Members Only
Home
Cart
Contact
Search
American Society of Safety Engineers Foundation Annual Report
Fiscal Year Ending March 31, 2009
2008/2009 – a year of robust growth in spite of economic woes due to the economy and credit markets. We thank our generous donors who had the vision to invest in the safety, health & environmental (SH&E) profession.
Total revenues were $722,867 consisting of donations, interest earnings, realized investment gains/losses, silent auction & golf outing proceeds and scholarship fees. Donations (including corporate scholarship fees) totaled $690,400 making it the best year in the Foundation's history. Of this total, restricted fund revenues (programs earmarked for scholarship and research) totaled $543,824.
Corporate and organizational support continues its steady growth with leadership gifts received from the following organizations:
- Visionary Donors ($15,000+) include the Board of Certified Safety Professionals, Liberty Mutual Group, the Liberty Mutual Research Institute for Safety, Texas Safety Foundation, the UPS Foundation and Washington Division of URS
- Counselor Donors ($10,000-$14,999) include the Bechtel Group Foundation and the CNA Foundation
- Champion Donors ($5,000-$9,999) include the Central Carolina School of OSH, CCHEST and Flatiron Construction Corporation
- Advocate Donors ($2,500-$4,999) include Summit Training Source, Inc. and Total Safety
- Contributor Donors ($1,000-$2,499) include Chubb, East Carolina University and Houston Area Safety Council
ASSE Regions & Chapters showed their support of the profession by donating a stellar $151,000. Emphasis on a named chapter scholarship program and additional outreach led to these leadership gifts. Thirty percent of the ASSE chapters supported the Foundation this past fiscal year (4/1/2008-3/31/2009).
Member support continues at a steady pace with 19% of ASSE members making contributions on their membership renewal form. Members donated over $106,000 while renewing their ASSE memberships.
On another positive note, the Foundation’s fund balance increased by 13% over the previous year with total assets of $2,071,061. Interest income and realized gains/losses resulted in a loss of ($10,138). This shortfall was due to the down turn in the market. The Foundation’s investment managers have funds prudently invested in equities, short/medium-term high quality bonds and cash.
Program expansion continues to flourish as ASSE constituents continue to give. The Permian Basin Chapter, CCHEST, friends of Archie Moore and the family of Terrance Hennessy created named scholarships and professional development grant programs that will benefit students pursuing degrees in safety or ASSE members seeking to advance their safety credentials.
In the research arena, $19,000 was awarded for applied safety research including:
- A $9,500 fellowship to David Kidd for his study entitled “Changes in Driver Perceptions of Distracted Driving Performance with Practice”;
- A $9,500 fellowship to Lauren Murphy for her study entitled “The Effects of Social Modeling on Safety Behavior”
Over $139,000 was awarded in scholarships and professional development grants to undergraduate and graduate students pursuing degrees in occupational safety and health and to safety professionals seeking to advance their credentials through participation in the 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.
Program support included co-sponsorship of 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 Division of URS. In addition, the Foundation funded a reprint ($3,608) of Career Guide to the Safety Profession, third edition. This publication is available to anyone interested in the safety profession.
Total expenses of $165,602 were related to newsletter production, meetings, conference events, management fees and unrestricted program expenses. Nearly $58,000 was paid out as interest earnings on restricted scholarship and grant funds.
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. Sixteen members have made commitments to ASSEF as of March 31, 2009.
As we look to FY2010, ASSEF will offer over $110,000 in scholarships and professional development grants for students pursuing degrees in SH&E and to safety professionals working to expand their professional credentials. In addition, ASSEF will co-sponsor the ASSE Future Safety Leaders Conference which will be held in Indianapolis November 2009.
The Liberty Mutual Research Fellowship Program will be offered again at the Liberty Mutual Research Institute for Safety for two fellows during summer 2010 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 in early 2010.
And lastly, we will be offering a new program entitled the “PhD Fellowship for Future Safety Educators”. This program is a doctoral fellowship that is intended to cultivate future educators of occupational safety and health and to produce a thread of evidence-based research in the economic and financial analysis of safety-related programs and interventions. Successful candidates will attend Oregon State University tuition-free for three years, and will be required to teach at the collegiate level for a minimum of 3 years upon completion of their degree.
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.
Stephen Bennett
Foundation Chair, Fiscal-Year 2009
Statement of Revenue and Expenses
For the Twelve Months Ending March 31, 2009
Revenues |
Operating Fund |
Restricted Fund |
Consolidated |
|||
Contributions |
$139,216.37 |
543,824.10 |
683,040.47 |
|||
Scholarship Revenue |
17,060.00 |
|
17,060.00 |
|||
PDC Activities |
32,905.00 |
|
32,905.00 |
|||
Interest |
55,684.25 |
|
55,684.25 |
|||
Realized Investment Gain/Loss |
(65,822.49) |
|
(65,822.49) |
|||
Total Revenues |
$179,043.13 |
$543,824.10 |
$722,867.23 |
|||
|
|
|
|
|||
Expenses |
||||||
Scholarships/Prof Dev Grants |
|
139,075.00 |
139,075.00 |
|||
Student Leadership Conference |
|
20,000.00 |
20,000.00 |
|||
Research Fellowship |
|
19,000.00 |
19,000.00 |
|||
Career Guide Publication |
3,608.88 |
|
3,608.88 |
|||
Scholarship 'Fees |
|
12,160.00 |
12,160.00 |
|||
PDC Activities |
23,661.23 |
|
23,661.23 |
|||
Meetings & Conference Calls |
22,369.57 |
|
22,369.57 |
|||
Printing & Postage |
22,650.45 |
|
22,650.45 |
|||
Miscellaneous Expense |
11,920.58 |
|
11,920.58 |
|||
Management Fees |
84,999.96 |
|
84,999.96 |
|||
Endowment Funding |
57,888.79 |
(57,888.79) |
|
|||
Total Expenses |
$227,099.46 |
$132,346.21 |
$359,445.67 |
|||
|
|
|
|
|||
Net Income |
($48,056.33) |
$411,477.89 |
$363,421.56 |
|||
|
|
|
|
|||
Unrealized (Gain)/Loss from Investment |
214,500.38 |
|
214,500.38 |
|||
- |
- |
- |
||||
|
214,500.38 |
|
214,500.38 |
|||
Increase in Net Assets |
($262,556.71) |
$411,477.89 |
$148,921.18 |
|||
Balance Sheet for 12 Month Period Ending 3/31/2009
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||