Yesterday at the Annual Business Meeting, Chairperson of the Board David A. Mandina provided an update on the State of the Society. In his address, he highlighted some of ASNT’s accomplishments in the past year, including the hiring of a new executive director, Neal J. Couture, CAE; the successful first international conference hosted by ASNT, the Nondestructive Characterization of Materials in Slovenia; the launch of the Industry Sector Qualification—Oil and Gas; continued outreach programs funded by the National Science Foundation grant the Society received last year; and the installation of the Tree of Knowledge memorial at the International Service Center in Columbus, Ohio. A nearly full-size rendering of the Tree is available on display in the Pavilion, across from Registration.
ASNT also hit another milestone this year: “For the first time in our history, we now have more than $30 million in net assets,” said Mandina. “Our conservative investments continue to fuel this growth, providing the funds necessary for the Society to build new programs and services for our members.”
Secretary/Treasurer Michael V. McGloin presented ASNT’s financial report for the fiscal year. McGloin reported that total assets of $30.2 million exceeded total liabilities of $4.1 million and provided reserves of $26.1 million. Total assets increased $583 000 from prior year, while total liabilities decreased by $248 000 from prior year. Overall net assets increased by $830 000 in fiscal year 2019.
In review of the Statement of Activities, ASNT had revenues from operations of $8.7 million. That is $446 000 higher than the prior year, or a 5% increase. The growth in revenue is attributed to increases in certification and conference activity. This was offset by lower revenue in Membership, Books Sales, and Advertising. A continuation of the favorable market conditions allowed the ASNT investment portfolio to produce over $1.5 million in income.
The members of the Board of Directors elected in August 2019 were announced. In addition to Scott Cargill, who will serve as the new Chairperson of the Board, and McGloin, who is the incoming President, John Iman was elected as Vice President and Danny Keck as Secretary/Treasurer. The newly elected Directors at Large include Marwan Basrawi, Tsuchin (Philip) Chu, and James (Gerry) Churchwell. Council Directors elected are Lawrence Gill, Sr., Ahmed Arabi Hassen, and Anish Poudel.
Cargill came to the podium to recognize ASNT’s current Regional Directors and Board of Directors. Outgoing members of the Board, including Greg Garcia, Danny Keck, Mohsen Hassanein, Marybeth Miceli, Yi-Cheng (Peter) Pan, and Past President David Bajula, received a framed recognition in appreciation of their years of dedication. Council Chairs were acknowledged including John Kinsey of the Certification Management Council, Roger Engelbart and Peter Pan of the Research Council, Brenda Collins of the Section Operations Council, and Mark Pompe of the Technical and Education Council (not in attendance).
Richard H. Bossi, Ph.D., the outgoing chair of the Handbook Development Committee and the outgoing Technical Editor of Materials Evaluation, was recognized for his many years of service to ASNT. (Please visit the ASNT Daily at asntevents.org for more in-depth coverage of Bossi’s recognition.)
In the Town Hall meeting that immediately followed, Michael Sens of Chevron presented on the new Industry Sector Qualification for the oil and gas industry. The new program, which has been in development for two years, is meant to replace numerous inconsistent programs currently utilized in the industry. For more information on this topic, please see the exclusive article in the digital edition of ASNT Daily at asntevents.org.