AARP Summary of 2008 AARP Consolidated Financial Statements
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AARP 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 Revenue 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 Juventud. 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.