rose Programs and field services of $298 well-positioned to advance our
from the prior year to $653 million million included expenditures for mission of enhancing the quality of
while membership dues ($249 work-training, tax assistance and life for all of us as we age.
million) and publication advertising driver safety programs, support
revenues ($120 million) remained of our state offices, as well as our The complete AARP 2008 Audited
relatively stable. Even though the Divided We Fail initiative, promoting Financial Statements are available
nationwide downturn in investment health reform and financial security. on the Internet at www.aarp.org
markets hit AARP with losses of $175 Our publications expenditures of
million, AARP’s core operations $178 million supported educating
continued to be strong through and informing our members
strategic cost-containment efforts. through AARP The Magazine, the
AARP Bulletin, and AARP Segunda
Recent changes in accounting
standards require the recognition of
certain post-retirement benefit costs,
which amounted to an unrealized
loss of $112 million in 2008.