BAA Balances Budget Despite Tough Economy

The comparative financial report to the right represents data from the Baylor Alumni Association’s audited financial statements for the last three fiscal years ending May 31. This is not a complete copy of the financial statements, which include a balance sheet and all related footnotes. Those interested in obtaining a copy of the complete audit report(s) should contact Chad Wooten, director of finance and operations for the BAA, at (254) 710-6428.

The BAA budgets an annual endowment earnings withdrawal of 5 percent to fund operations, and the difference between this budgeted amount and actual investment performance is recorded as "Actual Investment Earnings Variance."

The increase in personnel costs is due to the BAA's operation outside of the Baylor personnel system beginning May 1, 2008, along with the addition of development staff, Wooten said.

In keeping with the turbulant stock market of late 2008 and early 2009, the endowment of the BAA declined 17.7 percent for the fiscal year. As of May 31, 2009, the BAA's endowment value was approximately $4.45 million.

Membership dollars increased for the fifth consecutive year, and total membership revenue was at an all-time high.

Jeff Kilgore, BAA executive vice president and CEO, said, "Exceeding membership records again and balancing an operational budget in the toughest economy in recent history is strong testimony to Baylor's great alumni, how much they love their school, and the value they place in their own alumni association. It's clear evidence that the BAA is and will remain strong, valued, relevant, and supported by our members,  just as we have been over the past 150 years."