AMERICAN ASSOCIATION OF PROFESSOINAL LANDMEN
QUARTERLY BOARD of DIRECTORS MEETING, La Jolla, CA
March 9-11, 2018
The AAPL Quarterly Board Meeting was held on March 11, 2018 at the Estancia La Jolla Hotel and Spa, La Jolla, California. David Miller, AAPL President, called the meeting to Order. The Invocation was given, followed by the introduction of guests and roll call of the Executive Committee, Directors and Committee Chairs. Upon adoption of the Agenda, the minutes from the last board meeting on December 3, 2017 were adopted by acclamation.
Treasurer’s Report: Glen Mauldin, Treasurer, provided a report on AAPL and its affiliates for the period ending December 31, 2017 as follows:
As compared to December 31, 2016, AAPL, Inc.’s total assets have increased from $30,069,402 to $33,535,061 – a change of $3,465,659 or 11.5%. Total liabilities, as compared to December 31, 2016, have increased from $1,448,114 to $1,777,398 - a change of $329,284 or 22.7%.
Revenues (exclusive of investment revenue) compared to December 31, 2016 have increased from $1,720,342 to $2,041,710, a change of $321,368 or 18.7%. The increase in revenue is due to the increase in membership dues prices, reinstatement of recertification fees, increase in publications income, Contract Center income and rental income from NAPE Expo.
Expenses have increased 8% from $3,160,166 to $3,412,999, a change of $253,833. The increase in expenses is due in large measure to a $545,679 disaster relief contribution AAPL made to the AAPL Educational Foundation. When excluding the donation, expenses decreased by 9.2% overall. The decrease is due to the elimination of governmental lobbying expenses and a reduction in salaries, contract labor, and benefits by moving seven employees to NAPE Expo.
Investments as of December 31, 2017 are $26,321,529, an increase of $2,444,253, or 10.2% as compared to the same period last year. The change has been the result of unrealized and realized gains in the AAPL investment account.
As of December 31, 2017, the Education Foundation, Inc.’s balance sheet reflects $4,454,830, which is an increase of $1,028,158 or 22.62% as compared to the same period last year. The Statement of Investment Accounts reflects $4,040,451 total monies invested which is an increase of $534,575 or 13.23% as compared to the same period last year.
As of December, 2017, the Landman Scholarship Trust’s balance sheet reflects $7,440,779, which is an increase of $912,623 or 12.27% as compared to the same period last year. The Statement of Investment Accounts reflects $7,294,106 total monies invested, which is an increase of $852,547 or 11.69% as compared to the same period last year.
AAPL General Report:
The new slate of officers was announced for the AAPL Executive Committee:
President: Mike Curry
1st Vice President: Jay Beavers
2nd Vice President: Cranford D. Newell, Jr.
3rd Vice President: Aaron Yost
Secretary: Chuck Walton
Treasurer: Michael Pisciotte
Update on AAPL’s disaster relief efforts:
As of the date of the meeting, nearly $74,000 has been raised. This was matched by both AAPL and the AAPL Educational Foundation.
There were 39 applications submitted for relief assistance of which 37 were approved and funds were distributed.
Funds continue to be distributed, as needed, to approved applicants in $5,000 increments.
Christopher Halaszynski has left AAPL and is no longer the Director of Education. Chris will be greatly missed as a member of the AAPL staff. AAPL will post the position and will work to find his replacement.
AAPL Membership was at 15,658.
AAPL’s 2018 Annual Meeting is in Denver, Colorado on June 19-20, 2018 at the Sheraton Downtown with David Lawler, BP Americas CEO as the Keynote Speaker. Breakout sessions covering the new Contract Center are planned, and 15.5 CEU credits are available for membership certification.
The 66th Annual Meeting in 2020 will be in Huntington Beach, California.
25th Anniversary of NAPE Summit.
12,300 were in attendance.
88 Sponsoring companies.
Revenues totaled $8,288,270.
NAPE Charities Luncheon raised $150,000 and had over 1,000 attendees.
These are all early numbers as of the time of the quarterly meeting.
Other Noteworthy News/Reports:
Members can still use online tools to express interest in serving on AAPL committees. The response has been very encouraging.
The AAPL Mobile App can be downloaded on your phone. The app includes details for educational and member services.
If you are in need of credits, please check the AAPL website as previously recorded seminars are available for as low as $10/credit.
The next Board of Director’s meeting will be at the Annual Meeting in Denver, Colorado on June 20, 2018.
If you are interested in serving on an AAPL or OCAPL committee or otherwise becoming more involved, please feel free to contact me. Additionally, if you have any questions, comments, concerns, or ideas regarding the AAPL and/or its services, please do not hesitate reach out.