2014 Annual Report Time

June 30, 2015

Sam Folio  -  former AFM International Secretary-Treasurer

The 2014 audit is complete, and I’ve included some highlights from the Annual Report here. Members can access the complete AFM Annual Report by going to AFM.org/uploads/protected/2014AR.pdf.

Financially I am pleased to report that, for the fourth year in a row, the Federation has finished in the black with income outpacing expenses. However, budget expectations were not met because the financial growth, as set by the 2013 AFM Convention, fell short.

There was a 12.3% increase in per capita payments received in 2014, compared to that of 2013, due to the increase in per capita rates granted at the 2013 AFM Convention, which became effective January 2014. Also, Federation work dues experienced a 5.83% increase also due to Convention action.

As far as membership goes, the Federation has shown moderate losses from 2013 to 2014. Comparison of 2013 and 2014 membership count:

Notable is the completion of the pay back of relocation funds that were borrowed. We had hoped that we would move from our 1501 Broadway address to a site that we would purchase, moving the AFM from a renter to an equity position. I am sorry to say that, though we gave it an effort, we were not able to buy a place and still have operating capital.

I take this personally and feel that I let AFM President Hair down in that respect. I will not be satisfied until I am able to bring us into our own building and turn our rent into equity for the AFM members. The AFM has recently renewed the lease at 1501 Broadway for three years, but during that time, we will continue the quest to find a way to purchase our own location.

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