Fall Board of Directors Meeting
October 23-27, 2017 Antwerp, Belgium
111 K Street NE, 9th Floor p. (202) 842-1645 abainfo@buses.org Washington, D.C. 20002 f. (202) 842-0850 www.buses.org TABLE OF CONTENTS
MEETING AGENDA & RELATED MATERIALS
BOARD MEETING SCHEDULE OF EVENTS 1 BOARD MEETING AGENDA 3 2017 ABA SPRING BOARD MEETING MINUTES 5
PRESIDENT’S REPORT ABA ORGANIZATIONAL CHART 19 PRESIDENT’S 2017 GOALS 20 2018-2020 ABA STRATEGIC PLAN DRAFT 30 EXECUTIVE SUMMARIES 67 GOVERNMENT AFFAIRS & POLICY REPORT 74 NOMINATIONS LIST 90 CTP’S TAX REFORM STATUS 92
COMMITTEE REPORTS
FINANCE & BUDGET STAFF REPORT 95 ABA RESERVE FUND ASSET ALLOCATION 99 2018 DRAFT BUDGET WITH AUGUST 2017 ACTUAL 100 ABA RESERVE IM REVIEW 129
GOVERNANCE 2017-2019 BOARD ROTATION SCHEDULE 144 PROPOSED EXECUTIVE COMMITTEE ROTATION SCHEDULE 146 ALL COMMITTEE ASSIGNMENTS 147 TIME & PLACE REPORT 148
ADDITIONAL STAFF & COUNCIL REPORTS
COMMUNICATIONS STAFF REPORT 150 2017-2018 ABA COMMUNICATIONS STRATEGY 157 MEETINGS, EDUCATION & MEMBER SERVICES STAFF REPORT 161 EXECUTIVE COMMITTEE MEETING AGENDA 168
ABA FOUNDATION DOCUMENTS
ABA FOUNDATION ASSET ALLOCATION 169 ABA FOUNDATION UNAUDITED FINANCIAL STATEMENTS 170 ABA FOUNDATION IM REVIEW 174 2017 FALL BOARD OF DIRECTORS MEETING SCHEDULE RADISSON BLU ASTRID HOTEL ANTWERP, BELGIUM
MONDAY, OCTOBER 23, 2017
Breakfast on Your Own
8 a.m. – 4:30 p.m. Board of Directors Meeting Scala 3 Meeting Room
6:30 p.m. Meet in Lobby for Board Dinner Transportation
7 – 9:30 p.m. Board of Directors Dinner Sir Anthony Van Dyke Restaurant Sponsored by ABC Companies/Van Hool
TUESDAY, OCTOBER 24, 2017
Breakfast on Your Own
8:30 a.m. Meet in Lobby for Transportation to BusWorld
9:30 a.m. – 5 p.m. BusWorld Kortrijk Transportation provided by ABC Companies/Van Hool
Afternoon Board Reception (2 - 4 p.m.) Sponsored by Temsa & CH Bus Sales
Dinner on Your Own
WEDNESDAY, OCTOBER 25, 2017
Breakfast on Your Own
8:30 a.m. Meet in Lobby for Transportation to Brugge Meet in Lobby for Transportation to BusWorld Transportation provided by ABC Companies/Van Hool
1 9:30 a.m. – 5 p.m. BusWorld Kortrijk
10 a.m. – 4 p.m. Day in Brugge 11am Boat tour Shopping and Dining on your own
6:15 p.m. Meet in Lobby for Board Dinner Transportation
6:30 – 9 p.m. Board of Directors Dinner Sponsored by Motor Coach Industries
THURSDAY, OCTOBER 26, 2017
Breakfast on Your Own
8:30 a.m. Meet in Lobby for Transportation to Van Hool Plant
9 a.m. – 4 p.m. Van Hool Plant Tour (Operator and travel industry members only) Transportation provided by ABC Companies/Van Hool
Dinner on Your Own
FRIDAY, OCTOBER 27, 2017
DEPARTURES
2 2017 ABA FALL BOARD MEETING AGENDA RADISSON BLU ASTRID HOTEL SCALA 3 MEETING ROOM ANTWERP, BELGIUM
MONDAY, OCTOBER 23, 2017, 8:00 A.M. – 4:30 P.M.
Opening Remarks J. Meier
Guest Recognition & Introduction J. Meier
Approval of the Previous Meeting Minutes J. Meier
President’s Report P. Pantuso ABA Operations and Highlights since May 2017 Trends Strategic Planning
Counsel’s Report R. Schweitzer
Government Affairs Capitol Hill Meetings J. Jalbert, S. Te Beau Rohde
Committee Reports Audit J. Meier BusMARC J. Miller Finance & Budget G. Berardi Governance T. JeBran Strategic Safety P. Pantuso Time-Place G. Berardi Technology A. Berardi, P. Raygorodskaya
Strategic Plan D. DeVivo, P. Pantuso
2018 Marketplace Update T. Fischer
ABA Foundation Report & Foundation Research Initiatives D. Anderson Fundraising Activities Research Projects Motorcoach Census
3 Staff Reports – Board Handouts
All staff reports were provided in advance to all Board members. Feel free to raise any questions you may have about any of the staff reports during the Board meeting, directly with appropriate staff, or with Peter. Formal staff presentations will be given during the Board meeting. Meetings, Education, and Membership L. Brewer
Communications Report M. Hinton
Publications Report M. Hinton Bus Bulletin, Destinations, Insider, Motorcoach Marketer, Marketplace Today
Radar Issues
Executive Session
Adjourn
4 BOARD MINUTES ABA Spring Board Meeting May 3, 2017 Washington, DC
Members in Attendance
D. Anderson T. Fischer S. Parr-Brooks C. Anzuoni A. Glickman J. Percy, Jr. E. Berardi, Jr. S. Haddad P. Picknelly B. Blankenship S. Henry P. Raygorodskaya B. Blunt J. Jalbert K. Sanders H. Blunt T. JeBran C. Shepler L. Burtwistle D. Johnson I. Smart M. Butts C. Lentzsch A. Spence M. Coffman J. Meier L. Spruill M. Colborne J. Miller F. Tedesco B. Cole R. Moore W. Torres J. Conway TJ Morgan S. Woelfel D. Eaton C. Morris C. Young, Jr. E. Fickett D. Moser A. Fiorini P. Pantuso
Members Not in Attendance
D. Cornell B. Foley T. Morgan D. DeVivo F. Henry F. Tremblay W. Dickinson S. Lee R. Eyre G. Mackay
Guests & Speakers
R. Bast D. Geiger J. Merritt A. Berardi J. Goldwasser Matthew Moore B. Borwege M. Grundman G. Tedesco J. Forbes C. Laird K. Webb J.D. Foster P. Lloyd P. Ziska
Staff
E. Braendel M. Manousoff R. Schweitzer L. Brewer P. Pantuso B. Tucker M. Hinton S. Rohde
5 Opening Remarks
ABA Chairman John Meier welcomed the board to the Washington Marriott Georgetown and recognized a number of guests in attendance, including members of the ABA Foundation Board of Governors. ABA had a fantastic 2017 Annual Meeting & Marketplace in Cleveland. Technology has been a hot topic in recent meetings, and ABA has decided to undertake a new strategic planning exercise in 2017.
ABA General Counsel Rick Schweitzer reminded the attendees that the meeting would be conducted under the ABA antitrust guidelines and reviewed the prohibited topics therein.
Approval of the Previous Meeting Minutes
A motion was passed to approve the minutes from the Marketplace Board Meeting at the Cleveland Convention Center in Cleveland, OH on January 13-14, 2017.
President’s Report
ABA President & CEO Peter Pantuso covered the following subjects during his report:
• ABA staff is at full capacity with 18 members. Special Projects Coordinator Zoe Deloglos has transitioned from part-time to full-time employment at ABA, and has been splitting her time between ABAF and other projects. Bradley Tucker has been hired as Legislative and Communications Associate/Political Action Committee Manager, replacing Jonathan Degner.
• ABA will undertake a new strategic planning exercise on June 14-15, 2017. The last time this was done was in 2010. The exercise will be facilitated by Rick Goldstein of Kensington Consulting Group.
• Budget overview
o Government affairs funds will be spent more strategically as opposed to retaining the broad transportation lobbying firms that were used in the past.
• The Department of Defense inspection program has been eliminated.
• ABA was contacted by Carlson Wagonlit Travel, which has a group called SATO Travel that works with almost all government agencies. One of their mandates as part of their
6 contract with DOD is to provide charter bus service, so there is an opportunity for ABA members.
• ABA’s Annual Meeting & Marketplace will be hosted by Charlotte for the third time in 2018. The Marketplace Chairman is Terry Fischer, and IMG will be a part of this year’s show.
• ABA may combine the ABA Foundation Afterglow event with the ABA Gives Back event.
• ABA’s Annual Meeting & Marketplace 2019 will be in Louisville, in a newly renovated convention center.
• ABA is looking at Omaha, Baltimore, Nashville, Toronto, Grapevine, and Philadelphia for future Marketplaces with revised bid specs.
• Membership continues to be a top priority for ABA. 600 new members were brought in last year, surpassing the goal of 500. The goal for 2017 will be 600.
• ABA is working consulting firm RSM to find a new association management system for its database needs.
• Government Affairs staff has been very engaged with the Trump transition team and the new administration, and has recommended individuals for vacant posts and provided the administration with a list of regulations that ABA would like to have rolled back and changed.
• UMA has introduced legislation directing Congress to instruct DOT to make changes to benefit the industry and has asked ABA for our support. ABA will analyze the legislation and develop a response.
• ABA members that have received security grants have been contacted by FEMA and DHS asking for detailed information on how the money was spent, and members feel that it seems like an investigation. ABA’s counsel did not see any red flags, but there may be additional restrictions on how the funds are administered. A meeting with counsel and FEMA will be organized in the future.
• ABA has moved to a new publisher, YGS, and has been very active on all communications fronts, particularly on social media and video content.
• New regulations are in place for entry level driver training. ABA has been working with the Alliance Safety Council to develop a program to help members navigate these new regulations, which will be fully funded by Prevost. The program will be a Class B driver entry program with a P endorsement.
7 • ABA remains very active at state motorcoach association meetings and meetings of the travel and tourism industry. Peter and/or Suzanne will represent ABA at the largest meetings in 2017.
• The ABA Foundation Board of Governors held their meeting the day prior to the ABA Board meeting, and a number of BOG members are in attendance at the ABA Board meeting. Chairman Doug Anderson and Vice-Chair Sara Hamlin are term-limited as officers on the Board of Governors, and Peter thanked them for their contributions over the last nine years.
• The ABA Foundation has been working exceedingly well in all aspects, partially due to more staff involvement than in the past. Scholarship applications have increased substantially over the past two years, and staff have been developing new, fresh content to promote the work of the foundation.
• ABA continues to administer the Hispanic Motorcoach Council, Entertainer Motorcoach Council, Women In Buses, Florida Motorcoach Association, and Skål International USA.
• The Motorcoach Marketing Council has created some great materials as of late. Despite being well managed by Chris Riddell, the content is not being used.
• Peter gave the group an overview of the history of GroupConnect. GroupConnect is a great product, but will be disbanded due to lack of use.
Counsel’s Report
Mr. Schweitzer provided an update on FAST Act provisions regarding tolling equity for OTRBs. The Federal Highway Administration has released and published an initial request for comments on their interpretation of the FAST Act provision in the federal register that says OTRBs are supposed to receive the same rates, terms, and conditions as transit vehicles at tolling facilities constructed with federal funds. This document states that FHWA attempts to implement this requirement as a grant requirement for recipients of the funds. OTRBs have been given the same definition as in the Americans with Disabilities Act, and FHWA has taken an expansive definition of what constitutes being constructed with federal funds. FHWA has also released a preliminary list of 100+ facilities that were constructed under Section 129. The provision went into effect in October 2015. Mr. Schweitzer recommends that ABA submits a comment stating that the provision went into effect in 2015, and is working on an arrangement with law firm Mayer Brown to seek refunds or credits from several facilities in a couple test cases in order to get refunds from all facilities.
8 The American Trucking Association worked with Mayer Brown to file a class action lawsuit against the New York State Thruway, which has been diverting a percentage of toll revenues to the upkeep of the NY canal system. ATA won on summary judgment and the case was at the class certification stage, but the class was defined to include truckers, not bus operators. ABA, along with Starr Tours and DATTCO, filed suit against the NY Thruway Authority, but shortly thereafter the court dismissed ATA’s case on the grounds that Congress had approved the diversion of toll revenues to the canal system. ABA’s case was also dismissed. Both ATA and ABA have appealed and the cases have been consolidated.
Mr. Schweitzer also provided an update on a nuisance suit filed against ABA by an individual named Joel Chandler, a resident of the state of Florida who is an open government records activist who claims ABA has violated the Florida Records Act based on the Alachua County CVB’s membership, claiming that financial and business records should be available if public funds are used to pay association dues. Mr. Schweitzer is hoping to settle the case for a nominal amount.
Another litigation update was provided on a preemption case brought against charter service rules in Austin, TX in 2013. There were a set of charter permit requirements and a set of decal requirements as well. UMA got an injunction against the decal requirements but not the permit requirements. The court of appeals upheld the requirements. The concern is that this case sets a bad precedent for the rest of the country.
Guest Speaker
Mr. Pantuso introduced J.D. Foster, Senior Vice President, Economic Policy Division, and Chief Economist at the US Chamber of Commerce, who spoke on the state of the US economy.
2018 Marketplace Outlook
Marketplace Chairman Terry Fischer brought the group up to speed on developments regarding ABA’s Annual Meeting & Marketplace 2018.
• Mr. Fischer began by asking Mike Butts to update the board on the “Bathroom Bill”. The bill was repealed and there is a moratorium on this issue until December 2020.
• ABA is close to selecting the Isabella Santos Foundation as its ABA Gives Back charity for 2018, and is working to leverage Prevost’s relationship with both NASCAR and country music to find ways to generate excitement around ABA’s Annual Meeting & Marketplace, including potentially having a NASCAR driver introduce the Marketplace Gives Back charity.
9 • Mr. Fischer would also like to combine the Marketplace Gives Back charity event with the ABA Foundation Afterglow event to generate funds for both causes.
• ABA is also looking at ways to expand vendor participation in the show.
ABA Foundation Report
ABA Foundation Chairman Doug Anderson began by thanking ABA Foundation Board of Governors and ABA Board members that have been supportive of the Foundation, and praised the efforts of a very engaged ABA staff.
ABA Staff member Matt Manousoff delivered the ABA Foundation (ABAF) report at the request of ABAF Chairman Doug Anderson. Items discussed include:
• An overview of the Foundation, its programs, and revenue sources. • The 2017 Board of Governors has been expanded and was approved by the ABA Board. • Tom JeBran has been elected to fill the Treasurer spot left vacant by Gaetan Bolduc from Prevost. • An election to fill the seats of outgoing Chairman Doug Anderson and Vice Chair Sara Hamlin will be held in 2017. • There has been expanded staff engagement in ABAF and coordination with ABA programs. o Five staff members work on elements of Foundation programs: ▪ Peter Pantuso ▪ Matt Manousoff ▪ Zoe Deloglos ▪ Melanie Hinton ▪ Lynn Brewer o ABA has hired Zoe Deloglos to be a part of the ABAF team. • ABAF is revising current research projects and exploring new initiatives that tie in with government affairs efforts. o ABA’s Motorcoach Census survey has been shortened to include only necessary data in hopes that more members will complete it. The census is the most critical research project for the industry. o Economic Impact reports are being updated with a new look and feel. o Tourism report is being revised based on the feedback of DMOs and CVBs. o Issues expected to be covered include: driver pay structures, countering potential upcoming FMCSA research on preventative maintenance intervals, driver health
10 and wellness, the economic impact of motorcoach accidents and why they occur, and more. • ABAF is in the planning stages for a new fundraising push that will leverage new research initiatives to target new donors and renew contribution schedules for donors whose terms have lapsed, and plans to replace the Cornerstone Society with a new tiered giving and recognition system. • ABAF finances are covered in detail in the Finance & Budget Report. o 2017 auction proceeds were 35% higher over the prior year. ▪ Auctioning off a second bus was a difference maker along with some additional tweaks that were made. ▪ ABAF now has two auction co-chairs: Brenda Borwege and John Percy. ▪ Encouraging members to donate different items or more physical items and providing suggestions for popular items. • The ABA Foundation offers 21 scholarships valued at $100,000. o The 2017 selection process is currently underway. ▪ The 2017 program had almost 10 times as much exposure compared to 2015 in terms of applications viewed. o At the 2016 ABA Fall Board Meeting the ABA Foundation Board of Governors doubled the 18 ABAF-funded scholarships from $2,500 to $5,000. o The Yellow Ribbon Scholarship has been doubled to match the others. o ABAF now offers 19 $5,000 scholarships and two $2,500 scholarships. o All ABAF income raised at Marketplace will be put towards the scholarship program. • Staff have been hard at work on communications campaigns and new content surrounding ABAF’s two main programs: research (Investing in our Industry) and scholarships (Fund a Future).
Gene Berardi discussed the importance of developing new research projects that will benefit the industry and using those projects to encourage corporate donors to give.
Audit Committee Report
ABA Chairman John Meier delivered the Audit Report in Audit Committee Chairman Don DeVivo’s absence. • ABA received a clean opinion from its auditing firm.
A motion was passed to accept the audit report.
11 Bus Maintenance and Repair Council (BusMARC) Report
ABA Board Member John Miller delivered the BusMARC report.
• BusMARC’s third meeting took place at ABA’s Annual Meeting & Marketplace 2017. 70 people were in attendance, 40% of which have already registered for the BusMARC Spring/Summer Meeting. • The off-site session took place at Baron’s Bus facility. • After the meeting, BusMARC held a webinar and has content scheduled to go out throughout the year. • Promotional material has been distributed at state association meetings. • A partnership has been formed with Trailways, which could bring in up to 40 additional attendees to the summer BISC and Bus MARC meetings. • Sponsorship opportunities are growing and could help BusMARC become self- sustainable in the future.
BusPAC Report
BusPAC Committee Chairman Peter Picknelly delivered the BusPAC report.
• BusPAC had its best year ever in 2016, raising over $88,000 • The account balance is currently $213,000 • $36,300 has been raised so far in 2017 • 2017 goal is to raise $100,000 • In 2016, 54 donations were made to congressional campaigns totaling $66,000 o All donations go to members that support our industry’s views. • 30% of the board has contributed in 2017 • Board participation has decreased while total contributions have increased • Welcome packet for new BusPAC donors and an outreach program for new ABA members have been created. • ABA is working on an Ambassador Program to encourage board members to participate in outreach.
Finance and Budget Report
ABA CFO Eric Braendel provided the Finance and Budget report.
• There will be no impact to the financial statements when GroupConnect is dissolved.
12 • The new association management software costs were not budgeted for in 2017, but costs may be minimal during this year. Costs will likely be budgeted for in the draft 2018 budget that will be approved in the fall. • ABA moved $100,000 from operating income to reserves for the sixth year in 2017. • The ABA office has been renovated to provide additional space to sub-tenant Ascension. • ABA/ABAF Finance and Budget Committees will meet at each spring meeting with investment advisors. • Revenue for the 3 months ending March 31, 2017 is up $800,000 over the prior year. • Marketplace revenue increased by roughly $175,000. • Membership revenue is down slightly due to the travel segment. • Publications revenue is down by $30,000 mainly due to a drop in advertising revenue in the Destinations magazine. • Expenses for the year ending March 31, 2017 were $200,000 higher than the prior year, mainly due to decorating, A/V, and food costs at Marketplace. • Net profit at Marketplace was $50,000 less than what was budgeted. • Government Affairs and Policy department expenses are down due to decreased lobbying fees.
Eric also discussed the financial activity of the ABA Foundation:
• Cash on hand totals $389,000 • The ABAF endowment is at $5.8 million • Net assets are broken into unrestricted and temporarily restricted assets
Time & Place Committee Report
Time & Place Committee Chairman Gene Berardi provided the Time & Place Committee Report.
• 2017 Board Meetings o Fall Meeting – October 23-26 in Antwerp, Belgium, including a trip to BusWorld • 2018 ABA Annual Meeting & Marketplace – Charlotte, NC • 2018 Board Meetings o Winter – Charlotte, NC o Spring – Marriott Marquis, Washington, DC o Fall – Potentially on the west coast • ABA’s Annual Meeting & Marketplace 2019 – Louisville, KY • 2019 Board Meetings o Winter – Louisville, KY
13 o Spring – Washington, DC o Fall – Potentially on the east coast
Communications Report
ABA Director of Communications & Media Relations Melanie Hinton delivered the Communications report.
• Goal is to promote ABA as the trusted industry leader in the travel and tourism industry. o Three key elements ▪ Advocacy ▪ Membership ▪ General communication and outreach regarding ABA events, the ABA Foundation, continuing educational opportunities, and promoting ABA councils • New social media initiatives o #ABAWorkingForYou o #ABAEverywhere o Foundation Fridays o Research • Increased member engagement on ABAF topics through member alerts, blogs, and social media. • Increased member engagement to showcase government affairs efforts. • Promotion of the Fly-In and other events. • New efforts during ABA’s Annual Meeting & Marketplace resulted in excellent social media viewership. • Communications plan to promote members and membership benefits in ABA newsletters is being executed. • Increased media engagement on topics such as bus parking during the inauguration.
Technology Committee Presentation
Alex Berardi, Polina Raygorodskaya, and Gregory Tedesco delivered the Technology Committee Report. The report gave an overview of the history of developments in transportation technology along with information on cutting-edge topics in the present day including battery powered vehicles, online aggregators, ride-sharing services, autonomous vehicles.
14 Radar Issues
• Bryan Cole brought up the following issue: o As a result of the current administration’s travel ban, Toronto-area schools have decided to stop their cross-border field trips to the US. Schools in the Seattle area have cancelled international travel as well.
The Board went into closed session.
The meeting was adjourned.
15 ATTACHMENT
STRATEGIC SAFETY COMMITTEE CHAIRMAN’S REPORT TO THE ABA BOARD
From: Alan Glickman – Chairman Strategic Safety Committee
Date: May 2017
I am pleased to report that BISC is doing very well under the leadership of the new Chairman, Al Smith of Greyhound, Vice Chairman, Mike Ferianc of Coach USA, along with Brandon Buchanan, ABA’s Director of Regulatory Affairs and BISC Executive Director.
