The year 2019 was a good financial year. JWHA increased its financial net worth by $101,808 and our aggregate investments totaled $557,467 with an annual investment rate of return of 18.6%.

We also had financial challenges. Our annual membership fees totaling $11,245 may not be enough to sustain our organization in the future.

While our 2019 Rochester, New York (Palmyra) conference was a huge success, we incurred a conference loss of almost $10,000 in order to keep low registration fees. Contributions and sponsorships contributed about one-half of total income. Most came from a single generous anonymous donor. The sales of John Whitmer Historical Association books netted $5,397 net income, and revenue sharing fees of accessing previous Journal articles brought in $3,600.

Summary financial data for the calendar year 2019 include:

  1. Cash and Investment (Total Assets) – $582,624
  2. Equity – $582,624
  3. Total Operating Income – $119,622
  4. Total Operating Expenses – $118,170
  5. Net Operating Income – $1,452
  6. Add Investment gains, losses, and earnings – $87,399
  7. Add Contributions received for future years – $17,800
  8. Less expenses for 2020 and 2021 conference venues – ($4,843)
  9. Net Income – $101,808

Dan Whittemore, Finance Committee Chair