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American Society of Safety Engineers Foundation Annual Report

Fiscal Year Ending March 31, 2011

The ASSE Foundation is strong.  Despite continued economic uncertainty reflecting slow growth and high unemployment, the Foundation continues to thrive. We thank our generous donors who had the vision to invest in the safety, health & environmental (SH&E) profession.

Total revenues were $614,935 consisting of donations, interest earnings, realized investment gains/losses, silent auction & golf outing proceeds and income from the scholarship program. Donations totaled $505,177 making it the fourth best year in the Foundation's twenty-one year history.  Of this total, restricted fund revenues (programs earmarked for scholarship and research) totaled $343,297.

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

  • Visionary Donors ($15,000+) include Liberty Mutual Group, the Liberty Mutual Research Institute for Safety, the Texas Safety Foundation, the UPS Foundation and URS Corporation.
  • Counselor Donors ($10,000-$14,999) include Aon, the Bechtel Group Foundation, the CNA Foundation and Flatiron Construction Company.
  • Champion Donors ($5,000-$9,999) include Applications International Corporation, the Board of Certified Safety Professionals and Summit Training Source, Inc.
  • Advocate Donors ($2,500-$4,999) include Pekron Consulting, Inc. & Willis North American Inc. Contributor Donors ($1,000-$2,499) include ISNetworld, SiteHawk and Spectra Energy

ASSE Regions & Chapters showed their support of the profession by donating a stellar $126,153. Emphasis on a named chapter scholarship program and additional outreach led to these leadership gifts. Twenty-five percent of the ASSE chapters supported the Foundation this past fiscal year (4/1/2010-3/31/2011).

Member support continues at a steady pace with 20% of ASSE members making contributions on their membership renewal form. Members donated over $113,000 while renewing their ASSE memberships. In addition, the Board continued to showcase the Sustaining Donor program which recognizes those that have reached a lifetime giving record of $2,500 and give at least $100 each fiscal year. The Foundation's Planned Giving program, the Legacy Trust, continues to grow and will sustain the Foundation into the future. Members can name ASSEF in their wills or as a beneficiary to their life insurance policies. As of March 31, 2011, 18 members participate in this program.

Foundation Programs, aligned with our mission, continue to grow.

The scholarship and grant program increased by 12% over the previous year with eleven new awards offered in 2011. In total, $171,475 was awarded to 102 individuals pursuing degrees in SH&E and to safety professionals seeking to advance their professional credentials.

$96,775 was allocated to the restricted scholarship and professional education grant funds using interest earned in the investment portfolio ($63,936) as required by the ASSE Foundation Restricted Fund Policy. The shortfall of $36, 944 was funded from the ASSEF unrestricted fund.

Under the Liberty Mutual Safety Research Fellowship program, $19,000 was awarded to:

  • Justin Young for his study entitled "the Effect of the Hand-Handle Interface on Push Efficiency: Data Analysis and Biomechanical Modeling"
  • Chad Uy for his study entitled "the Effect of Handle Design on the Kinetics and Kinematics of a Pouring Task"

The Foundation's research agenda was advanced through the funding of two new initiatives:

  • $19,320 was awarded to the Rand Corporation for Phase I of a risk assessment study, entitled, "The Impact of Governmentally Mandated Employer Risk Assessments on Occupational Safety and Health Outcomes." The study aims to provide a better understanding of the various legislative approaches to employer-mandated occupational safety and health risk assessment regulations, a comprehensive analysis of their impact and an identification of key language requirements, tools and techniques found in successful regulations. The study will place a renewed focus on the importance of safety professionals to the risk assessment process.
  • $8,000 was awarded to Michael Behm, PhD, CSP, for Phase I of his project entitled, 'Analyzing Trends in Occupational Safety Problem Solving.' Through his study, Behm will evaluate whether recent national focuses on prevention through design and the use of the hierarchy of controls have caused a change in the way organizations are problem solving during incident investigation and analysis.

The Foundation continued its support of students through its 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 ($26,800). Major co-sponsors included Liberty Mutual Group & the URS Corporation. Other sponsors included the ASSE Greater Chicago Chapter, the Hawaii Chapter, the Arizona Chapter, the Central Indiana Chapter, and the Central Florida Chapter.

