iso4217:USD 254900ARU0VC1WY6GJ71 2017-07-01 2018-06-30 254900ARU0VC1WY6GJ71 2017-06-30 254900ARU0VC1WY6GJ71 2017-06-30 254900ARU0VC1WY6GJ71 2016-07-01 2017-06-30 254900ARU0VC1WY6GJ71 2018-06-30 254900ARU0VC1WY6GJ71 2016-06-30

XBRL International, Inc

Financial Statements

June 30, 2018 and 2017

Contents

Independent Auditor's Report 3
Statements of Financial Position 4
Statements of Activities 5
Statements of Cash Flows 6
Notes to Financial Statements 7

Independent Auditor's Report

To the Board of Directors

XBRL International, lnc.

We have audited the accompanying financial statements of XBRL International, lnc. (a nonprofit corporation), which comprise the statements of financial position as of June 30, 2018 and 2017, and the related statements of activities and cash flows for the years then ended, and the related notes to the financial statements.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. ln making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

ln our opinion, the financial statements referred to above present fairly in all material respects the financial position of XBRL International, lnc. as of June 30, 2018, and 2017, and the changes in its net assets and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.


THE CURCHIN GROUP, LLC

Red Bank, New Jersey
September 28, 2018

Statements of Financial Position

Years Ended June 30, 2018 and 2017

June 30, 2018 June 30, 2017
Assets:
Current assets:
Cash and equivalents414,769266,655
Dues receivable179,330252,117
Certification royalty receivable3,2691,990
Prepaid expenses and other assets27,368135,633
Total Current Assets624,736656,395
Liabilities and Net Assets:
Current liabilities:
Accounts payable and accrued expenses75,282103,110
Unearned dues289,260302,289
Deferred conference revenue-7,302
Total Current Liabilities364,542412,701
Net assets - unrestricted260,194243,694
Total Liabilities and Net Assets624,736656,395
See accompanying notes to financial statements.

Statements of Activities

Years Ended June 30, 2018 and 2017

June 30, 2018 June 30, 2017
Support and Revenues
Dues income786,049748,420
Co-sponsorship conference fee, net93,35845,242
Software certification17,100-
Subject Matter Expert certification revenue5,2069,522
lnterest income777175
Consulting income1,35410,000
Total Support and Revenues903,844813,359
Expenses
Program services
Salaries, benefits, and contract staffing expense590,520621,631
Meeting expense67,11348,404
Web site maintenance9,7669,768
Meals and entertainment321105
Marketing and communications82,09764
Subject Matter Expert royalty costs1,3022,380
Supporting services
Legal and accounting fees91,383112,352
lnsurance expense12,35511,585
Office, telephone, and sundry17,43916,929
Bank charges16,05614,643
Bad debt-11,864
Currency exchanges loss (gain)(1,008)12,625
Total Expenses887,344862,350
Change in unrestricted net assets16,500(48,991)
Unrestricted net assets, beginning of year243,694292,685
Unrestricted net assets, end of year260,194243,694
See accompanying notes to financial statements.

Statements of Cash Flows

Years Ended June 30, 2018 and 2017

June 30, 2018 June 30, 2017
Cash flows from operating activities
Change in unrestricted net assets16,500(48,991)
Adjustments to reconcile change in unrestricted net assets to net cash flows from operating activities:
Bad debt-11,864
Changes in operating assets and liabilities:
Dues receivable72,787168,260
Co-sponsorship conference fees receivable-3,350
Certification royalty receivable(1,279)161
Prepaid expenses and other assets108,265(63,519)
Accounts payable(27,828)(21,878)
Unearned dues(13,029)48,594
Co-sponsorship conference fees payable-(30,052)
Deferred conference revenue(7,302)5,587
Net cash flows from operating activities148,11473,376
Net change in cash and equivalents148,11473,376
Cash and equivalents, beginning of year266,655193,279
Cash and equivalents, end of year414,769266,655
See accompanying notes to financial statements.

XBRL International, Inc.
Notes to Financial Statements
Years Ended June 30, 2018 and 2017

Note 1 Nature of Organization and Summary of Significant Accounting Policies:

Nature of the Organization

XBRL International, lnc. (the "Corporation") was incorporated in the state of Delaware in 2001. The Corporation is a global consortium of approximately 550 of the world's leading technology, accounting, financial services and regulatory organizations devoted to developing and promoting the adoption of the extensible Business Reporting Language ('XBRL') as a global standard. XBRL International lnc. has an explicitly public interest purpose, to improve the accountability and transparency of business performance globally, by proving the open data exchange standard for business reporting.

XBRL is a royalty-free, open specification for software that uses XML data tags to describe financial information for public and private companies and other organizations. lt is designed to benefit everyone involved in the preparation or collection of business information by utilizing a platform independent, standards-based method with which users can prepare, publish in a variety of formats, exchange and analyze business reports and the information they contain. It can be used to express a wide range of reports and disclosures for both internal and external reporting purposes. Business reporting includes, but is not limited to, financial statements, financial information, non-financial information, general ledger transactions and regulatory filings such as annual and quarterly accounting, tax and industry reports.

