The Game Manufacturer’s Association showed profits for 2022 and 2021 after a big loss in 2020, despite ongoing pandemic impacts to revenues. GAMA showed a $31,000 profit in 2022 on revenues of $849,000, with expenses of $818,000 according to the organization’s IRS filing. Expenses were cut dramatically during COVID, and revenues were down as the organization’s shows were impacted. For comparison, in 2019 revenues were $939,000 and expenses were $1,038,000 (GAMA showed a $99,000 loss that year).
In our examination of the organization’s IRS filings, we discovered that financial information the organization had released for 2021 and 2020 was incorrect and did not match the filings. GAMA Executive Director John Stacy told us that bookkeeping had been disrupted by the pandemic, and the numbers on which we based our coverage had been adjusted when the filings were prepared.
GAMA revenues in 2021 were $802,000, and the net profit was $106,000, according to the IRS filings. The information provided to ICv2 in 2022 was that 2021 revenues were $1.3 million, and that the net profit was $182,000 (see “GAMA Turns It Around in 2021”).
GAMA revenues in 2020, the beginning of the pandemic and the most-affected year, were $424,000, and the organization lost $221,000, according to the IRS filings. The information provided in 2021 was that 2020 revenues were $810,000, and the loss was $182,000 (see “GAMA’s Tough 2020”).
GAMA’s financial reports for 2023 are not yet available, Stacy told ICv2, but will be made public when they are filed.
Source: ICV2
