AAPL Directors Report 3-20

AMERICAN ASSOCIATION OF PROFESSOINAL LANDMEN
QUARTERLY BOARD of DIRECTORS MEETING, Louisville, KY
March 8, 2020

The AAPL Quarterly Board Meeting was held on March 8th, 2020 at the Marriott Louisville Downtown, Louisville, KY. Jay Beavers, AAPL President, called the meeting to Order.  The invocation was given by Mike Curry, followed by the introduction of guests and roll call of the Executive Committee, Directors and Committee Chairs. New Directors/Temporary and Sub-Directors were seated. Upon adoption of the agenda, the minutes from the last board meeting on December 15th, 2019 were adopted by acclamation.  
Treasurer’s Report: Jason Maloy, Treasurer, provided a report on AAPL and its affiliates for the period ending December 31, 2019 as follows: 
• AAPL, Inc.’s total assets are $39,140,968, while total liabilities are $1,795,943.  
• Revenues (exclusive of investment revenue) totaled $1,837,266 as of December 31, 2019.  This is a decrease of 7.9% from December 31, 2018.  The decrease in revenue primarily relates to timing of revenue recognition regarding publications income.    
• Expenses through December 31, 2019 totaled $3,275,929.  This is an increase of 13.7%.  The increase in expenses is mostly comprised of general and administrative expenses (increase of $280,970) and education expenses (increase of $145,066). 
• Investments as of December 31, 2019 are $31,831,731 which is an increase of $6,688,627 or 26.6% as compared to the same period last year.
• As of December 31, 2019, the Education Foundation, Inc.’s balance sheet reflects $4,621,548, which is an increase of $743,512 as compared to the same period last year. The Statement of Investment Accounts reflects $4,380,415 total monies invested which is an increase of $685,440 as compared to the same period last year.
• As of December 31, 2019, the Landman Scholarship Trust’s balance sheet reflects $8,089,585, which is an increase of $1,203,137 as compared to the same period last year. The Statement of Investment Accounts reflects $8,049,382 total monies invested, which is an increase of $1,363,434 as compared to the same period last year. 
AAPL General Report: 
• The 2020-2021 Officer Slate was presented and approved and is as follows: 
o Lester Zitkus (President); 
o Jim Devlin (1st VP)
o Nancy McCaskell (2nd VP)
o Marc Tate (3rd VP) 
o Andrew Cooper (Secretary)
o Kyle Reynolds (Treasurer)
o Jay Beavers (Immediate Past President).
• AAPL Annual dues were set to automatically increase from $125/year to $150/year following the June 2020 Annual Meeting.  However, the board of directors voted to suspend the automatic increase, so the dues will remain at $125/year 
• The 2020-2021 Proposed Budget was approved.  Due to the state of the industry, the budget was created to reflect little to no growth in most areas of the organization, while decreasing revenue in others.  Therefore, the budget for 2020-2021 is at a negative of $1,478,958, exclusive of investment income.  Some highlights:
o Membership - membership is budgeted to reach 15,000 members, which is a decrease of 1,250 members from the 2019-2020 budget
o Education – Education income is budgeted as a slight increase from prior year du to an anticipated increase in contributions from the Educational Foundation.  Registrations are flat.  
o NAPE Income – Reflects a decline from 2019-2020 to 2020-2021 of 8%
o Expenses – are budgeted at 5% higher ($8,784,282) than the 2019-2020 budget ($8,392,778).  

NAPE Summit
• NAPE Season Pass - a new season pass is available, which includes admittance to both NAPE summit and Summer NAPE and guarantees you pay the early bird price no matter when you register.  
• NAPE Charities Luncheon will feature Nikki Haley – former governor of South Carolina and US ambassador to the United Nations.  
• A job fair will be held for all NAPE attendees.  
• NAPE Magazine – debuts with the October issue; all NAPE attendees receive a free annual subscription.  
• New this year, NAPE is partnering with TCU to host the first Energy Innovation Case Competition.   The AAPL education foundation is the title sponsor and $40,000 in cash will be awarded to the students of the winning teams.  
• 2020 NAPE Summit will once again feature a women’s event entitled Connections & Conversations:  Women in Energy with a moderated panel featuring Ali Pruner, Sarah Sandberg, and Jacki Deason.

Summer NAPE   
• NAPE Season Pass - a new season pass is available, which includes admittance to both NAPE summit and Summer NAPE and guarantees you pay the early bird price no matter when you register.  
Annual Meeting
• The current plan is for the AAPL Annual Meeting to take place.  The AAPL staff will continue to monitor COVID-19 and keep the AAPL membership updated.  
• The early bird registration fee has been extended until May 1st and the cancellation fee has been waived
• Don’t forget about the professional development program that reduces the registration fee by $300 for active members of AAPL.  
• The 2020 Annual Meeting will be held June 17-20, at the Hyatt Regency Hotel in Huntington Beach, California.  
• Special events this year:  THUMS Island tours, workouts on the beach, Landman Bash on the beach, AAPL Champion Golf Tournament at Pelican Hill.  
• Registration is now open.  

Other Noteworthy News/Reports: 
• Professional Development Assistance Program – as mentioned earlier in this report, this program reduces the registration fee up to $300 for AAPL operated events including the Annual Meeting, the NAPE Business Conference, and educational workshops and seminars.  For more information about this program go to:  https://www.landman.org/professional-development/professional-developmen...
• 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.  More information is available on the AAPL website
• The next Board of Director’s meeting will be at The Hyatt Regency Hotel in Huntington Beach, California, June 16th, 2020.
  
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 to reach out.    
Respectfully submitted,
Robert Rice
AAPL Director