At the January Marketplace, in Cleveland, BISC was featured in the Marketplace App, in the Marketplace scheduling information, the Education Session scheduling information, and on the show floor. In addition BISC promotional handouts were provided to all attendees. Included in BISC’s effort to reach Marketplace attendees was an ABC company motorcoach with a BISC theme on the show floor. ABC is BISC’s title sponsor. BISC also created a Facebook page and received top billing in ABA’s, “ABA Bulletin”, the popular daily communication emailed to all ABA and BISC members. A new promotional video was completed which shows the benefits of BISC membership. BISC has presented its safety message at State Association meetings of Florida Motor Coach, Connecticut, New England, BANY, Massachusetts, Wisconsin and Virginia. Next, in addition to appearing at the Transportation Research Board and the Commercial Vehicle Safety Alliance Association, BISC will attend the Ontario Motorcoach Association.
BISC has been in collaboration with BusMarc on improving preventive maintenance procedures to reduce the risk of bus fires. Reducing bus fires is a regular topic at BISC meetings. BISC’s security Committee has joined with TSA to collaborate on addressing the threat of vehicle ramming…the recent terrorist threat that we have witnessed in London and Jerusalem when terrorists used vehicles as killing machines.
BISC has been active in planning a safety exercise scheduled for this September, in Delaware, with both AMTRAK and public transit. As you can see, BISC is busy with its promotions working with other safety organizations to increase the BISC reach and its effectiveness.
Highlights of recent BISC Winter meetings in Cleveland @ Marketplace this past January:
• Theme for the meeting was Emerging Technologies • Keynote speaker was David Strickland, former NHTSA Administrator who discussed autonomous vehicles...the hot new topic. • There were 190 attendees – some sessions had standing room only due to the heavy attendance and the rising interest in BISC. • The BISC Chairmanship turned over from Steven Evans of Pacific Western to Al Smith of Greyhound. We thanked Steven for his leadership and welcomed Al to his new role.
16 • The Norm Littler Memorial Safety Award was presented to our good friend Clyde Hart and was well deserved. • The ABA Government Affairs and Policy Team of Suzanne and Brandon set up a briefing session with FMCSA that was held after the BISC session.
Current work in progress includes: • Joining with additional safety associations to partner in relevant motorcoach safety projects and to produce joint safety publications and information. • Continuing to grow BISC attendance to even greater numbers. • Providing enhanced communication between BISC presenters, leaders, and BISC attendees at BISC meetings and throughout the year. • Creating a regular BISC member publication to keep BISC and ABA members informed on the most important issues between regular BISC meetings along with ongoing BISC activities. • Development and implementation of a RFP writer’s guideline to help steer these writers to the better and safer companies, who respond to the RFP’s as bidders. And, having the BISC Executive Committee create a tool kit for the RFP writers to encourage them to join the effort. This tool kit will provide RFP writers with a guideline to ensure RFP requirements include motorcoach safety and compliance components. The initiative will support an effort to ultimately “weed out” less reputable companies whose safety records and safety programs are substandard. • Follow-up on Pete’s idea to advise State Legislators of new motorcoach safety regulations. • Creating additional safety take-a-ways for BISC and ABA members. • Establishing a BISC/ABA library of safety and compliance information for public access, archiving motorcoach safety information, foundation safety research reports, power point, and other safety presentations. • Addressing BISC branding for optimal identification and exposure. • Addressing BISC access on both the ABA and its own website. • Maintaining BISC information to keep websites current and up to date. • Pete and Brandon are working on BISC articles for Bus Ride and Metro Magazine. • Continuation of BISC hand outs and articles that address…”Why Join BISC?” • Creating initiatives to land BISC sponsors with newly created sponsorship packages.
Why attend BISC? • Great chance to network with the top safety professionals in the industry. • Great opportunity to meet and interact with the top government safety regulators in an informal workshop environment. • Learn by listening to and interacting with top industry speakers. • Opportunity to build your contact list, to source safety and compliance information, and for emergency assistance on the road. • Get all your technical safety and compliance related questions answered.
17 BISC is the “best” value by joining an elite group of industry professionals, vendors, and government regulators helping to set the future for safety and compliance in the motorcoach industry.
I encourage all Board members and others to sign up now while we still have space available.
The Government Affairs and Policy Team is preparing its second BISC West meeting with California Bus Association in Alpine, CA at the Viejas Casino & Resort, October 17, 2017. The meeting will consist of highlights of some of the better past (“Best of BISC”) presentations from recent BISC meetings. BISC is currently working to get speakers for BISC West.
BISC West @ The California Bus Association meeting provides a good opportunity for those owners, west of the Mississippi, and for their safety teams to learn the benefits of BISC.
Upcoming BISC Summer meeting highlights: • Date – June 13-14, 2017 • Place BWI Airport Marriott – Linthicum, MD., a Baltimore suburb located next to the Baltimore Washington International Airport (BWI). • Theme – Focusing on the transition to the new regulatory environment (should be very interesting). • Keynote speaker will be Deborah Hersman, former Head of NHTSA. • A Users group session is planned for Saucon Technologies’ customers and interested attendees.
The BWI Airport Marriott has served as an excellent host property for past BISC meetings due to its easy access to Interstate Rt. 95, and its location minutes from to the BWI Airport.
A Reminder: All BISC meeting minutes are online for everyone’s convenience at [email protected]. As a side note, the next Strategic Safety Committee teleconference will be scheduled after the BISC Summer meeting in June.
My thanks to the BISC leadership for their outstanding work and for “RAISING THE LEVEL OF SAFETY IN THE MOTOR COACH INDUSTRY.”
And, as always, thanks to our important sponsors who bring BISC to all of us.
Title Sponsor – ABC Companies NIC Federal
Bridgestone Firestone Saucon Technologies
JJ Keller Protective Insurance
National Interstate GPS Industries (New sponsor)
18 American Bus Association Current Organizational Setup
NBTA Staffing ABA President & CEO ABA Foundation Staffing NBTA President Eric Braendel ABA Foundation President Seth, Eric, Vicki, Zoe Brandon Buchanan Peter Pantuso (202) 218-7229 (202) 218-7246 (202) 898-2700
Skål USA Staffing External Affairs Liaison Seth Coppe FMA Staffing Eric Braendel (202) 218-7246 Brandon Buchanan Seth, Eric, Jana, Lynn Seth Coppe Special Projects Coordinator Zoe Deloglos Zoe Deloglos (202) 218-7246 (202) 898-4690 (202) 218-7222
Sr. Director CFO Sr. VP VP Director ABA Publisher Education, Database & NBTA Coordinator Meetings, Education & Government Affairs & Communications & YGS Member Services Eric Braendel Member Services Policy Media Relations Vicki Osman (202) 218-7226 Lynn Brewer Suzanne Rohde Melanie Hinton (202) 218-7230 (202) 218-7251 (202) 218-7224 (202) 218-7220 Accountant Director Senior Director Baita Coly Membership & Director Sponsorship & Meeting (202) 218-7215 Business Development Regulatory Affairs Planning Legislative & Roderick Lewis Ex. Dir. BISC Jana Fields Communications (202) 218-7216 Brandon Buchanan (202) 218-7213 Associate; PAC Manager (202) 218-7227 Brad Tucker Manager, Member (202) 218-7206 Sales & Promotion Ali Brewer Director (202) 218-7234 Policy & Legislation Andrew Newhart Membership Database Management (202) 218-7214 Engagement & Member Services Coordinator Coordinator 19 Izza Qureshi Ashley Thomas (202) 218-7244 (202) 218-7209
President’s 2017 Goals September 2017 Update
20 Goal(s) Measure of Success/ Performance Target Performance (entered at start of year)
1) Government Affairs and Policy - Provide appropriate policy development, oversight, and staffing, including outside resources when needed, to achieve success 5 - Develop the strategies to ensure that ABA achieves -Advance legislation on sleep apnea, insurance and other related items to slow or Outstanding its legislative goals during transportation enhance pending regulations reauthorization - Hold regular meetings and calls with the appropriate departments and agencies - Work with the ABA Policy Committee to develop that impact motorcoach operations and travel appropriate policies - Through BISC and BusMARC, help educate agencies on the operational realities of - Meet regularly with members of Congress, the motorcoach industry and be proactive regarding safety operations and 4 coalitions, the departments of Transportation, equipment Exceeds Homeland Security, EPA, OMB, the Administration, - Develop and/or work with coalitions and others - Continually increase participation at BISC and BusMARC - Provide comments to pending regulations and review final and proposed rules to Regulatory Affairs see if ABA comments were adopted - Identify the list of MAP-21 pending and proposed regulations, those that have 3 - Work with the federal agencies responsible for bus been adopted, those that moved to proposed regulations, and where ABA’s input Target safety including FMCSA, NHTSA, and NTSB was considered - Work with other like-minded associations, organizations and coalitions on safety-related matters Achievements 5/2017 - Ensure that the GAP staff is fully engaged in the • Worked extensively to get to know new Members of Congress and regulatory process and is networking with regulatory members of the Administration, specifically at the U.S. DOT 2 agencies. • Provided names of possible appointees to White House OPM and to others Mostly Meets at DOT • Provided suggested rules and regulations changes to new Administration staff • Continued efforts to rollback lease and interchange regulation • Worked with Congress and DOT staff on: bus tolling/HOV, the CSA program, 1 ELDs, curbside definition, ELDT and other pending regulations Does Not Meet • Worked with ABA members who have been awarded security grants and are being asked by FEMA to provide additional information on past grant awards • Communicated to TSA a willingness to work with them and with FEMA to Weight help provide additional grant compliance information to the industry, and engaged expert counsel in grants to help guide ABA’s efforts 35% • As a result of working with DOT Administration staff, saw the successful rollback of the proposed regulations on the Safety Fitness Determination 21 rule • Provided updates to members on new Administration appointees and new Members of Congress • Prepared for ABA’s annual fly-in and hired outside experts to assist in scheduling appointments • Worked to develop a joint ABA-SYTA letter to send to President Trump and Secretary Ross on the travel ban issue and its impact on group and student travel
Achievements 9/2017 • Sent a letter to DOT’s Secretary Chao following the NYC bus crash on 9/18, asking for a meeting and more focus on illegal and unethical operators • Worked with Congress to support funding for Brand U.S.A., supporting inbound tourism efforts, following the Administration’s proposal to eliminate funding • Worked with Congress to keep security funding intact for intercity bus operators and retained an appropriations lobbyist to increase funding in future years • Held a joint meeting with UMA/ABA staff and leadership to find common ground on H.R. 2120 • Held a successful fly-in in May 2017 with 5 members of Congress speaking to attendees, with more direct Congressional member meetings and contact than in past years • Participated in a larger-than-normal number of fundraisers, including a recent one for Congressman Neal, ranking member on the Ways and Means Committee • Focused staff efforts on the two pillars of President Trump’s campaign, tax reform and infrastructure • Working with the Entertainer Motorcoach Council on the unique seatbelt issue facing companies that build out their coaches and the furniture to go in them, and preparing for an EMC meeting in Nashville in November • Held successful BISC and BusMARC meetings in Baltimore in June with one of the largest number of attendees to date • Continued outreach to House and Senate transportation committees on airport access issues as the FAA reauthorization works its way through Congress • Continued to be active and engaged with members of the Administration including staff and agencies at DOT and with the White House office of public liaison • Continued efforts to roll back and/or change the lease and interchange rules 22 • Reached out to members, who have been getting mixed messages, to let them know that the ELD rule does go into effect on December 16th • Completed training modules, working with the Alliance Safety Council and with a committee of ABA safety directors from member companies, and began promotional efforts to get them out to the industry. This program is sponsored by Prevost. • Held a meeting with AAMVA to discuss frustrations that members are experiencing in getting potential drivers through the DMV tests so that they can obtain their CDLs • Participated in multiple state and regional association meetings
Goal(s) Measure of Success/ Performance Target Performance (entered at start of year)
2) Meetings and Conventions - Work with the Strategic Marketplace Committee and staff to continue to grow Marketplace participation and maintain or grow net revenue 5 - Make certain that Marketplace continues to be the - Continue to provide a Marketplace that creates perceived value for attendees Outstanding dominant industry group travel show - Begin to use technology, education, speakers, etc. to create a “must attend” - Identify the trends and changes to the market that atmosphere for operators and suppliers can have an impact on Marketplace net revenue - Attract more overseas buyers to Marketplace - Create opportunities to enhance the perceived value of Marketplace to attendees - Attend state and affiliate association meetings, especially where opportunities to 4 - Achieve financial success by increasing attendance present are available Exceeds and sponsorships, and holding/reducing costs - Review the direct and indirect impact on ABA membership of including - Continue to look at opportunities to attract participation of outside organizations and ABA councils additional groups to be a part of the show and look at - Make certain that ABA affiliate organizations are part of the membership strategy opportunities to “merge” shows - Work with database vendors to see what new systems can be put into place and - Secure cities to host Marketplace for 2018 – 2020 how quickly, and push TEAM to make changes 3 Target Membership - Regularly reach out to the bus and travel trades and national transportation media and get stories placed
23 - Expand the membership - Being available 24/7 and calling companies when we are aware of an accident - Look for additional opportunities to get ABA’s - Reach out to other associations to look at communications programs that might message in front of existing members and prospects be a model for ABA 2 - Provide comparisons of web traffic for the old and new ABA websites Mostly Meets Communications and Publications - Work with publisher to increase net revenue, monitor their success, and make - Develop a broad communications vision that changes if necessary supports all aspects of ABA and has a marketing focus - Continually provide updates on net revenue from publications, less allocated - Maintain active relationships with trade and national internal costs 1 media and communicate regularly on issues of Does Not Meet interest Achievements 5/2017 - Continue to provide media support to all members • Completed a financially successful Marketplace with an estimated net and the motorcoach industry when significant events revenue totaling $1,655,000 (accidents) or other crises occur • Working with multiple cities to host Marketplace 2020 and beyond Weight - Complete and launch the ABA website redesign • Continued working with industry publications and partners to present - Oversee all ABA publications, ensuring that content industry awards 45% is member-driven and valued, and that advertising for • Worked with video producer at Marketplace to push out a constant stream all publications trends upward of media and social media products which created lots of buzz, and attendees liked and responded favorably to seeing them and working with same producer to engage members all year long • Participated in the 2017 Earth Week celebration, working with MCI and providing a motorcoach and information at the DOT building • Utilizing Kitchen PR on an as needed basis for severe crisis situations, and supported Burlington and Storer • Working with ABA’s new publisher, YGS, to help them understand the association and its members • Supported the ABAF efforts with the Fund a Future and Investing in our Industry campaigns and the auction • Continued growing ABA’s social media presence • Participated national, regional and state events including: UMA Expo and the NTA Convention, LCT Convention as well as Travel South the VA and WI Motorcoach Associations’ meetings • Secured media placement stating ABA’s displeasure with a ban by Washington Metro to keep buses out of stations during the inauguration • Supported efforts of the GAP and Meetings and Membership staff
Achievements 9/2017 • Worked on sales campaigns and strategies to attract new members • 208 new members by September 20 • Reorganized membership and meetings department staff duties • Working on a new event that ties in ABA Gives Back and the ABAF 24 Afterglow during Marketplace in Charlotte • Increased ABA participation at other travel, bus and limo shows expand visibility and membership efforts • Concluded the review and selection of a new association database provider • Finalized fall and spring Board meeting cities for 2018 and 2019 • Selected and negotiating Marketplace cities for 2020, 2021, 2022, 2024 • Continued an aggressive social media campaign to attract members who regularly engage with other associations • Launched two videos with FMCSA, ATA, OOIDA and AAA, focusing on safe interactions between buses/trucks and consumers • Initiated a social media campaign focused on taking buses in response to the work at Penn Station in NYC that is disrupting train travel • Supported 5 bus companies with crisis communications needs since May • Continued to support all GAP efforts where needed • Helped support Marketplace and membership recruitment with releases, marketing support, social media support and videos from the 2017 convention • Sent out more than 13 statements and comments in response to ABA, ABAF and government actions • Conducted interviews on Rod Dog Trucker radio and with Washington Post, Politico, Inc. magazine, NY Times, Wall Street Journal, School Bus Fleet magazine, and others • Working with YGS, ABA’s publisher, on strategies to increase sales and reduce costs including reformatting Insider and creating a Bulletin-like publication for the travel industry • Held an open house in June for ABA members and guests attending the IPW show in Washington
25 Goal(s) Measure of Success/ Performance Target Performance (entered at start of year)
3) Financial/Oversight - Achieve a net revenue number that matches or exceeds the annual budget - Hold annual meetings or finance-related committee meetings with detailed 5 - Manage the ABA, ABAF, NBTA and auxiliary budgets reports, and hold meetings with TD Bank staff to review investment policies and Outstanding under ABA management, ensure timely reporting, and results work with investment managers at TD Bank - Work with the ABA auditor to ensure a “clean” audit with no management issues - Work with the ABA and ABAF Treasurers, and with the or management letter Finance and Budget, and Investment Committees - Provide regular updates on ABA’s financial position to the Treasurer, and Finance and Budget Committee 4 Exceeds Achievements 5/2017 • Concluded redesign and construction of ABA’s offices to accommodate our tenant, Ascension Health • Achieved a clean 2016 audit with no management letter for both ABA and ABAF 3 • Worked with a team at TD investments to better understand our Target investment strategy and results
Achievements 9/2017 • Developed the 2018 budget with staff input that matched the strategic 2 planning results and direction Mostly Meets • Continued regular meetings with TD investments and began moving some of ABA’s banking relationship to a regional bank where fees are significantly lower than TD Bank
1 Does Not Meet
26 Weight
10%
Goal(s) Measure of Success/ Performance Target Performance (entered at start of year)
4) Special Programs and Projects - Work with IMG to ensure participation at BISC every other year - Survey BISC and BusMARC participants to determine the perceived value of both 5 - Provide leadership to the ABA Foundation programs and provide input to the planning and scheduling Outstanding - Create meaningful and valuable programs around - Work to ensure BISC and BusMARC are self-sufficient through registrations, BISC and BusMARC reduced costs and/or sponsorships - Continue to attract new organizations to be a part of - Work with other small organizations to incorporate them or provide support, if it ABA (like Skål and FMA) that add revenue and expose fits with ABA’s overall mission companies to ABA - Continue to see that GroupConnect is revenue neutral or positive, and increase 4 - Work with GroupConnect and Info Tree (the the number of active users Exceeds contractor/partner with GC) to keep the focus on getting the product user friendly and accepted, and Achievements 5/2017 expand the marketing efforts and number of users • Concluded ABA’s most successful live and silent auction raising $101,000 and another $21,000 in the Afterglow • Completed a review of all research over the past 10 years and developed a 3 new target of research opportunities that tie in to industry and legislative Target education • Working with John Dunham & Associates to revise ABAF Economic Impact Reports • Began discussions with members and ABAF’s researcher to streamline data 2 collection Mostly Meets • Continued to expand the BISC and CBA partnership, scheduling a BISC West meeting as part of the CBA annual meeting • Finalizing the Entry Level Driver Trailing, working with the Alliance Safety Council, and sponsored by Prevost • Working with OMCA and InfoTree to unwind and discontinue 1 GroupConnect Does Not Meet • Working on final arrangements with IRU to assist ABA with hosting the ABA Board during its visit to BusWorld
27 • Continued raising funds for BusPAC Weight Achievements 9/2017 • Began fundraising efforts for the 2018 auctions at Marketplace with 5% auction co-chairs Brenda Borwege and John Percy • Looking for creative ways to bundle ABAF donated products to make them more attractive to purchasers and increase their value • Worked with the four major bus manufacturers to secure a motorcoach from each one for the January auction, all confirmed • Working with California Bus Association and BISC to hold the second BISC West event, this year in conjunction with the CBA annual meeting. • Closed GroupConnect and directed searches for motorcoaches to the ABA website • Held discussions with the Skal board about increasing ABA’s fees to cover staff time looking at other procedural or management options to reduce ABA staff involvement • Completed BISC/BusMARC survey and the ABA annual member satisfaction survey and used the results to improve programs and offerings in the future. Results included: creating a session on driver qualification files and how to prepare them for audits; adjusting the meeting schedules, member visits to facilities and types of facilities; preparing drivers for tests; identifying partners, co-location opportunities, and meeting length
Measure of Success/ Goal(s) Target Performance (entered at start of year) Performance
5) Organizational Management/Strategic Planning - Match the staff with the needs of ABA, make changes where needed, and ensure stability 5 - Maintain an effective and engaged staff that is - Continue the annual process of reviews, looking at staff self-evaluations and Outstanding responsive to the needs of the association and department evaluations to understand the level of engagement, strengths and membership, engaged in all aspects of ABA, and works weaknesses of every employee as a team - Look for additional ways to leverage technology to Achievements 5/2016 enhance the member experience and to provide • Hired two staff members, Brad Tucker, to assist with GAP and 4 valuable content for members Communications, and Zoe Deloglos as full-time assisting with ABAF and Exceeds - Work with the ABA leadership to create a strategic Administration
28 planning session over the next 12 months • Brought staff together to research and interview companies who can - Look at opportunities to outsource, where those provide association management software (AMS) that will meet ABA’s opportunities create efficiencies while maintaining member needs and those of the Association 3 effectiveness • Retained a strategic planning consultant and began pulling together the Target strategic planning committee for a June 14/15 meeting at BWI • Continued efforts to enhance the buses.org site and make it more user friendly and intuitive
Achievements 9/2017 2 Mostly Meets • Organized and conducted a two-day strategic planning meeting in June utilizing Board and non-Board members to develop a three-year strategic plan outline and structure, and worked with ABA staff over the summer to create an implementation strategy for the plan • Hired Seth Coppe in the executive office and utilized additional temporary 1 staff to advance projects Does Not Meet • Began undertaking the process of moving the ABA database from an outdated system to a new database that will allow for more member interaction and engagement and will allow staff to better target members based on the member’s needs and focus Weight • With some recent staff changes, looking at ways to restructure staff responsibilities in certain departments that more fully utilize existing staffs’ 5% capabilities and identify opportunities for change that meets the goals of the strategic plan • Completed staff reviews, job descriptions by July 1
29 American Bus Association Strategic Plan Draft 2018-2020
Prepared by Rick Goldstein Kensington Consulting Group, Inc. June 16, 2017
30 Task Force Members
John Meier – Badger Coaches (ABA Chairman) Don DeVivo – DATTCO (Vice Chair and Chair of Strategic Planning) Doug Anderson – Anderson Coach & Travel Gene Berardi – Adirondack Trailways Brenda Borwege – ABC Companies Julia Conway – Big Bus Tours USA Rich Gilbert – MD Office of Tourism Kim Grzywacz – CIT Signature Trans. Steve Haddad – Bieber Transportation Group Karen Sanders – Bus Supply Charters Bill Torres – DC Trails (Hispanic Motorcoach Council Chairman)
Peter Pantuso Eric Braendel Lynn Brewer Suzanne Rohde Melanie Hinton
31 Planning Process 2017
Design Situational Strategic Operationalize Approach Analysis Planning
Create process to: Trends • Objectives • Communicate 1. ID key issues Competitors, • Measures • Annual plan 2. Set priorities Members • Prioritize & budget Staff initiatives • Track 3. Gain Consensus progress SWOT • Manage initiatives
Design the process meet ABA’s specific needs at this point in time
32 Situation Analysis
The external market opportunities & challenges vs. internal organizational capabilities
ABA has evolved since the last strategic plan: •Government Affairs still priority, focused on MC operators Situation •Annual Meeting & Marketplace and travel members provide most of ABA’s Analysis funding •Travel members now largest ABA segment and growing priority •Travel arena very competitive with other shows, associations •Operators remain divided among UMA, ABA, change not imminent •Industry ripe for disruption e.g. platform aggregators
Mission & Situation Strategic Balanced Vision Analysis Objectives Scorecard Strategy Strengths, Specific Why we weaknesses, desired outcomes How we track exist opportunities Integrated set of choices Desired & threats, vs. progress as we designed to meet implement the Future State competitors, objectives given plan marketplace 33 trends ABA Strategic Overview
How the organization fits
Target Income Services Mission Audience
• Marketplace Marketplace ($1.7M) •Inform & Travel Ind. Dues ($1.2M) • Government Affairs educate • MC Operators Operator Dues ($360K) • Books/Journals •Influence • Tour Operators Publications ($313,000) • Magazine policy • Group Travel BUSPAC $80,000 • Web based services • Education •Support • Policy Makers Foundation (400,000) member buying/selling
Competitors
• UMA • State Associations • NTA • OMCA • DMAI • IMG • U.S. Travel • TAP • SYTA 34 Membership Trends
35 Trends by Segment
36 Strategic Framework*
Situation Strategic Balanced Mission Analysis Objectives Scorecard Strategy
Strengths, Specific Why we Integrated set of choices How we track weaknesses, desired exist designed to meet progress as we opportunities outcomes implement the & threats, vs. objectives marketplace, plan shapes the strategic focus
Planning overview and sequence of steps
*Excerpted from “Are you sure you have 37 a strategy?” Donald C. Hambrick and James W. Fredrickson Mission
The mission is the fundamental purpose, which is consistent over many years
ABA is committed to maximizing the success of its bus, tour and travel members by: Draft •Representing industry in the government policy arena New •Facilitating industry buyer-seller interface Mission •Support industry through engagement, research & education of members to help improve their success
Situation Strategic Balanced Mission Analysis Objectives Scorecard Strategy Why we Strengths, Specific How we track exist weaknesses, desired progress as we opportunities outcomes Integrated set of choices implement the & threats, vs. designed to meet plan marketplace, objectives shapes the strategic focus 38 ABA Identity: Our Name, Tag Line and Logo
The name and identity can enhance our appeal to our target audiences
Draft ABA Name Bus Tour & Travel Update
Also recommend updating the logo along with the tag line update
39 Strategic Objectives
Specific results which can be measured. May change in 3-5 years.
