2016 annual report · 2020-03-25 · as apa’s new ceo, i am pleased to announce the availability...
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1
2016 ANNUAL REPORT
EXECUTIVE SUMMARY
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© 2017 by the American Psychological Association
ON THE COVERTop row (from left)
APA hosted IamPsyched! Museum Day Live 2016, an interactive pop-up exhibit that empowered girls of color to explore careers
in the social and behavioral sciences. During a discussion and Q&A with eminent women of color psychologists, Ramani Durvasula,
PhD, one of the moderators, responds to a question from a local Girl Scout. (Photo: Nick Crettier)
APA and the APA Practice Organization put forth a unified effort the last week in August to mobilize grassroots advocacy networks
to send thousands of action alerts and messages to Congress in support of the Mental Health Reform Act of 2016. Using social media
messages such as the #MentalHealthReform image shown here, email, and video, the activation reached a potential audience of over
600,000 individuals and raised timely awareness of this important legislation.
Bottom row (from left)
Panelists at the 2016 State Leadership Conference field audience questions on how they and their patients can thrive in the chang-
ing health care marketplace. From left: Nancy Breen Ruddy, PhD, McCann Health; Shirley Ann Higuchi, JD, APA and APA Practice
Organization; Arthur C. Evans, PhD, commissioner of Philadelphia’s Department of Behavioral Health and Intellectual disAbility
Services [now APA’s CEO]; and Geoffrey Kanter, PhD, ABN, ABPdN, Comprehensive MedPsych Systems, Inc.
Psychologist David Strayer, PhD (left), is a cognitive neuroscientist who studies how attention functions within multiple research do-
mains. He is shown here with James Coleman, Emily Ortiz and a research participant in his lab at the University of Utah. Dr. Strayer
is one of the psychologists highlighted in “Psychology: Science in Action,” part of APA’s public education campaign to demonstrate
psychology’s contributions to society and its grounding in science. (Photo: Amanda Kowalski)
1
Welcome ..............................................................................................................................................2
2016 Board of Directors .................................................................................................................3
Year in Review ....................................................................................................................................4
Program Highlights ...........................................................................................................................6
Treasurer’s Report ............................................................................................................................7
CONTENTS
2
Arthur C. Evans, Jr.,
PhD Chief Executive Officer
Welcome to the 2016 APA Annual Report
As a psychologist and valued member of APA, your success depends on factors
that go beyond your own hard work and expertise. You need access to tools
and resources that help you keep pace with the developments in the field.
You also need representation on the critical issues facing all of psychology in this
time of uncertainty and change.
With new leadership and a renewed focus on making your membership more rel-
evant, APA offers what you need and is meeting the promise of our mission—to
advance the creation, communication and application of psychological knowledge to
benefit society and improve people’s lives.
As APA’s new CEO, I am pleased to announce the availability of the 2016 APA Annual
Report in a new digital format, which is conveniently accessible anytime
and anywhere, with interactive features and videos. The shorter executive
summary contains highlights of the digital report, including:
• The year in review, focusing on the many ways APA supported its mission by
educating the public about mental health and psychology’s scientific basis, and
advocating for key federal policies and legislation.
• Links to the top initiatives APA delivered for psychology and psychologists
in science, practice, public interest and education through its publications and
databases, value-added products, and national and international programs.
• The APA treasurer’s report and financial statements.
I hope you’ll delve into the details of the digital Annual Report to learn how APA
made an impact in 2016 in ways that support your career, advance psychology and
improve people’s lives.
