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  • Financial Report of the Secretary-Treasurer for 2011
  • Richard Jensen

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.

A. Investments to Support Gifts and Grants

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%)

B. Investments Reinvesting for Growth

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%)

C. Birgit Baldwin Fellowship

MUTUAL FUNDS VALUE CHANGE
    Capital Income Builder 582,299 6,387 (1%)
TOTAL PORTFOLIO (C) : $582,299 $6,387 (1%)

D. Haugen Scholarhsip

MUTUAL FUNDS VALUE CHANGE
    Income Fund of America 145,971 7,717 (6%)
TOTAL PORTFOLIO (D): $145,971 $7,717 (6%)

[End Page 542]

E. Centennial Campaign

BANK ACCOUNT VALUE CHANGE
    Wells Fargo 4,462.85 -2,305.37 (-34%)
TOTAL PORTFOLIO (E) l : $4,462.85 -$2,305.37 (-34%)

F. SASS Operating Account

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]

Summary of Assets, 31 December 2011

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...

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Additional Information

ISSN
2163-8195
Print ISSN
0036-5637
Pages
pp. 541-544
Launched on MUSE
2013-08-23
Open Access
No
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