IJA Financial Statement
December 31, 1999

Note: Amounts in color have been corrected from previously published versions. The previous errors were due to the failure to include the final audited inventory figures in the statements and the omission of the liabilities for taxes not paid by 12/31/99.

                                 Balance Sheet
                               December 31, 1999
           
                                     ASSETS
           
Current Assets:
  Cash                               97,452.58  (note 17)
  Life Member Fund                   79,496.44
  Advances                            1,504.97
  Archival Fund                      32,134.57  (note 16)
  Inventory                          28,181.35
                                --------------
   TOTAL CURRENT ASSETS             238,769.91  (note 17)
           
Fixed Assets:
  Furniture and Fixtures              8,611.50
  Accum depre - F & F                -8,611.50
  Equipment                             725.16
  Accum. Deprc. Equipment              -725.16
                                --------------
   TOTAL ASSETS                     238,769.91  (note 17)
                                ==============
           
                              LIABILITIES & EQUITY
           
Liabilities: (note 8)
  Accrued Expenses FWT/FICA             679.12
  Accrued Expenses SWT                  175.08
                                --------------
   Total Liabilities                    854.20
           
Equity:
  Beginning Retained Earnings       170,474.88  (note 17)
  Current Period Profit (Loss)       67,440.83  (notes 8a, 17)
                                --------------
Total Equity                        237,915.71  (notes 8, 17)
                                --------------
TOTAL LIABILITIES & EQUITY          238,769.91  (notes 8, 17)
                                ==============
           
 
                                Income Statement
                    12 Month Period Ending December 31, 1999
           
INCOME:
  Affiliates                             75.00
  Niagara Falls 1999 Festival       185,643.72
  Winterfest 1999                     1,515.35
  Donations                             651.82
  Membership dues                    62,562.39
  Interest - General Fund             4,902.20  (note 5)
  JUGGLE ads                            185.00  (note 8d)
  Merchandise sold                    1,159.00
  JUGGLE back issues                    789.00
  Auction                             2,707.00
  Shipping                            2,604.20
  Video Sales                        17,809.15
           
   TOTAL INCOME                     280,603.83  (note 8d)
           
EXPENSES:
           
JUGGLE Magazine Expenses:
  Postage                             1,754.19  (notes 8c, 11)
  Printing                            2,787.64
  Professional services              13,356.25  (notes 8, 9)
  Telephone                             150.86
   Total JUGGLE Magazine Expenses    18,048.94  (note 8)
           
General Account Expenses:
  Insurance                           3,788.88
  Bank charges                          714.96
  Inventory change                   -4,251.40
  Office Supplies                     2,220.16
  Miscellaneous                         243.18
  Postage                             6,926.53  (note 12)
  Printing                            1,326.97
  Employee/employer taxes, State/Fed  5,590.12
  Professional services               5,655.16  (note 14)
  Travel expenses                       865.00  (note 15)
  Video Expense                       7,966.54
  Salaries                           13,856.88  (note 13)
  Telephone                           8,337.00  (note 6)
   Total General Expenses            53,239.98
           
Winterfest 1999 Expenses:
  Telephone                              50.44
  Travel expenses                     2,277.55
   Total Winterfest 1999 Exp          2,327.99
           
Primm Nevada 1998 Festival Expenses:
  Miscellaneous                         296.45
  Postage                                30.00
  Travel expenses                       646.66
   Total Primm Nevada 1998 Fest Exp     973.11
           
Niagara Falls 1999 Festival Expenses:
  Advertising and promotion             405.00
  Bank Charges                        2,865.61  (note 4)
  Championships                       4,472.92
  Equipment rental                    3,597.77
  Facility                           28,489.10  (note 12)
  Insurance                           2,034.18  (note 10)
  Merchandise for resale              4,952.57
  Miscellaneous                       2,949.27
  Office Supplies                       667.94
  Postage                             4,563.23  (note 10)
  Printing                            7,699.86
  Professional services              11,940.00  (note 3)
  Telephone                           4,394.86  (note 10)
  Travel expenses                    30,018.38  (notes 3, 10)
  Employee/employer taxes, State/Fed  5,320.26  (note 10)
  Salaries                           12,595.04  (notes 10, 13)
   Total Niagara Falls 1999 Fst Exp 126,965.99  (note 12)
           
Montreal 2000 Festival Expenses:
  Insurance                           1,364.18
  Postage                               123.85
  Telephone                             760.86
  Travel expenses                       179.00  (note 3)
  Employee/employer taxes, State/Fed  2,881.58
  Salaries                            6,297.52  (note 13)
   Total Montreal 2000 Fest Exp      11,606.99  (note 10)
           
   TOTAL EXPENSES                   213,163.00  (note 8)
           
   NET PROFIT (LOSS)                 67,440.83  (notes 8, 17)
           

Notes for Financial Statements 1998-2001:

(1) (No longer applicable.)

(2) (No longer applicable.)