Arthur C. Evans, Jr., PhD
Chief Executive Officer
American Psychological Association
WELCOME
3
2016 BOARD OF DIRECTORS
OFFICERS
President
Susan H. McDaniel, PhD, ABPP
University of Rochester Medical Center
President-Elect
Antonio E. Puente, PhD
University of North Carolina–Wilmington
Past President
Barry S. Anton, PhD, ABPP
Rainier Behavioral Health, Takoma, WA
Recording Secretary
Jennifer F. Kelly, PhD, ABPP
Independent practice, Atlanta, GA
Treasurer
Bonnie Markham, PhD, PsyD
Independent practice, Metuchen, NJ
INTERIM CEO AND INTERIM
EXECUTIVE VICE PRESIDENT
Cynthia D. Belar, PhD, ABPP
American Psychological Association
MEMBERS-AT-LARGE
Linda F. Campbell, PhD
University of Georgia
Helen L. Coons, PhD, ABPP
Women’s Mental Health Associates, Denver, CO
Richard M. McGraw, PhD
Independent group practice, San Angelo, TX
Diana L. Prescott, PhD
Hampden Psychological Consultation, PLLC, Hampden, ME
Sandra L. Shullman, PhD
Executive Development Group, Columbus, OH
Frank C. Worrell, PhD
University of California–Berkeley
APAGS
Christine M. Jehu, PhD
East Carolina University
Front row, from left: Antonio E. Puente, PhD; Susan H. McDaniel, PhD, ABPP; and Barry S. Anton, PhD, ABPP
Back row, from left: Diana L. Prescott, PhD; Richard M. McGraw, PhD; Christine M. Jehu, PhD; Sandra L. Shullman, PhD;
Linda F. Campbell, PhD; Frank Worrell, PhD; Cynthia D. Belar, PhD, ABPP; Helen L. Coons, PhD, ABPP; Bonnie Markham, PhD, PsyD;
and Jennifer F. Kelly, PhD, ABPP
4
It was an honor and a privilege to serve APA and its mission over the past year,
during which I continued to learn and to grow. My passion for APA’s work and
mission has not diminished.
This annual report will describe many achievements. I will not list them here, but
across the organization, we still have work to do to become a true 21st-century orga-
nization. The opportunity is ripe with the incoming CEO, Arthur C. Evans, Jr.
Budget
One of the biggest challenges in 2016 was our move to a new integrated budgeting
model that incorporates the broadest possible view of our operating and special
projects commitments and clearly identifies the point at which we may be exceeding
our resources. Using this methodology, we ended 2016 with a modest surplus be-
cause we controlled expenditures, and we were fortunate to have some unexpected
income from fourth-quarter sales of one of our flagship publications. After making
many difficult spending adjustments, we have budgeted a $4 million deficit for 2017.
We have sustained and recovered from similar situations in the past, and I have con-
fidence in our resilience and our ability to innovate, and I am therefore also confident
about the long-term financial stability of the organization. APA Style CENTRAL®,
released in summer 2016, was the 2017 PROSE award recipient for EProduct/Best
in Social Sciences for 2016 by the Association of American Publishers. We have a
number of new products on the horizon that hold promise.
However, both APA and the Practice Organization must learn to live within their
means. We must develop better methods and skills in priority setting. It is also
important that the setting of those priorities be based on an overall understanding
of where we want to go, and what kind of organization we want to be. Our mission is
very broad and we have voracious appetites for very worthy projects. We also have
the tectonic plates of science, education, professional practice, human rights, and
social justice competing for attention and resources.
YEAR IN REVIEW
Cynthia D. Belar,
PhD, ABPPInterim Chief Executive Officer
5
Independent Review
Another major emphasis during 2016 was the follow-up to
the 2015 Independent Review. We have made significant
progress on a number of fronts, but the work is not com-
plete. The findings of the Ethics Commission are pending,
and the Task Force on Human Rights will release a report
in 2017.
We have also made significant progress in examining
conflict-of-interest policies. Changes have already been
made for staff, and new policies for members of gover-
nance are forthcoming. However, I remain concerned
about continued misinterpretations of the findings of the
Independent Review. I continue to implore us to practice
what we preach — to engage in critical thinking, to read
primary sources, to distinguish fact from opinion, and to
respect that opinions may differ given the same facts.
Mission
Another issue brought to our attention by the Indepen-
dent Review was the perception of our mission. I know
that confusion still exists; I still hear the words “trade
association” or “guild” in describing APA — or the per-
spective from members that our primary goal should be
the self-interest of psychologists. I hope that I have made
some progress with respect to reaffirming APA’s core
mission.
APA is a charitable scientific and educational organization.
