Treasurer's Report (2015)
Econometrica, Vol. 84, No. 1 (January, 2016), 383–388
THE ECONOMETRIC SOCIETY ANNUAL REPORTS
REPORT OF THE TREASURER
MONTRÉAL, CANADA
AUGUST 15–21, 2015
1. 2014 ACCOUNTS
THE TOTAL ASSETS OF THE ECONOMETRIC SOCIETY remained stable in 2014,
at $3.13 million at the end of the year. The Society’s net worth stood at $2.48
million, an increase of 12.9% over the year. The value of the Society’s financial
portfolio (cash and investments) decreased slightly, from $2.69 million to $2.52
million over 2014. Table I presents the end-of-year balance sheet of the Society
from 2011 to 2014.
Table II gives the revenues of the Society and Table III gives its expenses.
This year the Society had a positive net operating income, of $119,252. This is
largely due to the good performance of our US equity portfolio; the Society
still needs to explore alternative sources of revenue in the face of decreasing
income from institutional subscriptions.
Since 2013 the Society employs Schulman Lobel of North Brunswick, New
Jersey as its accounting firm to assist us with bookkeeping and advise us on
compliance requirements. Our auditors Rothstein, Kass & Company were
taken over by KPMG of New York on July 1, 2014; this delayed the audit
of our 2013 accounts, which were only validated in February 2015. We hired
Eisner-Amper to audit our 2014 accounts and they should report early in the
fall.
2. MEMBERSHIP AND INSTITUTIONAL SUBSCRIPTION RATES
The Executive Committee decided in 2009 to introduce a three-tier pricing
scheme for institutional subscriptions. The tiers are based on the World Bank
classification of countries, with a high-income tier, a middle-income tier, and
a low-income tier comprising those economies classified as low-income by the
World Bank plus the International Development Association (IDA) countries.
Income classifications are set by the World Bank each year on July 1.
