2014 AANS Annual Report - page 45

While fiscal 2014 was a profitable year financially for the American Association of Neurological Surgeons
(AANS), it also was a year that included a significant change in fiscal process and financial record-keeping.
Fiscal 2014 saw the creation of a new legal entity — the Neurosurgery Research and Education Foundation
(NREF). Prior to its incorporation, the activities of the NREF were conducted directly within the auspices of
the AANS; however, during fiscal 2014, activities and assets were divided between the AANS and the newly
incorporated NREF.
This change creates multifaceted channels for the AANS that can better serve its members and their
patients. Through the member association (AANS), its philanthropic arm (NREF) and its data collection and
reporting group, NeuroPoint Alliance (NPA), the AANS — taken as a whole — specializes in a variety of
activities that benefit neurosurgery: from advocacy to publishing, from research to education and from data
collection to outcomes studies.
Strong investment yields benefited the AANS and the NREF, which helped them both to finish with a
profitable year. NPA finished fiscal 2014 with its smallest-ever deficit, and it is anticipated that fiscal 2015
will see NPA operating as a profitable organization.
This report reflects the financial statements of the AANS, the NREF and the NPA, covering the period of
July 1, 2013, through June 30, 2014.
While the year-end financial statements 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
. Copies of the most recent audit
are available to members by writing to: AANS
Accounting Department, 5550 Meadowbrook
Drive, Rolling Meadows, IL 60008-3852.
FISCAL 2014 Financial Summary
1...,35,36,37,38,39,40,41,42,43,44 46,47,48
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