The AAHKS Finance Committee presented this report at the AAHKS Annual Meeting.
Most significant activities or developments:
With current assets totaling over $7 million, AAHKS continues to remain fiscally strong. Over $5.5 million are in reserves; being held in an investment account to be used as needed to further the mission of AAHKS and meet the needs of the membership.
As of the September Statements of Financial Position:
- Total Income for 2014 is $2,796,133
- Total Expenses for 2014 are $1,401,104
- Net Income is $1,401,104.00 not accounting for the majority of annual meeting expenses which are typically paid in December.
- OREF continues to hold over $300,000.00 in Endowment Funds, but due to their restructuring, the AAHKS BOD has created The Foundation for Arthroplasty Research and Education (FARE), a 501(c)(3) not-for-profit to hold these funds for use as an endowment for research and education purposes.
Plans for next year:
The Treasurer and the Board carefully review the financial reports each month to be sure that the Association’s finances are being managed appropriately.