1. Provide a unified, influential voice with a focus on key issues that impact our members 2. Engage and grow ABA membership Strategic 3. Deliver the leading marketplace for member buying/selling Objectives 4. Support the work of the ABA Foundation 5. Publish information to advance the bus and travel industry 6. Evolve the ABA organization capabilities to meet member needs
Mission & Situation Strategic Balanced Values Analysis Objectives Scorecard Strategy Why we Strengths, Specific How we track exist weaknesses, targets progress as we What we opportunities Integrated set of choices implement the believe, & threats, vs. designed to meet plan how we marketplace, objectives behave shapes the 40 strategic focus Summary of Strategy
Summarize strategic intent
Serve as an indispensable resource for: Strategy • Motor coach industry advocacy • Facilitating member buying/selling
Mission & Situation Strategic Balanced Values Analysis Objectives Scorecard Strategy Why we Strengths, Specific How we exist weaknesses, targets track What we opportunities Integrated set of progress as believe, & threats, vs. choices designed we how we marketplace, to meet implement behave shapes the objectives the plan strategic focus 41 Government Affairs
1. Strategic Objective: Drive the legislative and regulatory oversight framework at all government levels to eliminate the obstacles and promote the success of our industry Targets for 2020 Change/modify existing regulations: report on successes Legislative impact on industry: report on successes Staff Engagement Prevent onerous/burdensome regulatory actions: report on successes Resource management in support of Government Affairs targets Strategies Staffing: Maintain a strong internal group complemented by use of outside counsel Create member engagement & understanding, so they participate in advocacy efforts Open operator meeting at Annual Meeting & Marketplace to increase participation Orchestrate one on one member meetings with targeted legislators and regulators Coalition building to enhance our positions Seek to provide unified voice (Re-engage with UMA on coordination) Gather and use data that supports our advocacy efforts
42 Government Affairs
Strategies Conduct research to support policy development in coordination with the Foundation with the objective of repealing/modifying regulations and preventing promulgation of burdensome regulations Ongoing evaluation of opportunities and threats that could have policy impact Staff Engagement Monitor/Review Executive Branch regulatory reform efforts Review existing regulations; identify regulations for repeal/modification; communicate list to appropriate agency or file petition Track government-wide, agency new administrative actions, engage in rulemaking process as appropriate Develop/enhance agency relationships Participate in advisory groups, negotiated rulemakings and other agency meetings Facilitate agency information gathering Engage ABA membership in efforts to identify regulation for repeal/modification Educate ABA membership on new administrative initiatives and engage membership in rulemaking process, as appropriate Enlist Congressional support as necessary Provide scheduled reports on leadership and membership (and unscheduled reports, as appropriate) on regulatory activities to ABA leadership 43 Government Affairs
Strategies Staff Engagement Working with ABA leadership, develop/identify ABA legislative policy objectives, including opportunities and threats Monitor and track legislative activity, seek alignment with ABA policy objectives Educate and work with legislative offices for support Work with industry leaders to build, support and advance beneficial legislative activity or defend from negative legislative activity Pursue coalition building to enhance policy positions Continue to maintain and grow BusPAC, to support participation in Hill related events Participate in Hill events and policy initiatives around D.C. : hearings, round tables, forums Continue to grow and improve Fly-In participation Identify and facilitate research in support of legislative positions Maintain strong internal communication, within GAP and ABA generally to ensure proper coordinator and effective execution Continually evaluate capacity of GAP staff Ensure availability of appropriate information resources/services
44 Government Affairs
Strategies Staff Engagement Identify need for external resources (e.g. consultants, counsel, lobbyists) Work with state/regional association partners to expand resources and reach Continually evaluate/seek opportunities to build additional legislative/regulatory resource capability at existing ABA events (e.g. Marketplace, BISC, BusMARC etc.)
45 Engage and Grow Membership Base
2. Strategic Objective: Continue overall membership growth with focus on all current segments of the motor coach and travel industry Targets for 2020 $ Dues Revenue Number of members by segment Membership retention 90%+ Member engagement measured through AMS Strategies Recruiting Target potential members to attract to ABA in each membership category
Staff Engagement Conduct pop-up calls to members per category to discuss ABA value. Use these findings in future promotional materials Capture deeper information on members/prospects with new AMS system Use promo codes to determine effectiveness of campaigns Segment travel types and target for membership using detailed operator member profile information Focus on the growing tour operator segment (buyers); define different types of tour operators (buyers) and determine membership types/levels when appropriate
46 Engage and Grow Membership Base
Strategies Target potential members to attract to ABA in each membership category, cont.
Staff Engagement Use Foundation research to enhance and serve DMO segment, national chains and corporate groups Conduct a campaign to attract new travel members; utilize existing DMO’s and schedule meetings with prospects at their facilities Utilize one on one membership efforts with existing members reaching out to prospects Target council members who are not members of ABA
State Associations and industry Meetings/Events
Staff Engagement Obtain conference attendee lists for member/nonmember for post conference follow up Membership staff to attend state bus and travel association meetings when appropriate ABA to sponsor industry meetings and hold “on the road” events Information packet and target lists given to non-MEMS staff who are attending meetings Partner with state associations to offer dual memberships Find ways to keep ABA memorable post-events and/or meetings
47 Engage and Grow Membership Base
Geographic and market segments where we are underrepresented Staff Engagement Use existing data in coordination with ABA’s database to identify underrepresented geographic locations or areas and target companies within those regions Use future Annual Meeting & Marketplace cities as locations for ABA on the Road and identify potential businesses for membership At travel/tradeshows, schedule appointments with prospects prior to show attendance Use BISC and BUSMARC as a resource for new members and schedule meetings with non-member attendees Use existing data in coordination with ABA’s database to identify underrepresented geographic locations or areas and target companies within those regions
Member-to-member recruiting Staff Engagement Re-energize membership committee with new Member Get A Member campaign Conduct incentivization outreach to increase ABA promotional efforts Send personalized messages to prospects identifying existing ABA members in to establish credibility Use ASAE’s Marketing & Membership “Collaborate” portal to get suggestions on Membership Committee activities/duties to see what other associations are doing to make their Membership efforts effective Use existing committee members to build comradery with new members to help build a strong, ongoing relationship with the ABA (reinforcing our presence in North America) Assign ambassadors in segments of the country and utilize them to help recruit in their areas Provide incentives to recruit new members and Marketplace buyers
48 Engage and Grow Membership Base
Recruiting, cont.
Hire/allocate a dedicated sales person to do membership recruiting Staff Engagement Currently we have 2 full-time sales people Use CEO more to help sell (personalized letters, phone calls, meetings, ,etc.) Segment sales by region
Use manufacturer sales force as an extension of ABA with appropriate commissions/incentives Staff Engagement Incentivize bus manufacturers’ finance, insurance and sales staff to attract new bus operator members
Direct communication efforts to support membership, recruitment and retention efforts Weekly communication to members with tips and benefits Generate targeted messages to members with relevant issues Utilize AMS to track the success of membership campaigns Ensure staff in informed of ABA’s recruiting goals, efforts and incentives
49 Engage and Grow Membership Base
Marketing Publicize our story and fully use social media marketing and interactive communications Staff Engagement Share member stories from all segments of membership through close coordination with the Communications Dept. To utilize media platforms and ABA’s communications’ vehicles to increase promotional exposure Monitor social media to recognize and engage with members Utilize a marketer or marketing firm to create new membership materials Promote ABA attendance at other events through social media Electronic platform for member communication Staff Engagement Utilize AMS system to create member groups and communities Collecting and sharing member operational issues and solutions Staff Engagement Utilize AMS system and other resources to create a content and discussion platform for ABA members to exchange information and solve problems
50 Engage and Grow Membership Base
Membership satisfaction surveys Staff Engagement Utilize AMS system to understand member engagement and score satisfaction with the goal of developing better ways connect with members
Additional Valued Services: Scholarship programs, Best practice sharing, Councils, Training programs Staff Engagement Continue to create new educational and networking opportunities through Women in Buses Continue to utilize MKPL education speakers to create more educational opportunities for members
51 ABA’s Annual Meeting & Marketplace
3. Strategic Objective: Deliver the leading marketplace for member buying/selling
Targets for 2020 $$ growth # of Attendees ROI for attendees
Strategies Staff Engagement Target messages to each segment to increase participation Utilize AMS to create targeted messages Create and implement membership target categories (using titles) to customize messaging for a more personalized experience Utilize AMS to track member engagement and reward participating members Employing gamification options and creating a point system that rewards with engagement opportunities
52 ABA’s Annual Meeting & Marketplace
Strategies, Cont. Require Board members to actively engage and participate in the product show and encourage operator participation Staff Engagement Create panels/roundtables utilizing board members Develop pre-show plan for board members to assist in marketing Use testimonials from board members to promote the show Require board members to work membership booth Engage and attract the big 10 tour operators with individualized offers for each Staff Engagement Survey travel industry members to identify operators that they would like to see at ABA events Set up personal calls/meetings with ABA’s CEO to encourage Annual Meeting & Marketplace attendance Personally invite operators, pair with an ABA mentor and incentivize when appropriate Create more reasons for manufacturers/suppliers to be at the Annual Meeting & Marketplace and grow the associate/equipment side participation to attract more operators Staff Engagement Create a robust one day exhibit show making ABA’s Annual Meeting & Marketplace a “must attend” event for operators Re-examine RFP guidelines for timing/space Draft budget that includes incentives and giveaways for associates Examine associate full-week participation 53 ABA’s Annual Meeting & Marketplace
Strategies, Cont. Staff Engagement Create incentives for manufacturers to bring their operators and vendors Meet with the manufacturers to determine appropriate incentives for their customers and themselves Encourage manufacturers and vendors to meet at MKPL by providing appropriate space Sell as sponsorship package and include product showcase time Review BISC and BusMARC schedules to allow more educational opportunities and time on the floor Conduct vehicle and vendor specific training on MKPL floor Develop product showcase speaking events and use these as sponsorship opportunities Operator exclusive special event along with educational offerings to draw more operators Staff Engagement Utilize council and BISC meetings as educational opportunities for operators Focus on operational education by expanding the definition to include technology, sales/marketing, small business training outside of BISC and BusMARC meetings Create and implement a certification program for bus owners that set them apart as a trustworthy industry leader Hold education sessions on the floor that help drive the bottom line (business, insurance, financial, sales) Conduct vehicle specific/vendor specific training at winter meeting Develop product showcase speaking opportunities
Promote the appointment show and how the tour operation can enhance a bus company’s business 54 ABA’s Annual Meeting & Marketplace
Strategies, Cont. Report on ROI and publicize this to attract additional travel participants Staff Engagement Utilize post-marketplace research to capture sales and distribute information using a trusted third party Employ Foundation research to help members justify their budgets and participation Continue flexible pricing model Staff Engagement BOGO for bus manufacturers/vendors Maintaining competitive exhibit space pricing with other shows Re-evaluate sponsorship program and pricing Target value-added services e.g. buyers event for operators/equipment suppliers Staff Engagement Create exclusion events for Buyers to network (not just breakfast) Operator to operator sales options Operator sharing sessions ABA partners should have “show” specials and should be present at MKPL Create engagement that programs that encourage operator booth attendance
55 ABA’s Annual Meeting & Marketplace
Strategies, Cont.
Partner with other shows/events; explore, determine best fit: reach out to their participants Market the show to communicate the benefits to all target audiences Staff Engagement Utilize social media and communication department Use technology to create mechanism for year around member-to-member engagement Staff Engagement MKPL webinars should only be for MKPL attendees Create year-round access to operators who attend Give attendees year round access to the MKPL complete research database Utilize the “Marketplace App” all year Consider an ABA App as the umbrella software application to help members connect year round
56 Foundation 4. Strategic Objective: Support the work of the ABA Foundation Targets for 2020 Strategies Communicate the Industry’s impact using Foundation’s data to enhance the advocacy efforts and support membership Staff Engagement Create weekly #FoundationFriday Social Media posts Blog monthly to highlight a Foundation project, Scholar, or ABA Foundation donor/sponsor Brand ABAF Research to highlight recent studies and impact reports Engage and inform the ABA Foundation Board of Governors more effectively through quarterly conference calls to update on the Foundation’s ongoing projects
Coordinate with Foundation on research initiatives that will support advocacy Staff Engagement Include ABA GAP and Communications staff members in regular meetings In coordination with GAP develop specific research projects
57 Foundation
Strategies, cont.
Take a lead role in promoting and supporting fundraising efforts for research and scholarships Staff Engagement Bolster the Foundation Scholarship program through mailing campaigns highlighting testimonials from student recipients Begin the outreach to current and past donors to fund specific research projects that benefit advocacy Invest in staff to support research function Staff Engagement Continue utilizing outside research firm
58 Publishing, Communications and Social Media
5. Strategic Objective: Communicate to the bus and travel industry about ABA, its members and destinations with tour products, best practices, trends, advocacy Targets for 2020 Members Satisfaction with ABA pubs Creating positive awareness, member engagement and advocacy Readership including web, circulation, etc. Advertising $ and net income Outreach to mainstream and trades media Staff Engagement The Strategy will be developed using core principles with added emphasis on relationships, partnerships, accountability and results: Focus on clear objectives and key audiences Cultivate partnerships with media, regulating agencies, and other associations in the transportation, travel and tourism industry Ensure even greater cooperation and sharing of best practices between the national association and state associations Develop qualitative metrics for tracking results and success
59 Publishing, Communications and Social Media
Strategies Maintain and deliver a portfolio including magazine, membership directory that add value Where possible, create income from the communications/publications portfolio Use/include all media channels including traditional print publications, digital and social media Identify and create/source the right content to match member needs/interests to promote member awareness and engagement Support members with crisis communications Staff Engagement Advocacy: Drive legislative and regulatory oversight framework at all government levels to eliminate obstacles and promote the success of our industry Work with GAP on priorities and develop strategies built around them to enhance Advocacy’s impression on influencers Promote GAP efforts through email and social media channels to inform and engage members in advocacy efforts Collaborate with to GAP to create webpages that educates members, government officials and decision-makers on issues important to ABA and the industry Help build coalitions with other associations and government agencies to promote industry’s safety and security objectives as well as ABA’s reputation and influence on Capitol Hill and governing agencies Develop media-ready statements on issues that ABA has taken a stance on Utilize relationships with trade and mainstream media to promote ABA’s voice on issues 60 Publishing, Communications and Social Media
Staff Engagement Membership Continue overall membership growth with focus on all segments of the motorcoach, tour and travel industry Work with membership team to design and implement strategies that compliment membership sales team’s objectives Promote ABA as the only association businesses in the motorcoach, tour and travel industry need to belong to by publicizing ABA’s story, benefits, etc. Showcase ABA’s breadth and reach in the industry by showcasing ABA’s presence and leadership at conferences and meetings across the country. #ABAEverywhere #ABAWorkingForYou Produce content to promote ABA benefits utilizing hard mailings, emails, social media and other platforms to reach a larger audience of members and potential members Utilize social media campaigns to target audiences that are in the industry Show how ABA promotes its members to consumers
61 Publishing, Communications and Social Media
Staff Engagement Annual Meeting & Marketplace Deliver the leading marketplace for member buying/selling Work with Meetings to develop strategies and partnerships that help promote or market the Annual Meeting & Marketplace to a wider audience leading to increased recruitment Communicate the benefits of attending the show geared to different segments Utilize social media ad campaign to target potential attendees Promote the show and its value on social media channels and in publications Develop attendee referral videos to use throughout the year Utilize speakers as ambassadors for the show, have them create videos Develop a user-friendly, engaging show website.
62 Publishing, Communications and Social Media
Staff Engagement ABA Foundation Work with Foundation team on strategies to best engage members on both the scholarship side and research side of priorities Communicate the industry’s impact utilizing the Foundation’s research data to help enhance advocacy efforts, support membership and build ABA’s reputation Work with the Foundation team on communications such as press releases, letters and solicitations, and promotions Promote the Foundation’s fundraising efforts through social media channels and publications utilizing videos, blogs and announcements
Publishing, Communications and Social Media: Communicate the value ABA contributes to the industry and its members Develop strategies for major ABA programs and refine strategies as needed to create the biggest impact on members and influencers Develop positive relationships with trade and mainstream media to establish ABA as the industry leader and go-to resource on all things related to motorcoach, travel and tour issues
63 Publishing, Communications and Social Media
Staff Engagement Publishing, Communications and Social Media, cont. Maintain and deliver a portfolio including online publications, magazine, membership directory that add value Utilize all media channels including traditional print publications, digital and social media to promote ABA, its membership and the industry's impact Create the right content to match member needs/interests to promote member awareness and engagement Provide media support to members dealing with a crisis Contact or respond to all members involved in any form of crisis and offer to assist with their media efforts the media for them Grow social media channels members by engaging ABA members and potential members through advertisements, interesting posts and being responsive Maintain a provocative website that serves as a resources for all things ABA and in the industry, encouraging them to stay on longer Promote ABA and benefits of membership to attract new members as well as engage current members across all media platforms
64 Publishing, Communications and Social Media
Staff Engagement Resources & Tools Leverage our members into a community that is readily available to respond to media inquiries as well as calls to action on Capitol Hill Utilize digital social tools as well as traditional tools for outreach to our constituencies such as the ABA website, LinkedIn, Twitter, Facebook, and media databases Mobilize and utilize ABA Communication, GAP and other committees as well as our Councils Developing deeper and more productive relationships with both mainstream and trade journalists Continuing to enhance our digital and online activity, through new innovations Utilize a database of industry statistics as a resource library about the impact of the motorcoach, travel and tourism industry on the U.S. economy Working Across the Network Cultivate relationships and membership with the state associations so they are on board with our marketing and communication activities, as well as political grassroots Maximize the benefits of working together across the country as we deliver this strategy, keeping in mind the unique characteristics of each individual state association as we deliver this strategy
65 Organizational Capabilities
6. Strategic Objective: Strengthen financial, staff and technology resources to enable ABA to achieve the objectives, serve members and thrive in the future Target For 2020 Return reserve levels IT member support capabilities achieve high level of internal satisfaction Key Strategies: Continue to add to reserve levels with goal of achieving 12 months reserves Staff Engagement Transfer $100,000 each spring from ABA’s operating account to the reserve account Upgrade AMS and key IT capabilities to support needs of members and staff Staff Engagement Modernize financial tracking of activities related to membership and ABA annual meeting and marketplace Hire/develop staff to achieve top tier ABA Sales and marketing team Review and update the governance structure: evaluate the pros and cons of having a larger board to help drive engagement and advocacy Staff Engagement Utilize ASAE and other organizations to create an optimal board size and structure Fully engage the board through BusPAC giving, ABAF contributions and Congressional outreach Insure that all membership segments are fully represented on the board Staffing up Foundation to support its objectives Staff Engagement Currently there is one full time staff member engaged in supporting the foundation (Zoe) 66 Retain additional support as needed for specific research projects
ABA Government Affairs and Policy (GAP) Submitted by: Suzanne Rohde, VP of Government Affairs & Policy
Since the Spring 2017 Government Affairs Policy Board report, the Government Affairs and Policy Division (GAP) staff have continued to aggressively engage on both legislative and regulatory matters, as the Trump administration and Congress struggled to achieve policy goals. Although the Republican controlled federal government has few successes to date, the GAP team has made progress on various ABA motorcoach, tour and travel industry initiatives. On May 5, the President signed the FY 2017 omnibus appropriations bill funding the federal government through September 30, 2017, the end of the government’s fiscal year. The bill did include funding for the intercity bus security grant program, however it reduced the amount to $2 million dollars from the Senate approved $3 million. As well, language in the transportation appropriations bill reports in both the House and Senate included ABA language addressing the Federal Motor Carrier Safety Administration’s final rule concerning the lease and interchange of passenger vehicles. As well, GAP made progress in advancing ABA’s legislative object concerning airport access, working with a coalition and crafting an amendment for consideration as part of the Federal Aviation Administration reauthorization effort. Also, GAP met with UMA leadership to find common ground with H.R. 2120, UMA’s bill introduced early this year. The GAP staff also engaged in advocacy efforts concerning travel related issues, including the VISA waiver program and funding for Brand USA. Finally, in response to various policy interests of this Administration, including tax reform, infrastructure funding and regulatory reform, the GAP team continued to monitor the policy debates; meet with Congressional offices to provide education on the motorcoach tour and travel industry interests; attend/participate in hearings and forums concerning the policy topics; offer input when requested; and track progress on various initiatives to advance the policy interests.
