AKC Finances Are Sliding Into the Toilet

From the July 2025 AKC Board Minutes:

Ted Phillips, Chief Financial Officer, presented interim unaudited financial statements as of May 31, 2025.

▪️On year-to-date revenues of $38.7 million the organization sustained a net operating loss of $1.7 million as compared to the same period of the prior year that resulted in net operating Income of $4 million.

▪️Operating revenues are lower than budget by $5.2 million or 12% and lower than prior year by $2.5 million or 6%. 

▪️Registration revenues from litters and dogs total $14 million trailing budget by 18% and prior year by 7%. 

▪️Recording & event service fees, title recognition fees and event applications fees total $7.2 million are lower than budget by 5% and similar to prior year. 

▪️Advertising, sponsorship and royalties total $7.2 million are lower than budget by 14% and prior year by 13%.

▪️Operating expenses total $40.4 million and are lower than budget by $2.4 million or 6%, but higher than prior year by $3 million or 8%.

See >> https://www.akc.org/wp-content/uploads/2025/08/Board-Minutes-July-2025-FINAL-PUBLISHED.pdf?

As of January 2026:

“Net Operating Loss is $5.9 million primarily due to lower registration revenue, excluding investment income of $3.2 million. Operating revenues total $83 million, led by registration (litter and dogs) totaling $28.8 million. Operating expenses total $85.8 million.”

See >> https://www.akc.org/wp-content/uploads/2026/02/Board-Minutes-January-2026-FINAL-PUBLISHED.pdf