AASP Newsletter - September 2018

As the annual conference takes center stage for AASP, it is a good time to check in on the financial health of the organization. In this report, members will find an updated 2018 budget, AASP’s historical financial performance, and the most recent statement of assets.

Since the last report, projections for both income and expenses in 2018 have increased proportionally. This has resulted in AASP being able to slightly close the projected loss for this year from $30,000 to just over $27,000. Furthermore, AASP continues to maintain conservative budgetary practices so that in many cases year-end financials show greater income and/or less expenses than what was projected for the year.

The cost-center that experienced the largest budgetary change since the last financial report was the AASP Foundation. Specifically, a few AASP members have established legacy gift commitments. In these cases, each year AASP is responsible for premium payments – reflected in AASPF expenses. However, each year AASP also receives income to the AASPF in the exact same amounts to facilitate this payment – essentially making AASP a “pass-through” in this arrangement. As a result, both the income and expenses of the AASPF reflect these changes.

In review of AASP’s assets, another important point to touch on is the performance of AASP investments in the Fidelity Four-in-One Index Fund (FFNOX). Beginning in November 2016, AASP made the decision to strategically allocate $50,000 to invest in this fund ($2,500 per month for the next 20 months). As of the writing of this article, with nearly all funds invested, this investment has netted AASP over $3,000 dollars. While there are no immediate plans to expend this money on an initiative, this intentional decision is one small, but significant step to helping further secure the financial future of AASP.

As always, 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.