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American Society of Safety Engineers Foundation Annual Report

Fiscal Year Ending March 31, 2010

img1While 2009-2010 was a year filled with economic hurdles, the ASSE Foundation overcame these challenges and continued to thrive.  We thank our generous donors who had the vision to invest in the safety, health & environmental (SH&E) profession.

Total revenues were $653,510 consisting of donations, interest earnings, realized investment gains/losses, silent auction & golf outing proceeds and scholarship fees. Donations totaled $544,791 making it the third best year in the Foundation's twenty-year history.  Of this total, restricted fund revenues (programs earmarked for scholarship and research) totaled $394,250.

Corporate and organizational support continues its steady growth with leadership gifts received from the following organizations:

  • Visionary Donors ($15,000+) include CCHEST, Liberty Mutual Group, the Liberty Mutual Research Institute for Safety, the UPS Foundation, and URS Corporation.
  • Counselor Donors ($10,000-$14,999) include Aon, the Bechtel Group Foundation and the CNA Foundation.
  • Champion Donors ($5,000-$9,999) include BCSP, Mine Safety Appliances and Summit Training Source, Inc.
  • Advocate Donors ($2,500-$4,999) include AIU Holdings, BP Foundation & Willis Insurance Services of California.
  • Contributor Donors ($1,000-$2,499) include ISNetworld & Oregon Governors Occupational Safety & Health Conference.

ASSE Regions & Chapters showed their support of the profession by donating a stellar $132,615.  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 (4/1/2009-3/31/2010).

Member support continues at a steady pace with 20% of ASSE members making contributions on their membership renewal form.  Members donated over $103,000 while renewing their ASSE memberships.  In addition, the Board implemented a new Sustaining Donor program which recognizes those that have reached a lifetime giving record of $2,500 and give at least $100 each fiscal year.

On another positive note, the Foundation’s fund balance increased by 30% over the previous year with total assets of $2,690,013.  Interest income and realized gains/losses resulted in a net gain of 59,380.  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 Great Plains Chapter, the Southern Nevada Chapter, the Utah Chapter, friends of beloved ASSE staff member, Dick Buckley, the ASSE special interest group, Blacks in Safety Engineering and ISNetworld have 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 Carissa Harris Adamson for her study entitled “Ergonomic Evaluation of a Pallet Jack Extension Handle” and
  •  A $9,500 fellowship to Adam Strange for his study entitled “Age Related Changes in Postural Control Assessed via Nonlinear Time Series Analyses”

Over $153,000 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.

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 & URS Corporation.

Total expenses of $180,065 were related to newsletter production, meetings, conference events, management fees and unrestricted program expenses.  $81,425 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.  Two new members joined this elite group this past year bringing the total group to seventeen members as of March 31, 2010.

As we look to FY2011, ASSEF will offer approximately $170,000 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 Schaumburg, Illinois on November 4-5, 2010. 

The Liberty Mutual Research Fellowship Program will be offered again at the Liberty Mutual Research Institute for Safety for two fellows during summer 2011.  In addition, the Applied Safety Research Grant program will be reinstated offering up to $20,000 for a study that would enhance management performance in reducing injuries and illness in the workplace.

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 2011. 

We will also offer 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.

And lastly, we will continue to contain costs by converting our bi-annual newsletter to an electronic format saving at least $20,000 per year.

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.


Eddie Greer, CSP, OHST
Foundation Chair, Fiscal-Year 2010

Statement of Revenue and Expenses

For the Twelve Months Ending March 31, 2010
Revenues
Operating Fund
Restricted Fund
Consolidated

Contributions

$142,452.00

$394,250

$536,702

Scholarship Revenue

$18,810.00

 

$18,810.00

PDC Activities

$38,618.00

 

$38,618.00

Interest

 

$59,904.77

 

Realized Investment Gain/Loss

($524.29)

 

($524.29)

       

   Total Revenues

$199,355.34

$454,154.41

$653,509.75

 

 

 

 

                           Expenses

Scholarships/Prof Dev Grants

 

$151,925

$151,925

Scholarship Fees

 

$12,890.00

$12,890.00

Research Fellowship

 

$19,000.00

$19,000.00

Student Leadership Conference

 

$20,000.00

$20,000.00

Meetings & Conference Calls

$27,829.42

 

$27,829.42

Printing & Postage

$22,530.86

 

$22,530.86

PDC Activities

$26,355.49

 

$26,355.49

Miscellaneous Expense

$13,350.50

 

$13,350.50

Management Fees

$90,000.00

 

$90,000.00

Endowment Funding

$81,425.39

($81,425.39)

 

       
       

   Total Expenses

$261,491.66

$122,389.61

$383,881.27

 

 

 

 

   Net Income

($62,136.32)

$331,764.80

$269,628.48

 

 

 

 

Unrealized (Gain)/Loss from Investment

($342,153.02)

 

($342,153.02)

 
-
-
-

 

($342,153.02)

 

($342,153.02)

       

Increase in Net Assets

($280,017.46)

$331,764.80

$611,782.26

 

Balance Sheet for 12 Month Period Ending 3/31/2010

Assets

 

Cash and Equivalents

$320,428

Investments

$2,359,102

Accounts Receivable

0

Due From ASSE

$1,723

Accrued Investment Income

$6,539

Prepaid Expenses and Deposits

$2,221

 

-

   Total Assets

$2,690,013

Liabilities and Net Assets

 

Liabilities

 

   Accounts payable

   Other Accrued Expenses

$152,850

   Deferred Revenue

$3,500

-

   Total Liabilities

$156,350

Net Assets

 

   Fund Balance - Trustee Restricted

$209,863

   Fund Balance - Donor Restricted

$1,691,464

   Fund Balance - Unrestricted

$632,336

 

 

$2,533,663

 

   Total Liabilities and Net Assets

$2,690,013