In addition to legislative activities, GAP also continued to build relationships within the new administration, particularly on regulatory matters, and engage in agency rulemaking processes and regulatory reform efforts. These activities included attending the Roads and Rails Regulatory Relief Event with President Trump held at the USDOT, meeting with Chief Counsel of the Federal Motor Carrier Safety Administration, monitoring the execution of Executive Orders concerning regulatory reform, tracking legislative efforts related to regulatory reform, reviewing rulemaking proposals, preparing and filing comments where appropriate, and assisting ABA members with regulatory matters through the issuance of alerts, briefings and conference calls. The GAP, along with all of ABA, also supported emergency relief efforts in response to Hurricane Harvey, and assisted with a number of non-federal related, locally related legislative/regulatory issues.
In terms of BusPAC, fundraising activities have recovered from a rather slow start at the beginning of the year, through the aggressive efforts of GAP’s new Communications Legislative and Communications Associate/PAC Administrator, Brad Tucker and Chairman Peter Picknelly. The spring Fly-In/Board meeting produced a strong showing, along with on-going outreach through the summer months. Currently, the balance in the BusPAC account is $217,974. To date, contributions this year are exceeding last year, with $59,000 contributed. However, as a reminder, the fundraising goal for 2017 is $100,000. As well, the fund continues to receive staff contributions.
In addition to federal advocacy activities, GAP also attended the engaged in the ABA strategic planning session in June, prepared for and supported the summer 2017 Bus Industry Safety Council (BISC) and Bus Maintenance and Repair Council (BusMARC) meetings, supported the ABA’s IPW Open House in
67 June. As well, on an on-going basis, GAP continued to engage in coalition building activities, participated in various state/regional association and safety related meetings and conference calls, and initiated activities in support of the 2018 Congressional Fly-In. The GAP team also tracked various state legislative initiatives, and provided support to ABA Communications and Membership.
68 ABA Finance Department Submitted by: Eric Braendel, Chief Financial Officer
Revenue, excluding investment income, totaled $5,666,000 through 8 months ending August 31, 2017, up $138,000 from $5,528,000 through the same period in 2016.
Expenses through the first 8 months of 2017 were $4,572,000, an increase of $170,000 compared to $4,402,000 in 2016. The year to year increase in expenses is due to higher costs at Marketplace in Cleveland for food, decorating and audio visual. In addition, Board of Directors’ expenses are higher than in the previous year due to a strategic planning meeting that was held in June. Net income before investment income, or excess of revenues over expenses, through the first 8 months of 2017, is $1,093,000, or 3%, lower than the same period in 2016. ABA’s budget is highly dependent on the success of Marketplace each year. Revenue for Marketplace exceeded our budget, however due to the increase in costs at Marketplace in Cleveland, it is likely that we will fall short of the profit budgeted for Marketplace by approximately $50,000.
Current assets at August 31, 2017, consisting of cash, accounts receivable and investments total $6,577,000 compared to $6,107,000 last year at this time. In April 2017, prior to the Spring Board Meeting, ABA transferred $100,000 from its operating account to the reserve account at BNY Mellon per the decision to build up the investment reserves. This is the 6th consecutive year ABA has contributed $100,000 to the reserve fund in its effort to replenish the funds used to purchase its office condominium. ABA currently plans on contributing an additional $100,000 in April 2018, prior to the 2018 spring meeting.
69 ABA Communications Board of Directors Report Submitted by: Melanie Hinton, Director, Communications & Media Relations
Highlights: Promoting ABA We launched two consumer-oriented campaigns this summer: Our Roads, Our Safety Partnership with FMCSA, American Truckers Association (ATA) and AAA and a #BusesKeepYouMoving social media campaign for the Northeast and Mid-Atlantic Amtrak corridors while work was being done at New York’s Penn Station. This project has been dubbed the #SummerOfHell by NY Gov. Andrew Cuomo. We also encouraged members to follow ABA on social media as well as post the ABA logo on their websites to showcase their membership.
Our Roads, Our Safety Partnership ABA joined a coalition with FMCSA, ATA and AAA to promote as a surface transportation industry, safe driving on the roads around Commercial Motor Vehicles. ABA and our partners have been promoting the safety campaign on social media, our websites, our members and to the media. We encourage you to share our social media posts on the campaign and utilize the materials on the FMCSA website.
#BusesKeepYouMoving ABA took advantage of the situation with New York’s Penn Station rehab project to promote our many members who travel to NY either on scheduled runs or charters, we created an answer to #SummerOfHell: #BusesKeepYouMoving. When we saw a news article about the renovation project, we posted on social media and recommended that people to take the bus instead. We targeted commuters from Richmond, Va., up to Boston. We garnered some positive feedback and saw our social media numbers grow. This campaign ran through the end of August. To date, we had more than 121,872 impressions on posts. Crisis Communications While we had a relatively quiet summer regarding bus accidents, ABA put forth a campaign to educate our bus and tour operator members about ABA’s Crisis Communications member benefit. We mailed a flier to members laying out what to do in a crisis. Melanie Hinton participated in two webinars focused on crisis communications and social media.
Government Affairs & Policy: We have been quite busy on the legislative and regulatory side of the association. Early in the summer, ABA joined other travel industry associations to show support a number of travel and tourism issues, such as: funding cuts for Brand USA; funding cuts for state tourism offices; and visa processing issues. ABA also made several statements regarding FMCSA regulation updates and findings; Intercity Bus Security Grant program funding; and other issues affecting the motorcoach industry.
ABA Annual Meeting & Marketplace 2018
70 The Communications team has spent the summer building excitement about the 2018 ABA Annual Meeting & Marketplace. We have created a strong social media campaign highlighting the show with Marketplace Mondays, Wayback Wednesdays and Throwback Thursdays. We have also invited our speakers to create videos promoting their sessions and Marketplace this year and will utilize these videos, along with the videos we captured last year, throughout the campaign.
Membership: Working closely with the membership team, I have identified ways we can promote our members more and in turn recruit new members. In early September, we launched a social media ad campaign focusing on two groups: operators and tour and travel. We have designed ads that will speak to each group about the benefits of ABA. We have also partnered with a few industry trade publications to place ABA ads and articles that promote ABA. As part of the social media campaign, we created a video that tells the membership story. This video will be on ABA’s website as well as different member groups on social media. Early in the summer, ABA did a call for Heroes of the Industry stories asking members to tell us about the Corporate Social Responsibility. We have collected a number of stories which we will begin promoting as articles in the Destinations magazine starting with the Jan/Feb 2018 issues. ABA also helped with coordination efforts during post-Hurricane Harvey evacuations and clean-up efforts. Utilizing ABA’s network we were able to help spread the word about the hurricane, areas affected and call for companies to help with evacuation efforts. Activities: Media Engagement: Over the summer, ABA sent out 13 statements and comments regarding government action as well as highlighting ABA success such as ABA’s Annual Meeting & Marketplace numbers from Cleveland and announcing ABA Foundation’s Scholarship winners. Peter also did a number of interviews with Sirius XM’s Road Dog Trucker, Washington Post and Politico over the summer. One of the highlights of media engagement this summer was responding to an article in School Bus Fleet magazine that stated that school buses were safer than motorcoaches. We questioned the assessment and received positive responses on social media from ABA members and non-members who were appreciative of ABA “sticking up for the industry.” ABA was the only association that responded to this article. Social Media Activities We have been utilizing our social media channels more with the #ABAWorkingForYou campaign, highlighting our members with “National Days” each week and promoting the benefits of being a member of ABA as well as attending ABA events. This year we have been utilizing videos taken at ABA’s Annual Meeting & Marketplace to promote ABA’s Councils, meetings and ABA work in general. These videos have proved to be quite popular with followers. We also relaunched ABA’s Instagram page in August. Because of our increase engagement and use of social media networks, we have seen our social media audience and interaction continue to grow:
71 Facebook: 4624 in April to 4770 now (as of Sept. 1) (+547 since June 2016) Twitter: 3674 in April to 3807 now (as of Sept 1) (+431 since June 2016) LinkedIn: 3532 in April to 3560 now (as of Sept 1) (+ 120 since June 2016) Instagram: 397 as of Sept. 1
Crisis Communication In 2017, ABA has assisted the following companies with Crisis Communication needs: Storer Coachways (1/4-1/5) Burlington Trailways (2/24) Transportation Charter Services (5/5) First Class Tours (5/9) Werner Coach (5/15) Miller Transportation (7/22-26) Chicago Classic Coach (8/2)
72 ABA Meetings, Education & Member Services Board Report Submitted by: Lynn Brewer, Senior VP Meetings, Education & Member Services
MARKETPLACE REGISTRATION (MKPL 2018 numbers are as of Sept.1; the others are as of Aug.15)
MKPL MKPL MKPL MKPL 2018 2017 2016 2015
OPERATORS 591 463 471 447
BUYERS with Appts 270 246 272 265
DMO’s 372 326 369 357
LODGING 266 256 262 271
ATTRACTIONS 447 389 419 373
REC OP/CHARTER OP 85 69 69 61
ASSOCIATES 85 70 84 33
TOTAL 1860 1593 1693 1573
MEMBERSHIP TOTALS (Comparison from August 2017 - 2015) 2017 2016 2015
Associate Suppliers 145 130 113
Tour Operator 359 322 270
Bus Operator 656 597 521
Travel Industry 2135 1985 2022
Total Members 3369 3103 2993
191 (*159) new companies have joined ABA since January 1, 2017. • 15 Associates (*14) • 27 Tour Operators • 40 Bus Operators • 109 Travel Industry Companies (12 Inherited/Membership plus members/*133) MEMBERSHIP RETENTION Renewal Rates: Associate Suppliers: 88% Bus Operators: 83%
Tour Operators: 85% Travel Industry: 91%
73
MEMORANDUM
To: ABA Board of Directors From: Suzanne Rohde, ABA Vice President for Government Affairs and Policy Re: September 2017 Government Affairs and Policy Board Report Date: September 5, 2017 I. OVERVIEW
The following report provides an update on Government Affairs and Policy Division (GAP) activities since the last board report, dated April 12, 2017. It is organized around Legislative, Executive and Operations activities undertaken by GAP during this time period, on behalf of the American Bus Association.
II. LEGISLATIVE
A. NOMINATIONS
Congress and the Administration continue to make progress on nominations to fill presidentially appointed positions for executive branch agencies. As of mid-July, all cabinet-level positions were confirmed; however, on July 28th, the President named Secretary of Homeland Security General John Kelly as his new Chief of Staff, once again creating a vacancy at the Department of Homeland Security. An updated list of appointments and confirmations is attached. Just a brief note regarding nominations at the USDOT. Prior to August recess, the Senate did a mass push of voting out nominations, and confirmed Robert Sumwalt to be a member and chairman of the National Transportation Safety Board, Mark Buzby to be administrator of Maritime Administration, and David Pekoske to be TSA administrator. However, several DOT nominees were held up, including Steven Bradbury to be DOT general counsel, Ron Batory to be FRA administrator, Derek Kan to be undersecretary of Transportation for Policy and Adam Sullivan to be assistant secretary for governmental affairs. Although these nominations were ready for a vote, a hold was placed on them due to regional politics concerning funding for a large transportation project in New York known as the Gateway Program. The votes to confirm these nominations may occur this fall, when the Senate is back in session.
B. LEGISLATION
1. Appropriations a. FY 2017
In May, after passing a week long Continuing Resolution (CR) to extend the April 29 deadline established by the previous CR to allow more time for negotiations, both chambers of Congress passed a $1.1 trillion omnibus appropriations package funding the federal government through September 30, 2017, the end of the fiscal year. The legislation was signed into law on May 5th,
74 averting a government shutdown. Through aggressive lobbying efforts by GAP, the omnibus package did include funding for the Intercity Bus Security Grant Program; however, Congress reduced it to $2 million from the Senate’s original mark of $3 million. Candidly, GAP’s advocacy to continue funding for the program faces strong resistance, both in the House and Senate. As to distribution of the $2 million in FY 2017 funding, due to the delay in passing an omnibus measure, the Transportation Security Administration (TSA)/Federal Emergency Management Administration (FEMA) managed an expedited application process that closed on June 22. The announcement of grant awards was made on September 1, 2017. The overall number of award recipients was considerably down this year, with only 18 companies receiving awards (compared with 90, in 2016).
Also noteworthy, the omnibus legislation did not include language restricting the Federal Motor Carrier Safety Administration (FMCSA) from moving forward on its Safety Fitness Determination rule; however, the agency had formally withdrawn the rule in March, prior to enactment of the omnibus. Also, the legislation did not include language to establish federal preemption over hours of service, to render current the California “meal & rest break” law preempted. This is a controversial issue with the challenge being led by the American Trucking Association with ABA’s support. However, ABA supported language concerning the FMCSA lease & interchange rule did survive, as it was included in both the House and Senate appropriations bill reports. b. FY 2018
While the FY 2017 omnibus negotiations were underway, Congressional appropriations committees also attempted to move forward with the FY 2018 funding process, under “regular order.” However, with a new presidential administration, details of a formal budget request from the Administration were delayed until May 23. Then, once the request was submitted, many in Congress found it to be unrealistic in terms of funding priorities and proposed cuts. Also challenging the effort for “regular order” was the wrangling over passing a budget resolution, legislation Congress uses to set the levels for discretionary spending for the 12 appropriations bills. Nonetheless, House appropriations committees held hearings and marked up all 12 appropriations bills by mid-July, cramming what usually is about a 7-8-month process into about 3-weeks. After discussing the possibility of packaging all 12 bills into an omnibus measure to pass before August recess, which faltered due to Republican interest moving it with only Republican support, the House settled for passing a small “national defense” mini-bus package of 4 of bills (Legislative Branch, Energy-Water, Defense and Military Construction) before leaving for recess on July 28. The Senate was not as aggressive, completing the committee process for only 6 bills before August recess, even though it remained in session an additional two weeks into the month. For September, the House plans to move the remaining 8 bills in a larger mini-bus package, prior to the end of the fiscal year. However, the Senate is considerably behind in moving appropriations bills and there is significant resistance to the House-version of many of the bills, due to a number of controversial provisions including cuts to discretionary programs and increases to defense spending. It is unlikely a funding package for FY 2018 will pass prior to September 30, and members are discussing the likelihood of a CR, although its term is unclear at this point. Most expect that the CR will fund the government through the end of the calendar year, so while we may not be worried about a government shutdown at the end of September, there could be one at the end of December. Further, now in the wake of Hurricane Harvey, emergency relief funding will likely play a
75 significant role in FY 2018 funding decisions. In short, September will be a challenging month in the federal legislature.
During the summer, as part of the FY 2018 appropriations process, GAP aggressively engaged in support of two key ABA objectives: stopping the Federal Motor Carrier Safety Administration (FMCSA) lease and interchange rule (L&I rule); and funding for the IBSGP. In terms of the L&I rule, GAP was again successful in working with both House and Senate appropriators to obtain inclusion of language in the transportation appropriations bill reports. However, efforts to obtain continued funding for the IBSGP were not as successful. The House appropriations committee declined to include funding for the program in its homeland security appropriations measure (this is one of the 8 remaining bills expected to be brought to the floor in September). Congressman Dent (PA) conducted outreach on our behalf to the committee, and raised the issue at the mark-up for the bill. As well, several ABA members and representatives joined GAP in conducting direct outreach to specific House members, including the chairman of the House appropriations committee Congressman Frelinghuysen (R-NJ). We also elicited support from the U.S. Travel Association, as part of our broader effort to work with organization on travel related issues. Since the House mark-up, GAP has concentrated its efforts on the Senate side, continuing outreach to key offices, working with the Transportation Security Administration on data to support the funding request, and coordinating with various ABA members on Senator outreach. We were successful in facilitating the re-introduction of legislation in the House to reauthorize the IBSGP, by Congressman Lipinski (D-IL) and Congresswoman Comstock (R-VA). We also gained support for funding the program, including interest in legislation to reauthorize it, from Senator Shaheen (D-NH), a member of the Senate homeland security appropriations subcommittee. This support is in addition to support we received from senators Blunt, Hoeven, and Baldwin, all members of the Senate appropriations committee. In late July, GAP also learned of a letter sent to the homeland security appropriations leadership from Senator Durbin, a ranking member in Senate leadership, along with a contingent of over 30 Democrat Senators, urging robust funding of the transportation grant programs, including the IBSGP. Aside from the appropriators, GAP also engaged in efforts to work with Senator Johnson’s (R-WI) office, both directly and through ABA members, due to his role as chairman of the Senate Homeland Security Committee and based on his prior criticism of the program with Senator Flake (R-AZ). Because of the Johnson/Flake previous identification of the IBSGP as wasteful, we continue to face an uphill battle to obtain funding. The GAP team, with assistance from ABA members and member representatives, remain in close touch with the offices of senators Blunt, Hoeven, Baldwin and Manchin, and plan to continue seeking support for the program in the Senate, as we head toward final funding negotiations this fall and building long term support for the program. We are currently targeting other members of the Senate Appropriations Committee, including senators Boozeman (R-AL), Collins (R-ME), Shelby (R- AL), Murkowski (R-AK). However, as we stay engaged in the entire appropriations process, we are hearing from staff of significant pressure to find ways to reduce spending and cut programs. Also noteworthy, the FY 2018 financial services appropriations bill passed by the House contains language prohibiting the Internal Revenue Services (IRS) from finalizing and implementing the estate and gift tax valuation discounts changes, opposed by ABA. Working with the Family Business Coalition, GAP has remained vigilant in opposing this rulemaking. Finally, federal funding for Brand USA, which GAP included in its appropriations advocacy efforts, was retained in the FY 2018 appropriations despite the Administration’s proposal to redirect the funding to border security.
76 2. Tax
Although tax reform continues to be identified as a high priority for the Trump Administration and the Republican Congress, the past several months demonstrated, like other Republican priorities, Republicans are not united on this issue. Initially, tax reform was relegated to second place in terms of priorities, while Republicans attempted to keep campaign promises to repeal/replace the Affordable Care Act. However, by August, although the House did eventually pass legislation, it became clear the Republican controlled Congress and Administration have not found a way to keep this promise. This outcome makes success on tax reform even more urgent for Republicans, as they need a victory going into the 2018 mid-term elections. Thus, to avoid the pitfalls of the ACA repeal/replace effort the Administration and Republican Congressional leadership are working more closely together, and they may scale back on the level of ambition. Further complicating things, Republicans had hoped to use the money saved by passing Obamacare repeal and replace to help pay for tax reform, but now they do not have those savings.
Over the course of the summer, while the ACA repeal/replace effort floundered, the Administration and Republican leadership spoke of turning attention to tax reform, and to some degree this occurred but without producing an agreed upon product. The House tax writing committee began holding hearings on tax reform in the spring; while the Senate tax writers held their first hearing on July 18. Yet, the real work on the issue is being done through the “Gang of Six,” a group comprising House Speaker Ryan (R-WI), House Ways and Means Committee Chair Brady (R-TX), Senate Majority Leader McConnell (R-KY), Senate Finance Committee Chair Hatch (R-UT), Treasury Secretary Mnuchin, National Economic Council Director Cohn. On July 27, the Gang of Six issued a joint statement outlining their tax reform principles, which clearly rejected the controversial border adjustment tax or BAT idea but provided few other details. The intent of the group was then to use August as a period of touting tax reform in events around the country, and then release some form of a framework in September. However, with the onset of Hurricane Harvey, in addition to a number of other “must pass” pieces of legislation (e.g. increasing the debt limit, appropriations bills, reauthorization of the Federal Aviation Administration, and now emergency funding from Hurricane Harvey), Congress will be hard pressed to make progress on tax reform before the end of the year. Further, as Republicans are determined to pursue tax reform without bipartisan support, they need a budget resolution to use the reconciliation process to overcome opposition from Democrats. A budget resolution, generally, is statement of party principles but it can also serve as a critical tool to overcome the Senate filibuster and move controversial legislation, sidestepping the minority party, through a process referred to as reconciliation. The House Budget Committee did finally pass an FY 2018 budget resolution out of committee just before the August recess, but it faces an uphill battle in terms of passing both the House and Senate because it calls for drastic cuts to domestic spending. With these various challenges to overcome, and now with funding pressure from Hurricane Harvey, the timing and process for tax reform is difficult to predict at this point. A more detailed summary of the state of play, prepared by ABA’s consultant Capitol Tax Partners (CTP), is attached.
As activity on general tax reform proceeds, GAP will continue to monitor and engage in the process as appropriate, with the assistance of CTP, to protect ABA interests, such as the fuel tax
77 refund, and advance additional ABA interests. At the beginning of the summer, Senate Finance Committee Chairman Hatch (R-UT) asked industry groups and other stakeholders for tax reform recommendations in an effort toward ensuring that lawmakers and the White House meet their objective of overhauling the tax code to boost the economy. To support the Chairman in his effort, ABA submitted comments outlining our goals for tax reform on July 13. In further supporting the advancement of ABA interests, on August 8, GAP issued a survey with questions developed by CTP, seeking ABA member input to assist GAP in articulating ABA’s tax policy position. Additionally, as members of several coalitions advancing specific tax related positions in-line with ABA interests, such as estate/gift tax repeal, and we have routinely participated in educational forums and advocacy campaigns in support of the coalition position.
