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D.C. under agreements expiring at various times through 2014. Future minimum receipts to be received by year and in the aggregate, under the subleases for office space are as follows: Sublease rental income for the years ended June 30, 2010 and 2009 was $223,170 and $37,750, respectively.
years ending June 30,
2011 $ 255,774
2012 266,202
2013 155,321
2014 13,341
$ 690,638
commitments for conference facilities
The Association is committed under agreements for conference and hotel space through the year 2013. The total commitment under the agreements is not determinable as it depends upon attendance and other unknown factors. In the event that the Association cancels the agreements, the Association may be subject to liquidating damages.
contingency
EBACE has overseas activities and it has certain risks such as cur-rency fluctuation, foreign taxes and foreign country political issues. The Association does not believe that EBACE has incurred any liability related to these risks that is probable and can be valued.
10. employee retirement plan
During the year ended June 30, 1998, the Association established the National Business Aviation Association, Inc. 401(k) Profit Sharing Plan and Trust for all eligible employees. All plan participants have the option of deferring a percentage of their annual salary, subject to IRS limitations. The Association may match a portion of the salary deferred by each employee. For the years ended June 30, 2010 and 2009, the Association contributed $629,205 and $698,874, respec-tively, to the plan.
11. related parties
The Association is a member of the International Business Aviation Council (IBAC) along with fourteen other aviation member groups. Administrative, overhead and direct costs are borne by IBAC member groups through assessments. Costs incurred by the Association to support IBAC were $348,750 and $148,674 for the years ended June 30, 2010 and 2009, respectively.
中国公务机网 www.gongwuji.com
公务机翻译 www.aviation.cn
本文链接地址：2010 nbaa annual report 2010 nbaa 年度报告(28)
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