Through the first quarter of 2020, our National ARPAS organization continues to remain in a solid but general declining financial position. Year over year, through March, our Total Net Asset position is behind March 2020 by $130,020, due mainly to a fall in membership services, unrealized investment losses, and accrued FASS and Elsevier fees. Two shining beacons of hope are the growth in Annual Registry Sponsorships and growth in Applied Animal Science journal page charges.

A HUGE THANKS goes out to Al Kertz and the members involved in getting individuals and companies to participate in sponsorship of our ARPAS organization. The added $21,000 makes a huge difference in our ability to support the ARPAS Symposia and the educational opportunity it provides to our industry colleagues. Additionally, author support of our AAS journal is helping maintain our organization as revenue generation is at 33% of predicted through only 25% of our budgeted year. Hopefully our members will continue to see the value in the AAS journal and will submit their research for publication.

Unfortunately, COVID-19 and its impact on our economy and investments have been less favorable. While financially these are unrealized losses, we hope to recover some or all of them in the coming months as the economy reopens and the markets recover. As indicated, another headwind for our finances has been a moderate decline in membership. This unforeseen pandemic has affected our ability to participate in conferences and administer tests to potential new members. These challenges have negatively affected our membership and thus revenue generation. If you know of someone interested in getting certified as a PAS member, please do not hesitate to reach out to Steve Schmidt, Brittany Morstatter, or one of the executive officers, and we will help administer a test electronically.

Last, we are very fortunate to have Brittany and the FASS team in supporting our national and regional ARPAS organizations and their attention to our financial challenges by staying under budget.

As always, we need to continue our focus on membership growth while remaining fiscally conscious. But most importantly, stay safe and stay well!