FY2013 Treasurer


FY 2013 Annual Report

Jeffrey Benjamin

The financial news for the year 2012/13 is good. As the Executive Director and our Development consultant will describe in more detail, this has been a particularly rewarding year in terms of donations to the Society. Our Trustees, Fellows and Sage and Regular Members continue to show their generosity through payment of their dues and special donations. Many have made much larger contributions in addition.
We are very pleased that total contributions for the year were $584,260, a sum that came from almost 300 members and friends of the Society; the Sage Society donating $2,500 each brought an additional $105,000; membership dues were up, partly due to the efforts our new membership and development staff, at $133,050. Our gala raised $266,500 in total, and after all expenses, we are pleased to report a profit of $166,296. It is also pleasing to see that, year on year, publication sales are up by nearly 100% from $50,971 in 2012 to an estimated $98,755 in 2013.

The ANS endowment is at this point in good hands with our investment advisor LVW, with its principal Lori van Dusen. They have currently about $37 million of ANS money under investment. For this year, ANS investments are tentatively estimated to produce a return of 10%. The overall net asset figure, which includes endowment, trust funds and other money held by ANS, will rise by an estimated $1,535,106 from $45M to $46.5M. The portfolio managed by LVW has currently an allocation as illustrated on this slide. Regular meetings are held by the Finance Committee to discuss the allocation with our advisors. In order to fund our expenses, the Society draws 5% on its endowment. On most larger endowed funds (Francis Campbell, North American Chair, Thompson chair), expenses for staff salaries now exceed the amount available, and we are actively pursuing to increase the existing endowments through increased fundraising.

I would like to congratulate staff on having once again stuck to a tight operating budget, and to thank my fellow Trustees on the Finance and Investment Committees for their careful stewardship of the Society’s endowment.

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