ANA in the black - say it ain't so!
dorancoins
Posts: 2,091 ✭✭✭
Hello Every one - I found this on Numismatic News online. Looks like the ANA might be in the black. What do you think? Read the article and give me your input, opinion, etc.
<< <i>Cipoletti reports ANA closing gap
By David C. Harper
The American Numismatic Association has too much money in the view of some grant-giving institutions, said Christopher Cipoletti, ANA executive director, at one point during the Aug. 14 public meeting of the board of governors during the World’s Fair of Money in Denver. Colo.
While that may have closed a few doors to the ANA, he nevertheless delivered financial good news in the form of a quarterly budget update that showed a shortfall from where they wanted to be of less than $30,000.
This, Cipoletti explained, was more of a revenue-timing issue than a problem. He expressed confidence that the 2006-2007 budget would reach its target. The budget, which was adopted in April in Atlanta, forecasts a nearly $93,000 surplus in a $5.8 million package.
Cipoletti also expressed confidence that ANA negotiations with an unnamed multinational corporation would lead to $250,000 in sponsorships and gifts.
Traditional sources of funding were also looking much healthier. Vice president Barry Stuppler reported that when the three-year contract expires with Numismatic Guaranty Corporation, the official ANA grading service, in February 2007, it will be replaced by contracts with two or three grading services that will both give ANA members wider choice and more than double annual revenue to a forecast $420,000.
Bid openings for the 2008 Phoenix National Money Show and the summer 2008 Baltimore World’s Fair of Money revealed competition between two firms and new ideas that could lead to even more revenue in future years.
For Phoenix, Heritage Auctions bid a flat $135,000, while Bowers and Merena bid $85,000, plus one percent of hammer prices over $5 million. If this 2008 auction would have results like the spring 2006 Atlanta sale, which realized almost $16 million, the Bowers and Merena bid would be higher. That, however, puts the board in the position of trying to figure out auction conditions two years from now.
Heritage added a new wrinkle with its bid for Baltimore. Under standard terms, it bid $501,000. However, if the board would change the rules and increase the number of lots that can be sold and lengthen the official sale dates into the pre-ANA convention period, its bid was $626,000.
Cipoletti immediately cautioned that to accept the longer auction would be a change in policy. To be fair to all bidders, it could not be done in 2008. It is something, though, to look at for 2009 and beyond, he said.
For the 2008 Baltimore sale, Bowers and Merena bid $460,000, or $400,000 plus one percent of the hammer prices between $15 million and $20 million, and two percent over $20 million. If a sale like 2005 San Francisco’s $25 million occurs, the Bowers and Merena bid would be worth around $550,000.
Cipoletti was asked to prepare a spreadsheet for an Aug. 16 board meeting before a decision would be made. The results were not known before this issue was laid out.
The board confronted a number of old hot-button issues, such as endowment use policy, but the fire of prior meetings seemed to have been extinguished in the general good news and feeling among the board members.
Future educational initiatives include a possible virtual museum, where online images and information would be made available to the public. No decision was made, but it was an example of the forward-looking agenda. Gov. Alan Herbert commented following staff presentations that they were “the best I have seen at one of our meetings.”
One other bit of good news: the annual audit for the budget year ending March 31, 2006, shows ANA assets up by $1.2 million. The audit will be published in the Numismatist after future board approval.
Gov. Don Kagin reported the beginning of sales of the San Francisco Old Mint commemoratives. He hoped for a sellout, which would raise $8.5 million for the Old Mint restoration project. He said the American Money and Gold Rush Museum would occupy the ground floor of the Old Mint and a $5 million capital campaign would be conducted to help furnish it. He thanked dealers for the $150,000 in donations that funded the successful lobbying of Congress for the commemoratives.
