Treasurer Report

By Francisco Villegas, Kalamazoo College

I write to you with a cautiously optimistic outlook. For many years we have talked about NACCS being in a precarious financial situation, and this was particularly highlighted in the difficult years of 2020-2022. We recently held a conference where we could finally be within each other’s vicinity, and despite the many uncertainties, we in the Board considered it a success. Given the roots of our organization, as well as our collective politics, we ought to recognize the labor that went into maintaining NACCS in a viable position. I would like to thank everyone who made sure that we maintained a sound financial position and who facilitated a platform from which to continue building, mainly our past treasurers Chalane Lechuga and Ernesto Colin. 

I recently completed the accounting for the 2022-23 fiscal year. I would like to thank Julia Curry Rodriguez as well as Kathy Blackmer Reyes for their assistance in pulling reports and helping me account for every cent that came in, or was spent by the organization. You will find the report attached to this write up, but please allow me to share a few important points. Firstly, our membership number rose by about 30%. From 209 members the previous year to 271. While this number pales in comparison to those pre-pandemic, it is a big step in the right direction. Overall, we had a mildly profitable conference which, coupled with all other revenue making endeavors, allowed us to cut down on the debt accrued. The net worth of the organization, considering all debts, was reduced from a working deficit of $23k to ~$11k. To be clear, our bank account has never dipped into the negatives. We have instead maintained conversations within the Board about the amounts that we can pay towards the debt. While it is concerning to be working with a negative net worth, I find these numbers encouraging in two ways: 1) we continue to ensure the payment for the labor of running the organization and 2) with a strong showing next conference, we could be in a positive net worth.

As part of our work at our financial meeting, we looked through the year’s invoices and sent reminders to all that remained unpaid. All have been settled. Thus, while officially we finished the year in a stable financial position with a checking account balance of $39,344.94, the current bank account stands at $44,988.73 with $10,000 to be deposited via credit card payment. Given the date of the deposits, the report stands as presented. I only provide this as additional information in my yearly report as treasurer and as additional signs of a positive outlook. 

The Castañeda Prize investment also remains in good standing. It is currently valued at $38,521.65 and sits within a “socially responsible investment portfolio.” It has received an annualized return over 5 years of 6.69% and an YTD return of 10.83%. Five years ago, it stood at $28,274.44.

One additional task we took on this year was looking over the donations data since 2007. We have had two campaigns in that time designed to create and bolster an endowment for the organization (the Development Fund and the Endowment Fund). I believe it is time that these funds be allocated in a separate bank account, similar to the Castañeda Prize, to be utilized in accordance to endowment practices (limited withdrawals designed to grow the fund and ensure long-term financial stability).  The total amounts of these campaigns are $8,495. This amount is currently available.

We all know the work of NACCS is important. As we see recognition of our field in places like California, we are also experiencing attacks on our community across the country. Thus, I call on you to support the organization. Please renew your membership and pay for registration to the conference. We know that conference budgets have been cut for most of us and we will continue to endeavor to provide a conference that is as economically accessible as possible, including negotiating cheaper hotel rooms for our members. Furthermore, if you have job vacancies in your departments, please encourage your schools to advertise with us. It will not only help NACCS, but provide our members with valuable opportunities to further their careers.

Link to Financial Report – Fiscal Year 2022-2023

Fall 2023, Vol. 49, No.1

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