3. Security
In addition to our advocacy for funding the IBSGP, GAP also worked to advance legislation from Congressman Lipinski (D-IL) and Congresswoman Comstock (R-VA) reauthorizing the IBSGP, the SAFER TRANSIT Act. After finally reintroducing the bill, in June, at the request of Lipinski’s and Comstock’s office, we conducted several meetings to assist them in seeking support to add the bill as an amendment to the Homeland Security Reauthorization bill (H.R. 2825) that was to be brought to the House floor for a vote. They requested our assistance as neither member sits on the House Homeland Security Committee. However, at last minute, the bill was added to the House suspension calendar, a fast track method of approving bills that prohibits amendments, thus passed without an opportunity to seek the amendment. At this point is unclear whether the Senate will take up the bill. Thus, with Congressman Lipinski’s office, we continue to seek legislative vehicles and find additional sponsors for the bill. Working directly with ABA members and respective representatives, GAP also made some progress on the Senate side. We, joined by other representatives from ABA members, met with Senator Johnson’s (R-WI) office, in an effort to gauge the Senator’s current position with regard to the program. We also assisted an ABA member in an effort to obtain a local meeting with the Senator, although this has yet to occur. Progress was also made with Senator Shaheen’s (D-NH) office. GAP supported an ABA member meeting with the Senator in July, where she not only committed to supporting continued funding for IBSGP, but also expressed interest in crafting legislation to reauthorize the program. GAP will be following up and supporting her staff in this effort.
4. Aviation Reauthorization
Over the course of the summer, both the House T&I committee and the Senate Commerce committee proceeded with hearings and eventually both committees marked up legislation at the end of June to reauthorize the Federal Aviation Administration, which is due to expire on September 30, 2017. However, akin to last year, the T&I bill (H.R. 2997), due to the controversy surrounding Chairman Shuster’s (R-PA) interest in establishing the air traffic control functions as an independent entity, does not yet have sufficient support to bring to the House floor for a vote. While the Commerce committee under Chairman Thune’s (R-SD) leadership moved a less controversial bill (S. 1405) with broader support, but it, too, now faces some opposition. Senator Schumer (D-NY) has on the bill over a provision concerning pilot licensing. At this point, with a number of “must pass” (and also controversial) pieces of legislation awaiting action by Congress
78 and a dwindling legislative calendar, we could see another extension to the FAA program authorization.
Neither the House or Senate FAA reauthorization bills addressed ABA’s objective concerning airport access. The GAP team did make progress on this initiative, though, through the summer. Working with a coalition comprised of the near airport parking industry and the limousine/taxi/paratransit industry, enabling GAP to present a stronger front on this issue. Prior to the markup of in both the House and Senate committees, the coalition met with several Congressional offices to promote an outline legislative changes affecting the airport grants. However, it was a difficult proposal in terms of garnering support, as it was adamantly opposed by both the FAA and airport lobbyists. Following markup of the bills in June, GAP met with Senator Thune’s staff and drafted up a more reasonable amendment, establishing a working group with stakeholder representation to address surface issues at airports. GAP then worked with the coalition to garner support, and met with the Commerce staff to discuss ways to move forward. The intent would be to offer the amendment when the Senate bills comes to the floor for a vote, possibly in September. In preparation, the coalition is now seeking Senators to champion the amendment and build support. Although the amendment presents a very reasoned approach, airports have already notified GAP of their strong opposition. Again, emphasizing the challenges involved in addressing a surface related issue within the aviation context. However, the prospect of another delay in passing an FAA reauthorization bill, provides more time for the coalition to seek champions for the amendment in the Senate and work with the House, although there still remains the possibility the Senate may vote the Thune bill in September. If Congress is forced to pass a clean FAA extension, it will likely only be through the end of the calendar year, so GAP will continue its outreach effort on this matter through the fall and winter.
5. Infrastructure
The new Administration also came into office with the goal of producing a significant infrastructure package (a trillion-dollar plan, mentioned during the election campaign), to address the laments of a nation of crumbling infrastructure. Yet, like other policy goals, actual progress on the infrastructure front has been elusive at best. Infrastructure investment was a missing element from the Administration’s budget proposal, aside from recommending killing funding for Amtrak, transit new starts and the TIGER program. In June, the Administration publicized an “infrastructure investment week” filled with events, one of which ABA attended at the USDOT entitled Rails and Roads Regulatory Relief, where the President gave a rallying speech on the importance of cutting through red tape to build projects. However, other than several administrative notices seeking suggestions/or proposing “experimental procedures” to expedite infrastructure investment (i.e. cut down on red tape), along with much publicized meetings between the Administration and stakeholders, there appears to little progress on the development of a “plan.” Secretary Chao has alluded to a plan, but it will most likely resemble the same principles-type document produced for the budget earlier this year and tax reform. The only clear position from the Administration regarding infrastructure, to date, is the interest in public-private partnerships and tolling, with the idea of seeking greater private and local investment rather than relying on federal resources. However, if the Administration and Congress can succeed in addressing the most pressing issues of the debt ceiling and FY 2018 funding, along with successfully passing tax reform, there is a possibility for progress to be made on infrastructure,
79 especially considering the strong desire for some legislative wins prior to the 2018 mid-term elections.
6. Data Access
Recently, ABA was asked to join a new coalition concerning access to data from highly automated vehicles or HAVs. As a forerunner to fully automated or autonomous vehicles, various interests have asked legislators to weigh-in on the issue of data and its ownership. Original equipment manufacturers or OEMs of vehicles are making the case they should own/control the access to data generated by highly automated vehicles for security and safety purposes; however, there are privacy concerns and vehicle owner interests to take into consideration. This is not an entirely new issue, as the aviation industry has grappled with this same issue, in addition to safety investigators. It poses a number of concerns, and there are a variety of interests at stake. Currently, only data from an event data recorder in a vehicle is regulated, and federal law states that the owner of the vehicle owns/controls the data. However, the National Highway Traffic Safety Administration (NHTSA) has an interest in guarding against cybersecurity or hacking incidents with HAVs, and on this basis along with safety reasons for maintaining a vehicle, OEMs have suggested they should own/control the data. On July 27, the House Energy and Commerce Committee marked up a bill (H.R. 3388 – the Safely Ensuring Lives Future Development and Research in Vehicle Evolution or SELF DRIVE Act) that, among other things, touches on the data access and cybersecurity but did not entirely resolve it. The bill was bipartisan and passed the Energy and Commerce Committee 54-0. The full House will take up the bill the week of September 4 under suspension of the rules, so it is likely to pass with a large bipartisan majority. The coalition is working on language to put forward in the Senate, as the Senate Commerce Committee continues to work on similar legislation.
7. Miscellaneous
In addition to the various legislative topics outlined above, GAP also engaged in advocacy activities and tracking of other pieces/provisions of legislation such as Congresswoman Meng’s (D-NY) bill (H.R. 2715) on baggage fees, Senator Thune’s (R-SD) bill (S. 763) on surface and maritime security, Congressman Babin’s (R-TX) bill (3282) seeking a delay in mandate for electronic logging devices and related provisions in the FY 2018 transportation appropriations bill, and Congressman Perry’s (R-PA) bill bus bill (H.R. 2120). . The GAP team also lent assistance to state and regional associations and ABA members with regard to activities by the New York City Council, and the New York/New Jersey Port Authority, and the Chicago City Council.
II. EXECUTIVE
A. EXECUTIVE ACTIONS
1. Executive Orders - Generally
As noted in the GAP monthly reports, President Trump has made generous use of Executive Orders (EOs) since his inauguration on January 20, 2017. Executive orders are directives from the president used to govern the actions of Executive branch agencies. As they receive no review or
80 approval from Congress and can only be challenged in court for exceeding current law, such orders are limited to directing executive branch activities. Nonetheless, presidents throughout history have often used EOs to implement their policy goals, and at times to sidestep an unfriendly Congress. To date, President Trump has issued 45 EOs, and GAP has tracked these directives to identify matters of particular interest to ABA and take action when appropriate. Specifically, GAP has focused on the EOs related to regulatory reform, executive branch reorganization and travel related restrictions, and took note of EOs concerning “buy American and hire American, an advisory council on infrastructure and promoting rural prosperity.
2. Regulatory Reform
With regard to regulatory reform, the President has signed 3 EOs (13771, 13777 and 13789) in addition to the regulatory freeze memorandum following his inauguration, providing a basis for regulatory reform. Collectively, these documents have led to regulatory reviews by executive branch agencies and in some cases withdrawals of pending rulemakings, the establishment of regulatory task forces to ensure implementation of the “2-for-1” regulatory directive and other reforms, and ongoing activities to provide regulatory relief. As part of the monthly GAP report, GAP has started to include updates on executive branch regulatory reform task force activities. This is not turning out to be a uniform activity across the government, but we are seeing evidence of efforts for agencies to better manage rulemaking activity and scale back. For example, the Internal Revenue Service (IRS) solicited comment on a list of pending regulatory actions it was reconsidering which included the pending rulemaking concerning valuation discounts for estate and gift tax purposes, a rulemaking ABA strongly opposed. GAP, on behalf of ABA, submitted comments in line with its coalition partners, submitted comments in support of the IRS withdrawing this proposal.
3. Reorganization of the Executive Branch
In terms of executive branch reorganization, EO 13781, in May, Office of Management and Budget Director Mick Mulvaney, solicited ideas from the public on how to make the executive branch more effective and efficient. On behalf of ABA, GAP submitted 2 ideas: 1) the need to advocate for greater involvement by private industry in supporting public transportation needs, citing the need for broader access to FTA grants and expanding the Essential Air Service program to enable motorcoach operators to serve rural needs; and 2) the need for FMCSA to consider 3rd party resources to support their inspection activities. Following the submission of these documents, GAP had an opportunity to meet with OMB officials and discuss the ideas in June.
4. Travel Restrictions
The President issued several EOs relating to international travel to the U.S. (E.O. 13769 , 13780 and 13802). These actions let to a negative impact on international travel to the U.S. and attendant negative media coverage, effecting ABA members. In response, GAP took the lead on drafting a letter to President Donald Trump and Commerce Secretary Wilbur Ross regarding the unintended consequences of the travel bans, and coordinated with the U.S. Travel Association (USTA). We also worked with the Student & Youth Travel Association (SYTA) to draft and send a letter to the President and Secretary of Commerce Ross expressing concern, in the wake of Toronto, CA,
81 announcing its plans to curb student travel to the U.S. Then, following the issuance of EO 13802, repealing the target goals for processing VISAs, we joined with USTA again in sending a letter in opposition in July.
B. REGULATIONS As previously noted and mentioned in the monthly GAP reports, agencies/departments are continuing their internal regulatory review of rulemaking proposals that were pending at the time of the administration change. In terms of rulemakings GAP tracked, only the rulemaking proposals issued by TSA in December 2016 appear to be exempt from the executive review directive. The following provides an update on rulemaking actions monitored by GAP that have updates, along with new administrative initiatives. In addition to the actions identified below, there remain a number of other administrative actions GAP continues to track, however there are no updates to provide at this time.
1. Fixing America’s Surface Transportation Act (FAST Act) Provisions a. Tolling/HOV The Federal Highway Administration (FHWA) finally published an initial draft of guidance on how to implement the FAST Act regarding equitable treatment of over-the-road-buses in terms of tolling and high-occupancy-vehicle (HOV) status. GAP filed comments, and assisted other ABA members with filing comments on the guidance by the May 30, 2017, deadline. Although this publication was a good initial step, we are awaiting publication of the final guidance. b. FMCSA’s CSA Program The FAST Act directed FMCSA to commission the National Academies of Science (NAS) to conduct a study of the efficacy of the Compliance, Safety, Accountability program (CSA) and the Safety Measurement System (SMS), the analytical tool used by the program. The NAS completed its study and issued its final report on June 27. The report stated that although the current analytical tools were justified, the system could be improved. Now, as the FAST Act requires, FMCSA is developing a corrective action plan to address the NAS recommendations, for submittal to the USDOT Inspector General. As part of their process, FMCSA is holding a public meeting for stakeholder input, and ABA is participating in this even scheduled for September 8. c. Planning The FAST Act also amended federal planning statutes within both the federal highway and transit programs, to require state and local transportation planning processes to account for intercity bus facilities and the economic and environmental benefits of intercity bus systems, and include intercity bus operators in the planning process. In December 2016, after a controversial rulemaking process, FHWA jointly with the Federal Transit Administration (FHWA/FTA) published a final rule incorporating the FAST changes into the planning process, but also finalized significant changes to the organization of Metropolitan Planning Organizations or MPOs. GAP filed comments in this proceeding opposing the MPO reorganization changes. However, as the rule was so controversial, Congress repealed it under the authority of the Congressional Review Act, and the repeal was signed into law on May 12, 2017.
2. Lease and Interchange
82 GAP’s efforts to force FMCSA to modify or repeal this final rule, continue; the compliance date for the final rule is now January 2019. In June FMCSA published a brief notice again expressing its intent to revise the rule and outlining ideas for revision. However, the document did not include any proposed regulatory text. After learning from FMCSA staff the Agency planned to move directly to a new final rule, without providing the industry an opportunity to view proposed revised text, GAP led an industry-wide campaign to force the agency to publish a formal NPRM, through comment submissions by the July 31 deadline. In this effort, GAP also successfully enlisted the assistance of both House and Senate appropriators to force the agency to clarify its actions. Currently, we are waiting the next actions from FMCSA in response to our request and comments.
3. Electronic Logging Devices (ELDs)
FMCSA published its final rule on electronic logging devices on December 16, 2015. The first compliance date under the rule is December 17, 2017, when all operators will be required to begin using ELDs. As the compliance data approaches, a number of interests have sought a delay and in some cases repeal of the mandate. Specifically, the Owners-Operators of Independent Drivers Association lost their appeal to the Supreme Court in June to overturn the mandate, leaving the Legislature as the final hope for recourse. Meanwhile, over the summer, FMCSA undertook various initiatives to assist operators with coming into compliance. In June, they initiated a national campaign to assist CMV operators and drivers, with events around held around the country. They also published a list of ELD FAQs, and routinely update the list of registered vendors (and those who have lost their registration). As well, at GAP’s invitation, FMCSA presented an in depth Q&A session at the summer BISC meeting in June, to specifically assist bus operators. As of today, due to the hold up with the FY 2018 appropriations process, the December 17, 2017 date remains the compliance date.
4. Entry Level Driver Training
The only update to this rulemaking, which was finalized on December 8, 2016, was that the effective date was delayed several times to May 22, 2017, as a result of the USDOT regulatory review undertaken at the start of this administration. The compliance date remains February 7, 2020.
5. Obstructive Sleep Apnea
On March 10, FMCSA, jointly with the Federal Railroad Administration, published an advance notice of proposed rulemaking (ANPRM) seeking data on the prevalence of moderate-to-sever obstructive sleep apnea (OSA). As a result of the regulatory review undertaken by USDOT, this rulemaking was withdrawn on August 8, 2017.
6. Crash Preventability Program On July 12, 2016, FMCSA initially published a notice proposing a demonstration program to determine the efficacy of a program to conduct preventability determinations on certain types of crashes. GAP filed comments, based in industry input, opposing this initiative as it was drawn to narrow there is concern on how FMCSA may use crash data in the future in calculating SMS
83 scores. Nonetheless, on August 1, 2017, FMCSA initiated the demonstration program by permitting operators to submit information to challenge the determinations of preventability of crashes under certain criteria. The demonstration program is currently set to run for 2 years. 7. Military Licensing and State CDL Reciprocity On June 12, 2017, FMCSA issued an NPRM to allow waiver by State Driver License Agencies of the CDL knowledge test for qualified veterans and active duty personnel. Together with FMCSA’s action in 2012 to waive the CDL skills test, this waiver is intended to simplify processing and reduce costs for States and for qualified individuals, and facilitate transition of military to civilian service. GAP filed comments in support of this rule, with the caveat that requirements for CDL endorsements should not be waived and that driver records should reflect whether the CDL was obtained via waivers. 8. Commercial Learner's Permit Validity
On June 12, 2017, FMCSA issued an NPRM to allow States to issue a CDL learner’s permit with an expiration date of up to one year, replacing the current six-month limitation. The proposal could lead to flexibility, a reduction in paperwork and cost-savings. The GAP filed comments in support of the proposal, but raised concern that this action should not take the impetus off states to resolve their resource issues in terms of providing sufficient CDL testing opportunities.
9. Speed Limiters
A joint NPRM from FMCSA and NHTSA concerning speed limiters was published on September 7, 2016. GAP filed comments by deadline of December 7, 2016, taking a neutral position on this rulemaking however noting several technical concerns, and advocated for voluntary adoption. Recent reports indicate this rulemaking will be withdrawn by DOT, pursuant to the executive branch regulatory review.
10. CDL Qualifications for Drivers with Diabetes Mellitus
In May 2015, FMCSA issued an NPRM to permit drivers with stable, well-controlled insulin- treated diabetes mellitus (ITDM) to be qualified to operate commercial motor vehicles in interstate commerce. Based on industry input, GAP filed comments in opposition to this proposal. Nonetheless, the Agency appears to be moving forward with a proposal to attempt to mainstream drivers with ITDM. Per a notice published on July 27, 2017, FMCSA is seeking to change its previously proposed written notification from the treating clinician (TC) with a form to be completed by the TC and provided to the certified medical examiner, in anticipation of finalizing the May 2015 rule proposal. This form would be required for CMV ITDM drivers who wish to obtain a CDL. GAP will hold an open conference call to gather industry input to prepare comments for filing by the October 6, 2017, deadline.
11. New SMS Violations
On August 8, FMCSA announced on its website it was adding 12 violations to the CSA SMS to provide large truck and bus companies a more complete picture of their safety performance. The
84 update aligns with recent changes to FMCSA’s roadside inspection collection software and builds on efforts to continuously improve the consistency of data in the Agency’s systems. GAP included notice of FMCSA’s announcement and changes in ABA publications.
12. FMCSA Rulemaking Procedures
On August 7, 2017, FMCSA proposed to amend its rulemaking procedures by revising the process for preparing and adopting rules, petitions, and creating a new process to go directly to final rules. Also, the Agency is looking to add new definitions, and makes general administrative corrections throughout its rulemaking procedures. These proposed actions are mandated by the Fixing America’s Surface Transportation (FAST) Act. GAP will hold an open conference call to gather industry input to prepare comments for filing by the October 6, 2017, deadline.
13. IRS Valuation Discounts
On August 4, the Treasury Department/IRS issued an NPRM proposing to expand the regulations governing the valuation of interests in corporations and partnerships for estate, gift and generation- skipping transfer tax purposes. Citing the overwhelming amount of comments received on the proposal (GAP prepared and filed comments in opposition), the Obama Administration could not finalize the rule by January 20, when the new administration came into office. Working with the Family Business Coalition, in addition to the language included in the FY 2018 appropriations financial services bill, referenced above, GAP submitted comments in support of the IRS’s July interim report citing its intent to withdraw this rule. The IRS report was developed in response to the regulatory reform efforts directed by EO 13789.
14. DOL Overtime Rule
On May 23, 2016, the Department of Labor (DOL) published a final rule updating exemption requirements from overtime pay, in effect expanding the eligibility of employees (more than double the former pool) required to be paid overtime. The rule was to go into effect last December, but in advance of the date a federal judge in Texas enjoined the rule nationwide. After several requests for postponement by DOJ in the spring, the court finally issued a ruling on August 31 invalidating the rule. Nevertheless, per statements by Secretary Acosta during his nomination hearing, DOL is proceeding to initiate a new rulemaking to raise the thresholds. Toward this goal, DOL published a request for information concerning the proper level. The comment deadline September 25, and GAP intends to hold an open conference call to discuss input.
III. OPERATIONS
A. COUNCILS AND OTHER ASSOCIATION MEETINGS
1. Bus Industry Safety Council (BISC) and BISC West
The GAP team managed and conducted another successful BISC summer meeting on June 13-14, 2017, in Linthicum, MD. In preparation for the event GAP executed planning activities, including monthly calls with executive leadership and the individual standing committees; solicitation and
85 coordination of sponsors; development, publication and distribution of promotional materials; preparation of meeting materials; management of awards; lining up speakers; and running the event. There were 165 attendees at the summer meeting, who attended 18 safety sessions covering a range of topics. Additionally, GAP obtained two new sponsors, and had 9 exhibitors in attendance. The GAP staff also hosted Saucon Technologies for a users’ group meeting at BISC. Following the summer meeting, GAP staff again began managing multiple monthly meeting calls with the BISC executive committee and standing committees, in preparation for the BISC Winter meeting to be held on January 28-29, 2018, in conjunction with the ABA Annual Meeting and Marketplace, in Charlotte, NC. GAP also conducted a survey following the 2017 meeting to assist in planning future meetings. The summer meeting dates for BISC in 2018 were also secured, the summer meeting will again be held in Linthicum, MD, on June 26-27.
a. BISC West The GAP staff also prepared to hold the second “BISC West” meeting, in conjunction with the California Bus Association meeting on October 17, 2017, in Alpine, CA. GAP lined up speakers, and developed and distributed promotional materials for the event. Registration for the event opened in June.
2. Bus Industry Maintenance and Repair Council (BusMARC)
The GAP team also managed and conducted another successful BusMARC summer meeting, in conjunction with the BISC summer meeting in Linthicum, MD, on June 14-15, 2017. The meeting was held in partnership with Trailways, as a new initiative. Leading up to the meeting, similar to BISC, GAP staff engaged in a variety of preparatory activities. The summer meeting hosted 65 attendees and managed an offsite visit to 3 locations: Gunther Charters, Prevost and Maryland Scale House. Following the meeting, GAP conducted a survey to assist in planning future meetings, and began preparation for the Winter meeting, to be held on January 29-30, 2018, in Charlotte in conjunction with the ABA Annual Meeting and Marketplace. The summer meeting dates for 2018 were also secured, the summer meeting will be held jointly with BISC in Linthicum, MD, on June 27-28. The GAP staff also began exploring opportunities for hold BusMARC meeting independently in 2019, by issuing a request for proposals.
