As glossy as the image the industry it represents prefers to project, the Academy of Motion Picture Arts & Sciences is the picture of financial health, according to its recently released annual report. The Oscars remain the Academy’s biggest single source of income with $85.5 million for fiscal year 2011 versus $82.7 million for 2010, roughly a 3.4% increase. Expenses related to the Academy Awards amounted to $35.6 million for 2011 leaving Oscars net revenue of about $49.9 million. Oscars-related expenses including production of the show for 2010 were about $33.3 million which left $49.4 million net revenue for Academy Awards-related activities. Significantly, the organization’s expenses for 2011 also include $2.3 million set aside for museum development for the Academy Museum of Motion Pictures. The Academy and the Los Angeles County Museum of Art have agreed to develop plans to establish the facility in the former May Company building at the corner of Fairfax and Wilshire. Expenses also include theater operations, fellowships, the Fairbanks Center which includes the Margaret Herrick Library and the Pickford Center.

Revenues from all other sources including investments, membership dues, donations and the like were $26.5 million for 2011, an increase of about 77% over the $15 million in non-Oscars revenue for 2010. Investments represent the second-largest chunk of the Academy’s revenues, with 2011 net investment income of $16.8 million against $10.95 million the year before. That’s an increase of slightly more than 53%. Total revenues for 2011 rose to $112.0 million from $97.7 million in fiscal 2010, an increase of $14.3 million or 14.6%. Expenses for 2011 rose just a bit more than 2% to$74.5 million from $73 million. As with revenue and expenses, the Academy’s endowment assets continue to grow. For 2011 the endowment net assets werre $48.3 million, against $43.8 million in 2010 and $39.3 in 2009. The Academy’s total assets for 2011 were $343.7 million versus 311.5 for 2010, while 2011 liabilities came to $54.6 million compared with liabilities of $52.9 million the year before. Net assets for 2011 were $289.1 versus $258.6 million for fiscal 2010.