AASP Newsletter - March 2018
Spring 2018 Financial Report
Financial Report from AASP Executive Board
As we enter 2018, the AASP Executive Board values the opportunity to provide a financial overview of the organization. As such, herein is the 2018 projected budget, AASP’s financial performance over the past 3 years, and the most recent statement of assets.
|
2015 Actual |
2016 Actual |
2017 Actual |
2018 Budget |
|
|
INCOME |
||||
|
Membership |
$178,652 |
$201,458 |
$202,356 |
$200,000 |
|
Conference |
$291,521 |
$340,456 |
$366,169 |
$367,250 |
|
Publications |
$214,423 |
$221,496 |
$215,232 |
$214,907 |
|
Certification |
$23,660 |
$27,185 |
$11,645 |
$60,525 |
|
Education |
$32,845 |
$30,141 |
$27,500 |
$28,750 |
|
Foundation |
$23,220 |
$16,919 |
$22,512 |
$25,000 |
|
Administration |
$5,049 |
$4,972 |
$6,363 |
$6,000 |
|
TOTAL |
$769,370 |
$842,627 |
$851,777 |
$902,432 |
|
|
|
|
||
|
EXPENSES |
|
|
|
|
|
Membership |
$0 |
$11 |
$1 |
$350 |
|
Conference |
$276,160 |
$378,108 |
$366,830 |
$377,350 |
|
Publications |
$105,051 |
$119,107 |
$114,821 |
$122,250 |
|
Certification |
$34,299 |
$51,920 |
$28,550 |
$67,289 |
|
Education |
$9,297 |
$9,696 |
$7,750 |
$10,000 |
|
Foundation |
$14,856 |
$9,720 |
$18,473 |
$20,800 |
|
Administration |
$307,502 |
$283,275 |
$365,008 |
$334,280 |
|
TOTAL |
$747,165 |
$851,837 |
$901,433 |
$932,319 |
|
|
|
|
||
|
NET |
$22,205 |
($9,210) |
(49,656) |
($29,887) projected |
In 2018, AASP is projecting a loss of approximately $30,000. This amount continues to demonstrate AASP’s commitment and investment to the new certification processes that are being rolled out. Specifically, in this area for 2018, AASP is projected to incur expenses related to psychometric consultation, meeting(s) for the Certification Council, administrative support, and revenue sharing with ACSM – who help with providing results.
While these increased costs are projected to reoccur each year, the good news is that income generated from certification should also increase to offset these expenditures. Compared to 2017, in the coming year, AASP is expecting a significant increase in the number of applications and re-certifications – through the new exam – as well as purchases related to new logoed apparel. As a whole, the increased usefulness of the CMPC program should help to make this budgetary cost center revenue neutral in the years to come.
The other budgetary item that warrants a brief discussion is the partnership with ROI Sports Marketing Group. ROI was hired by AASP in 2017 to conduct a needs analysis related to sponsorship and then actively try and retain corporate sponsors for the upcoming AASP conference. While initially promising, this arrangement did not reached our desired financial goals. Thus, the E-Board (through our management company HPA) negotiated a reduced rate for ROI’s services through February 15, 2018. At that point, the E-Board determined it was not best to continue the partnership or explore other avenues related to income generation through sponsorships, thus the partnership was terminated on that date.
|
SAVINGS / CHECKING / MM ACCOUNTS |
VALUE |
|
BMO Harris Checking |
$156,710 |
|
BMO Harris Money Market |
$71,729 |
|
BMO Harris Foundation |
$36,431 |
|
FCFCU Savings |
$8 |
|
Forum CU Savings |
$5 |
|
Summit CU Savings |
$1,273 |
|
TOTAL |
$266,156 |
|
|
|
|
CERTIFICATES OF DEPOSIT (CDs) |
|
|
Forum CU (33 month, 1.00%, 12/11/2018) |
$108,651 |
|
Summit CU (24 month, 1.25%, 2/20/19) |
$29,276 |
|
BMO Harris (33 month, 1.50%, 6/12/19) |
$56,412 |
|
Summit CU (25 month, 1.25%, 11/13/19) |
$71,059 |
|
Forum CU (33 month, 1.00%, 6/14/20) |
$77,587 |
|
BMO Harris (33 month, 2.00%, 1/6/21) |
$67,115 |
|
FCFCU (60 month, 2.08%, 6/29/22) |
$32,790 |
|
TOTAL |
$442,890 |
|
|
|
|
EQUITIES |
|
|
Fidelity Money Market (SPAXX) |
$17,627 |
|
Four-in-One Index Fund (FFNOX) |
$32,691 |
|
Unrealized Market Gain / Loss |
$3,389 |
|
TOTAL |
$53,707 |
|
|
|
|
TOTAL ASSETS (November 2017) |
$762,753 |
Thank you for the opportunity to serve AASP. Should you have questions, concerns, or suggestions related to the financial activity of AASP, please contact Todd Gilson, AASP Secretary-Treasurer, at tgilson@niu.edu.
