Report of the Treasurer
for the Year Ending June 30, 2000
General Statement
In Fiscal Year 2000 Sigma Xi's net assets increased from $21,402,126 to $21,914,150,
an increase of 2.39% from FY1999. Total revenues for Fiscal Year 2000 were $6,102,900, a
decrease over the previous fiscal year of $2,024,600 or 24.91%. This decrease was due
primarily to a decrease in total return on investments from $3,446,123 in FY1999 to
$1,308,052 in FY2000, reflecting market volatility over the past year. Dues and fees
increased as a result of the increase in member dues rates, even though active membership
declined from 78,900 to 74,600. The membership numbers include 3,000 new and reactivated
members added by the Society in FY2000. Student membership decreased from 7,900 to 6,200
and emeritus membership increased from 14,600 to 15,900. Both of these latter groups pay
dues at a reduced rate.
Operating expenses for Fiscal Year 2000 were $5,590,800, an increase from the previous
fiscal year of $177,600 or 3.28%. Categories of increased expense included American
Scientist; Development, Communications and Center Programs; Grants-in-Aid of Research;
Grant Funded Programs; and Management and General (due to increased investment management
and legal fees). Expense categories that showed a decrease were Membership, Qualifications
and Annual Meeting; Forum; Media Resource Service; Other Programs; and Capital Campaign.
Perspective
Despite a volatile securities market, Sigma Xi continued to experience strong fiscal
performance. The Society's net assets now stand at a record level of more than $21.9
million, and the accumulated unallocated deficit from prior years continues to decline.
Much credit can again be given to careful fiscal management by Headquarters Staff.
The long-term health of the Society is still jeopardized, however, by the persistent
decline in membership. Unless this trend can be halted, it will not be possible for Sigma
Xi to continue to achieve its goals for service to its members and society.
Statements
of Cash Flows
Statements of Financial Position
Statements of Activities and Changes in Net Assets
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