AIChE Financial Statements
AIChE increased its net assets in 2013 by $4.8M, a near-record for the Institute. Operations contributed $1.4M to the total. All of our operating businesses exceeded budget: Meetings ($720K), Industry Technology Groups ($350K), Education ($120K), Publications ($100K), and Membership ($70K). Below the operating line, investment returns in the Permanent Fund contributed $2.3M to the overall results. The Pension Plan also generated positive returns which, coupled with an increase in interest rates, resulted in a favorable adjustment to our Pension Plan liability of $1.6M, bringing our Plan to a 94% funded level at year-end. The strong across-the-board performance raised our net assets to $18.0M at year-end, a level that hasn’t been seen since the late 1990s.
Financial Statements and Independent Auditors Report:
Financial Statement Summaries: