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AMA's Financial Trends Continue

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AMA's Financial Trends Continue

Old 09-17-2023, 05:21 AM
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Default AMA's Financial Trends Continue

In reading the minutes from the latest EC meeting (note 1), I found the financial discussions interesting.

Of note, the statement of the ED in section #5, second paragraph, second to last sentence - about finances is AFTER AMA receiving $521,533 in covid loan forgiveness (note 2) - money that will NOT be there this year. Where does AMA think they're going to find half a million in new revenue? They won't. Which means more cuts or selling investments in a struggling market. Since they can't won't cut that money from spending on salaries and executive compensation, the cuts will have to come from things members care about - program expenses. Which are already declining as percent of total spend.

Despite continued declining revenue, the EC continues voting to keep losing more. Examples? Pubs continue to lose money every year, but the head of pubs keeps getting his six figure paycheck, as does the ED, as does the deputy ED (see tax filings, their salaries are public info).

Is the EC rewarding the people who continue to lose money?

Note 1: https://www.modelaircraft.org/execut...923-ec-minutes
Note 2: https://projects.propublica.org/coro...ch?q=47302&v=3

Last edited by franklin_m; 09-17-2023 at 11:40 AM.

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