Financials - 2016 APA Annual Report
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Financial Highlights hero image
Table 1 - APA Revenues & Expenses

OPERATING ACTIVITY

REVENUES 2014 2015 2016
Dues and fees $10,451 $9,962 $9,302
Journal subscriptions 11,633 10,378 9,599
Licensing 64,515 67,584 70,713
Publication sales 13,662 11,726 13,727
Other 12,146 11,646 12,147
TOTAL REVENUE $112,407 $111,296 $115,488
EXPENSES 2014 2015 2016
Salaries and benefits $62,300 $62,875 $62,615
Publication production costs 17,129 17,197 17,218
Space costs 8,254 8,306 8,442
Boards/​committees/​other meetings 4,756 4,369 4,739
Consulting/​contractual/​temporary 10,027 9,245 8,376
Printing/​postage/​office 3,752 3,738 2,245
Equipment/​maintenance/​depreciation 1,931 1,333 2,110
Stipends/​tuition/​grants/​honoraria/​contributions 4,940 5,283 5,083
Other 7,972 8,667 11,059
TOTAL EXPENSES $121,061 $121,013 $121,887
2014 2015 2016
NET LOSS FROM OPERATIONS    $(8,654)    $(9,717)    $(6,399)
Composition of Net From APA Operations: 2014 2015 2016
Gain/​(loss) from undesignated activities $279 $(687) $3,108
Cash flow from buildings used for operations (3,500) (4,100) (5,000)
Cash flow from buildings used for designations (500) (500) (500)
Loss from designated activities (4,933) (4,430) (4,007)
Net Loss From Total APA Operations $(8,654) $(9,717) $(6,399)

NONOPERATING ACTIVITY

LONG-TERM INVESTMENT ACTIVITY 2014 2015 2016
Realized gain/​(loss) on sale of long-term investment $9,594 $(1,344) $2,718
Investment management fees (614) (522) (388)
Unrealized gains/​(losses) (6,665) (6,227) 4,617
NET LONG-TERM INVESTMENT ACTIVITY $2,315 $(8,093) $6,947
REAL ESTATE ACTIVITY 2014 2015 2016
10 G Street operations $3,113 $3,705 $3,357
750 First Street operations 5,597 4,191 2,836
Unrealized gain/​(loss) on interest rate swap (LLC) (1,207) 568 1,270
Unrealized gain/​(loss) on interest rate swap (APA) (802) 254 684
Interest on 750 First Street term loan (BoA) (1,171) (1,136) (1,087)
Deferred rent 458 474 466
NET REAL ESTATE ACTIVITY $5,989 $8,056 $7,526
OTHER NONOPERATING ACTIVITY 2014 2015 2016
Other income $ — $ — $1,300
Loss on disposal of property and equipment (308) (1)
Legal settlement reserve (4,215)
Miscellaneous expense (6,918) (945)
Income tax expense/​provision (909) (919) (800)
NET OTHER NONOPERATING ACTIVITY $(5,432) $(7,838) $(445)
2014 2015 2016
TOTAL NONOPERATING ACTIVITY    $2,872    $(7,875)    $14,028
Note. All figures shown in thousands. BoA = Bank of America.
Table 2 - Balance Sheet (Consolidated)
ASSETS 2014 2015 2016
Cash and short term investments $44,349 a $48,879 a $54,608
Long-term investment portfolio 93,587 a 59,311 a 57,849
Real estate/​equipment 80,862 83,990 81,908
Other 46,113 41,646 40,615
TOTAL ASSETS $264,911 a $233,826 a $234,980
LIABILITIES 2014 2015 2016
Divisions/​other groups $10,312 $10,069 $10,439
Long-term debt/​swap liability 107,099 a 102,583 a 96,873
Accounts payable/​accrued expenses/​other 31,627 22,968 21,947
Deferred revenues 54,369 54,127 53,882
TOTAL LIABILITIES $203,407 a $189,747 a $183,141
2014 2015 2016
NET ASSETS    $61,504    $44,079    $51,839
2014 2015 2016
TOTAL LIABILITIES AND NET ASSETS $264,911 a $233,826 a $234,980
Note. All figures shown in thousands.
a 2014 and 2015 numbers were changed to conform to 2016 financial report presentation.
Table 3 - Net Assets Summary (Consolidated)
2014 2015 2016
NET ASSETS BEGINNING BALANCE (CONSOLIDATED)    $67,219    $61,504    $44,079
ASSETS 2014 2015 2016
APA operations (see also Table 1) $(8,654) $(9,717) $(6,399)
APA nonoperating activity (see also Table 1) 2,872 (7,875) 14,028
Practice Organization operations (45) 174 (20)
Practice Organization nonoperating activity 112 (7) 151
TOTAL CHANGE IN NET ASSETS $(5,715) $(17,425) $7,760
2014 2015 2016
NET ASSETS ENDING BALANCE (CONSOLIDATED)    $61,504    $44,079    $51,839
COMPOSITION OF ENDING UNRESTRICTED NET ASSETS 2014 2015 2016
APA unrestricted/​undesignated net assets $39,244 $22,568 $31,646
Practice Organization net assets 1,823 1,990 2,121
Investment in APA a 5,656 4,062 3,164
The Trust Business Agreement a 6,144 5,899 4,845
Investment in APA 2.0 a 2,400 3,727 5,152
Special Purpose Fund (drawn from long-term portfolio) a 2,002 3,946 4,067
Strategic Plan Initiatives a 1,965
Intern Stimulus Plan a 1,167 602 88
Accreditation a 636 773 756
Convention a 207 350
APA Centralized Application for Grad. Ed. in Psychology a 260 162
GGP Implementation Workgroup a
Web Relaunch a
Publications and Databases R&D a
ENDING UNRESTRICTED NET ASSETS $61,504 $44,079 $51,839
Note. All figures shown in thousands. GGP = Good Governance Project; R&D = research and development.
a APA-designated activity.
2016 LONG-TERM PORTFOLIO COMPOSITION
  • Large Cap Equity – 67.7%

