2009 Annual Report - American Association of Petroleum Geologists

Reports of the Officers, Advisory Council, and Foundation
President
Personally, my year as president of AAPG
was both challenging and rewarding.
Challenging because AAPG’s previous two
presidents, Patrick J.F. Gratton and Peter R.
Rose, devoted a nearly full-time work
schedule to association duties. However, I
maintained a full-time position as
vice-president/exploration for Abraxas
Petroleum Corp. I needed a management
strategy to suit my situation. My role as
president was more like the role of
Chairman of the Board in business, and
the Executive Committee (EC) served as
the Board of Directors. We relied upon
AAPG staff to execute our plans and ideas.
Almost all of my interaction with staff was
directly with Rick Fritz, AAPG’s executive
director. We relied heavily on teamwork to
accomplish our goals this past year,
teamwork both within the EC and
between the EC and AAPG staff.
Being president of AAPG is an
enjoyable, demanding, and richly
rewarding experience. Hopefully,
members with the desire and talent
will heed the call for nomination, if
so chosen.
Many of the actions in 2006–2007
bore fruit because of the fertile ground
prepared by the previous year’s
leadership of Rose. Hopefully, we likewise
have “teed up” several good projects for
2007–2008 under Will Green.
I summarize last year’s activities under
the following categories.
Advance the Science
• Committee structure–reviewed all
committee mission statements,
organized into groups with a
committee manager for each group.
• Corporate Advisory Board
(CAB)–revised charge and procedure
for the former Corporate Advisory
Committee. EC will proactively request
advisory action on a variety of topics
that will be submitted to CAB. Topics
submitted this year are:
• Petroleum research grants–funding
for graduate students, administered
by AAPG, jointly funded by
corporations, foundations and AAPG.
• Petroleum professors of
practice-connecting qualified
non-academic members with
short-term academic assignments.
• Faculty endowments–endowed
financial support, administered by
1736 Annual Report
AAPG Foundation and supported by
industrial funds.
• Imperial Barrel Award–recommended
by Steve Veal (past vice-president),
international competition among
students at annual convention, utilizes
3-D seismic and other subsurface
data, team presentation on complete
assessment of hydrocarbon potential.
• E&P Notes–approved new guidelines for
apointment of “scouts” in various AAPG
Sections and Regions, scouts serve as
associate editors to find potential
authors or data on topics of interest for
the E&P Notes series, appointed special
editor for E&P Notes.
Statement of Income and Expenses
General Fund General Fund Budget
FY 2005-06 FY 2006-07 FY 2006-07
Operating Income
Dues $ 1,766,734.00 $ 1,770,877.00 $ 1,724,780.00
BULLETIN Subscriptions 312,540.00 303,020.00 300,000.00
Advertising Income 1,458,291.00 1,611,002.00 1,401,422.00
Sales of Publications 912,765.00 809,576.00 765,600.00
Interest and Dividends 549,933.00 819,039.00 400,000.00
Investment Income from NAPE - 418,183.00 325,000.00
Education and Misc. Service Fees 1,376,492.00 2,713,700.00 1,835,748.00
Conferences and Meetings 6,233,606.00 5,303,968.00 4,568,807.00
Page Contributions 30,270.00 28,486.00 19,800.00
Gain (Loss) on Datapages (66,757.00) (105,058.00) (216,711.00)
Gain (Loss) on International Pavilion 64,460.00 (17,916.00) -
Grant Income 416,677.00 476,674.00 581,388.00
Miscellaneous 436,125.00 1,146,563.00 938,208.00
TOTAL OPERATING INCOME:
Operating Expenses
13,491,136.00 15,283,114.00 12,644,042.00
Salaries $ 2,928,075.00 $ 2,824,890.00 $ 2,998,664.00
Employee Benefits 800,940.00 721,960.00 1,113,117.00
Publishing Cost of BULLETIN 200,284.00 214,243.00 154,200.00
Publishing Cost of EXPLORER 248,500.00 278,158.00 256,736.00
Cost of Special Publications Sold 356,761.00 235,788.00 264,300.00
General Office Expense 665,169.00 795,744.00 730,565.00
Postage and Shipping 562,466.00 598,874.00 508,473.00
Building Expense 230,712.00 204,855.00 245,413.00
Professional Fees 1,227,121.00 1,976,827.00 1,122,843.00
Staff Travel 227,340.00 381,310.00 267,489.00
Professional Travel 613,289.00 726,817.00 698,869.00
Conferences and Meetings 3,669,746.00 3,769,005.00 3,052,948.00
Depreciation 195,691.00 186,596.00 236,545.00
AGI Dues 68,726.00 68,989.00 68,000.00
Meeting Presence / Display 27,703.00 46,748.00 57,334.00
Miscellaneous Grants and Awards 347,790.00 350,716.00 340,777.00
Miscellaneous 708,275.00 383,324.00 533,732.00
TOTAL OPERATING EXPENSES: 13,078,588.00 13,764,844.00 12,650,055.00
Income (loss) from Operations
BALANCE SHEET SUMMARY
$ 412,548.00 $ 1,518,270.00 $ (6,013.00)
Assets $20,939,547.00 $22,186,249.00
Liabilities $6,337,436.00 $4,487,313.00
Fund Balance $14,602,111.00 $17,698,936.00
TOTAL LIABILITIES & FUND BALANCE $20,939,547.00 $22,186,249.00