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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


AANS Annual

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.