HERALD Sun journalist Ben Butler dives into Victorian AFL clubs' annual reports to assess all the figures. Who's in the black? RICHMOND Profit: $1.59 million Last year: $8 million Revenue: $31.6 million Employee costs: $16.4 million Membership income: undisclosed Marketing income: $13.5 million Gaming and social club income: $5.5 million HANDOUTS prop up the Tigers, who would have made an $84,000 loss if it were not for $1.675 million in government money towards the redevelopment of Punt Rd oval. And in a crisis the club would also not be able to count on $500,000 received from the Jack Dyer Foundation, which is earmarked for the project. GEELONG Profit: $650,800 Last year: $52,600 Start of sidebar. Skip to end of sidebar. .End of sidebar. Return to start of sidebar. Revenue: $40.8 million Football department costs: $17.2 million Membership income: $9.41 million Sponsorship income: $13.7 million Gaming, food and beverage income: $6.87 million PHOTOS of the Premiership Cup adorn the Cats' annual report, but while taking home the flag boosted the club's payment from the AFL to $7.9 million it has also caused some financial indigestion. Producing extra memorabilia left the club with a $1.16 million bill. Directors say they expect to overcome the deficiency in the next three months through membership and sponsorship sales. NORTH MELBOURNE Profit: $5.78 million Last year: $6 million Revenue: $29.4 million Football operations costs: $13.69 million Membership income: $4.65 million Sponsorship income: $5.6 million Gaming income: not disclosed THE Shinboners are another club dependent on government grants - take away the $5.9 million in Arden St redevelopment funding and operating profit was just $60,000. Current liabilities of $8.2 million far outstrip current assets of $4.4 million and auditors Grant Thornton say there is "a material uncertainty which may cast significant doubt" on the club's "ability to continue as a going concern" and pay its debts. COLLINGWOOD Profit: $594,000 Last year: $3.27 million Revenue: $62.7 million Football expenses: $17 million Membership income: $9.58 million Sponsorship income: $15.1 million Social club and gaming income: $22.7 million COLLINGWOOD is under financial pressure, with profit slumping and $7.25 million in debt run up on its ill-fated hotel investments due to be paid off before the end of October 2010. The hotels are valued at $9.5 million and if the Magpies cannot sell them before the debt falls due the club faces a $4.4 million shortfall. Despite the problems with the hotels auditors KPMG have given Collingwood a clean bill of health. WESTERN BULLDOGS Profit: $3.21 million Last year: $3.18 million Revenue: $31.8 million Football department costs: $13.3 million Membership income: $4.84 million Sponsorship income: not disclosed Gaming income: not disclosed WITH $12.5 million owing to Westpac falling due this year, and just $5.6 million in current assets, the Bulldogs need either a loan extension or a big cash injection. Directors say the club depends on the continued support of the AFL. Take away $2.9 million in government money for the redevelopment of the Whitten Oval and the Bulldogs operating profit was $820,000. HAWTHORN Profit: $2.7 million Last year: $4 million Revenue: $40.5 million Employee and player expenses: $19.9 million Membership income: $7.3 million Marketing income: $13.2 million Gaming and bar income: $4.9 million WITH cash in the bank - about $6 million - and a miserly $214,000 in debt, the Hawks are a financial powerhouse. Unlike some clubs, they're not dependent on government handouts or AFL support, clawing in millions from memberships, marketing and hotel operations. This year the club agreed to pump $2.15 million into a joint venture with developers the Gauci Group that is developing pokies pub the West Waters Hotel in Caroline Springs. MELBOURNE Profit: $587,000 Last year: loss of $549,000 Revenue: $26.1 million Football department costs: $13.5 million Membership income: $4.2 million Marketing income: $6.8 million Gaming and social club income: $3 million THE Demons' financial position is even more hellish than it appears at first glance because the club's profit includes $567,000 raised as part of its "debt demolition" campaign. Counting only football operations the club made a wafer-thin profit of $20,000, and despite raising $3 million over the past two years to pay down debt it still carries liabilities worth $5 million. Directors Jim Stynes and Stuart Grimshaw say the Demons "still have a long way to go" and auditors Ernst & Young say there is "significant uncertainty" the club will "be able to pay its debts as and when they become due and payable". CARLTON Profit: $8.67 million Last year: $6.31 million Revenue: $34.1 million Football department costs: $16.1 million Membership income: $7.65 million Sponsorship income: $11.4 million Gaming income: $2.8 million WHILE their headline profit looks good, a $6.5 million shortfall projected for the coming year means the Blues are deep in red ink. They have also committed to find a further $2 million towards the redevelopment of Visy Park. Blowouts blamed on "design changes" have increased the cost of the project, a joint venture between Carlton, the AFL, and local, state and federal governments, from $17.7 million to $19.4 million. The project brought in $7.9 million in government grants this year, and without that money the operating profit would have been reduced to $750,000. ESSENDON Profit: $2.85 million Last year: $755,000 Revenue: $41.3 million Football costs: $13.9 million Membership income: $6.4 million Marketing income: $11.2 millon Gaming income: not disclosed MERGING with the Melton Country Club has given the Bombers a windfall of about $2 million; excluding the one-off payment operating profit was a little better than last year, at $760,000. But the club's financial position would have been healthy in any case; it is debt-free and has banked about $1.9 million in cash.