SSMAC Finance

The year 2005 witnessed continuing improvement in the operations of the Soldiers', Sailors', Marines', Coast Guard and
Airmen's Club (SSMAC). For the year, overall revenues increased by 35.6% to $1,207,439, while total expenses increased
by only 4.7%. As a result, we generated a cash flow surplus of $123,186 for the year, as opposed to a cash flow deficit of
$147,330 for the year 2004. We once again had a successful military ball in October at the Pierre, at which we saluted the
U.S. Army and the American Red Cross. Gen. Richard A. Cody, Vice Chief of Staff of the U.S. Army, accepted the SSMAC
2005 award for "Distinguished Military Leadership," and Bonnie McElveen-Hunter, Chairman of the Board of Governors of
the American Red Cross, was honored for her "Service to the Nation."

We likewise furthered our efforts to provide every possible assistance to our brave men and women returning from
Afghanistan and Iraq as an integral part of our eighty-seven year old mission of "Serving Those Who Have Served Their
Country." In June, we hosted a group of approximately 50 severely wounded Soldiers and Marines, most of whom are
amputees, when they traveled to New York City from across the country to participate in the five-mile "Hope and Possibility"
race held in Central Park. In November, we welcomed another group of "Wounded Warriors" who were here to compete in
the New York City Marathon. The SSMAC absorbed the entire cost of their stay, supported through the generosity and
gratitude of corporate and individual donations. As part of this most important initiative, we continued our program to make
the SSMAC's facilities more handicapped accessible.