Enclosed are the audited financial statements of the ARRL for 2014 including the independent auditors' report on those financial statements. This document will be included in the 2014 Annual Report but I wanted you to get a copy prior to publication of that. Work is progressing nicely on the 2014 Form 990 (tax return) for the organization and, in accordance with IRS regulations, you will have a chance to review that document prior to filing. 73, Barry J. Shelley, N1VXY Chief Financial Officer ARRL, Inc. The National Association for Amateur Radio (860) 594-0212 www.arrl.org