AMERICAN ASSOCIATION OF PROFESSOINAL LANDMEN
QUARTERLY BOARD of DIRECTORS MEETING, Farmington, PA
September 10, 2017
The AAPL Quarterly Board Meeting was held on September 10, 2017 at The Nemacolin Woodlands Resort in Farmington, Pennsylvania. David Miller, AAPL President, called the meeting to Order. The Invocation was given by Pamela Feist and 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 June 21, 2017 were adopted by acclamation.
Treasurer’s Report: Glen Mauldin, Treasurer, provided a report on AAPL and its affiliates for the period ending June 30, 2017 as follows:
As compared to June 30, 2016, AAPL, Inc.’s total assets have increased from $30,862,974 to $33,442,931 - a change of $2,579,957 or 8.4%. Total liabilities as compared to June 30, 2016 have increased from $2,269,532 to $2,528,729 - a change of $259,197 or 11.4%.
Revenues (exclusive of investment revenue) compared to June 30, 2016 have decreased from $7,089,907 to $6,055,961, a change of $1 million or 14.6%. The decrease in revenue is due to a reduction in NAPE distributions and management fees, a reduction in educational seminar fees and a reduction in member dues. NAPE distributions and management fees decreased $1 million (24.8% reduction from $4,016,968 to $3,020,426), which resulted from lower attendance at NAPE Summer and NAPE Denver. Educational seminar fees decreased $210,996 (27.4% reduction from $768,969 to $557,974) due to a decline in attendance. Member dues decreased $195, 185 (11.2% reduction from $1,741,432 to $1,546,247). Increases in annual meeting revenue of approximately $300,000 as well as contributions and rental income helped minimize the overall reduction in revenues.
Expenses have decreased 23.2% from $8,962,270 to $6,882,142. The decrease in expenses is due in large measure to reduced food and beverage, speaker expense and fees, and virtual attendance for education seminars (59.8% reduction from $834,429 to $335,511), a reduction in publications costs due to ceasing the Landman 2 publication (50.9% reduction from $721,605 to $354, 198), a decrease in general and administrative expenses (31.2% reduction from $2,177,959 to $1,497,372), a decrease in annual meeting expenses (26.3% reduction from $728,319 to $537,180) and a reduction in salaries, contract labor and benefits of 7.6% (from $3,914,889 to $3,617,778).
Investments as of June 30, 2017 are $24,549,421, an increase of $450,683 or 1.9% as compared to the same period last year. The change has been the result of unrealized and realized gains in the AAPL investment account in the amount of $2,822,779 and transfers of cash to the AAPL operating account, since June 30, 2016.
As of June 30, 2017, the Education Foundation, Inc.’s balance sheet reflects $3,736,834 which is an increase of $437,092 or 13.25% as compared to the same period last year. The Statement of Investment Accounts reflects $3,683,919 total monies invested which is an increase of $440,976 or 13.59% as compared to the same period last year.
As of June 30, 2017, the Landman Scholarship Trust’s balance sheet reflects $6,886,590 which is an increase of $655,289 or 10.51% as compared to the same period last year. The Statement of Investment Accounts reflects $6,869,085 total monies invested which is an increase of $708,124 or 11.49% as compared to the same period last year.
AAPL General Report:
The AAPL Membership Survey closed March 1, 2017. Those results are now available on the AAPL website. Also, the compensation survey was published in the September/October Landman magazine. The AAPL Board encourages the membership to review both surveys for their useful information. Total membership is at 14,017, up from 13,588 at this time last year. Membership includes 12,203 Active, 1,260 Associate, 366 student and 188 other. Currently, 5,348 members have AAPL certification.
NAPE Summit is turning 25 in 2018!
Tom Brokaw will be the Keynote Speaker at the NAPE Charities Luncheon.
Sponsorships for 2017 have already surpassed 2016 levels (6 months out from show).
Implementation of a Job/Career Fair.
Exhibitors are already outpacing last year.
Summer NAPE’s success was due to several new programs including the Hot Play Happy Hour and ATV giveaway.
208 exhibiting companies
Total sponsorship revenue increased by 23% over 2016
In response to Hurricane Harvey, AAPL and the AAPL Educational Foundation will contribute up to $1,250,000 to those AAPL members in need of assistance. AAPL will pledge $500,000 and match dollar-for-dollar up to another $500,000. The AAPL Educational Foundation will contribute $250,000. All contributions will benefit AAPL members. A new committee will be formed to review applications and distribute funds for relief. The committee will be chaired by the chair of the AAPL Educational Foundation and will not include any members of the Board of Directors or AAPL Executive Committee. The motion was unanimously approved by the board. NAPE Charities also contributed $50,000 for hurricane relief. For more information on donating, please visit the AAPL website.
The Field Landman Committee presented a motion to allow attendees of future Field Landman seminars to become a member for a discounted fee of $60 by attending the seminar and completing the necessary application. The attendee could not have been a member of AAPL for three years for the discounted fee to apply. The motion was unanimously approved.
Other Noteworthy News/Reports:
COPAS and the 2015 Master Land Service Agreement (MLSA) will soon be available on Contract Center.
AAPL is working with IT specialists to make the Contract Center more user-friendly.
Issues of the Landman magazine dating back to 2004 are now available on the AAPL website.
The Central Arkansas Landman’s Association has disbanded due to low membership.
The next Board of Director’s meeting will be December 3, 2017 at the Omni La Mansion Del Rio in San Antonio.
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.