Basis of Presentation

The accompanying financial statements have been prepared on the accrual basis of accounting in accordance with generally accepted accounting principles. Net assets and revenues, expenses, gains, and losses are classified based on the existence or absence of donor-imposed restrictions. Accordingly, net assets of the Corporation and changes therein are classified and reported as follows:

Unrestricted Net Assets Net assets that are not subject to donor-imposed stipulations are classified as unrestricted net assets.

Temporarily Restricted Net Assets Net assets subject to donor-imposed stipulations that may or will be met, either by actions of the Corporation and/or the passage of time are classified as temporarily restricted net assets. When a restriction expires, temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities as net assets released from restrictions. When temporarily restricted net assets are received and the restriction expires in the same reporting period, these assets are classified as unrestricted. There were no temporarily restricted net assets at June 30, 2018 and 2017.

Permanently Restricted Net Assets Net assets subject to donor-imposed stipulations that they be maintained permanently by the Corporation are classified as permanently restricted net assets. Generally, the donors of these assets permit the Corporation to use all or part of the income earned on any related investments for general or specific purposes. There were no permanently restricted net assets at June 30, 2018 and 2017.

Cash Equivalents

The Corporation considers money market funds and highly liquid investments with maturities of three months or less to be cash equivalents.

Dues Receivable

Dues income is recognized as support and revenue during the applicable membership period.

The Corporation uses the allowance method to determine uncollectible dues and co-sponsorship conference fees receivable ("receivables"). The Corporation periodically evaluates its receivables and establishes an allowance for doubtful accounts based on its prior years' experience and current credit considerations. Receivables are charged-off when management believes the uncollectibility of the dues or fees is confirmed.

XBRL International, Inc.
Notes to Financial Statements
Years Ended June 30, 2018 and 2017

NOTE 1Nature of Organization and Summary of Significant Accounting: (Continued)

Equipment

Equipment is stated at cost less accumulated depreciation. Depreciation is computed on the straight-line method over the estimated useful lives of the assets, which is three years for computer and office equipment.

Concentrations of Credit Risks

The Corporation closely monitors the extension of credit to the membership while maintaining allowances for potential credit losses. Membership is located in several countries throughout the world.

Financial instruments which potentially subject the Corporation to significant concentrations of credit risk consist principally of cash and equivalents with various financial institutions. These institutions are located throughout the United States, and the Corporation’s policy is to limit exposure to any one institution. At times, cash balances may exceed insured limits.

Co-sponsorship Conference Fee Income

The Corporation co-sponsors conferences with international countries to achieve networking, educational and outreach goals. The Corporation shares revenue with the jurisdictional countries under various revenue splits.

Unearned Dues and Deferred Conference Revenue

The Organization recognizes revenue in the period in which the related activity is performed. Accordingly, dues and fees received in advance for the upcoming year are deferred until the activity commences or the applicable membership period takes place.

Tax Exempt Status

The Corporation is a qualified tax-exempt organization under Section 501(c)(6) of the Internal Revenue Code and is exempt from Federal and State income taxes.

The Corporation follows the accounting guidance for uncertain tax positions, which clarifies the accounting and recognition for tax positions taken or expected to be taken in its income tax returns. The Corporation recognizes the tax benefits from uncertain tax positions only if it is more likely than not that a tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position.

The Corporation has not incurred any interest or penalties related to income tax expense during the year ended June 30, 2018 and 2017.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles requires estimates and assumptions to be made that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates.

Currency Translation

Foreign currency transactions entered into by the Organization included in the financial statements are translated into the functional currency, U.S. Dollars (USD), at the exchange rate prevailing at the transaction date. Monetary assets and liabilities are translated at the applicable exchange rate at each reporting date.

Date of Management’s Review

In preparing the financial statements, management has evaluated events and transactions for potential recognition or disclosure through September 28, 2018, the date the financial statements were available to be issued.

XBRL International, Inc.
Notes to Financial Statements
Years Ended June 30, 2018 and 2017

Note 2Retirement Plan:

The Corporation provides a Safe Harbor 401(k) Profit Sharing Plan which covers all of the Corporation’s U.S. based employees. Employees become eligible after attaining the age of twenty-one and providing twelve months of service to the Corporation. Employees may contribute a portion of their compensation subject to Internal Revenue Code limits.

The Corporation matches 100% of the employees’ contribution up to 3% of compensation, plus 50% of the portion of the employee’s 401(k) contribution between 3% and 6% of compensation.

For the years ended June 30, 2018 and 2017, the Corporation made matching contributions to the plan in the amounts of $0 and $1,879, respectively.