Based on our membership and its various categories, dues generated $26,130 this year. This figure is based on 346 regular members paying $60 a year ($20,640), 72 retired members contributing $40 ($2880), and 83 students, $30 ($2490). As of December 1, 2014, the endowment, which is overseen by Chris Courtney of Deutsche Bank, stood at $1.1M. The portfolio appreciated $100K this past calendar; but like everyone else with investments, we are subject to the vagaries of the Market.
Here is an accounting of the monies requested for calendar year 2013.
| Budgeted | Spent | |
| Catholic Historical Review | $0 | $18,682.50 |
| ES/T stipend | $12,000 | $12,00 |
| Webmaster expense | $9,000 | $9,000 |
| Lifetime members | $3,900 | $1,950 |
| Grants | $3,000 | $4,250 |
| Annual Meeting | $2,500 | $2,500 |
| Software | $0 | $0 |
| Postage/printing | $500 | $500 |
| Misc. | $400 | $400 |
| Presidential travel grants | $2,000 | $1,000 |
| ES/T travel stipent | $1,500 | $1,500 |
| Ellis Award | $1,200 | $1,200 |
| Plaques | $750 | $750 |
| Marraro Book Award | $750 | $750 |
| Voting | $650 | $0 |
| Guilday Award | $100 | $100 |
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| TOTALS | $39,000 | $36,500 ($55,182.50) |
Regarding the 2013 budget, we were under budget by $2.5K for non-CHR expenses. This is in part due to the following developments: reduced cost of CHR copies for Lifetime members, non-awarding of travel grants to the spring meeting, plaques were not as expensive as anticipated, voting software buy was reimbursed. Because we did not know how the negotiations would develop with The Catholic University Press of America regarding the quarterly costs associated with The Catholic Historical Review, I did not calculate expenses associated with the journal in this year’s budget. For this annual statement, I am able to report that the ACHA purchased 2,668 issues of the CHR this past year for a total expenditure of $20,010 (667 members x 4 issues a year @ $7.50 a copy).
Another savings for the ACHA is a non-reported savings of $10,000 for renegotiating our investment contract with Deutsche Bank.
Regarding the 2014 budget, I have listed all the non-CHR expenses and budgeted accordingly. I am requesting that the EC approve a $52K Operating Budget for this coming year.
Action items are italicized and bolded.
Proposed budget for 2014: $42,690
Supplemental request: $9000 (web site upgrade)
| CHR (Lifetime) | $2,000 (50 x $10 x 4 issues) |
| ES/T stipend | $12,000 |
| Webmaster | $9,000 |
| Grants | $4,250 (2 Junior Faculty @ $1000 ea.; 3 Graduate Student @ $750 ea.) |
| Annual Meeting | $3,750 |
| Presidential travel | $2,000 |
| ES/T travel | $1,500 |
| Ellis Award | $1,500 |
| Shea Prize | $1,500 |
| Marraro Award | $1,500 |
| Plaques | $1,000 |
| Voting software | $650 |
| Postage/printing | $500 |
| Guilday Award | $250 |
| Misc. | $810 |
Looking to the future, I believe we need to set our dues at rates that will cover our Operating Expenses plus a 3.5% draw down from the interest generated from the portfolio, which I hope remains above $1M for the foreseeable future. The Finance Committee will provide a more detailed report during the EC meeting.