23 EPRA ANNUAL REPORT 2018 2018 2017 Revenue: Environmental handling fees $ 51,936,468 $ 53,358,216 Management fee 3,842,533 2,640,760 Interest 1,703,197 1,088,764 57,482,198 57,087,740 Expenses: Direct operations: Processing 22,393,013 24,421,563 Collection 8,380,985 8,717,232 Transportation, warehousing and storage 10,224,519 10,353,890 Quality assurance sampling and recycler audits 463,594 455,500 41,462,111 43,948,185 Other: Consumer awareness and communications 7,634,585 6,556,810 Administration 9,544,609 9,598,687 Government fees 544,243 471,090 17,723,437 16,626,587 59,185,548 60,574,772 Excess of expenses over revenue $ (1,703,350) $ (3,487,032) See accompanying notes to financial statements. Year ended December 31, 2018, with comparative information for 2017 ELECTRONIC PRODUCTS RECYCLING ASSOCIATION Statement of Operations