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2023 APNA Treasurer’s Report

Dear Colleagues,

Kristen Kichefski,  APNA Treasurer

I am pleased to provide the APNA Treasurer’s Report for the most recent fiscal year, 2022. The audited financial statements for the year ending December 31, 2022 can be found in the Appendix. This report shows the complete APNA financial position. All APNA financials are under the stewardship of the APNA Board of Directors. APNA, like most businesses, suffered substantial losses due to the global investment market conditions during the previous fiscal year. These losses amounted to $823,388 of APNA’s total negative change in net assets for the year of $1,217,609. However, the established financial health of the organization has enabled it to withstand the impact caused by recent global investment conditions.

In an effort to oversee the integrity of its financial statements and maintain a system of internal control, APNA established an Audit Committee to review the results of the audited financial statements with an independent auditing firm annually. Last year’s audit resulted in a “clean” opinion with no material misstatements.

In addition to the statements discussed above, we have prepared the following charts reflecting the net results for the previous 5 years. Although APNA experienced negative results in the most recent fiscal year this chart denotes a positive net return of $647,594 over this period. As stated by our auditors APNA’s financial position is still very strong.

The Board of Directors functions as the investment committee for APNA funds. It utilizes the services of an investment manager who invests the funds in accordance with the APNA investment policy. The investment policy calls for a diversification of funds with moneys invested in cash, equities, bonds and real estate. In October 2022, the board made the decision to incorporate a value alignment strategy for a portion of APNA investment funds. This strategy includes negative screens for human trafficking, human rights controversies, and tobacco. The following charts show the results of APNA investments from July 2003 through June 2023. APNA investments have returned a total of $1,769,851 over that period.


It is my honor to serve as APNA Treasurer and I appreciate the support of staff, the Board and the members.


Kristen Kichefski, MSN, MBA, RN-BC

American Psychiatric Nurses Association