I was invited to listen in on a telephone meeting of the American Numismatic Association board of governors yesterday.
Among the items of business, executive director Larry Shepherd reported on the financial situation.
To say that it has improved under this board and his guidance is an understatement.
The current audit of the most recent 19-month period shows a surplus of $1,358,000 before the ongoing legal expenses. Even including these, there is a surplus. (The latest lawsuit trial involving former executive director Christopher Cipoletti is slated to start at the El Paso County Courthouse in Colorado Springs, Colo., Feb. 23.)
The investment markets have been kind. They are up $3.2 million in 19 months.
The balance sheet is up 20 percent to $27 million and with the value of the library and numismatic collections included, the total tops $66 million.
In contrast, Shepherd cited the following numbers:
2002: - $1,185,000
2003: - $998,800
2004: - $1,278,000
2005: - $634,000
2006: - $537,000
2007: - $1,730,000
This run of negative numbers neatly sums up why the membership was so restive in the 2007 elections that they voted out the entire board in their own Mubarak moment.
There is a far chirpier attitude among the ANA members this year.