As delivered to the LNC at the end of September:
From: Bill Redpath
To: LNC Board <lncboard@lp.org>
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.
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