ACBL Board of Governors Financial Update July 21, 2019

2019 Operations Year-to-Date Revenues Up $204K versus budget Regional table count 1.6% over budget TD Session and Tournament Sanction Fees exceeded budget by 1.1% and 3.3%, respectively Increase due to NABC ($54K) and bulletin sales/advertising ($68K) and sponsorship and Regionals at Sea ($22K) and Education programs ($18K) Total TD Session and Tourn Sanction fees: $2.3M 34 more tournaments than budgeted 14 less sessions

2019 Operations Year-to-Date Expenses $124K under budget Lower IT costs ($96K) Meeting Services $57K over budget Includes $44K in NABC Memphis expenses Field Operations $37K over budget Executive expense $22K under budget due to open positions not filled until later in the year Editorial costs up $18k was offset by revenue increase in bulletin

2019 Operations Year-to-Date Net Assets Slightly higher revenues offset by slightly lower expenses $572K positive change, $328K better than budgeted Operations only.

2019 Projections Revenues from operations $204K over budget Increase in NABC events Increase in bulletin & advertising Continued flat Membership NABC increase - $54K Bulletin increase - $69K Education programs increase - $18K

2019 Projections Expenses from operations $29,000 over budget Field operations over $33K Tournament directors majority of overage Continued lower IT costs ($96K under)

2019 Projections Expenses (cont.) Meeting Services $126K over budget Memphis $44K over Las Vegas estimated $70K over Professional fees of $200K (not a budgeted item) On-going litigation with estimated fees of $200-300K over insurance

2019 Projections Net Assets Projected income from operations of $791K 4% more than budgeted

2019 Capital Expenditures $230K approved budget $3K spent to date $70K to replace ½ of HQ roof not started $73K website costs for marketing Several IT projects scheduled to begin before year-end

Balance Sheet Combined Cash and Investments totaled $7.7MM, in-line with 2018 Net Assets increased $1MM since 12/31/2018 Net asset increase due to approx. $500k in gain on investments