REVENUES
Contributions	$32,242,134
Gross Merchandise Sales	$1,033,519
Interest, Dividends, Royalties, and Other Income	$1,293,301
Total Revenues	$34,568,954

OPERATING EXPENSES
Programs
International Grassroots Campaigns	$8,324,679
Public Outreach and Education	$7,578,543
Research, Investigations and Rescue	$7,867,196
Cruelty-Free Merchandise Program	$980,731
Supporting-Organization Activities	$2,501,000
Membership Development	$5,083,576
Management and General Expenses	$1,361,227
Total Operating Expenses	$33,696,952

CHANGE IN NET ASSETS	$872,002
Net Assets Beginning of Year	$16,854,873
Net Assets End of Year	$17,726,875
Donor-Restricted (Permanently)	$3,041,548
Donor-Restricted (Temporarily)	$2,064,237
Board-Designated Legal Matters	$1,000,000
Undesignated	$11,621,090

OPERATING EXPENSE ALLOCATION
Direct Program Support	80.87%
Indirect Program Support	4.04%
Membership Development	15.09%

PETA is a nonprofit, tax-exempt 501(c)(3) corporation funded almost exclusively by the contributions of our members. We strive to use our funds in the most cost-effective and efficient manner possible, a commitment illustrated by the fact that 80.87 percent of our operating expenses went directly to our programs fighting animal exploitation. We expended only 15.09 percent on fundraising efforts that drive our operations and 4.04 percent on management and general operations.

Thirty-two percent of PETA's dedicated staff members earn yearly salaries of only $14,383 to $29,999, 44 percent earn $29,000 to $39,999, and only the remaining 24 percent earn more than $39,999. Our president, Ingrid E. Newkirk, earned $36,997 during the fiscal year ending July 31, 2009.

The financial statement shown here is for the fiscal year ending July 31, 2009, and is based on our independently audited financial statements.