AAPL Directors Report 12-18

AMERICAN ASSOCIATION OF PROFESSOINAL LANDMEN
QUARTERLY BOARD of DIRECTORS MEETING, Lost Pines, TX
December 9, 2018

The AAPL Quarterly Board Meeting was held on December 9, 2018 at the Hyatt Regency Resort & Spa, Lost Pines, Texas.
Mike Curry, AAPL President, called the meeting to Order. The Invocation was given by David Miller, followed by the
introduction of guests and roll call of the Executive Committee, Directors and Committee Chairs. Upon adoption of the
Agenda, the minutes from the last board meeting on September 16, 2018 were adopted by acclamation.
Treasurer’s Report: Michael Pisciotte, Treasurer, provided a report on AAPL and its affiliates for the period ending
September 30, 2018 as follows:
AAPL, Inc.’s total assets are $37,196,287, while total liabilities are $2,061,688.
Revenues (exclusive of investment revenue) totaled $744,887 as of September 30, 2018. This consists of
$430,992 from membership dues, $163,518 from educational seminar fees and $65,738 from publication income.
Expenses through September 2018 totaled $1,287,601. Expenses include general and administrative ($811,531),
educational program ($138,697), financial expenses ($88,364), board of director meeting expenses ($87,364) and
IT/software expenses ($78,124).
Investments as of September 30, 2018 are $28,670,364, which is an increase of $3,649,941 or 14.59%
compared to the same period last year. The increase is primarily due to a decrease in withdrawals for
disaster relief.
As of September 30, 2018, the Education Foundation, Inc.’s balance sheet reflects $4,426,308, which is a
decrease of $23,292 or .53% as compared to the same period last year. The Statement of Investment Accounts
reflects $4,233,851 total monies invested which is an increase of $359,575 or 8.49% as compared to the same
period last year.
As of September 30, 2018, the Landman Scholarship Trust’s balance sheet reflects $7,851,903, which is an
increase of $761,431 or 9.7% as compared to the same period last year. The Statement of Investment Accounts
reflects $7,605,765 total monies invested, which is an increase of $686,967 or 9.03% as compared to the same
period last year.
AAPL General Report:
Amendments to the budget were passed except an item regarding an additional $180,000 for updating/creating
sixteen ethics videos for certification credits. More information was requested and that decision was deferred to
the March meeting.
Amendments were approved to broaden the definition of Landwork as it pertains to CPL and RPL certification.
Updates to the continuous employment requirement were also approved to better accommodate parties who are
actively seeking employment during a downturn. Both measures aim to encourage and increase certification.
The 2018 Compensation Survey results were published in the November/December issue of Landman and on the
AAPL website.
AAPL currently has twenty-two employees and will add an Assistant Controller role, while NAPE has seven fulltime
employees, with one open BD role.
The audit of all AAPL entities, NAPE and Nape Charities for the fiscal 2017-2018 year resulted in the issuance of
an auditor’s unqualified opinion, meaning there were no material errors or omissions in AAPL’s financials.
The 2018 Certification Survey was presented and discussed, with a spirited discussion on the requirement of a
college degree for CPL certification.
The Education Committee formed a task force to review course material and exams to ensure its relevance in
today’s industry.
Nape and Annual Meeting:
Nape Summit 2019 will include George and Laura Bush as speakers at the NAPE Charity Luncheon.
Sponsorships already exceed last year’s final numbers. Booth exhibitors are expected to exceed 750. I will have
updates and final numbers after the next meeting.
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The AAPL Annual Meeting will be held at the Wyndham Grand Pittsburgh in Pittsburgh, PA on June 19-
22. Register now as prices for registration will increase after April 12. Hotel reservation cut-off is May 27
and will fill up fast. You must be registered for the Annual Meeting to get the AAPL hotel rate. Up to
twenty-four credits will be available!
Other Noteworthy News/Reports:
If you are interested in networking and mentoring, I encourage you to look into the Landman Advisory Connection
Program. The program provides a platform for experienced land professionals to mentor new members of our
profession or those who may desire to enhance their skills in a certain area of focus. As of the meeting, nineteen
advisors were matched with nineteen participants.
If you are in need of credits, please check the AAPL website as previously recorded seminars are available for as
low as $10/credit.
The next Board of Director’s meeting will be at the Encore Resort at Wynn in Las Vegas, Nevada in March.
If you are interested in serving on an AAPL or OCAPL committee or otherwise becoming more involved, please feel free to
contact me. Additionally, if you have any questions, comments, concerns, or ideas regarding the AAPL and/or its services,
please do not hesitate reach out.
Respectfully submitted,
Nick Watkins
AAPL Director