Categories
Committee Reports

Treasurer’s Report

Amy Nitza, PhD
Amy Nitza, Ph.D., Treasurer

Our Division ended 2017 in a solid financial position.  Our 2017 year-end numbers are below, with 2016 year-end numbers included for comparison. Our primary source of revenue continues to be the journal, which performed well, although royalties were slightly lower than in 2016.  Membership dues were down significantly. However, our overall expenses were lower than anticipated, and we ended 2017 with a positive net income.

PERFORMANCE REPORT

Division Performance Report 16-17
2017 2016
Income
   Membership Dues 2242 3621
   Contributions 0 500
   Interest/Dividends 13 35
   Misc. (CE at conv) 0 0
   Royalties 42422 43408
Total Income 44677 47564
Expenses
   Midwinter Meeting 10552.31 10711
   Newsletter 2300 2299
   Awards and Grants 9865.83 4600
   Convention 2720.39 6477
   Committees 584.91 945
   Liasions/External Committees 2747.87 7758
   Social Media 2000 2000
   Marketing 105 150
   APA Administrative Services 2850 2975
   Miscellaneous 30.81 0
Total Expenses 33757.12 37915
Net Income/(Loss) 10919.88 9649
Assets
Cash Balance 65501 52812
Investments/Other Assets 43963 43722
Net Assets 109464 96534

Looking forward, our budget for 2018 as approved by the board at the midwinter meeting in early February is below.  We continue to invest in our membership through the provision of numerous student and professional awards, and through division events and opportunities to connect at the APA Convention.  We also continue to invest in advocacy through sending representatives and liaisons to select APA committees and external groups as well.

2018 BUDGET

2018 Budget Proposed  
 SUMMARY  2018 Budget
 Total income  $102,030
 Total expenses $52,200
 Income less expenses: $49,830
 INCOME DETAILS  2018 Budget
Journal Royalties $41,000
Dues $2,500
Interest $30
Contributions $500
CEU Royalties $-
Carry Forward from 2017 $58,000
Income: $102,030
EXPENSE DETAILS  2018 Budget
100 Midwinter Meeting $12,000
200 Newsletter
  Editor Stipend $2,000
  Publishing $300
300 Awards & Grants
  Moreland Dissertation $1,000
  Student Posters $600
  Student Diversity Posters $600
  Group Psychologist of Year $1,000
  Professional Achievement in Diversity $1,000
  Student Diversity Award $500
  Practice Award $1,000
 Teaching Award $1,000
  Student Travel Awards $4,000
  Research Grant(s) $4,000
400 Convention
  Suite and Executive Meeting $3,000
  Social $2,500
  Promotional $1,000
  Student Conference Coordinator $2,000
  Recording Fellows Talks $2,000
500 Committees
  ECP $150
  Membership $750
 Student Committee $300
 Other Committees $1,500
600 Liasions/External Committees
  COS Dues  $550
  COS Attendance $900
  CAPP/FAC Attendance  $800
Other Liasions  $2,000
700 Social Media
  Consultant  $2,000
  Hootsuite  $-
  Other Social Media  $-
800 Marketing  $700
900 APA Administrative Services  $3,000
1000 Miscellaneous  $50
Expenses:  $52,200

 

If you have any questions about this report or our Division finances, feel free to contact me at any time.

 

Categories
Committee Reports

Finance Report

Amy Nitza, PhD
Amy Nitza, Ph.D.

2016 End of the Year Financials 

Dr. Nitza reviewed end of year financials; The division spent significantly less than we thought we would spend in 2016 and had more income than we thought we would. Part of the reason that we had extra money was that we did not spend some of the money we said we would spend (we didn’t give money for several awards). Dr. Parks pointed out that we are a profitable division because of the journal (even though membership is low).

Dr. Nitza noted we have an investment account with about $47,000 in it as a safety net. It earns $5 a quarter. There might be better ways that money could be handled. Dr. Ribeiro asked if there is a problem with not spending the money we budgeted for last year. Dr. Nitza said no, we do not have to zero out. Dr. Dennis Kivlighan said there are three things that need to be discussed together: the structure of the Board, the budget, awards. One of the reasons that the money didn’t get spent was that there was no one responsible. One of the reasons for the new board structure was so that there would be certain people who would “own” certain aspects of what we do, like the awards.

