23 EPRA ANNUAL REPORT 2017 2017 2016 Revenue: Environmental handling fees $ 53,358,216 $ 46,693,852 Management fee 2,640,760 2,861,674 Interest 1,088,764 959,210 57,087,740 50,514,736 Expenses: Direct operations: Processing 24,421,563 25,071,642 Collection 8,717,232 8,589,481 Transportation, warehousing and storage 10,353,890 10,515,584 Quality assurance sampling and recycler audits 455,500 414,500 43,948,185 44,591,207 Other: Consumer awareness and communications 6,556,810 5,865,058 Administration 9,598,687 9,429,856 Government fees 471,090 453,998 16,626,587 15,748,912 60,574,772 60,340,119 Excess of expenses over revenue $ (3,487,032) $ (9,825,383) See accompanying notes to financial statements. Year ended December 31, 2017, with comparative information for 2016 ELECTRONIC PRODUCTS RECYCLING ASSOCIATION Statement of Operations