Our mission is to advance the creation, communication
and application of psychological knowledge to benefit
society and improve people’s lives. We focus on
psychology and the public welfare, not psychologists —
although it is absolutely true that individual psychologists
do often benefit from APA’s public welfare focus.
To protect the interests of practicing psychologists, we
have a companion organization, the Practice Organiza-
tion, whose mission is to address pocketbook issues and
enhance our business interests.
However, I firmly believe ALL psychologists need a strong
guild, not just practitioners. Psychologists in all career
paths have individual interests that require attention
and support. We need to develop these member-centric
programs in an integrated, coordinated fashion in close
collaboration with the content expertise found in our four
directorates of Science, Practice, Education and Public
Interest. I trust that we will make progress in examining
new models for a companion organization that can meet
the needs of all our members.
Whatever the priorities become for APA, it is my great-
est hope that the Council of Representatives and Board
of Directors will demonstrate the leadership required to
stay the course of the APA mission while respecting and
appreciating the needs of our members for participation
in groups with different missions and cultures.
In Closing
APA needs to move ahead as a learning organization. We
will make mistakes and then learn from those mistakes.
But psychology will not be held back. We are going to go
to the next level, and I feel privileged to have been a small
part of that progress.
Dr. Belar and attendees of the 2016 State Leadership Conference
For full details on APA’s accomplishments in 2016, please review the
new digital annual report. Here are some links to highlights:
• What were seven of APA’s high-impact achievements in
2016?
• What were five of APA’s top initiatives?
• How did President Susan H. McDaniel, PhD, represent APA
on the national and international stage?
• How did APA’s publications and databases and core programs
in Ed ucation, Science, Practice, and Public Interest move the
discipline forward? See each program’s “Top 10” list of
achievements.
• Which are the key offices that help run APA — from manag-
ing day-to-day functions to serving members and providing the
communications and business services that further the mission
of APA?
PROGRAM HIGHLIGHTS
6
7
In 2016, APA implemented the integrated budget model, a vastly revised approach
developed in 2015 to more clearly define APA’s sources of income and expense.
The new model revealed that if APA continued to do business as usual, there
would be increasing and eventually devastating deficits. Acting CEO Cynthia Belar,
PhD, and the Board of Directors, in partnership with the Finance Committee, de-
veloped and approved an austere budget with cost savings in both governance and
programs. APA’s largest expense is personnel. Staffing reorganizations and, in some
cases, staffing reductions, were necessary to increase efficiency.
APA’s significant publishing business, two buildings and valuable long-term invest-
ment portfolio continue to provide the resources needed for operations and are
being managed creatively to assure the revenue growth needed for APA’s success.
Attention to membership declines and decreases in print journal sales as well as
careful review of both new and ongoing programs will strengthen annual operating
revenues and expenses and maintain stability of the balance sheet and public credit
rating.
Integrated Budget
Total revenues remained strong, with growth of 3.8 percent in 2016. The two larg-
est contributors to this growth were electronic licensing revenues, increasing 4.6
percent from 2015, and publication sales, increasing by 17.1 percent from 2015. This
growth in publication sales was related to a rebound in sales of the APA Publication
Manual. Member dues and print journal subscription revenues continued to experi-
ence declines: 7 percent and 4 percent, respectively.
Expenses in 2016 were relatively comparable to those of 2015, with a very small
increase of 0.7 percent and no significant changes in any specific expense category.
The majority of those savings were reflected in consulting (10.3 percent decline) and
office expenses (16.5 percent decline), where staff were able to make reductions.
Nonoperating Activity
These activities, which include the long-term investment portfolio, real estate,
income tax expense, and other nonoperating revenue and expenses, had a net gain
of $14 million in 2016 (see Table 1). Investment gains, less investment management
TREASURER’S REPORT & FINANCIAL HIGHLIGHTS
Bonnie Markham,
PhD, PsyDTreasurer
8
fees, were $6.9 million; gains from real estate activities
were $7.5 million; and income tax expense was $0.8 mil-
lion. Other miscellaneous revenue and expenses netted
$0.4 million.