Categories
Committee Reports

Finance Report

Amy Nitza, PhD
Amy Nitza, Ph.D.

Division 49 continues to be in good financial condition.  We ended 2015 with $45,312 in revenue, which included $40,911 in royalties from the journal, and $3,864 in membership dues.   Expenses were slightly over revenue at $48,388; this net loss was planned in order to pay off our contributions to the Foundation in full.  Our overall assets remain strong; we ended the year with net assets of $87,766 (cash balance and investments).

With our commitment to the Foundation paid off in 2015, there was room in the 2016 budget to use some of our revenue in new ways. In doing so, the board prioritized two related goals: reinvesting our revenue into division membership, and encouraging the involvement of student members.  With these goals in mind, the board voted to dedicate funds to establish Student Travel Awards and Research Grants.  Additionally, the board voted to provide stipends for the Group Psychologist of the Year, Diversity, and Practice awards.  The breakdown of these funds for 2016 is as follows:

Group Psychologist of Year                          $1,000
Diversity                            $1,000
Practice Award                            $1,000
Student Travel Awards                            $4,000
Research Grant                            $4,000

 Other highlights of the 2016 budget include joining with other organizations to hire a professional writer for the CRISP application, supporting the activities of the ECP task force, and promoting suite programming and social time at upcoming conventions. We have also begun investing in the recording of Fellows talks at conventions as well.

If I can answer any questions related to Division 49 finances, please feel free to contact me at amynitza@gmail.com.

Categories
Committee Reports

Treasurer’s Report

Amy Nitza, PhD
Amy Nitza, Ph.D.

The 2015 proposed budget was submitted and approved by the Board in January. Our projected 2015 income was $84,491 with projected expenses of $59,950. This budget maintains the Board’s ongoing objective of holding expenses at 80% or less of income, keeping us in good fiscal condition. As of the end of April, dues income was right on par with 2014 numbers for the same time period. Investment assets totaled over $43,642 as of the end of April as well.

One notable accomplishment for this year so far has been the paying off of the final $24,000 of our commitment to the Foundation. With this contribution paid in full, the Foundation will be able to move forward more quickly with its important work. Congratulations to everyone involved in making this significant commitment a reality!

Additionally, we continue to support Division 49 members to serve as liaisons to other APA committees and joint task forces, and to fund social media and publication efforts that promote the mission of the division both internally and externally. In this and other ways the Board is seeking to ensure that our resources are utilized to advance group psychology and group psychotherapy.

For budget details, please see the website or contact me at nitzaa@ipfw.edu.

Categories
Committee Reports

Treasurer Report

Rebecca MacNair-Semands, Ph.D., CGP
Rebecca MacNair-Semands, Ph.D.

 

Amy Nitza, PhD
Amy Nitza, Ph.D.

 

Submitted by: Rebecca MacNair-Semands, Ph.D., CGP, Past Treasurer and Amy Nitza, Ph.D., Treasurer

Division 49 ended 2014 with over $47,000 in income, including royalties from the journal at $43,077 (above the projected amount of $40,000). Dues exceeded those of last year and were above projected numbers this year after gaining some new members, for a total of $3,978 of income this year.

Newsletter costs were reduced from 2013 by over 28% to $2,171 by using the website for more detailed reports and shifting fully to an electronic version. This has been a huge savings in the past two years, as we spent over $6,200 in 2012. These costs will be further reduced next year without the fees for initiating the on-line formatting. After contributing to the Foundation and coming in under projected budget at both conferences, our final expenses totaled $35,936 (under the 2014 projected expenses of $38,828). We remain strong in our net assets with investments totaling $43,620.

Following the newsletter stipend of $2,000 beginning in November of 2013, the board approved a $1,500 contract for a social media consultant in 2014. We were able to split the journal editor monies between the current Editor and the affiliated university beginning this year as well, to provide more flexibility in the release of funds.

The Finance Committee explored shifting a portion of our short-term investments to funds that bring in more interest, as our balance has been stable for several years. However, we postponed this decision as we discussed and further explored the potential to start a new journal. This conversation can now be revisited as the journal process is likely to take several years. Our Foundation balance is now at $80,000, and we will reach our $100,000 goal in 2015. Please see the entire projected budget for 2015 for details, which will also be placed on the website.