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ASOR BLOG

NEWS@ASOR E-NEWSLETTER

ANCIENT NEAR EAST TODAY E-NEWSLETTER

PAST ASOR NEWS, MONTH BY MONTH

FY17 HONOR ROLL OF DONORS

ASOR ANNUAL MEETING

FY 2015 MID-YEAR TREASURER’S REPORT

At the recent Membership Meeting in San Diego, I reported that ASOR is on sound financial footing as of the fiscal year ending June 30, 2014 based on the following key performance markers:

 

ITEM

AMOUNT

CHANGE FROM FY 2013

Increase in total net assets (all sources: unrestricted, temporarily restricted, and permanently restricted)

$302,662

+19.4%

General Fund (i.e., unrestricted cash available for operations)

$475,494

-3.82%

Market value of all Investment Accounts

$1,423,738

+23.16%

Total market value of all financial accounts (checking accounts, savings accounts and Investment Accounts)

$2,097,097

+18.05%

Individual Membership revenue (accrual basis)

$163,124

-0.36%

Institutional Membership revenue (cash basis)

$79,000

-8.1%

Subscriptions revenue (accrual basis)

$229,532

-1.0%

Investment income (Fellowship Accounts) (S & P +24.6%)

$101,054

+18.7%

Investment income (Endowment Accounts) (S & P +24.6%)

$96,619

+18.3%

Based on the fact that membership and subscriptions revenue and contributions were essentially flat in FY 2014, and ASOR’s stellar investment results drove the growth engine, I noted the importance of ASOR growing and sustaining a strong membership and contribution base for the inevitable lean years in which the financial markets do not perform as well as they did in FY 2014.

This observation prompted questions from the floor regarding the ASOR FY 2014 membership and contribution base.  The answers to these questions are summarized in the following table:

Highest number of ASOR members at any point in FY 2014

1514

Number of ASOR members at June 30, 2014

1441

Number of ASOR members who also were donors

417

Percent of ASOR members who also were donors

29%

Total ASOR member contributions in FY 2014

$404,660

Average donation per contributing member

$970.40

While the average donation across all contributing members was $970.40, it is important to note that the top 1% of contributing members gave approximately 40% of the dollar value of the FY 2014 donations, while the top 5% of contributing members gave approximately 75% of the dollar value of the FY 2014 donations.  This means that 95% of the contributing members gave approximately 25% of the FY 2014 donations—i.e., an average donation of $255 per contributing member in this category.  For a detailed breakdown of the raw contribution data, I direct you to the FY 2014 Honor Roll of Donors.

There are several takeaway points from this analysis.  First, the fact that 29% of ASOR members also are donors is outstanding.  We understand from anecdotal evidence gathered from other members of the American Council of Learned Societies that ASOR is near the top—if not at the top—of the list of learned societies with the highest percentage of their members who also are donors.  For that, the Board of Trustees is grateful; we thank you for your ongoing and continued generosity.  In addition to funding ASOR’s programs and operations, your contributions also play a vital role in attracting contributions and grants from non-member sources that look to the commitment to ASOR by its members in determining whether and how much to give.  Still and yet, this is no time to rest on our laurels.

Second, in order to expand the research into, reporting about, and the study of the cultures and history of the Near East in general, as well as the number of summer dig season excavation scholarships and grants and antiquities preservation programs, we need to take active steps to grow the membership base.  I am pleased to report there is a game plan in place to accomplish this goal.  That said, every ASOR member should serve double duty as recruiter; think of where we would be if every member introduced ASOR to one new person per year.  The outlook is bright.  There are a number of interesting and challenging opportunities on ASOR’s doorstep and on the horizon.  We need to press forward so ASOR will be in a position to seize the day when the opportunities present themselves.

Third, in order to see us through the inevitable rainy days, we need to increase both the number of member donors and the amount of their contributions.  As you can see from the mid-year FY 2015 investment income numbers below, there is a light drizzle in the forecast compared to last year.  So, those of you who are not contributors, I encourage you to thoughtfully consider crossing the line and joining the ranks of the contributors in FY 2015. Every gift matters. Every contribution counts regardless of the amount.  For those of you who are already contributors, again, thank you for stepping up to the plate.  I also encourage you to drop a few extra bucks in the plate as it passes this year.

***

We are now at the FY 2015 mid-point.  As a final takeaway, I am pleased to again report that ASOR continues to be on sound financial footing—as demonstrated, in part, by the investment income earned by the Fellowship Accounts and Endowment Accounts for the six month period ending December 31, 2014.  Let’s work together to keep it that way.

ITEM

AMOUNT

CHANGE FROM
JUNE 30, 2014

Investment income (Fellowship Accounts) (S & P +6.1%)

$7746

+1.2%

Investment income (Endowment Accounts) (S & P +6.1%)

$8698

+1.3%

Respectfully submitted,

Richard L. Coffman, Treasurer
rcoffman@coffmanlawfirm.com

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