Two grants were awarded to Murray State University ($3,500) and the University of Central Missouri ($1,750) under the James A. Oppold Fund for universities and colleges seeking ASAC/ABET accreditation of their safety and health programs.

Total expenses of $194,884 were related to newsletter production, meetings, special events held around the annual conference in Baltimore, management fees and unrestricted program expenses. The Foundation's total assets are valued at $2,976,547 and have increased by nearly 11% over the previous year reflecting $190,280 from operating income and $98,092 from the improved value of investments. The Foundation's investment managers have funds prudently invested in equities, short/medium-term high quality bonds and cash.

As we look to FY2012, ASSEF will offer approximately $170,000 in scholarships and professional education 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 Chicago on November 3-4, 2011.

The Liberty Mutual Research Fellowship Program will be offered again at the Liberty Mutual Research Institute for Safety for two fellows during summer 2012. In addition, the Applied Safety Research Grant program will be reinstated offering a grant 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 2012.

We will also offer 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 three 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.


Eddie Greer, CSP, OHST
Foundation Chair, Fiscal-Year 2011

Statement of Revenue and Expenses

For the Twelve Months Ending March 31, 2011
Revenues
Operating Fund
Restricted Fund
Consolidated

Contributions

$161,879.52

$343,297

$505,176.52

Scholarship Revenue

$21,820

 

$21,820

PDC Activities

$29,723.50

 

$29,723.50

Interest

 

$63,936.29

$63,936.29

Realized Investment Gain/Loss

($5,721.76)

 

($5,721.76)

  ----------------- -------------------- ---------------------

   Total Revenues

$207,701.26

$407,233.29

$614,934.55

 

 

 

 

                           Expenses

Scholarships/Prof Dev Grants

 

$188,343

$188,343

Safety Research Fellowships

 

$19,000

$19,000

Future Safety Leaders Conference

 

$26,800

$26,800

Reasearch Grants

 

$27,320

27,320

ABET Accrediation Grants

 

$5,250

$5,250

PDC Activities

$21,544.67

 

$21,544.67

Meetings & Conference Calls

$21,761.52

 

$21,761.52

Printing/Postage

$2,170.30

 

$2,170.30

Investment Fees

$14,206.56

 

$14,206.56

Miscellaneous Expense

$3,258.09

 

$3,258.09

Management Fees
$95,000.00
 
$95,000.00
Endowment Funding
$36,943.72
($36,943.72)
0.00
  ----------------------- -------------------- ---------------------

   Total Expenses

$194,884.86

$229,769.28

$424,654.14

   Net Income

$12,816.36

$177,463.88

$190,280.24

 

 

 

 

Unrealized (Gain)/Loss from Investment

($98,092.57)

 

($98,092.57)

  ----------------------- ----------------------- -----------------------

 

($98,092.57)

 

($98,092.57)

       

Increase in Net Assets

$110,908.93

$177,463.88

$288,372.81

 

= = = = = = = = = = =

= = = = = = = = = = =

= = = = = = = = = = =

 

Balance Sheet for 12 Month Period Ending 3/31/2011

Assets

 

   

Cash and Equivalents

$272,097

Investments

$2,687,240

Accounts Receivable

12,563

Due From ASSE

0

Accrued Investment Income

0

Prepaid Expenses and Deposits

$4,647

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

   Total Assets

$2,976,547

 

= = = = = =

Liabilities and Net Assets

 

Liabilities

 

   Accounts payable

$151,722

   Other Accrued Expenses

$18,115

   Due from ASSE/ASSEF

($21,906)

   Deferred Revenue

$6,500

------------

   Total Liabilities

$154,431

Net Assets

 

   Fund Balance - Trustee Restricted

$216,928

   Fund Balance - Donor Restricted

$1,861,790

   Fund Balance - Unrestricted

$743,398

 

 

 

$2,822,116

 

 

 

 

   Total Liabilities and Net Assets

$2,976,547

 

= = = = = =