Report of the Executive Secretary and Treasurer

• Date: 01 August 2017
• Published date: 01 August 2017
• DOI: http://doi.org/10.1111/jofi.12533

THE JOURNAL OF FINANCE •VOL. LXXII, NO. 4 •AUGUST 2017

AMERICAN FINANCE ASSOCIATION

Report of the Executive Secretary and Treasurer

for the Fiscal Year Ending June 30, 2016

Financial: The Association remains in a strong financial position with the

total assets just over $16 million as of June 30, 2016. Net Operating Income for

the fiscal year was $339,776. Realized and unrealized capital gains amounted

to $113,519 for the same period. The Association’s net worth increased by 3%

for the year.

Please note: The audited financial statements are now posted on the AFA

website (www.afajof.org).

Membership: Membership totals over the past ten years are represented in

the following exhibit:

The library and corporate count of 2,955 in 2016 was up 45% from 2015. This

is a bit misleading because the totals include institutions with a paid institu-

tional subscription to the journal as well as institutions with Wiley collection

(bundled) subscriptions. This category was predicted to increase with Wiley’s

new sales model.

AFA regular (active) membership numbers have held steady after last year’s

significant increase. Student membership, alternatively, continues to rise by

37% in 2016 (after a 157% increase in 2015). In sum, AFA total membership

numbers have surpassed the peak of 10,000 last reached in 2009.

DOI: 10.1111/jofi.12533

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