The ANA board also began a process to determine whether the organization should regularly give its positions on political issues, like abolishing the cent. ANA President Bill Horton said this issue should be researched a little bit more. >>
<< <i>Cipoletti reports ANA closing gap
By David C. Harper
The American Numismatic Association has too much money in the view of some grant-giving institutions, said Christopher Cipoletti, ANA executive director, at one point during the Aug. 14 public meeting of the board of governors during the World’s Fair of Money in Denver. Colo.
While that may have closed a few doors to the ANA, he nevertheless delivered financial good news in the form of a quarterly budget update that showed a shortfall from where they wanted to be of less than $30,000.
This, Cipoletti explained, was more of a revenue-timing issue than a problem. He expressed confidence that the 2006-2007 budget would reach its target. The budget, which was adopted in April in Atlanta, forecasts a nearly $93,000 surplus in a $5.8 million package.
Cipoletti also expressed confidence that ANA negotiations with an unnamed multinational corporation would lead to $250,000 in sponsorships and gifts.
Traditional sources of funding were also looking much healthier. Vice president Barry Stuppler reported that when the three-year contract expires with Numismatic Guaranty Corporation, the official ANA grading service, in February 2007, it will be replaced by contracts with two or three grading services that will both give ANA members wider choice and more than double annual revenue to a forecast $420,000.
Bid openings for the 2008 Phoenix National Money Show and the summer 2008 Baltimore World’s Fair of Money revealed competition between two firms and new ideas that could lead to even more revenue in future years.
For Phoenix, Heritage Auctions bid a flat $135,000, while Bowers and Merena bid $85,000, plus one percent of hammer prices over $5 million. If this 2008 auction would have results like the spring 2006 Atlanta sale, which realized almost $16 million, the Bowers and Merena bid would be higher. That, however, puts the board in the position of trying to figure out auction conditions two years from now.
Heritage added a new wrinkle with its bid for Baltimore. Under standard terms, it bid $501,000. However, if the board would change the rules and increase the number of lots that can be sold and lengthen the official sale dates into the pre-ANA convention period, its bid was $626,000.
Cipoletti immediately cautioned that to accept the longer auction would be a change in policy. To be fair to all bidders, it could not be done in 2008. It is something, though, to look at for 2009 and beyond, he said.
For the 2008 Baltimore sale, Bowers and Merena bid $460,000, or $400,000 plus one percent of the hammer prices between $15 million and $20 million, and two percent over $20 million. If a sale like 2005 San Francisco’s $25 million occurs, the Bowers and Merena bid would be worth around $550,000.
Cipoletti was asked to prepare a spreadsheet for an Aug. 16 board meeting before a decision would be made. The results were not known before this issue was laid out.
The board confronted a number of old hot-button issues, such as endowment use policy, but the fire of prior meetings seemed to have been extinguished in the general good news and feeling among the board members.
Future educational initiatives include a possible virtual museum, where online images and information would be made available to the public. No decision was made, but it was an example of the forward-looking agenda. Gov. Alan Herbert commented following staff presentations that they were “the best I have seen at one of our meetings.”
One other bit of good news: the annual audit for the budget year ending March 31, 2006, shows ANA assets up by $1.2 million. The audit will be published in the Numismatist after future board approval.
Gov. Don Kagin reported the beginning of sales of the San Francisco Old Mint commemoratives. He hoped for a sellout, which would raise $8.5 million for the Old Mint restoration project. He said the American Money and Gold Rush Museum would occupy the ground floor of the Old Mint and a $5 million capital campaign would be conducted to help furnish it. He thanked dealers for the $150,000 in donations that funded the successful lobbying of Congress for the commemoratives.
The ANA board also began a process to determine whether the organization should regularly give its positions on political issues, like abolishing the cent. ANA President Bill Horton said this issue should be researched a little bit more. >>
DORAN COINS - On Facebook, Instagram, X (formerly Twitter), & www.dorancoins.net - UPCOMING SHOWS (tentative dates)- 10/8/2023 - Fairfield, IL, 11/5/2023 - Urbana, IL., 12/3/2023 - Mattoon, IL.
