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Treasurer’s Report

May 2012

Overview Preliminary year end deficit is $318K for unrestricted

activities, on a consolidated basis

Preliminary year end surplus is $2.4M for the APA (the c6 entity) on a stand alone basis and a deficit of $2.7M for the APF.

APA & APF investments at December 31 totaled approximately $69M.

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Preliminary data - December 2011

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Unrestricted Activity: Annual Annual   Budget Actual Difference

Unrestricted Revenue 46,557 43,921 (2,636)

Unrestricted Expense 46,511 44,239 2,272

Unrestricted Operating Net Income/(Loss) 46 (318) (364)

Actuals compared to Budget

Publishing revenues were below budget by $705K due to decreased book sales, including DSM IV – offset by a positive variance in advertising revenues

Meeting revenues were below budget $1.1M due to reduced income from registration and exhibits

Expenditures were less than budget by $2.3M, due to vacancy savings, printing and postage costs, as well as meeting costs

Pension Expense estimated at $1.1M more due to market conditions.

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Membership Dues Revenue

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Membership 1970 - 2012

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Number of Dues Paying Members

7

International Members

8

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Advertising Revenue

Net Revenue from DSM IV

10

Net Revenue from Meetings

11

Atlanta

Toronto

San Diego

DC San Francisco

New Orleans

Hawaii

Registration + Course Fees

12

Pharma Revenue

13

Budgeted FTE

14

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Status of Reserves

Early Indicators - 2012

Membership dues revenue running below budget; lowest in several years. However, there’s an increase in members on monthly payment plan.

Meeting registration significantly below expectations; expect overall revenue (registration, exhibits and course fees) to be below budget.

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DSM V Development Cumulative

Through Dec 2011 Budget TotalSalary 8,674 2,383 11,057 Travel, Teleconference & Meetings 4,159 1,334 5,494 Consulting & Professional Fees 2,642 905 3,547 Field Trials 2,491 1,123 3,614 Other Costs 778 31 809 Total 18,744 5,776 24,521