  • Small/Mid Cap Equity – 18.6%

  • Developed Non-US – 13.6%

  • Cash – 0.1%

Table 4 - Performance Returns / Market Value
2016 LONG-TERM INVESTMENT PORTFOLIO Portfolio Type Market Value a 12/31/2016 % of Market Value 2016 YTD Returns (%) b
Southeastern Asset Management Large Cap Equity 11.0 19.7% 19.9%
Vulcan Value Partners Large Cap Equity 10.9 19.5% 12.0%
Schafer Cullen Large Cap Equity 8.0 14.3% 12.6%
Bahl & Gaynor Large Cap Equity 7.9 14.2% 12.9%
Fuller & Thaler Small Cap Equity 3.8 6.8% 21.3%
Russell 2000 Growth ETF Small Cap Equity 3.3 5.9% 0.0%
Russell Mid Cap Growth ETF Mid Cap Equity 3.3 5.9% 0.0%
First Eagle Overseas Developed Non-US 3.8 6.8% 5.9%
Cap Group International Developed Non-US 3.8 6.8% 0.0%
TOTALS $55.8Market Value[a] 12/31/2016: $55.8 99.9%% of Market Value: 99.9% 2016 ANNUAL RETURN: 12.7% RETURN SINCE INCEPTION: 10.2%
2016 ANNUAL RETURN 12.7%
RETURN SINCE INCEPTION 10.2%
Note. a In millions. b Returns are net of fees.
Table 5 - Grant and Contract Activity in 2016
Title Grant or Sponsor Total Award ($)
Cyber Mentors: Minority HIV Researchers National Institute of Mental Health 1,315,610
International Psychology Network for LGBTI Issues Arcus Foundation 300,000
APA Best Practices Dissemination Network Agency for Healthcare Research and Quality 294,900
Capacity Building Assistance to State and Territorial Education Agencies Centers for Disease Control and Prevention 1,200,000
Education Development Center, Inc. – Mental Health Care Provider Education in HIV/AIDS and Mental Health Substance Abuse and Mental Health Services Administration 249,173
Minority Fellowship Program Transition Age Youth Fellowship Substance Abuse and Mental Health Services Administration 2,182,655
Center for Health Professions Leadership on Tobacco Cessation The Regents of the University of California 24,050
Committee on Children, Youth & Families Practitioner Reference Guide William T. Grant Foundation 15,219
Group Travel to 31st ICP Yokohama, Japan 2016 National Science Foundation 45,000
2016 APA Summit on National Assessment of Psychology National Science Foundation 29,100 a
Center for Mathematical Talent NYU (Sloan Foundation) 10,000 a
Transforming Clinical Practice Initiative, Support and Alignment Networks 2.0 Centers for Medicare & Medicaid Services 2,040,161 a
Minority Fellowship Program in Mental Health and Substance Abuse Services Substance Abuse and Mental Health Services Administration 4,906,916
TOTAL $12,612,784
Note. Most grants include multiyear funding. Only active externally funded grants in excess of $1,500 are listed.
a New award for 2016.
The 2016 APA financial data have been certified by Archie L. Turner, Chief Operating Officer and Chief Financial Officer, American Psychological Association.