American Numismatic Association announced its board of governors in late December passed a $5.5 million budget for the fiscal year that began Nov. 1.
The board decided to use 4.7 percent of its investment principal – or $868,118 – towards its FY 2017 operating budget of $5.55 million. A separate capital budget of $91,340 was also approved, ANA said.
“This year’s budget is a strategic deployment of ANA resources that will enable us to create a fund development program and to implement a plan to increase our online presence with additional educational content,” said ANA President Jeff Garrett. “These ventures will help the association to grow its outreach to the numismatic community and beyond.”
A copy of the approved budget is available online at money.org/financial-reports.
The ANA outlined its priorities for 2017.
At a strategic planning session on Oct. 28, the board discussed ANA program priorities and the need to identify, develop and promote new revenue streams. In a straw poll, the board also agreed that fund development and membership marketing are the association’s two highest priorities, followed by developing online content for money.org and cultivating strategic partnerships.
The board authorized hiring a fund development staff person in 2017 who will focus on securing major gifts and planned bequests. Also, during a teleconference meeting on Dec. 20, the board supported hiring an online content manager. The positions will be funded from investment principal.
There was discussion about preparation of a candidate questionnaire for potential board of governor nominees for the 2017 ANA election.
A presentation was given by Gov. Steve Ellsworth, chair of the development committee, on the committee’s fund development action plan.
The annual audit process was outlined by Treasurer Larry Baber. It is expected to be completed in February and will be publicly available in March.
This article was originally printed in Numismatic News Express. >> Subscribe today
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