3. State/Regional Activities
The GAP staff continued supporting state and regional associations by conducting educational outreach activities, coordinating on both federal and local advocacy activities. GAP attended 4 state/regional association meetings, providing Washington updates. GAP also conducted its quarterly association call on July 12, 2017. Also, as part of a broader advocacy initiative in support of revising the FMCSA L&I rule, GAP coordinated with state/regional associations to conduct outreach to Congress and file comments, including holding a conference call, drafting up templates and providing guidance, for a comprehensive industry approach. As well, GAP supported several state/regional associations and members with local issues, including CBA’s ongoing issues with California airports, the Port Authority of New York and New Jersey’s terminal redevelopment initiative along with the Bus Association of New York and the Greater New Jersey Motorcoach Association, the City of Chicago’s new “party bus” ordinance, and nationwide support for emergency response efforts in the wake of Hurricane Harvey.
86 4. Coalitions
The GAP team also engaged in building and maintaining coalitions in support of ABA objectives. Through advocacy initiatives on various tour and travel initiatives, GAP strengthened its alliance with USTA and improved coordination between the two most recognized tour and travel associations in Washington, D.C. As well, GAP invested effort in strengthening its alliance with the American Trucking Association, with its new leadership. GAP also conducted a number of activities with its partners in the Family Business Coalition and Business Coalition for Fair Competition. GAP also joined and strengthened a coalition comprised of the Near Airport Parking Trade Industry and the Taxi, Limousine and Paratransit Association, created to advocate on behalf of surface transportation interests for airport access. We also joined the Prior Approval Reform Coalition, to fight for reform of the Federal Election Commission’s requirement for trade associations to obtain prior reauthorization for PAC solicitations. Finally, GAO recently joined the Data Access Coalition to advocate for protections on access to vehicle data.
B. MISCELLANEOUS
In addition to GAP activities reported above, the GAP team also conducted and/or participated in number of other meetings and activities in support of ABA goals and interests. Although not possible to capture all the activities GAP engages in on a day-to-day basis in support of ABA, the following provides a brief overview of some of the more notable activities.
1. Policy/Advocacy
In addition to the various activities already mentioned, GAP staff continued to engaged in a number of outreach activities both to Congress and the new administration. Since the last board meeting, GAP held over 50 meetings on Capitol Hill pursuing ABA policy objectives. We met with members of the House and Senate, as well as members/staff from the Transportation & Infrastructure Committee, Senate Commerce Committee, and both the House and Senate Appropriations Committees. We also engaged with members of the tax writing committees through BusPAC events and comment submissions. In addition to Congressional meetings, GAP also held several meetings/calls with the new FMCSA Chief Counsel and engaged with other FMCSA, DOT and OMB personnel, developing relationships within the new Administration. Over the course of the summer, GAP also successfully conducted outreach to the National Park Service (NPS), to establish and enhance ABA’s relationship with NPS, in the interest of tour and travel. In June, on behalf of ABA, I became a board member of Operation Life Saver, to maintain an ABA presence with other surface transportation modes on the rail safety organization. As well, in June, GAP worked with coalition partners to support Infrastructure Week, in conjunction with the Administration’s infrastructure investment interest. With travel and tourism coalition partners, GAP also worked on responding to the Administration’s EOs concerning the travel ban and visa program. GAP also attended various policy forums and coalition meetings, in support of ABA policy objectives. In July, GAP prepared and staffed the joint ABA-UMA policy meeting. In August, GAP supported Congresswoman Wagner’s (R-MO) human trafficking event, along with Greyhound, to highlight the industry efforts and concerns with this issue. As well, on an on-going basis, GAP provided support to ABA members concerning federal, state and local issues, as
87 needed. The GAP team also attended over 25 fundraising and meet/greet events with members of Congress.
2. Operations
Since the last ABA Board report, GAP staff remained very active in executing ABA government advocacy and policy operations. With a full complement of staff, ABA’s GAP operation was operating at full capacity. Beginning in May and over the course of the summer, GAP supported ABA’s strategic planning efforts, including participation in the strategic planning meeting in June. GAP has also supported the ABA initiative to develop and implement a new member database system. The GAP staff monitored federal agency activities, coordinated and solicited industry participation in security exercises, engaged in local planning activities with the D.C. metropolitan governments, assisted with the development and execution of various campaigns for seatbelt usage, promoted ABA’s new on-line entry-level driver training courses, and engaged with and participated in events with the Commercial Vehicle Safety Alliance. As well, the GAP team continued to draft and issue GAP monthly briefs, a detailed version for ABA Board distribution and a summarized version for general ABA distribution. GAP was also responsible for drafting and issuing various member alerts, to keep ABA members apprised of emerging issues and concerns. GAP also scheduled and conducted 4 open conference calls for related to regulatory actions, to gather input for development of comments. GAP staff also developed and presented a webinar on drivers and social media, and coordinated with the International Road Transport Union with the development of a P endorsement standard concerning bus fires. These activities occurred in addition to GAP providing day-to-day assistance to ABA members on such matters as BOC-3 filings, ADA questions.
C. BUSPAC
Currently, the BusPAC account balance stands at $217,974; with the return of Congress in September, this number will decrease as GAP is scheduled to participate in a number of BusPAC related events. Overall, despite of 2017 being an off-election year, BusPAC continues to receive numerous campaign event invitations. Year-to-date, GAP staff have attended 26 BusPAC supported events, in addition to several other non-BusPAC related, “meet & greet” Congressional events, continuing to broaden interest and support in the motorcoach, tour and travel industry. As well, in light of the high rate of staff turnover, GAP relies on these events to retain strong contacts with Congressional offices.
This year’s fundraising goal remains at $100,000, and the fund contributions so far in 2017 are currently at $59,000 – higher than last year at this time, but still well below are targeted goal. As well, the fund continues to receive staff contributions. Given that 2017 is not an election year coupled with a change in BusPAC staff, fundraising activities got off to a slow start earlier in the year. Following the first quarter, though, BusPAC solicitation and fundraising activities picked up with strong support from ABA’s new Communications Legislative and Communications Associate/PAC Administrator, Brad Tucker, and aggressive engagement by BusPAC Chairman Peter Picknelly. Key events were the spring board meeting and fly-in, in addition to ongoing outreach to BusPAC’s solicitable class. As well, the reformatted BusPAC board outreach initiative to increase participation, known as the BusPAC Ambassador campaign is slowly taking shape. As
88 well, GAP worked on developing a new strategy for targeting solicitation authorizations; continuing publication of the BusPAC brief (4th edition); exploring revisions to new member ABA member BusPAC outreach; and executing a solicitation authorization and fundraising email campaign. BusPAC activities in support of the annual ABA fly-in are also underway, with the designation of a venue and ideas for the event under development, to hold in conjunction with the May 2018 fly-in.
Finally, ABA joined the Prior Approval Reform Coalition (PARC), which bring together many of the nation’s top trade association stakeholders to fight for reform the Federal Election Commission’s requirement for trade association PACs to obtain separate and specific approval from their member corporations before soliciting.
Please do not hesitate to contact me regarding any of the information provided in this report.
Attachments: Nominations List CTP’s Tax Reform Status
89 Nominations/Appointments – Trump Administration
Congress and the Administration continue to make slow progress on nominations to fill presidentially appointed positions for executive branch agencies, an updated list of nominations/confirmations at agencies are as follows:
OMB Director: Mick Mulvaney – confirmed February 16 Deputy Director: Russell Vought – awaiting Senate vote Administrator, Office of Information and Regulatory Affair: Neomi Rao – confirmed July 10
USDOT Secretary: Elaine Chao – confirmed on Jan. 31 Deputy Secretary: Jeffrey Rosen – confirmed on May 16 General Counsel: Steven G. Bradbury – awaiting Senate vote Under Secretary of Transportation Policy: Derek Kan – awaiting Senate vote Assistant Secretary for Governmental Affairs: Adam J. Sullivan – awaiting Senate vote Administrator, Maritime Administration: Mark H. Buzby – confirmed August 3 Administrator, Federal Railroad Administration: Ronald L. Batory – awaiting Senate vote Administrator, Federal Highway Administration: Paul Trombino III – nominated September 11 Administrator, Pipeline and Hazardous Materials Safety Administration: Howard “Skip” Elliott – confirmed on Oct. 6 Administrator, Federal Motor Carrier Safety Administration: Raymond P. Martinez – nominated September 26
USDHS Secretary: VACANT, Elaine C. Duke Acting Deputy Secretary: Elaine C. Duke – confirmed April 4 General Counsel: John Marshall Mitnick – awaiting Senate vote Assistant Secretary/Administrator, TSA: David P. Pekoske – confirmed August 3 Administrator, FEMA: Brock Long – confirmed June 20
USDOL Secretary: Alexander Acosta – confirmed April 27 Deputy Secretary: Patrick Pizzella – awaiting committee vote Administrator, Wage and Hour Division – Cheryl Marie Stanton – nominated September 2
USTreasury Secretary: Steve Mnuchin – confirmed February 13 Deputy Secretary: VACANT General Counsel: Brent J. McIntosh – confirmed August 3 Assistant Secretary for Tax Policy: David J. Kautter – confirmed August 3
USCommerce Secretary: Wilbur Ross – confirmed February 27 Deputy Secretary: VACANT
90 EPA Administrator: Scott Pruitt – confirmed February 17
Other Noteworthy Positions Attorney General: Jeff Sessions – confirmed February 8 Chairman, NTSB: Robert Sumwalt, III – confirmed August 3 Vice Chairman, NTSB: Bruce Landsberg – nominated September 15
91 State of Play on Tax Reform
With the Senate’s failure to pass Affordable Care Act repeal and replace legislation, tax reform efforts became more urgent for the Trump Administration and Republican leadership as they seek a major legislative victory before the 2018 midterm elections. To avoid a similar fate as health care reform, however, the level of ambition may need to shrink for tax reform, as the margin for error is small. For example, last month, the Gang of Six1 put out a set of principles for tax reform (discussed below) that finally pulled the plug on the House Republican Blueprint’s proposed border tax adjustments (BAT) because “there are many unknowns associated with it” (i.e., the proposal lacked the votes for passage in the Senate and possibly the House as well). Many members of the Gang of Six took to the road in August to promote tax reform, setting up possible action this fall.
Likely Timing of Tax Reform. The Gang of Six may release an outline or framework for tax reform (a 3 to 5 page document) in early to mid-September, but action on proposed tax reform legislation will likely have to wait the completion of other legislation.
First, several must-pass pieces of legislation await Congress when they return from August recess that must be addressed before the end of September,2 including: • Extension of the Federal debt limit; • Appropriation bills or a continuing resolution to keep the government running; • Extension and potential reform of FAA funding; • Flood insurance reform; and • Extension of the children’s health insurance program (CHIP).
Second, Republican leaders have said they intend “to go it alone” on tax reform without Democratic support. To do this, they will need to pass a FY 2018 budget resolution providing reconciliation instructions for tax reform.3 This will provide process protections in the Senate, limiting time for debate and allowing them to pass tax reform with a simple majority vote in the Senate. Passage of a FY 2018 resolution will not be easy and is likely to take some time because of various intraparty conflicts that are likely to arise among House and Senate Republicans. The House Budget Committee has favorably reported a budget that should be on the House floor the second week of September. Majority Leader McConnell has said he wants the Senate to take up the budget in September; many are skeptical this can happen.
Third, Republican leaders may determine it is advantageous to complete the tax bill next year to claim credit for a major accomplishment (and provide certain benefits to taxpayers) right before the election.
Fourth, it is important to note that, while the BAT has been the most controversial issue to date, other proposed features of tax reform (e.g., limiting interest deductibility or eliminating the state
1 The Gang of Six is comprised of: Treasury Secretary Mnuchin, National Economic Council Director Cohn, House Speaker Ryan, Ways & Means Committee Chairman Brady, Senate Majority Leader McConnell, and Finance Committee Chairman Hatch. 2 There are only 12 legislative days in September. 3 Procedurally, mark up tax reform legislation can be marked up without a budget reconciliation instruction. Any favorably reported legislation would then have to be modified to meet the targets in the instruction.
92 and local tax deduction) could raise controversy and slow the process down. Controversial revenue offsets are difficult because the margin for error in both the House and Senate under a “go it alone” reconciliation approach is small.
Finally, the Republican plan to “go it alone” may require that they complete (or give up) work on health care reform before turning to tax reform. Passage of a new budget resolution for tax reform likely would turn off the previous budget resolution under which health care reform is being processed. It is not yet clear that House Republicans or the Trump Administration are willing to move on and abandon health care reform efforts.
As of today, the anticipated scenario is a mark-up in the House Ways and Means Committee in October, with the hope of Senate action in November. Many believe Senate action will be much later, perhaps into 2018.
Gang of Six “Unity” Approach. The Gang of Six has been meeting regularly to develop a “unity bill” in an effort to avoid the problems they encountered with health care reform. Last month, they put out a joint statement that sets forth a few principles for tax reform, but otherwise offers little detail. The principles are: • Lower tax rate for small businesses (so they can compete with larger ones); • Lower tax rate for U.S. businesses (so they can compete with foreign ones); • Allow “unprecedented” capital expensing; • Lower tax rates as much as possible; • Create a system that encourages U.S. companies to bring jobs and profits back from overseas; and • Not to include a BAT.
They also said they would like to proceed through regular order (presumably, mark-ups in the tax- writing committees, opportunities for amendments, a conference committee, etc.).
While no framework or outline has been released yet, we believe the Gang of Six is likely to adopt an approach similar to former Chairman Camp’s tax reform bill that will reduce rates, provide partial (e.g., 50%) expensing for capital investment, broaden the tax base, and adopt a territorial system with some form of deemed repatriation toll charge and a minimum tax to prevent base erosion. Because of Chairman Hatch’s interest in corporate integration, the proposal may also include a partial dividends-paid deduction.
Because they intend to rely on dynamic scoring and use of a current policy baseline, they have greater “headroom” than former Chairman Camp did in crafting a “deficit-neutral” tax reform package. However, they will still need significant offsets and are searching for alternatives to replace the significant revenue raised from the BAT. This means almost anything could be in play, including various items from former Chairman Camp’s discussion draft (e.g., deferral of advertising or R&E expense), and revising retirement and fringe benefit rules.
Also, based on recent conversations, we understand they are considering a percentage haircut on interest deductibility and/or a thin capitalization rule that would limit the deductibility of interest exceeding certain thresholds (e.g., 30% of EBITDA). Whether they will provide grandfather relief for existing debt or a phase-in of the haircut is still uncertain. However, because they are only considering a partial haircut rather than a complete disallowance of interest as under the House
93 Republican Blueprint, some policymakers are arguing that grandfather relief is less needed. Also, the decision to provide grandfather relief will necessarily depend on revenue considerations.
There also is no agreement yet as to whether the tax reform bill will be fully offset. While the principles released by the Gang of Six last month say they have placed a priority on permanence, Treasury Secretary Mnuchin has said that the Administration will be happy with a temporary bill if that is all that is achievable politically. The budget reconciliation rules require that a bill cannot add to the deficit in the out years. This determination is made on a title-by-title basis. Thus, some provisions could be made permanent (if offset), while others would have to be sunset.
94
American Bus Association Finance and Budget
Financial and Administrative Report – Eight Months Ended August 31, 2017
The following report provides financial highlights for the eight months ending August 31, 2017. The report provides information to the board and other interested parties on the financial position of the Association. In addition to describing the financial condition of the Association, this report is intended to highlight variances between actual results and budgeted amounts, and in some cases to prior year actual results. The ending operating cash balance at August 31, 2017, totals $1,607,000, versus $1,547,000 from one year ago. ABA’s reserve account balance totaled $4,723,000, versus $4,373,000 from a year ago, representing an increase of $350,000, or approximately 8.0%. ABA transferred $100,000 from the operating account to the TD Private Client Wealth reserve account on April 14, 2017. This is the 6th consecutive year ABA has contributed $100,000 to the reserve fund in its effort to replenish the funds used to purchase its office condominium where it is currently located. As presented at the 2017 ABA Spring Board meeting, ABA is in the process of transitioning to a new Association Management System (AMS). Since the Spring ABA Board meeting, staff met with three AMS providers and has decided to move forward with Impexium. The costs involved with switching to the new software provider are made up of one-time implementation costs, as well as an annual subscription to use the software. The one-time implementation costs, which will be capitalized, are estimated to be $164,000. These costs will be amortized over a three-year period, and an appropriate amount has been included in the 2018 Draft Budget, within the depreciation line item in the General & Administration department. The annual subscription costs to use the software will be $79,000 per year, and have been included in the 2018 Draft Budget within the computer services line item of the Membership Services department.
REVENUE
Membership - Membership revenue as of August 31, 2017, totaled approximately $1,651,000 compared to $1,611,000 as of August 31, 2016, representing an increase of approximately 2.5%. Below is a breakdown by category of membership revenue:
AUGUST BUDGET AUGUST 2017 2017 2016 Membership Operator Dues $ 348,000 $ 360,000 $ 314,000 Associate Dues 66,000 60,000 63,000 Travel Industry Dues 1,140,000 1,225,000 1,144,000 Tour Operator Dues 97,000 80,000 90,000 1,651,000 1,725,000 1,611,000
95 The increase is due in part to the Operator and Tour Operator segments. Dues payments for these categories have been received earlier than in the prior year due to the timing of invoices sent out this year. Invoices were sent out approximately one month earlier in 2017.
Meetings - ABA Marketplace makes up most of the Meetings & Conferences revenue in the budget. As of August 31, 2017, revenue associated with Marketplace totaled $3,330,000 compared to $3,137,000 as of August 31, 2016, an increase of 6%. There are a few remaining registrations outstanding which will add to total revenue in 2017 as we receive payments. Total revenue is approximately $70,000 above its budgeted amount of $3,260,000.
Publications - As of August 31, 2017, revenue associated with ABA Publications totaled approximately $400,000 compared to $515,000 in the prior year. Below is a breakdown by category of publications revenue:
AUGUST BUDGET AUGUST 2017 2017 2016 Publications Destinations $ 287,000 $ 683,000 $ 410,000 Motorcoach Marketer 6,700 250,000 3,000 Marketplace Today 50,500 50,000 46,000 ABA Insider/MTN/Web 52,000 120,000 55,000 396,000 1,103,000 514,000
ABA switched publishers beginning in January 2017. As a result, ad sales for Destinations have been lower than originally budgeted for, and less than the prior year. In addition, ABA has experienced and overall decline in its publications which rely on print advertising, specifically in Destinations magazine and the annual membership listing Motorcoach Marketer. Most of Motorcoach Marketer revenue will be recognized in December, when it is published. Motorcoach Marketer revenue is expected to be between $200,000-250,000.
EXPENSE
Government Affairs - As of August 31, 2017, expenses are $1,218,000 compared to 1,287,000 in the prior year, representing a decrease of approximately $69,000, or 17%. The decrease is due to lower costs incurred for lobbying and legal expenses in 2017 compared to 2016. Currently, ABA has one lobbyist on retainer at $5,000 per month. In 2016, ABA had two lobbyists on retainer with a cost of $22,500 per month.
BISC/BusMARC – As of August 31, 2017, expenses are $95,000 compared to $70,000 in the prior year, representing an increase of $25,000. The main reason for the increase, which was not included in the 2017 budget, is due to the costs for the entry-level driving training program developed in conjunction with The Alliance Safety Council. The costs for the development were $20,000, and are included in the consulting services line item in the BISC/BusMARC department. This program is sponsored by Prevost, and ABA will be
96 receiving $20,000 from them to offset the cost of development. Once ABA receives the funds, it will be reflected in the Miscellaneous Income section of the Statement of Activities.
Membership Services – Expenses for Membership Services are $491,000 versus $404,000, an increase from the prior year of approximately $87,000, or 21%. The increase is related to the new Association Management System. ABA hired a consultant to assist staff with determining which system would be best for ABA and its members. The total for these services was $33,000 and is in the consulting services line item. The other costs causing the increase are the subscription expenses associated with the new software. These total approximately $60,000, and are in the computer services line item.
Marketplace – Expenses for Marketplace are $1,430,000, versus $1,190,000 in 2016, an increase from the prior year of approximately $240,000, or 20%. The reason for the increase is due in part to higher overall costs for the following items at Marketplace:
AUGUST BUDGET AUGUST 2017 2017 2016
Function Costs 219,000 179,000 207,000 Audio Visual 310,000 242,500 221,000 Decorating 295,000 210,000 187,000 Speakers 82,000 60,000 66,000 906,000 691,500 681,000
The above expenses are largely driven by the venue in which Marketplace is held each year. These costs were higher than originally anticipated when preparing the 2017 budget, and were also higher than the prior year. The budgeted net income for Marketplace 2017 is $1,694,000. It is estimated the actual net income for the year will be $1,674,000, approximately $20,000 lower than budget.
Board of Directors - Expenses for Board of Directors are $226,000 versus $161,000, an increase from the prior year of approximately $65,000, or 41%. The increase is related to an increase in salaries allocated to this department, consulting services and meetings & conferences. The increase in salaries is not due to an additional employee, but the amount of time staff has spent on this department versus ABA’s other departments compared to the prior year. Consulting services of $30,000 are related to a facilitator who was hired to assist ABA with a strategic planning meeting held in June. Finally, the costs to hold the strategic meeting in Baltimore also contributed to the increase in expenses from the prior year. These costs totaled $20,000, and are in the meetings and conferences line item.
