- Financial Report of the Secretary-Treasurer for 2010
The Secretary-Treasurer has organized this report to reflect the purpose and status of each of the Society's assets. Some investments intended to help support gifts and grants while others are reinvested for growth. Routine operating funds are maintained in the SASS operating account. Income and expenditures are itemized. The Society is financially sound. On 31 December 2010 those assets were valued at $1,001,664.66. As of 31 December 2010 the Society had a membership of 475 (124 institutional and 351 individual). That represents an overall decrease of 111 since 31 December 2009 (a decrease of 30 institutional and a decrease of 71 individual). Institutional subscriptions numbered 102 in the US (a decrease of 3) and 22 abroad (a decrease of 27). Individual memberships numbered 306 in the US and Canada (a decrease of 65) and 51 abroad (no change). There were 27 student memberships, 26 in the US and Canada and 1 abroad. The Society had 143 lifetime members (an increase of 81). Of these, 101 were in the US and Canada and 42 abroad. There were 8 patron members.
The Society administers two grants for graduate students, the Einar and Eva Lund Haugen Dissertation Scholarship and the Birgit Baldwin Fellowship for dissertation research in the Nordic region. Five doctoral students have benefited from the Baldwin Fellowship grant thus far.
In 2010 the Society received grants from the Barbro Osher Pro Suecia Foundation and from the Swedish Academy to support the publication of its journal, Scandinavian Studies, in 2011.
The Centennial Campaign for Scandinavian Studies, a campaign to provide an endowment in support of the Society's journal, was officially launched in May 2010. As of 31 December contributions had resulted in a balance of $6,768.22.
The SASS Women's Caucus funds, which are included below, had a balance of $340.00 at the beginning and $540.00 at the end of the year 2010. [End Page 615]
Lord Abbett Investment Trusts | VALUE | CHANGE |
---|---|---|
Balanced Strategy Fund CLA | 5,120 | 531 (12%) |
Balanced Strategy Fund CLC | 26,377 | 2,606 (11%) |
TOTAL PORTFOLIO (A): | $31,497 | $313 (11%) |
FEDERATED | VALUE | CHANGE | |
---|---|---|---|
Limited Term | 19,397 | 629 (3%) | |
Strategic Income | 21,345 | 2,187 (11%) | |
GOLDMAN SACHS | |||
Balanced Fund | 42,034 | 4,908 (13%) | |
Growth and Income | 88,847 | 9,148 (11%) | |
Capital Growth | 27,746 | 2,710 (11%) | |
TOTAL PORTFOLIO (B): | $199,369 | $19,582 (11%) |
MUTUAL FUNDS | VALUE | CHANGE |
---|---|---|
Capital Income Builder | 575,912 | 45,903 (9%) |
TOTAL PORTFOLIO (C): | $575,912 | $45,903 (9%) |
MUTUAL FUNDS | VALUE | CHANGE |
---|---|---|
Income Fund of America | 138,254 | 14,780 (12%) |
TOTAL PORTFOLIO (D): | $138,254 | 14,780 (12%) |
BANK ACCOUNT | VALUE | CHANGE |
---|---|---|
Wells Fargo | 6,768.22 | N/A (NEW) |
TOTAL PORTFOLIO (E): | $6,768.22 |
[End Page 616]
BEGINNING BALANCE | $10,779.33 |
Income | |
ASF student travel grants | 1,000.00 |
Conference donation | 1,000.00 |
Conference Income | 24.67 |
Dues and subscriptions | 31,088.77 |
Grant, Pro Suecia Foundation | 40,000.00 |
Grant, Swedish Academy | 19,970.00 |
Interest Income | 589.03 |
President's Grant donations | 370.00 |
Royalties | 3,315.73 |
Women's Caucus donations | 200.00 |
TOTAL INCOME | $97,558.20 |
Expenses | |
ACLS conference travel | 416.26 |
ACLS membership | 990.00 |
Aurora Borealis Prize | 1,250.85 |
Centennial Campaign | 119.75 |
Conference expenses | 1,873.62 |
Credit card fees | 169.87 |
Editorial expenses | 14,000.00 |
Non-profit corporation registraion, Utah | 30.00 |
Non-profit tax return preparation | 1,450.00 |
Postage and mailing | 7,966.48 |
President's grants | 4,000.00 |
Printing and copying | 18,392.01 |
Storage space rental | 240.00 |
Typesetting and editing | 7,500.00 |
Web hosting | 75.00 |
TOTAL EXPENSES | $58,473.09 |
ENDING BALANCE | $49,864.44 |
[End Page 617]
Investments supporting gifts and grants | 31,497.00 |
Investments reinvesting for growth | 199,369.00 |
Birgit Baldwin Fellowship funds | 575,912.00 |
Haugen Scholarship funds | 138,254.00 |
Funds in sass operating account | 49,864.44 |
Centennial Campaign funds, Wells Fargo | 6,768.22 |
TOTAL ASSETS | $1,001,664.66 |
This represents an...