American Society of Safety Engineers Foundation Annual Report

Fiscal Year Ending March 31, 2007

2006/2007 – a year of stellar growth thanks to the generous support of our donors who had the vision to invest in the safety, health & environmental (SH&E) profession.

Total revenues were $623,492 consisting of donations, interest earnings, realized investment gains, silent auction proceeds and scholarship fees. Donations (including corporate scholarship fees) totaled $541,943 making it the best year in the Foundation's history and 30% higher than the previous year. Of this total, restricted fund revenues (programs earmarked for scholarship and research) totaled $397,392.

Corporate support continues its steady growth with leadership gifts received from the Bechtel Group Foundation, Chubb Group of Insurance Companies, C N A Foundation, Corning, Inc., DaimlerChrysler Corporation Fund, FabEnco, Inc., the Liberty Mutual Group, Liberty Mutual Research Institute for Safety, R&R Construction, Scott Health & Safety, Summit Training Source, Inc., Texas Safety Foundation, Washington Group International, the UPS Foundation and Wyatt Field Service Company.

ASSE Regions & Chapters showed their support of the profession by donating a generous $52,896. Emphasis on a named chapter scholarship program and additional outreach led to these leadership gifts. Twenty-five percent of ASSE’s chapters supported the Foundation this past fiscal year (4/1/2006-3/31/2007).

Member support continues at a steady pace with almost twenty percent of ASSE members making contributions on their membership renewal form. Members donated over $96,000 while renewing their ASSE memberships.

On another positive note, the Foundation’s fund balance increased by 30% over the previous year

with total assets of $1,573,604. Interest income and realized gains were over $62,000 – doubling the previous year’s activity due to positive returns from the market. The Foundation’s investment managers have funds invested in equities, short/medium-term high quality bonds and other short-term financial paper.

Program expansion continues to flourish. Three donors established new funds including the Texas Safety Foundation with a $100,000 donation, the largest one-time gift ever received by ASSEF. In addition, ASSEF received its first planned gift from the estate of Thomas Reilly, ASSE past president. This generous donation of $10,000 will be used to establish the Thomas & Dorothy Reilly Professional Development Grant. And lastly, Tom and Diane Lawrence donated $20,000 to fund a safety research initiative.

In the research arena, over $35,000 was awarded for applied safety research including:

A $16,517 grant to East Carolina University researcher Michael Behm for his study on the Relationship Between Employee Morale & Occupational Safety & Health Metrics;
A $9,500 fellowship to Waldemar Karwowski for his study on Non-Linear Behavior of Human Strength Characteristics of the Shoulder;
A $9,500 fellowship to Nicole Gravina for her study on the Effects of Self Monitoring of Safety Postural Performance.

Nearly $89,000 was awarded in scholarships to undergraduate and graduate students pursuing degrees in occupational safety and health. Sixteen professional development grants were awarded to ASSE members totaling $9,500 for their participation in the Corporate Safety Management Course, ASP/CSP Certification Study Guides, Preparation Workshops and Exams, the ASSE Professional Development Conference, academic coursework and college textbooks. In addition, the ASSE Practice Specialties sponsored two students to attend the ASSE Professional Development Conference.

The Foundation continued promoting the Legacy Trust, a planned giving program, where members can name ASSEF in their wills or as a beneficiary to their life insurance policies. Eight members have made commitments to ASSEF to date.

Program support included co-sponsorship the ASSE Future Leaders Conference, a program designed to mentor ASSE student members and prepare them for the transition from a safety student to a SH&E employee. ($20,000). This program was generously co-sponsored by Liberty Mutual & Washington Group International. In addition, the ASSEF and the Board of Certified Safety Professionals partnered to produce Career Guide to the Safety Professional, third edition ($3,478). This publication is made available to anyone interested in the SH&E profession at no cost. Total expenses of $134,083 were related to newsletter production, meetings, conference events, management fees and unrestricted program expenses.

As we look to FY2008, ASSEF will offer nearly $110,000 in scholarships and professional development grants, another new record! New awards include the ASSE Diversity Committee Scholarship, Central Indiana ASSE Scholarship, North Florida Chapter Safety Education Scholarship and the Thomas & Dorothy Reilly Professional Development Grant. In addition, the Greater Boston Chapter, Liberty Mutual, the Northeastern Illinois Chapter and Rixio & Alejandra Medina have added second awards by making additional contributions to their restricted funds in 2007. Bechtel and Washington Group International have both increased their scholarships to $8,000 and $5,000 respectively.

The Liberty Mutual Research Fellowship Program will be offered again at the Liberty Mutual Research Institute for Safety for two fellows during summer 2008 and research activities will be reevaluated as we continue to update our research agenda.

Expanded accreditation activities will continue as we work with the Applied Sciences Commission (ASC) to develop and implement programs for schools seeking ABET accreditation. A grant will be available again in the early 2008.

Through all these activities, the Trustees will continue to review the Foundation's strategic plan and strive to identify the most effective ways to utilize funds to advance the safety, health and environmental professions.

Kennith D. Brock, CSP
Foundation Chair, Fiscal Year 2007

Statement of Revenues & Expenses

For the Period Ending 3/31/07.

Revenues	Operating Fund	Restricted Funds	Consolidated
Contributions	137,897	397,392	535,288
Scholarship Revenue	12,455	-	12,455
PDC Activities	13,156	-	13,156
Interest	18,868	2,195	21,064
Realized Investment Gain/(Loss)	41,529	-	41,529
Total Revenues	$223,905	$399,587	$623,492
Expense
Scholarships/Prof Dev Grants	-	98,257	98,257
Research Grants & Fellowships	-	35,517	35,517
Career Guide Reprint	3,478	-	3,478
Meetings & Conference Calls	20,378	-	20,378
Printing & Postage	19,422	-	19,422
PDC Activities	10,160	-	10,160
Miscellaneous	9,123	-	9,123
Scholarship Fees	-	6,850	6,850
Management Fees	75,000	-	75,000
Total Expenses	$137,561	$133,774	$278,185
Net Income	$86,344	$265,813	$345,307

Unrealized Investment Gain/(Loss)	35,345	-	35,345
Total Unrealized Gain/(Loss)	35,345	-	35,345
Net Income After ULI	$121,689	$265,813	$380,652

Balance Sheet

For the Period Ending 3/31/07.

Assets
Cash	137,183
Investments	1,430,769
Accts Receivable	(156)
Accrued Interest	5,807
Total	1,573,604

Liabilities & Fund Balance
Accrued Balance	90,705
Due to ASSE	16,091
Fund Balance: Donor Restricted	969,142
Fund Balance: Trustee Restricted	47,115
Fund Balance: Unrestricted	450,551
Total	1,573,604

ASSE Annual Report Archive

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2006

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