Publications – Expenses for Publications are $424,000, versus $557,000 in 2016. One reason for the decrease is due to discontinuing Equip Magazine and Motorcoach Travel News which generated $41,000 in expenses in 2016, and none in 2017. Second, the management fees charged by the new publisher are lower than the previous publisher. Finally, due to the decrease in revenue in 2017, there have been no estimated taxes paid as in
97 prior years, as we don’t expect to have an income tax liability at year end. Below is a breakdown by category of publications expense:
AUGUST BUDGET AUGUST 2017 2017 2016
Destinations $ 320,000 $ 645,000 $ 400,000 Motorcoach Marketer 4,000 133,000 32,000 Marketplace Today 50,000 46,000 48,000 ABA Insider 50,000 73,000 36,000 Equip/MTN 0 0 41,000
424,000 897,000 557,000
98 American Bus Association Reserve Holdings as of 8/31/2017
Current ABA Reserve IPS Asset Class Market Value Allocation Allocation Ranges Money Market (Cash) $ 74,576.00 1.6% Cash 0-15% Total Money Market $ 74,576.00 1.6% Large Cap Portfolio $ 1,934,819.00 41.0% Small/Mid Cap $ 323,424.00 6.8% International Emerging Markets $ 69,754.00 1.5% International $ 391,961.00 8.3% Total Equity $ 2,719,958.00 57.6% Equities 35-65% Long Bond $ - 0.0% Short Bond $ 1,928,112.00 40.8% Intermediate Bond Portfolio $ - 0.0% Other 0.0% Total Fixed Income $ 1,928,112.00 40.8% Fixed Income 35-65%
Total $ 4,722,646.00 100.0%
Allocation as of Aug 31, 2017 Intermediate Bond Other , 0.0% Portfolio, 0.0% Money Market (Cash), 1.6%
Short Bond, 40.8% Large Cap Portfolio, 41.0%
International Emerging Small/Mid Cap, 6.8% International, 8.3% Markets, 1.5%
Confidential 99
AMERICAN BUS ASSOCIATION
UNAUDITED FINANCIAL STATEMENTS
FOR THE 8 MONTHS ENDED AUGUST 31, 2017
& 2018 DRAFT BUDGET
100 Contents Page
Financial Statements
Statement of Financial Position 102
Statement of Activities (including 2018 Draft Budget) 103
Statement of Cash Flows 105
Notes to Financial Statements 106
Statement of Activities (With quarterly budget comparison) 109
Departmental Expense Breakdown by Category (including 2018 Draft Budget) Summary of All Departments 111 Government Affairs & Policy 112 Bus Industry Safety Council 113 Website 114 Communications & Marketing 115 Membership Services 116 Marketplace 117 Board of Directors Meetings 118 CTIS Program 119 Destinations 120 Motorcoach Marketer 121 Marketplace Today 123 ABA Insider 124 Equip Magazine 125 Motorcoach Travel News 126 General & Administration 127
101 AMERICAN BUS ASSOCIATION STATEMENT OF FINANCIAL POSITION AUGUST 31, 2017
AUGUST AUGUST 2017 2016
ASSETS Current Assets Cash & Equivalents (Note 1) $ 1,695,988 $ 1,638,349 Accounts Receivable (Note 2) 59,149 113,113 Prepaid Expenses (Note 7) 187,000 73,272 Investments (Note 6) 4,635,045 4,282,327 Total Current Assets $ 6,577,181 $ 6,107,061
Property & Equipment (Note Furniture & Equipment 799,987 601,437 Office Condominium - 111 K Street 5,516,743 5,516,743 Less: Accumulated Depreciation 1,410,387 1,213,420 Net Property & Equipment $ 4,906,343 $ 4,904,760
Other Assets Deferred Compensation Assets - 457 Plan (Note 9) 523,418 406,200 Deposits 14,176 - Total Other Assets $ 537,594 $ 406,200
Total Assets $ 12,021,118 $ 11,418,021
LIABILITIES & NET ASSETS Current Liabilities Accounts Payable $ 103,747 $ 51,584 Accrued Expenses 113,172 148,625 Deferred Revenue (Note 3) 1,793,291 1,590,612 Total Current Liabilities $ 2,010,209 $ 1,790,821
Long Term Liabilities Deferred Compensation Liability - 457 Plan (Note 9) 523,418 406,200 Subtenant Furniture Lease Liability 41,200 3,547 Mortgage Payable - 111 K Street 3,173,888 3,289,981 Total Long Term Liabilities $ 3,738,506 $ 3,699,728
Net Assets Unrestricted 6,272,403 5,927,472
Total Liabilities and Net Assets $ 12,021,118 $ 11,418,021
102 AMERICAN BUS ASSOCIATION STATEMENT OF ACTIVITIES FOR THE 8 MONTHS ENDED AUGUST 31, 2017 & 2018 DRAFT BUDGET
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
REVENUE
Membership Operator Dues $ 360,000 $ 348,280 $ 360,000 $ 313,783 $ 346,610 $ 350,000 Associate Dues 60,000 65,784 60,000 63,385 63,910 55,000 Travel Industry Dues 1,225,000 1,140,420 1,225,000 1,143,694 1,164,694 1,150,000 Tour Operator Dues 80,000 97,014 80,000 90,238 95,088 85,000 $ 1,725,000 $ 1,651,497 $ 1,725,000 $ 1,611,100 $ 1,670,302 $ 1,640,000
Meetings & Conferences Marketplace $ 3,410,000 3,329,521 3,260,000 3,135,014 3,136,739 3,239,500 Bus Industry Safety Council/BusMARC 70,000 39,800 65,000 43,550 58,900 83,000 $ 3,480,000 $ 3,369,321 $ 3,325,000 $ 3,178,564 $ 3,195,639 $ 3,322,500
Publications Destinations $ 601,000 286,590 683,000 410,068 646,627 671,200 Motorcoach Marketer 225,000 6,675 250,000 2,785 232,177 272,000 Marketplace Today 50,000 50,557 50,000 46,281 46,281 60,000 ABA Insider/MTN/Buses.org 99,000 52,283 120,000 50,599 87,839 156,000 Equip Magazine - - - 4,548 12,096 46,675 $ 975,000 $ 396,104 $ 1,103,000 $ 514,281 $ 1,025,020 $ 1,254,875
Other Income Contract Services (Note 5) $ 92,500 79,900 140,000 82,577 127,657 138,700 Rental Income from Office Lease 125,775 74,621 100,000 67,464 101,196 101,200 Miscellaneous (Note 8) 134,250 94,521 74,000 73,952 99,736 75,300 $ 352,525 $ 249,042 $ 314,000 $ 223,993 $ 328,590 $ 315,200
Total Revenue from Operations $ 6,532,525 $ 5,665,964 $ 6,467,000 $ 5,527,938 $ 6,219,551 $ 6,532,575
103 AMERICAN BUS ASSOCIATION STATEMENT OF ACTIVITIES (CONTINUED) FOR THE 8 MONTHS ENDED AUGUST 31, 2017 & 2018 DRAFT BUDGET
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
EXPENSES
Government Affairs & Policy $ 1,218,007 $ 700,657 $ 1,286,560 $ 844,430 $ 1,234,061 $ 1,258,198 BISC/BusMARC 80,200 94,859 80,000 69,355 71,035 119,550 Website 24,138 21,019 27,900 14,093 20,065 31,000 Communications & Marketing 347,184 207,613 331,573 201,230 299,397 319,318 Membership Services 623,291 491,280 538,380 404,480 571,920 509,324 Marketplace 1,678,328 1,429,792 1,566,330 1,190,451 1,416,193 1,563,746 Board of Directors Meetings 266,522 226,273 194,937 160,622 227,377 177,631 CTIS Program 5,350 6,239 3,100 3,305 3,393 3,400 Destinations 513,461 319,763 644,974 400,260 624,530 652,731 Motorcoach Marketer 125,936 4,155 133,516 31,961 134,694 127,482 Top 100 Events - - - 527 527 60,693 Marketplace Today 55,000 49,967 46,410 48,304 48,304 54,346 ABA Insider 90,936 50,486 72,667 35,946 62, 251 79,811 Equip Magazine - - - 40,320 57,753 66,125 Motorcoach Travel News - - - 308 4,037 17,000 General & Administration 1,437,921 970,420 1,327,020 956,546 1,316,632 1,286,428
Total Expenses $ 6,466,274 $ 4,572,523 $ 6,253,367 $ 4,402,138 $ 6,092,169 $ 6,326,783
Net Operating Income/(Loss) 66,251 1,093,441 213,633 1,125,800 127,383 205,792
GroupConnect - - - - - (25,000) Investment Income (Net of Investment Fees) 200,000 83,699 200,000 33,997 66,248 200,000 Unrealized & Realized Gains (Losses) - 229,555 - 73,617 8,140 -
Net Income/(Loss) $ 266,251 $ 1,406,695 $ 413,633 $ 1,233,414 $ 201,771 $ 380,792
104 AMERICAN BUS ASSOCIATION STATEMENT OF CASH FLOWS AUGUST 31, 2017 AUGUST 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Change in net assets 1,406,695
Adjustments to reconcile change in net assets to net cash (used in) provided by operating activities:
Depreciation and amortization 147,342 Unrealized (appreciation)/ depreciation on investments (185,358) Realized (gain)/loss on sale of investments (44,197) (Increase) decrease in allowance for doubtful receivables Changes in assets and liabilities: (Increase) / Decrease in accounts receivable 244,631 (Increase) / Decrease in interest receivable - (Increase) / Decrease in prepaid expenses 245,969 Increase / (Decrease) in accounts payable 24,731 Increase / (Decrease) in accrued expenses 2,133 Increase / (Decrease) in deferred revenue (2,073,706)
Net cash (used in) / provided by operating activities (231,760)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment (197,028) Purchase of investments (883,470) Proceeds from sale of investments 744,851 (Increase) / decrease in deposits (13,176)
Net cash (used in) / provided by investing activities (348,823)
CASH FLOWS FROM FINANCING ACTIVITIES
Subtenant Furniture Lease Liability (3,521) Mortgage Payable - 111 K Street (82,457)
Net cash (used in) / provided by fianancing activities (85,978)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (666,560)
Cash and cash equivalents at beginning of period (01/01/2017) 2,362,548
Cash and cash equivalents at end of period 1,695,988
105 AMERICAN BUS ASSOCIATION NOTES TO FINANCIAL STATEMENTS FOR THE 8 MONTHS ENDED AUGUST 31, 2017
Note 1 - Cash & Cash Equivalents The following is a breakdown of the cash accounts: Aug-17 Aug-16 Petty Cash Fund $ 500 $ 500 Cash & Cash Equivalents 1,607,888 1,547,439 Investment Reserve Money Market Accounts 87,600 90,410
Total $ 1,695,988 $ 1,638,349
Note 2 - Accounts Receivable The following is a breakdown of accounts receivable: Aug-17 Aug-16 Destinations/Insider $ - $ 95,266 Motorcoach Marketer - - Less Reserve for Uncollectible Accounts (15,000) (15,000) Marketplace 2,395 6,580 BISC Sponsors 30,000 - Foundation 5,724 - NBTA 18,328 17,595 GroupConnect - - Miscellaneous 17,221 8,100 Employees 481 572
Total $ 59,149 $ 113,113
Note 3 - Deferred Revenue The following is a breakdown of deferred revenue: Aug-17 Aug-16 BISC $ - $ - Miscellaneous 10,162 - Marketplace 1,556,070 1,392,889 Membership Dues 227,059 $ 197,723
Total $ 1,793,291 $ 1,590,612
Note 5 - Service Income The National Bus Traffic Association, Skal USA and Florida Motorcoach Association have contracted with ABA to provide them with various administrative, financial and accounting services. Professional services are billed to these entities monthly, based on salary and fringe benefit costs associated with staff time charged to NBTA activities, or based on a contracted rate for Skal USA and Florida Motorcoach Association.
106 AMERICAN BUS ASSOCIATION NOTES TO FINANCIAL STATEMENTS (CONTINUED) FOR THE 8 MONTHS ENDED AUGUST 31, 2017
Note 6 - Investments
The following is a breakdown of reserve fund investments: Aug-17
Cost Market Value TD Reserve Fund Investments $ 4,509,141 $ 4,635,045 Investment in GroupConnect 499,000 -
Total $ 5,008,141 $ 4,635,045
Aug-16
Cost Market Value TD Reserve Fund Investments $ 4,266,998 $ 4,282,327 Investment in GroupConnect 499,000 -
Total $ 4,765,998 $ 4,282,327
Note 7 - Prepaid Expenses The following is a breakdown of prepaid expenses:
Aug-17 Aug-16 Prepaid Expense-Other $ 111,440 $ 7,540 Prepaid Insurance 26,707 27,607 Marketplace 48,853 38,125
Total $ 187,000 $ 73,272
Note 8 - Miscellaneous Income The following is a breakdown of miscellaneous income:
Aug-17 Aug-16 Affinity Programs $ 74,959 $ 36,428 Hours of Service Cards/Passenger Safety Materials 514 705 CTIS Registrations 2,350 2,750 Label Sales 1,775 3,450 Miscellaneous 14,923 30,619
$ 94,521 $ 73,952
Note 9 - Deferred Compensation - 457 Plan The American Bus Association maintains a nonqualified deferred compensation plan through The Principal Financial Group. Employees may elect to defer salary for retirement.
107 AMERICAN BUS ASSOCIATION NOTES TO FINANCIAL STATEMENTS (CONTINUED) FOR THE 8 MONTHS ENDED AUGUST 31, 2017
Note 10- Property and Equipment
The association depreciates its property over useful lives determined by property type. Below is a schedule showing the various years the property and equipment is depreciated over.
Building 40 Years Furniture 10 Years Phone Equipment 10 Years Computer Equipment 3 Years
108 AMERICAN BUS ASSOCIATION STATEMENT OF ACTIVITIES FOR THE 8 MONTHS ENDED AUGUST 31, 2017
TOTAL BUDGET TOTAL BUDGET TOTAL BUDGET TOTAL BUDGET YTD BUDGET 1st QTR 17 1st QTR 17 2nd QTR 17 2nd QTR 17 3rd QTR 17 3rd QTR 17 4th QTR 17 4th QTR 17 2017 2017
REVENUE
Membership Operator Dues 184,081 180,000 119,601 180,000 44,599 - - - 348,280 360,000 Associate Dues 53,884 45,000 10,450 15,000 1,450 - - - 65,784 60,000 Travel Industry Dues 1,039,188 1,102,500 73,676 61,250 27,556 30,625 - 30,625 1,140,420 1,225,000 Tour Operator Dues 51,970 40,000 31,174 40,000 13,870 - - - 97,014 80,000 1,329,122 1,367,500 234,901 296,250 87,475 30,625 - 30,625 1,651,497 1,725,000
Meetings & Conferences Marketplace 3,283,629 3,260,000 38,157 - 7,735 - - - 3,329,521 3,260,000 Bus Industry Safety Council/BusMARC 32,800 32,500 2,000 - 5,000 32,500 - - 39,800 65,000 3,316,429 3,260,000 38,157 - 7,735 - - - 3,369,321 3,325,000
Publications Destinations 187,723 204,900 49,526 136,600 49,341 170,750 - 170,750 286,590 683,000 Motorcoach Marketer 2,509 - 2,086 - 2,080 - - 250,000 6,675 250,000 Marketplace Today 50,557 50,000 ------50,557 50,000 Top 100 Events ------ABA Insider/MTN/Buses.org 29,588 30,000 12,725 30,000 9,970 30,000 - 30,000 52,283 120,000 Equip Magazine ------270,376 284,900 64,338 166,600 61,391 200,750 - 450,750 396,104 1,103,000
Other Income Contract Services 27,309 35,000 29,379 35,000 23,211 35,000 - 35,000 79,900 140,000 Rental Income from Office Lease 26,179 25,000 28,393 25,000 20,049 25,000 - 25,000 74,621 100,000 Miscellaneous 20,084 18,500 49,517 18,500 24,920 18,500 - 18,500 94,521 74,000 73,572 73,572 78,500 107,289 78,500 68,180 78,500 - 78,500 249,042 314,000
Total Income From Operations 4,989,500 4,990,900 444,684 541,350 224,780 309,875 - 559,875 5,665,964 6,467,000
109 AMERICAN BUS ASSOCIATION STATEMENT OF ACTIVITIES (CONTINUED) FOR THE 8 MONTHS ENDED AUGUST 31, 2017
TOTAL BUDGET TOTAL BUDGET TOTAL BUDGET TOTAL BUDGET YTD BUDGET 1st QTR 17 1st QTR 17 2nd QTR 17 2nd QTR 17 3rd QTR 17 3rd QTR 17 4th QTR 17 4th QTR 17 2017 2017
EXPENSES
Government Affairs 263,786 321,640 243,226 321,640 193,645 321,640 - 321,640 700,657 1,286,560 Bus Industry Safety Council 30,141 40,000 30,495 - 34,223 - - 40,000 94,859 80,000 Website 11,567 6,975 5,379 6,975 4,073 6,975 - 6,975 21,019 27,900 Communications & Marketing 87,132 82,893 63,752 82,893 56,729 82,893 - 82,893 207,613 331,573 Membership Services 169,033 134,595 223,714 134,595 98,533 134,595 - 134,595 491,280 538,380 Marketplace 1,198,068 1,174,748 149,692 78,317 82,032 156,633 - 156,633 1,429,792 1,566,330 Board of Directors Meetings 42,130 64,979 163,183 64,979 20,960 64,979 - - 226,273 194,937 CTIS Program 6,239 3,100 ------6,239 3,100 Destinations 144,951 193,492 114,845 128,995 59,967 161,244 - 161,244 319,763 644,974 Motorcoach Marketer 948 - 2,519 - 688 - - 133,516 4,155 133,516 Marketplace Today 49,967 46,410 ------49,967 46,410 ABA Insider 17,425 18,167 20,103 18,167 12,958 18,167 - 18,167 50,486 72,667 Equip Magazine ------Motorcoach Travel News ------General & Administration 348,324 331,755 317,693 331,755 304,403 331,755 - 331,755 970,420 1,327,020
Total Expenses 2,369,710 2,418,754 1,334,602 1,168,315 868,211 1,278,881 - 1,387,418 4,572,523 6,253,367
Excess of Revenues over Expenses 2,619,789 2,572,146 (889,917) (626,965) (643,431) (969,006) - (827,543) 1,093,441 213,633
Investment Income 18,682 50,000 23,699 50,000 41,318 50,000 - 50,000 83,699 200,000 Unrealized & Realized Gains (losses) 130,287 - 64,432 - 34,836 - - - 229,555 -
Net Revenues Over Expenses 2,768,758 2,622,146 (801,786) (576,965) (567,277) (919,006) - (777,543) 1,406,695 413,633
110 AMERICAN BUS ASSOCIATION SUMMARY OF ALL DEPARTMENTS
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Salaries $2,078,236 $1,363,028 $2,010,273 $1,291,837 $1,888,150 $2,013,607 Fringe Benefits 597,713 395,583 571,136 338,883 496,137 526,324 Temporary Help 12,000 803 16,000 31,922 32,497 12,000 Postage 66,050 32,376 56,318 29,881 58,887 70,200 Educational Assistance 5,000 7,392 5,000 2,042 2,461 5,000 Recruitment 0 778 0 10,392 10,392 0 Mailing&Handling 6,500 1,175 6,750 5,900 5,900 1,800 Advertising 5,000 308 0 0 2,000 5,000 Printing 165,500 71,665 139,743 70,267 126,388 156,839 Photo Services 33,000 11,992 20,000 15,500 18,777 40,500 Duplicating 15,150 6,617 15,750 9,058 15,212 17,800 Telephone 27,500 22,631 27,750 23,030 35,850 32,700 Computer Services 183,900 144,795 113,734 73,694 111,046 87,024 Consulting Services 290,000 182,500 267,800 267,683 376,047 305,000 90th Anniversary 0 0 0 366 366 0 Parking 0 20 0 0 0 0 Contributions 8,750 11,750 6,250 10,750 10,750 1,250 Dues&Subscriptions 95,526 75,868 102,365 62,708 87,871 88,775 Travel 143,100 98,144 159,100 106,384 145,618 144,250 Member travel 73,000 45,967 85,000 49,994 70,705 115,000 Travel-Chairman 10,000 4,861 7,000 6,352 9,709 5,000 Local Expense 5,000 2,475 5,000 1,915 3,360 3,700 Insurance 49,000 47,749 49,000 45,062 45,062 45,500 Legal Services 122,000 54,165 221,500 88,698 151,215 143,500 Meetings&Conferences 164,100 82,980 127,100 74,063 80,663 106,350 Function Costs 326,500 337,309 299,200 304,693 323,844 376,750 Audio Visual 346,000 358,199 290,000 273,021 289,023 275,500 Security 8,500 0 0 962 962 8,500 Decorating 226,100 301,167 213,000 190,647 191,177 211,000 Entertainment 2,500 634 2,500 1,174 1,876 3,000 Seminars Registration 14,150 12,831 14,150 4,173 4,232 8,000 Office Supplies 28,200 17,611 26,700 11,556 29,191 22,500 Computer Supplies 0 0 0 75 165 3,000 Membership Services 10,000 6,224 10,000 7,529 8,743 10,000 Publishers Expense 289,600 201,195 368,995 272,935 444,023 424,427 Equipment Rental&Maintenance 5,000 4,748 5,000 3,422 4,698 5,000 Internet Access/Computer Rental & Maint 100 116 100 11,375 0 0 Layout/Design 8,500 2,183 20,300 1,444 2,498 21,000 Office Occupancy 464,640 331,190 469,103 339,687 471,356 465,823 Office Maintenance 13,760 8,094 13,680 12,093 15,282 14,669 Storage 3,300 3,236 2,800 3,045 4,578 2,800 Speakers/Honorariums 100,000 82,450 70,000 76,644 70,400 70,000 Special Events 12,500 6,694 11,000 4,846 6,462 11,000 Promotion 10,000 5,191 5,100 690 690 3,000 Plaques and Awards 2,750 141 2,100 168 2,584 2,750 Prizes 3,000 1,375 3,000 2,565 6,547 3,000 Gratuities 5,500 1,664 7,500 2,106 3,227 5,700 Taxes&Licenses 2,750 1,479 2,750 3,289 3,469 2,750 Delivery 6,500 3,433 5,750 3,836 5,198 6,250 Taxes-Unrelated Business Income 0 0 0 13,981 13,261 15,000 Taxes-Unrelated Business Income 0 0 0 8,220 0 0 Reference Materials 2,250 1,099 2,250 1,538 1,754 2,250 Auto Leasing 10,200 6,649 9,900 7,565 10,889 9,900 Accounting Services 28,500 27,500 26,500 26,800 26,800 25,550 Payroll Services 6,500 4,989 6,500 4,381 6,732 6,000 Finance Charges 55,000 37,473 55,000 32,690 63,340 55,000 Bank Service Charges 5,000 7,091 12,000 8,526 12,579 10,200 Commissions 195,000 83,110 220,600 102,523 207,368 246,575 Canadian Exchange Charges 0 183 0 0 766 0 Miscellaneous 0 1 0 1 6 0 Bad Debts 0 0 0 0 1,188 0 Depreciation&Amortization 116,148 50,972 65,320 47,352 71,965 71,690 Interest 1,800 671 0 203 233 1,080 TOTAL $6,466,273 $4,572,521 $6,253,367 $4,402,136 $6,092,168 $6,326,783