Balance Sheet
During 2016, APA’s net assets increased $7.8 million (see
Tables 2 and 3). Net assets are crucial for meeting debt
covenants, supporting overall financial health, establish-
ing credit agency ratings and maintaining flexibility in
addressing our mission. This net asset increase was the
result of $14 million in gains from nonoperating activity, a
$6.4 million loss from APA operations, and a $0.13 mil-
lion gain from the Practice Organization. The gains from
nonoperating activity were the result of gains from APA’s
long-term investment portfolio and interest rate swaps
associated with the building loans (an interest rate swap
agreement is designed to exchange a variable interest rate
for a fixed rate for a term loan) and gains from real estate
activity. The value of the long-term investment portfolio
decreased 2 percent, to end the year with a market value
of $55.8 million (see Table 4).
APA’s Public Credit Rating
In August 2016, Standard and Poor’s (S&P) affirmed APA’s
BBB+ rating but revised the outlook from stable to neg-
ative. In their view, our operations have been weakened
by increases in strategic spending, operating deficits and
nonoperating legal costs. Other factors include declines in
membership dues, decreasing demand for print products,
a decrease in financial resources combined with a high
long-term debt load, and significant turnover in senior
management. S&P believes there is a one-in-three chance
that sustained pressures could result in a downgrade of
APA’s BBB+ rating.
Buildings
APA owns two buildings near Capitol Hill in Washington,
D.C. The 750 First Street building has 351,000 square feet
of leasable space, approximately 55 percent of which APA
occupies and 10 percent of which the National Associa-
tion of Social Workers occupies. The 10 G Street building
has 254,000 square feet of leasable space; over two thirds
of that space is occupied by Amtrak and the World Re-
sources Institute. Our property management team suc-
cessfully renegotiated several leases with smaller tenants
in both buildings in 2016 (and early 2017), resulting in the
maintenance of an occupancy rate in excess of 90 percent.
These properties generated a combined total of $7.4
million of net income after distributing $5.5 million to APA
in 2016.
The 750 First Street and the 10 G Street buildings have
been certified as LEED Gold and LEED Platinum, respec-
tively, by the U.S. Green Building Council, reflecting many
years of APA’s continuing commitment as an environmen-
tally responsible owner.
9
Acknowledgments
I would like to acknowledge the extraordinary commit-
ment made by the members of the Finance Committee.
Implementing the integrated budget took many hours of
analysis, assessment and thorough review of proposed
budgets and solutions to projected deficits. The role of
the Finance Committee as an oversight group was vastly
expanded in 2016 to assure that its primary mission of
providing checks and balances was fulfilled. This involved
ongoing collaboration with the Interim CEO, APA manage-
ment, Finance staff and governance members. Decisions
crucial to APA’s effective financial management were
made in 2016 concerning the budget and the delegation of
certain financial duties to the Board of Directors.
The Finance Committee carefully analyzed the informa-
tion needed and provided several webinars to the Council
of Representatives to support their work. The committee,
with the active participation of its outside expert advisors
in the investment and audit areas and with the increased
involvement of liaisons from a number of governance
groups, assured transparency in the process and offered
opportunities for discussion and debate.
The members of the 2016 Finance Committee, the Audit
Committee and the Investment Committee are listed
here. We are especially grateful to Robert McGrath, PhD,
and Jean Carter, PhD, who ably led most of the webinars
offered to council, Additionally, Jean Carter’s contribu-
tions as vice chair of the Finance Committee have been
substantial.
2016 Finance Committee
MEMBERS
Bonnie Markham, PhD,
PsyD (Chair)
Jean A. Carter, PhD
(Vice Chair)
Rosie Philips Bingham, PhD
Y. Barry Chung, PhD
Lisa R. Grossman, JD, PhD
Robert E. McGrath, PhD
Beth N. Rom-Rymer, PhD
INVESTMENT
SUBCOMMITTEE
Stephen C. Howell
John J. McCormack Jr.
