Financial Report of the Secretary-Treasurer for 2012

By Jensen, Richard L. | Scandinavian Studies, Spring 2014 | Go to article overview

Financial Report of the Secretary-Treasurer for 2012


Jensen, Richard L., Scandinavian Studies


The Secretary-Treasurer has organized this report to reflect the purpose and status of each of the Society's assets. Some investments are intended to help support gifts and grants while others are reinvested for growth. Routine operating funds are maintained in the SASS operating account. Income and expenditures are itemized. The Society is financially sound. On December 31, 2012, those assets were valued at $1,110,286.28. As of December 31, 2012, the Society had a membership of 534 (138 institutional and 396 individual). That represents a decrease of 22 members since December 31,2011 (a decrease of 16 institutional and of 6 individual). Institutional memberships numbered 87 in the United States (a decrease of 29) and 51 abroad (an increase of 13). Individual memberships numbered 316 in the United States (a decrease of 6) and 80 abroad (no change). There were 51 student memberships, 44 in the United States (an increase of 15) and 7 abroad (an increase of 2). The Society had 139 lifetime members (a decrease of 2). Of these, 95 were in the United States and 44 abroad. There were 13 patron members.

The Society administers two grants for graduate students, the Einar and Eva Lund Haugen Dissertation Scholarship and the Birgit Baldwin Fellowship for dissertation research in the Nordic region. Seven doctoral students have benefited from the Baldwin Fellowship grant and one from the Haugen Scholarship thus far.

The Centennial Campaign for Scandinavian Studies, a campaign to provide an endowment in support of the Society's journal, was officially launched in May 2010. As of December 31, $30,329 had been contributed.

The SASS Women's Caucus funds, which are included below, had a balance of $685 at the end of the year 2012.

A. INVESTMENTS TO SUPPORT GIFTS AND GRANTS:

                                          VALUE        CHANGE

  LORD ABBETT INVESTMENT TRUSTS
    Balanced Strategy Fund CL A          $5,695           762   (15%)
    Balanced Strategy Fund CL C         $28,860         $3658   (15%)
  TOTAL PORTFOLIO (A):                  $34,555         $4420   (15%)

B. INVESTMENTS REINVESTING FOR GROWTH:

  FEDERATED
    Limited Term                        $20,257          $550    (3%)
    Strategic Income                    $24,776        $2,380    (n%)
  GOLDMAN SACHS
    Balanced Fund                       $83,058   $36,150 (1)   (78%)
    Growth and Income                   $98,076       $16,062   (20%)
    Capital Growth                      $32,410        $5,073   (19%)
  TOTAL PORTFOLIO (B):                  $258,577      $60,215   (30%)

C. BIRGIT BALDWIN FELLOWSHIP
  MUTUAL FUNDS
    Capital Income Builder              $619,912      $37,613    (6%)

D. HAUGEN SCHOLARSHIP
  MUTUAL FUNDS
  Income Fund of America                $158,126      $12,155    (8%)

E. … 

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