A more than 60 per cent jump in expenditures pushed the International Shooting Sport Federation (ISSF) significantly into deficit in 2017.
The newly-published accounts reveal a deficit of €731,788 (£649,324 /$827,814) after spending leapt to €5.61 million (£5 million/$6.35 million) from €3.47 million (£3 million/$4 million) the previous year.
Much of the jump was explained by adverse exchange rate fluctuations.
As the Munich-based body explained, the latest year showed an exchange loss of €1.48 million (£1.3 million/$1.7 million) compared with a €338,000 (£300,000/$382,000) gain in 2016.
However, labour costs also rose significantly, with the bill for salaries up 22 per cent from €348,000 (£308,800/$394,000) to €426,000 (£378,000/$482,000).
Adding taxes, social security and temporary employees took the total to €825,400 (£732,400/$933,700) - an increase of 21 per cent.
With non-Olympics-related income reaching just €882,000 (£782,600/$1 million), the ISSF remains hugely dependent on its International Olympic Committee subsidy.
This amounts to a fraction under €4 million (£3.5 million/$4.5 million) per annum over the 2016-2019 Olympic cycle, equating to no less than 82 per cent of ISSF income in 2017.
This figure underlines emphatically how important retaining shooting sport’s place on the Olympic programme is to the organisation and its finances.
With new leadership now in place, it seems reasonable to imagine that an early priority could be raising other income streams to reduce dependency on this one pot of US dollar-denominated money.
Delegates to the General Assembly had signalled displeasure on Friday, insisting that the vote on whether to approve the auditors’ report be conducted by a secret ballot.
The motion was eventually carried by 174 votes to 104, with 14 abstentions.