(3) Festival Professional Services and festival Travel Expenses (including room and/or board) include fees paid for some people in the following categories: Board of Directors (room/board only; from 1999 onward), Special guests (e.g., Historical Achievement Award winner), Festival Coordinator (under Prof. Services through 1998 only), Championships & Cascade of Stars directors, Guest workshop leaders, Workshops director, Stage managers, Graphic artist, Illustrator, Performers, Registrar, Security.

(4) Bank charges includes fees for processing credit card transactions.

(5) Interest paid was not recorded separately by fund before 2000. Starting in 2000, Archival Fund interest is recorded separately. Starting in 2001, Life Member Fund interest is recorded separately.

(6) Telephone charges for the board were grouped with general telephone expenses until July 2000.

(7) (No longer applicable.)

(8) The IJA uses a cash basis accounting method, showing expenses when paid and income when received. Accounts receivable and accounts payable are thus not included in this statement. To clarify the financial status, however, we note the following:

(8a) As of 12/31/1999, there was $23,428 due but not yet paid for JUGGLE Magazine Professional Services. If an accrual basis were used for IJA accounting instead of a cash basis, JUGGLE Magazine Professional Services would be increased by $23,428 in 1999 and decreased by $23,428 in 2000, with the effect that profit would be $23,428 lower for year 1999 and $23,428 higher for year 2000.

(8b) (No longer applicable.)

(8c) As of 12/31/1999, there was $4,332 due for JUGGLE but not yet paid for labeling, polybagging, copyrighting, mailing and overage printing charges; that amount is included as paid under 2000 JUGGLE Professional Services.

(8d) As of 12/31/1999, there was income due but not yet received for: JUGGLE ads $2,920; JUGGLE wholesale $411; and JUGGLE buy backs $543; the total amount of $3,875 is included as a negative portion under 2000 JUGGLE Professional Services.

(8e) (No longer applicable.)

(9) The 1999 JUGGLE Magazine Professional Services expense was reduced because of accrued late-publication penalties of $7,500 and by non-payment of $23,428 because of two skipped JUGGLE issues.

(10) For the version of these statements printed in The Insider for Jan/Feb 2001, to save space the 2000 Montreal festival expenses incurred in 1999 were combined with same category Niagara Falls expenses incurred in 1999. Here the two festivals' 1999 expenses are detailed separately.

(11) The 1999 JUGGLE Magazine Postage amount of $1,754.11 is for mailing the roster.

(12) The 1999 amounts for the following items are printed incorrectly in The Insider for Jan/Feb 2001 but are correct here: General Account Postage, Niagara Falls 1999 Festival Facility, and Total Niagara Falls 1999 Fst Exp.

(13) The Secretary/Treasurer and the Festival Coordinator became IJA employees in August of 1998, before which time they were independent contractors. Fees paid to the Secretary/Treasurer and the Festival Coordinator for service through 12/31/1998 are listed under Professional Services; fees paid them for service beginning 1/1/1999 are listed under Salaries.

(14) Professional Services under General Expenses includes fees paid for people in the following categories: Secretary/Treasurer (through 1998), Chief Administrative Officer, legal advisor, consultant, accountant.

(15) Through 1998, General Account Travel Expenses (including room and/or board) includes costs of festival room and board for the Board of Directors and half of the travel/room/board costs for the Chief Administrative Officer. In subsequent years, all these costs are shown under Festival Travel Expenses.

(16) In 1999, some Archival Funds were used to bring a popular juggling collection to the Niagara Falls festival for display in the history lounge.

(17) For IJA Balance Sheets from 1992 through 2000, each year-end balance of cash in Canadian dollars that the IJA held in a Canadian bank was mistakenly added to US dollar amounts held in other accounts. That is, the Canadian dollar amounts were not converted to US dollar amounts before being added to US dollar amounts. This caused the total Cash amount shown on each such year-end Balance Sheet to be higher than the correct total Cash. This also caused incorrect annual Profit/Loss amounts to be reported. The amount of the error in total year-end Cash ranged approximately from $400 to $2000 during the period 1996 to 2000. Year-to-year changes in this Cash error amount were adjusted for in the annual Income Statements with items under Income or Expenses called "Canadian Exchange" which were included to make the books "balance." This mistaken form of foreign-cash bookkeeping was used during this period at the recommendation of the IJA's accounting firm. So that Balance Sheets from 2001 onward will be correct, the Beginning Retained Earnings on the 12/31/2001 Balance Sheet has been adjusted from the reported 12/31/2000 Equity of $201,616.88 (which it would normally match) by subtracting $606.42 (the amount of the error in total Cash as of 12/31/2000). The resulting reported 2001 Beginning Retained Earnings represents the correct Equity of the IJA as of 1/1/2001. No total Cash errors appear after year-end 2000, and no "Canadian Exchange" items appear after year 2000.

(18) NET PROFIT (LOSS) LESS MEMBER PAYMENTS TO LIFE MEMBER FUNDS is calculated by subtracting from NET PROFIT (LOSS) the payments into the life member funds that totaled $6,133.00, which represents (a) donations from life members to strengthen the original life member fund and (b) fees from new life member(s). The life member funds are intended to support membership services for life members in future years and increases to these funds do not represent pro forma profit to the organization.