2015 ANNUAL REPORT
AANS AND RELATED ORGANIZATIONS
FISCAL 2015 FINANCIAL SUMMARY
The American Association of Neurological Surgeons
(AANS) finished the year slightly in the black, despite an
original budget that anticipated a loss in FY15. There were
several contributors to the success. The 83
Scientific Meeting performed better than forecast, enjoying
record-breaking attendance. Despite a challenging investment
environment, the AANS investments exceeded forecast.
And, in anticipation of the budget challenges, management
worked to reduce spending in administrative areas.
NeuroPoint Alliance (NPA), which had operated at a loss
since its inception, enjoyed its’ first year of profitability, albeit
a modest one. With its performance in FY15, the NPA
is beginning to move into the role of financial contributor.
The NPA has solidified and grown its N
QOD base and
moved into contract studies, such as the $3 million three-year
Stereotactic Radiosurgery (SRS) Registry. Now, in addition
to the AANS’ and NREF’s ongoing efforts to add value to
the science of neurosurgery, the NPA is making a significant
foray into the area of medical outcomes, supporting the
science of practice.
The Neurosurgery Research and Education Foundation, in its
second year as a stand-alone corporation, experienced a loss
on its books of approximately $137,000. In great part, the loss
can be attributed to the rapid expansion of the new Honor
Your Mentor (HYM) fundraising initiative. Gifts to the HYM
funds are restricted in nature and, therefore, are not included as
a part of the NREF’s financials. A fuller picture of the NREF’s
performance in FY15 reveals that the first full year of the
HYM program saw pledges of nearly $1.2 million, $700,000 of
which has already been collected.
This report reflects the financial statements of the AANS, the
NREF and the NPA covering the period of July 1, 2014 to
June 30, 2015.
While the year-end financials of the AANS, the NREF and
the NPA are audited by outside auditors, this annual report
is being prepared prior to a completed audit and contains
unaudited final numbers. Any material differences between a
published financial statement and the auditor’s report will be
communicated to AANS members in AANS Neurosurgeon.
Copies of the most recent audit are available to members
by writing to: AANS Accounting Department, 5550
Meadowbrook Drive, Rolling Meadows, IL 60008-3852.