Peter M. Ramsey
Sheila T. Roberts
AUDIT SUBCOMMITTEE
Stephen C. Howell
Gregory L. Mitchell
Steven F. Stanton
The 2016 APA financial data have been certified by Archie L. Turner, Chief Operating
Officer and Chief Financial Officer, American Psychological Association.*
10
OPERATING ACTIVITY 2014 2015 2016
REVENUE
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
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
NET LOSS FROM OPERATIONS $(8,654) $(9,717) $(6,399)
COMPOSITION OF NET FROM APA OPERATIONS:
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 2014 2015 2016
LONG-TERM INVESTMENT ACTIVITY
Realized Gain/(Loss) On Sale Of Long-Term Investments $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
Ten 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 (Bank Of America) (1,171) (1,136) (1,087)
Deferred Rent 458 474 466
NET REAL ESTATE ACTIVITY $5,989 $8,056 $7,526
OTHER NONOPERATING ACTIVITY
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)
TOTAL NONOPERATING ACTIVITY $2,872 $(7,875) $14,028
Table 1 APA Revenue and Expenses
Note. All figures shown in thousands.
11
2014 2015 2016
ASSETS
Cash and short-term Investments $44,349a $48,879 a $54,608
Long-term investment portfolio 93,587a 59,311a 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
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 $203,407a $189,747 a $183,141
Net Assets 61,504 44,079 51,839
Total Liabilities and Net Assets $264,911a $233,826a $234,980
Table 2 Balance Sheet (Consolidated)
Note. All figures shown in thousands.
a 2014 and 2015 numbers were changed to conform to 2016 financial report presentation.
2014 2015 2016
NET ASSETS BEGINNING BALANCE (CONSOLIDATED) $67,219 $61,504 $44,079
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
Net Assets Ending Balance (Consolidated) $61,504 $44,079 $51,839
COMPOSITION OF ENDING UNRESTRICTED NET ASSETS
APA unrestricted/undesignated net assets $39,244 $22,568 $31,646
Practice Organization net assets 1,823 1,990 2,121
APA designated activities
Investment in APA 5,656 4,062 3,164
The Trust business agreement 6,144 5,899 4,845
Investment in APA 2.0 2,400 3,727 5,152
Special Purpose Fund (drawn from long-term portfolio) 2,002 3,946 4,067
Strategic Plan Initiatives 1,965 - -
Internship Stimulus Plan 1,167 602 88
Accreditation 636 773 756
Convention 207 350 -
APA Centralized Application Service for Grad. Ed. in Psychology 260 162 -
GGP Implementation Workgroup - - -
Web Relaunch - - -
Publications and Databases R&D - - -
Ending Unrestricted Net Assets $61,504 $44,079 $51,839
Table 3 Net Assets Summary (Consolidated)
Note. All figures shown in thousands. GGP = Good Governance Project; R&D = research and development.
12Table 5 Grant and Contract Activity in 2016
Note. Most grants include multiyear funding. Only active externally funded grants in excess of $1,500 are listed.
a New award for 2016.
Title Grant or sponsor Total award ($)
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 Foundationa 29,100
Center for Mathematical Talent NYU (Sloan Foundation)a 10,000
Transforming Clinical Practice Initiative, Support and Alignment Networks 2.0 Centers for Medicare & Medicaid Servicesa 2,040,161
Minority Fellowship Program in Mental Health and Substance Abuse Services Substance Abuse and Mental Health Services Administration
4,906,916
Total $12,612,784
Table 4 Performance Returns/Market Value
a In millions. b Returns are net of fees.
2016 Long-Term Investment Portfolio Market Valuea % of 2016 YTD
12/31/2016 Market Value 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%
$55.8 99.9%
2016 Annual Return 12.7%
Return Since Inception 10.2%
Large Cap Equity 67.7%
Small/Mid Cap Equity 18.6%
Developed Non-US 13.6%
Cash 0.1%
Total 100.0%
2016 LONG-TERM PORTFOLIO COMPOSITION
13
APA ON THE WEB
2016 Annual Report http://ar2016.apa.org
Home Page www.apa.org
Member Login Page https://my.apa.org
Journals www.apa.org/pubs/journals
Careers www.psyccareers.com
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