Dear AACT Colleagues,
I hope this note finds you all well. I am writing to explain a significant change in our dues process starting in 2020. Typically, you would all be receiving your notifications to pay your dues for 2020 about now. After discussions with our board at our last meeting in Nashville, we will be instituting a change in our dues schedule. This is part of our overall strategy to improve service to our members and increase membership numbers.
Effective immediately, the dues cycle for AACT (and for ABAT as well) will change from the calendar year to the academic year. As such, your dues will not be asked to be paid until 01 July 2020. Our hope is that this will better align with the CE allowances afforded many of our members from their home institutions. Also, it will allow for folks to sign up for NACCT and AACT at the same time and will help us remind newly graduating fellows that their formerly free training membership is now converted to a full membership immediately upon graduating.
While in the long term, this is the right thing to do for the Academy. In the short term, though, it will be quite expensive and will necessitate us having to draw funds from our savings (potentially $150,000 -$200,000) to bridge the gap for the first half of 2020. The Academy’s financial position, however, is very strong and we have the funds at the ready.
While all members will essentially be receiving 6 months of free membership, there is a catch. Starting in July of 2020, all members will incur a $50 increase in their dues. This is our first significant increase in dues since I can remember, and our dues are still far below what most of us pay for other organizations. It is my hope that you will continue to find membership in the Academy easily worth the yearly dues, even with this increase.
With the dues increase, if our membership numbers stay steady, it will take about 5-7 years to pay for this change in cycle. It is the feeling of the board that this is worth it, and we hope you feel the same way.
Our focus as a board continues to be on providing great service to our members while securing the long-term integrity and financial stability of the Academy. I would be happy to field any concerns you may have.
Of course, if you would like to make a year-end contribution to “Friends of the Academy”, that can still be done at any time through our website. Anyone who wishes to pay their dues now for 2020 can feel free to do so as well. They will then not be asked to pay again until July of 2021.
Thank you all for your membership in the Academy. I hope you have a wonderful and meaningful holiday season.
Warm regards,
Mark Kostic, MD, FAACT
President