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|
|Student Travel Awards||$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 firstname.lastname@example.org.