- Financial Report of the Secretary-Treasurer for 2011
The Secretary-Treasurer has organized this report to reflect the purpose and status of each of the Society's assets. Some investments are 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 2011 those assets were valued at $1,028,985.49. As of 31 December 2011 the Society had a membership of 556 (154 institutional and 402 individual). That represents an increase of 81 members since 31 December 2010 (an increase of 30 institutional and of 51 individual). Institutional memberships numbered 116 in the US and Canada (an increase of 14) and 38 abroad (an increase of 16). Individual memberships numbered 322 in the US and Canada (an increase of 16) and 80 abroad (an increase of 29). There were 36 student memberships, 31 in the US and Canada and 5 abroad. The Society had 141 lifetime members (a decrease of 2). Of these, 97 were in the US and Canada and 44 abroad. There were 20 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. Six 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 [End Page 541] in a balance of $4,462.85 and an additional $6,000 was invested in the Goldman Sachs Balanced Fund, 12 January 2011.
The SASS Women's Caucus funds, which are included below, had a balance of $540 at the beginning and $685 at the end of the year 2011.
LORD ABBETT INVESTMENT TRUSTS | VALUE | CHANGE |
---|---|---|
Balanced Strategy Fund CL A | 4,933 | -127 (-2%) |
Balanced Strategy Fund CL C | 25,202 | -1,175(-4%) |
TOTAL PORTFOLIO (A): | $30,135 | -$1,362 (-4%) |
FEDERATED | VALUE | CHANGE |
---|---|---|
Limited Term | 19,707 | 310 (2%) |
Strategic Income | 22,396 | 1,051 (5%) |
GOLDMAN SACHS | ||
Balanced Fund | 46,908 | 4,874 (12%) |
Growth and Income | 82,014 | 6,833 (-8%) |
Capital Growth | 27,337 | -409 (-1%) |
TOTAL PORTFOLIO (B): | $198,362 | -$1,007 (-1%) |
MUTUAL FUNDS | VALUE | CHANGE |
---|---|---|
Capital Income Builder | 582,299 | 6,387 (1%) |
TOTAL PORTFOLIO (C) : | $582,299 | $6,387 (1%) |
MUTUAL FUNDS | VALUE | CHANGE |
---|---|---|
Income Fund of America | 145,971 | 7,717 (6%) |
TOTAL PORTFOLIO (D): | $145,971 | $7,717 (6%) |
[End Page 542]
BANK ACCOUNT | VALUE | CHANGE |
---|---|---|
Wells Fargo | 4,462.85 | -2,305.37 (-34%) |
TOTAL PORTFOLIO (E) l : | $4,462.85 | -$2,305.37 (-34%) |
BEGINNING BALANCE | $74,171.43 |
Income | |
Conference income | 18,574.49 |
Dues and subscriptions | 25,678.44 |
Interest Income | 720.80 |
President's Grant donations | 90.00 |
Royalties | 5,944.11 |
Women's caucus donations | 180.00 |
TOTAL INCOME | $51,187.84 |
Expenses | |
Aurora Borealis awards | 625.00 |
Aurora Borealis Prize Expense | 50.64 |
Conference Expenses | 757.09 |
Credit Card Fees | 131.22 |
Non-profit tax return preparation | 1,300.00 |
Postage and mailing | 5,368.30 |
President's grants | 8,475.00 |
Printing and copying | 7,855.21 |
Storage space rental | 240.00 |
Student Wages and Benefits | 21,444.94 |
Typesetting and Editing | 10,000.00 |
Web hosting | 619.35 |
Women's Caucus Luncheon | 35.00 |
TOTAL EXPENSES | $57,603.63 |
ENDING BALANCE | $67,755.64 |
[End Page 543]
Investments supporting gifts and grants | 30,135.00 |
Investments reinvesting for growth | 198,362.00 |
Birgit Baldwin Fellowship funds | 582,299.00 |
Haugen Scholarship funds | 145,971.00 |
Funds in SASS operating account | 67,755.64 |
Centennial Campaign funds, Wells Fargo | 4,462.85 |
TOTAL ASSETS | 1,028.985.49 |
This represents an increase of $27,320.89 compared with total...