FW: LNC Financial Statements- August 2025

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Sep 30, 2025, 10:44:26 AMSep 30

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From: Bill Redpath <bill.r...@lp.org>
Sent: Tuesday, September 30, 2025 2:44:09 PM (UTC+00:00) Monrovia, Reykjavik
To: LNC Board <lncb...@lp.org>; LNC Public <lnc-p...@lp.org>; lnc-public_forward <lnc-publi...@lp.org>
Subject: LNC Financial Statements- August 2025

Attached please find the Libertarian National Committee, Inc. financial statements, as of August 31, 2025.

Due to Joint Fundraising Committee (JFC) impacts on the financial statements on Pages 5, 9 & 10 (because of Cash that is included that will be expended on liabilities of the Kennedy Victory Fund), it is best to focus on the balance sheet data at the bottom of Page 3. Once all JFC-raised funds have been expended by the LNC, there will be no difference between the Page 3 balance sheet and the more detailed balance sheet.

Due to the closing of the sale of the David A. Nolan Building at 1444 Duke St., Alexandria, VA, in August (with Net Proceeds to the LNC of $633,322), Total Cash (net of any Joint Fundraising Committee liabilities) was at $750,182, which included Temporarily Restricted Cash of $1,730.

It is my understanding, in consultation with FEC consultant Paula Edwards, that all of the net proceeds from the building sale are available to be used by the LNC as it so desires and directs.

Another highlight on the August month end balance sheet is credit cards, now paid down to only $3,346, after being as high as $85,072 earlier this year.

The increase in “Deferred Liabilities” is due to Cash being received for 2026 Convention packages. Revenue from those packages cannot be recognized until May 2026, when the convention occurs, so that cash is recognized as a “liability” until then.

The August 2025 income statement is summarized on Page 4, with greater income statement detail on Pages 6, 7 & 8.

Total Revenue for August was the highest monthly revenue Year-to-date at $89,461, which was above the budgeted amount of $75,000. This was due to a maximum donation of $44,300 from one LP member. Otherwise, August Total Revenue would have been $45,161.

Total revenue for January through August was $597,010, well below the budgeted amount of $780,000.

August Expenses totaled $153,950, however $82,232 was a non-cash expense, which was a financial reporting loss on the sale of the building. The $82,232 figure was derived from the sale amount minus the adjusted cost (original cost minus accumulated depreciation over the years of ownership) of the building on the LNC’s financial statements, as of the end of July 2025. The loss is attributable to the current market for commercial office space in Alexandria and the condition of the building.

Net Income in August was -$64.489, but would have been a positive $17,743, but for the recognized loss on the sale of the building. YTD Net Income was $-113,681, but would have been -$31,449, but for the building loss.

Without the max donation and the building loss, August Total Revenue would have been $45,161 and August Total Expenses would have been $71,718, for Net Income of -$26,557. Five figure monthly Net Losses are likely to continue without revenue or expense adjustments.

FEC reports have been filed on a timely basis by Paula Edwards, the LNC’s FEC consultant, and all other FEC inquires have been answered on a timely basis.