0
Comments
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
Steve
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
<< <i>My initial opinion is WHY was this information provided to the media JUST before the ANA convention so that it could not be made available to members until after. Why suddenly do we hear VERY detailed comments about who will compete for the 2008 auction when in the past this was kept quite until the final contract was signed. Lots of good information provided, but it just seems to me that it should have been made public in June, not now. I do not believe the information was suddenly provided to the media AFTER the board approved whatever they did at the board meetings. I still don't know what was actually done there. Future revenue streams happen when they happen, but Mr. C sure can paint a rosy picture now and who can argue with him. JMHO.
Steve
After reading that a couple of times, I think the whole thing is a a huge pile of bollocks!
An amazing transformation for an organization that looked to be on the ropes.
They are feeling the heat and needed to put a positive spin on things.
My Complete PROOF Lincoln Cent with Major Varieties(1909-2015)Set Registry
<< <i>Just when everything looked dire...... Surprise!! everything is really all right after all.
An amazing transformation for an organization that looked to be on the ropes.
They are feeling the heat and needed to put a positive spin on things. >>
Personally, I've haven't seen this much spin since Bill Clinton and Monica-Gate!
<< <i>What we really need now is someone who is well known in the hobby with a recognizable name who will step up and LEAD a number of other ANA members to reform the organization. One name that comes to mind is Cliff Mishler who had the run in with the current board last year. With Numismatic News media support as well hopefully Coin World, others can join Cliff seeking reform of the ANA board including Mike and Walt Ostromecki. Politically, Cliff might not want to do it, but someone of his stature is needed in my opinion. Steve
Cliff Mishler would be a fine choice, as I had the privilege of meeting him at the Illinois Numismatic Association show last year. But he is employed with Whitman and I don't think he'll make a go at it - but you never know.
As far as media support goes, Numismatic News (F&W/Krause) will not be a problem. Dave Harper, the editor, wrote a piece just after it was announced that Walter Ostromecki was removed (more like overthrown) from the ANA board and basically grilled the board big time. I wrote to him and gave him kudos on his article but, at the time, told him not to print it as I was running for the Central States board for the second time (so that any of my opposition couldn't use it as ammo.) As for Coin World, Beth Deishler has been just as outspoken but I have never met any of the Coin World people. And your truly is good with websites and graphic design - and I need to try to find a way to place a campaign video online - any suggestions?
<< <i>While that may have closed a few doors to the ANA, he nevertheless delivered financial good news in the form of a quarterly budget update that showed a shortfall from where they wanted to be of less than $30,000. >>
I don't know what this means, but my take on it is they are $30,000 unfavorable vs. whatver the budget is. Whether this is "in the black" or not I can't tell from the information provided.
An authorized PCGS dealer, and a contributor to the Red Book.
And what's the deal about what's in the works when NGC/ANA expires? I think they should pick Global Certification.
Jerry
<< <i>Wasn't it just a couple weeks ago that all the talk was about how they were 7 or 8 hundred K in the red and how this was the third or fourth year of near or over milion dollar shortfalls? >>
Yes indeed. I don't know what to believe anymore when it comes to the ANA. They have dropped by about 1,000 members from earlier
this year if the monthly stats in the Numismatist are correct, seems that would be hurting them financially but who knows anymore.
<< <i>
<< <i>Wasn't it just a couple weeks ago that all the talk was about how they were 7 or 8 hundred K in the red and how this was the third or fourth year of near or over milion dollar shortfalls? >>
Yes indeed. I don't know what to believe anymore when it comes to the ANA. They have dropped by about 1,000 members from earlier
this year if the monthly stats in the Numismatist are correct, seems that would be hurting them financially but who knows anymore. >>
The whole thing is a bunch of bollocks - nothing but smoke and mirrors to deceive the membership, which the board thinks that they know nothing!