Financial problems continue to dog the ANA

Michigan

Current deficit is at less than $800,000 but mounting legal bills, the economic downturn and softening of the coin market all contribute to a
serious cash flow problem according to the latest issue of Numismatic News.

The summer seminar operates at a loss of $300 per student. Tuition and fees will be raised.

New membership options are being considered. An admission charge to the ANA museum is also being considered along with an admission
charge to the ANA conventions for non members.

The ANA is not in any serious financial situation with the endowment at $2,175,465 and the Ben E. Keith stock valued at $14.5 million plus
the value of the ANA museum collection which is not shown on the books but worth millions as well.

Mark

Michigan:

Are the legal bills actually "mounting" or perhaps "on-going and actually a bit lower than before"? I hope the latter description is more accurate than "mounting" ...

BBQnBLUES

Well, They should consider auctioning off duplicates in their collection ! Collectors with deep pokets would jump at the chance.

Michigan

<< <i>Michigan:

Are the legal bills actually "mounting" or perhaps "on-going and actually a bit lower than before"? I hope the latter description is more accurate than "mounting" ... >>




The article says "continue to mount" Legal fees were budgeted at $178,500 but came in at $417,620.

Coinosaurus

Thanks goodness the ANS sold off their NYC property when they did.

The ANA has concluded some of their litigation but apparently the remaining part is being costly. They are headed in the right direction.

Bear

Well, there are 240 people on this web site now,

what say we each send 4,000 dollars to the ANA

and the problem is solved.