111 AMERICAN BUS ASSOCIATION GOVERNMENT AFFAIRS & POLICY
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Salaries $484,201 $330,040 $471,468 $309,427 $464,447 $483,827 Fringe Benefits 129,992 99,458 132,306 81,183 121,447 127,284 Temporary Help 0 0 2,000 12,999 12,999 0 Postage 500 82 500 265 330 5,000 Recruitment 0 0 0 8,202 8,202 0 Printing 2,500 1,332 3,000 4,565 4,565 1,500 Photo Services 0 30 0 0 0 0 Duplicating 3,000 904 3,000 1,613 2,331 3,000 Telephone 6,000 3,344 5,000 4,551 6,862 5,000 Consulting Services 225,000 53,064 200,000 184,157 268,928 264,000 Dues&Subscriptions 55,000 42,648 66,000 39,272 61,239 60,000 Travel 25,000 13,138 25,000 9,658 16,839 21,000 Member travel 2,000 0 5,000 0 0 4,000 Local Expense 2,500 1,362 2,500 984 1,886 1,500 Legal Services 100,000 29,479 200,000 58,796 90,956 120,000 Meetings&Conferences 3,000 1,693 0 1,970 2,369 0 Function Costs 10,000 2,709 10,000 9,563 9,563 5,000 Audio Visual 4,000 495 1,000 3,300 3,300 0 Decorating 100 0 0 0 42 0 Seminars Registration 2,000 945 2,000 650 650 3,000 Office Supplies 2,000 908 2,000 320 727 0 Office Occupancy 150,714 114,071 155,187 112,593 155,942 154,087 Promotion 10,000 4,749 100 100 100 0 Delivery 500 206 500 262 337 0 TOTAL $1,218,007 $700,657 $1,286,561 $844,430 $1,234,061 $1,258,198
112 AMERICAN BUS ASSOCIATION BUS INDUSTRY SAFETY COUNCIL
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Postage $150 $3 $150 $0 $21 $300 Printing 1,500 0 1,500 0 0 4,200 Duplicating 400 119 700 0 0 0 Telephone 300 138 300 111 580 0 Consulting Services 0 20,000 0 0 0 0 Travel 6,000 3,041 6,000 2,409 2,409 2,000 Member travel 1,000 678 5,000 5,142 5,442 25,000 Insurance 18,000 17,066 18,000 18,627 18,627 18,500 Legal Services 0 0 0 680 680 0 Meetings&Conferences 2,000 657 2,000 600 600 2,000 Function Costs 28,000 31,271 28,000 23,354 23,354 50,000 Audio Visual 19,000 21,468 14,500 17,869 17,869 12,500 Decorating 0 0 0 0 0 1,000 Office Supplies 900 267 900 358 691 400 Computer Supplies 0 0 0 0 90 0 Layout/Design 2,500 0 2,500 0 0 3,000 Plaques and Awards 250 0 250 0 466 250 Gratuities 0 0 0 0 0 200 Delivery 200 150 200 205 205 200 TOTAL $80,200 $94,859 $80,000 $69,355 $71,035 $119,550
113 AMERICAN BUS ASSOCIATION WEBSITE
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Computer Services $1,800 $900 $2,000 $2,325 $2,325 $4,000 Consulting Services 8,200 7,988 8,000 0 0 7,000 Depreciation&Amortization 14,138 12,131 17,900 11,768 17,740 20,000 TOTAL $24,138 $21,019 $27,900 $14,093 $20,065 $31,000
114 AMERICAN BUS ASSOCIATION COMMUNICATIONS & MARKETING
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Salaries $157,857 $98,040 $151,943 $60,897 $108,204 $177,210 Fringe Benefits 55,714 29,309 47,467 19,246 31,549 47,118 Postage 100 52 50 9 21 50 Recruitment 0 0 0 2,190 2,190 0 Advertising 5,000 308 0 0 2,000 5,000 Printing 1,000 0 5,000 0 0 0 Photo Services 25,000 5,712 12,000 9,249 12,526 12,000 Duplicating 0 431 0 0 532 0 Telephone 2,500 2,180 2,500 1,988 3,042 3,500 Computer Services 0 0 0 450 1,350 0 Consulting Services 25,000 15,986 30,000 42,603 55,353 0 Dues&Subscriptions 10,000 7,140 10,000 3,459 3,512 5,500 Travel 9,000 5,471 9,000 2,985 5,323 9,000 Member travel 0 495 0 0 0 0 Local Expense 500 155 500 90 109 200 Function Costs 500 1,577 1,000 343 343 1,000 Audio Visual 0 0 2,000 0 0 2,000 Entertainment 500 238 500 0 0 0 Seminars Registration 3,000 745 3,000 0 0 0 Office Supplies 300 130 300 141 171 300 Publishers Expense 0 0 0 17,600 17,600 0 Layout/Design 0 0 1,000 0 0 1,500 Office Occupancy 51,213 39,622 55,313 39,980 55,570 54,940 Promotion 0 22 0 0 0 0 TOTAL $347,184 $207,613 $331,573 $201,230 $299,396 $319,318
115 AMERICAN BUS ASSOCIATION MEMBERSHIP SERVICES
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Salaries $213,642 $172,946 $214,753 $165,947 $246,877 $191,083 Fringe Benefits 72,835 52,413 76,693 44,712 64,990 63,661 Temporary Help 10,000 398 6,000 16,332 16,907 7,500 Postage 10,200 4,412 10,000 3,681 5,907 10,000 Educational Assistance 0 1,049 0 595 595 0 Recruitment 0 88 0 0 0 0 Mailing&Handling 500 0 500 120 120 500 Printing 8,000 0 2,000 0 0 5,120 Duplicating 5,500 2,274 5,550 2,425 5,303 6,500 Telephone 6,200 4,778 6,150 4,670 7,109 6,000 Computer Services 79,000 61,414 13,000 11,923 15,123 13,000 Consulting Services 0 33,080 0 4,000 6,000 1,000 Dues&Subscriptions 2,500 2,047 2,000 2,517 2,517 3,000 Travel 26,500 21,501 20,000 20,520 26,548 21,750 Local Expense 0 71 0 0 70 0 Legal Services 0 3,950 0 390 2,210 0 Meetings&Conferences 68,000 40,207 65,000 45,737 49,787 61,250 Function Costs 20,000 15,912 11,700 7,764 13,129 15,750 Audio Visual 6,000 809 5,000 2,835 4,993 6,000 Decorating 6,000 6,309 3,000 3,293 3,293 0 Seminars Registration 0 0 0 46 46 0 Office Supplies 3,000 3,398 2,500 2,385 3,540 2,500 Membership Services 10,000 6,224 10,000 7,529 8,743 10,000 Layout/Design 2,500 0 5,100 0 188 7,850 Office Occupancy 51,213 38,762 52,733 38,260 52,990 52,360 Storage 500 726 500 1,089 1,703 500 Promotion 0 420 5,000 590 590 3,000 Plaques and Awards 0 0 0 0 1,000 0 Prizes 3,000 1,375 3,000 2,565 6,547 3,000 Delivery 3,200 996 3,200 2,760 3,774 3,000 Finance Charges 15,000 15,538 15,000 11,356 19,814 15,000 Commissions 0 0 0 440 968 0 Canadian Exchange Charges 0 183 0 0 540 0 TOTAL $623,290 $491,280 $538,379 $404,480 $571,921 $509,324
116 AMERICAN BUS ASSOCIATION MARKETPLACE
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Salaries $373,411 $195,158 $363,979 $204,007 $306,765 $345,271 Fringe Benefits 118,597 63,087 107,001 60,700 91,145 98,486 Temporary Help 2,000 405 2,000 0 0 4,500 Postage 13,500 5,301 10,900 5,244 11,369 7,700 Mailing&Handling 6,000 1,175 6,000 5,780 5,780 1,200 Printing 25,400 20,013 23,450 11,804 18,339 23,900 Duplicating 4,000 1,794 4,000 20 4,345 6,000 Telephone 7,000 4,258 7,000 4,295 6,633 7,000 Computer Services 51,500 46,441 52,000 22,646 35,321 25,000 Consulting Services 12,050 11,775 12,050 7,800 7,800 17,000 90th Anniversary 0 0 0 366 366 0 Travel 33,850 26,251 29,100 25,735 33,375 28,700 Member travel 40,000 25,423 45,000 27,495 37,143 53,500 Local Expense 0 46 0 0 0 0 Insurance 10,000 10,650 10,000 7,005 7,005 10,000 Legal Services 1,000 130 500 390 390 2,500 Meetings&Conferences 81,500 21,012 50,500 24,477 26,627 38,500 Function Costs 162,500 218,677 179,000 207,429 208,477 250,000 Audio Visual 277,000 309,878 242,500 221,363 222,086 220,000 Security 8,500 0 0 962 962 8,500 Decorating 220,000 294,858 210,000 187,295 187,783 210,000 Office Supplies 9,000 2,432 8,000 1,802 9,755 8,000 Computer Supplies 0 0 0 75 75 0 Internet Access/Computer Rental & Maint 100 116 100 11,375 0 0 Layout/Design 3,500 2,183 11,700 1,444 2,310 8,350 Office Occupancy 80,420 60,243 82,700 59,490 83,085 82,139 Storage 0 292 0 115 115 0 Speakers/Honorariums 90,000 82,450 60,000 66,144 59,900 60,000 Special Events 0 0 0 750 750 0 Plaques and Awards 1,500 141 850 0 455 1,500 Gratuities 5,000 1,534 7,000 1,936 3,057 5,000 Taxes&Licenses 0 607 0 852 852 0 Delivery 1,000 1,528 1,000 320 376 1,000 Finance Charges 40,000 21,935 40,000 21,334 43,526 40,000 Canadian Exchange Charges 0 0 0 0 225 0 TOTAL $1,678,328 $1,429,792 $1,566,330 $1,190,451 $1,416,193 $1,563,746
117 AMERICAN BUS ASSOCIATION BOARD OF DIRECTORS
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Salaries $28,652 $28,941 $9,901 $16,681 $24,136 $9,685 Fringe Benefits 6,770 8,544 2,636 4,419 5,921 2,596 Postage 100 0 100 4 13 150 Photo Services 1,000 451 2,000 451 451 5,000 Duplicating 1,000 270 1,000 1,402 1,641 1,000 Telephone 500 318 800 380 380 500 Computer Services 0 0 0 500 850 0 Consulting Services 0 30,194 0 0 0 0 Travel 7,000 6,070 10,000 4,635 6,349 6,000 Member travel 30,000 19,371 30,000 17,357 28,121 25,000 Travel-Chairman 10,000 4,861 7,000 6,352 9,709 5,000 Legal Services 20,000 20,291 20,000 17,749 32,761 20,000 Meetings&Conferences 7,000 19,411 7,000 0 0 2,000 Function Costs 101,000 62,467 66,500 52,560 65,298 52,000 Audio Visual 40,000 24,955 25,000 27,149 40,271 35,000 Decorating 0 0 0 59 59 0 Office Supplies 1,000 0 1,000 86 86 1,000 Speakers/Honorariums 10,000 0 10,000 10,500 10,500 10,000 Plaques and Awards 1,000 0 1,000 168 663 1,000 Gratuities 500 130 500 170 170 500 Delivery 1,000 0 500 0 0 1,200 TOTAL $266,522 $226,273 $194,937 $160,622 $227,378 $177,631
118 AMERICAN BUS ASSOCIATION CTIS PROGRAM
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Salaries $0 $0 $0 $0 $47 $0 Fringe Benefits 0 0 0 0 26 0 Postage 0 0 100 34 34 100 Printing 100 0 0 0 0 0 Duplicating 0 0 0 0 15 0 Travel 750 648 0 0 0 0 Meetings&Conferences 0 0 0 80 80 0 Function Costs 4,500 4,696 3,000 3,191 3,191 3,000 Office Supplies 0 895 0 0 0 0 Layout/Design 0 0 0 0 0 300 TOTAL $5,350 $6,239 $3,100 $3,305 $3,393 $3,400
119 AMERICAN BUS ASSOCIATION DESTINATIONS
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Salaries $77,624 $32,755 $84,634 $38,351 $57,291 $84,743 Fringe Benefits 25,937 10,519 26,115 10,923 16,337 24,848 Postage 33,000 22,280 25,318 16,661 26,233 27,000 Printing 71,000 39,146 60,793 34,559 46,416 59,185 Telephone 0 1,684 0 1,653 2,497 0 Consulting Services 0 0 0 14,338 14,338 0 Travel 0 4,971 25,000 18,094 18,401 25,000 Function Costs 0 0 0 489 489 0 Publishers Expense 185,700 144,925 286,515 181,570 295,953 282,715 Storage 0 480 0 640 800 0
Taxes-Unrelated Business Income 0 0 0 0 13,261 15,000 Commissions 120,200 63,003 136,600 82,983 131,325 134,240 Bad Debts 0 0 0 0 1,188 0 TOTAL $513,461 $319,763 $644,975 $400,260 $624,530 $652,731
120 AMERICAN BUS ASSOCIATION MOTORCOACH MARKETER
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Salaries $10,443 $1,239 $6,403 $1,422 $9,040 $6,403 Fringe Benefits 2,493 333 1,912 406 1,866 1,879 Temporary Help 0 0 6,000 2,591 2,591 0 Postage 8,000 0 8,700 0 8,947 8,700 Printing 42,000 0 33,000 0 33,514 33,000 Duplicating 0 56 0 0 111 0 Telephone 0 2,527 0 2,480 3,746 0 Computer Services 0 0 0 2,860 3,120 0 Publishers Expense 18,000 0 27,500 0 27,500 27,500 Taxes-Unrelated Business Income 0 0 0 13,981 0 0 Taxes-Unrelated Business Income 0 0 0 8,220 0 0 Commissions 45,000 0 50,000 0 44,258 50,000 TOTAL $125,936 $4,155 $133,515 $31,961 $134,694 $127,482
121 AMERICAN BUS ASSOCIATION TOP "100"
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Salaries $0 $0 $0 $0 $0 $10,672 Fringe Benefits 0 0 0 0 0 3,131 Postage 0 0 0 7 7 2,700 Printing 0 0 0 0 0 7,900 Duplicating 0 0 0 0 0 800 Telephone 0 0 0 0 0 700 Computer Services 0 0 0 520 520 0 Travel 0 0 0 0 0 800 Member travel 0 0 0 0 0 7,500 Office Supplies 0 0 0 0 0 300 Publishers Expense 0 0 0 0 0 15,890 Delivery 0 0 0 0 0 500 Commissions 0 0 0 0 0 9,800 TOTAL $0 $0 $0 $527 $527 $60,693
122 AMERICAN BUS ASSOCIATION MARKETPLACE TODAY
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Postage $0 $0 $0 $160 $160 $0 Mailing&Handling 0 0 250 0 0 100 Printing 14,000 11,173 11,000 10,844 10,844 10,584 Photo Services 7,000 5,800 6,000 5,800 5,800 6,500 Travel 0 3,128 0 0 0 0 Audio Visual 0 594 0 504 504 0 Publishers Expense 24,000 19,160 19,160 21,740 21,740 25,162 Commissions 10,000 10,111 10,000 9,256 9,256 12,000 TOTAL $55,000 $49,967 $46,410 $48,304 $48,304 $54,346
123 AMERICAN BUS ASSOCIATION ABA INSIDER
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Salaries $7,037 $2,709 $9,564 $1,683 $2,224 $10,184 Fringe Benefits 2,199 672 3,283 946 1,033 2,607 Publishers Expense 61,900 37,110 35,820 24,690 43,890 35,820 Commissions 19,800 9,995 24,000 8,627 15,104 31,200 TOTAL $90,936 $50,486 $72,667 $35,946 $62,251 $79,811
124 AMERICAN BUS ASSOCIATION EQUIP MAGAZINE
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Postage $0 $0 $0 $3,580 $5,284 $8,000 Printing 0 0 0 8,495 12,710 11,450 Publishers Expense 0 0 0 27,335 37,340 37,340 Commissions 0 0 0 910 2,419 9,335 TOTAL $0 $0 $0 $40,320 $57,753 $66,125
125 AMERICAN BUS ASSOCIATION MOTORCOACH TRAVEL NEWS
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Photo Services $0 $0 $0 $0 $0 $17,000 Commissions 0 0 0 308 4,037 0 TOTAL $0 $0 $0 $308 $4,037 $17,000
126 AMERICAN BUS ASSOCIATION GENERAL & ADMINISTRATIVE
TOTAL YTD TOTAL YTD YEAR END TOTAL DRAFT BUDGET AUGUST BUDGET AUGUST DECEMBER BUDGET 2018 2017 2017 2016 2016 2016
Salaries $725,369 $501,202 $697,628 $493,423 $669,119 $694,529 Fringe Benefits 183,176 131,248 173,723 116,349 161,823 154,714 Postage 500 245 500 235 560 500 Educational Assistance 5,000 6,343 5,000 1,447 1,866 5,000 Recruitment 0 690 0 0 0 0 Duplicating 1,250 770 1,500 3,598 934 500 Telephone 5,000 3,404 6,000 2,901 5,001 10,000 Computer Services 51,600 36,039 46,734 32,471 52,437 45,024 Consulting Services 19,750 10,413 17,750 14,785 23,628 16,000 Parking 0 20 0 0 0 0 Contributions 8,750 11,750 6,250 10,750 10,750 1,250 Dues&Subscriptions 28,026 24,032 24,365 17,460 20,603 20,275 Travel 35,000 13,926 35,000 22,349 36,374 30,000 Local Expense 2,000 841 2,000 841 1,295 2,000 Insurance 21,000 20,033 21,000 19,429 19,429 17,000 Legal Services 1,000 315 1,000 10,693 24,218 1,000 Meetings&Conferences 2,600 0 2,600 1,200 1,200 2,600 Entertainment 2,000 396 2,000 1,174 1,876 3,000 Seminars Registration 9,150 11,141 9,150 3,477 3,536 5,000 Office Supplies 12,000 9,580 12,000 6,465 14,221 10,000 Computer Supplies 0 0 0 0 0 3,000 Equipment Rental&Maintenance 5,000 4,748 5,000 3,422 4,698 5,000 Office Occupancy 131,080 78,491 123,170 89,364 123,769 122,297 Office Maintenance 13,760 8,094 13,680 12,093 15,282 14,669 Storage 2,800 1,739 2,300 1,200 1,960 2,300 Special Events 12,500 6,694 11,000 4,096 5,712 11,000 Taxes&Licenses 2,750 872 2,750 2,437 2,618 2,750 Delivery 600 553 350 289 506 350 Reference Materials 2,250 1,099 2,250 1,538 1,754 2,250 Auto Leasing 10,200 6,649 9,900 7,565 10,889 9,900 Accounting Services 28,500 27,500 26,500 26,800 26,800 25,550 Payroll Services 6,500 4,989 6,500 4,381 6,732 6,000 Bank Service Charges 5,000 7,091 12,000 8,526 12,579 10,200 Miscellaneous 0 1 0 1 6 0 Depreciation&Amortization 102,010 38,841 47,420 35,584 54,224 51,690 Interest 1,800 671 0 203 233 1,080 TOTAL $1,437,921 $970,420 $1,327,021 $956,546 $1,316,632 $1,286,428
127 Investor Statement August 31, 2017
Prepared for
American Bus Association
AMERICAN BUS ASSOCIATION 111 K ST NE FL 9 WASHINGTON DC 20002-8110
Advisor
Karl Macklin TD Private Client Wealth LLC Managed Accounts Network
703-663-4421
Securities and investment advisory products: Not insured by the FDIC or any other governmental agency • Not guaranteed by TD Bank, NA or affiliates • May lose value. 129 Table of Contents
Group Reports Mkt Val
American Bus Association Reserve $ 4,722,644.78
Account Reports 1 Mkt Val
American Bus Association - Not for Profit | QGR005858 $ 1,431,442.43 American Bus Association Reserve | QY3008024 3,291,202.35
Please inform your financial advisor of any changes in your financial situation or investment objectives, or if you wish to modify or impose a reasonable restriction on your account. Please contact your financial advisor if you would like to request a current copy of the Form ADV Part 2A or Form ADV Part 2A - Appendix 1 or equivalent brochure, as applicable, for any of the following: Financial Advisor, Money Manager(s) and/or Envestnet Asset Management, Inc.
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any 130 questions, please contact your Advisory Representative. American Bus Association Data as of August 31, 2017
Aggregate Overview American Bus Association Reserve
Client Group Summary Asset Allocation
Inception Date Feb 19, 2015 Fixed Income 24.67 % Total Value $ 4,722,644.78 ● Short Bond 24.67 Accrued Income 6,746.29 Large Cap 29.20 Net Investment 2 $ 4,545,879.03 ● Large-Cap Growth 2.44 ● Large Value & Dividend 15.49 Large-Cap Core 11.27 Advisory Fees ● SMID Cap 7.22 This Quarter $ -9,593.09 ● SMID Cap 7.22 This Year $ -27,603.13 International 19.70 International Growth 2.54 Performance 3 This Quarter Year-to-Date Incp to Date ● ● Foreign Large Cap Growth 1.87 TWRR 0.82 % 6.33 % 1.56 % ● Foreign Large Cap Value 6.98 ● International Value 8.30 International Emerging Markets 1.48 Account Activity 4 This Quarter Year-to-Date Since Inception ● Int'l Emerging Mkts 1.48 Beginning Value $ 4,676,610.68 $ 4,339,926.99 $ 4,238,497.33 Intermediate Bond 5.36 Net Cntrbs/Wthdrwls 0.00 100,082.74 307,797.52 ● Intermediate Bond 5.36 Capital Appreciation 33,802.67 228,580.58 -48,371.27 Short Bond 10.52 Dividends 19,337.00 73,676.77 264,983.75 Interest 2,573.52 8,303.57 42,384.46 ● Short Bond 10.52 Misc. Expenses -86.00 -322.74 -415.82 Cash 1.85 Transaction Fees 0.00 0.00 0.00 ● Cash 1.85
Gains & Losses Long-Term Short-Term Total
Unrealized $ 107,411.48 $ 18,361.09 $ 125,772.57 Realized (YTD) 18,006.00 27,977.86 45,983.86
Market Net 2 Qtr Year Trailing 6 Trailing Trailing Trailing Incp Accounts 3 / Benchmarks 5 Value Investment to Date to Date 1 Yr 3 Yrs 5 Yrs 10 Yrs to Date
American Bus Association - Not for Profit | QGR005858 $ 1,431,442.43 $ 1,410,847.34 Incp: Feb 19, 2015
TD Short/Intermediate G/C Bond Managed Account — — 0.41 % 1.06 % -1.32 % — — — 0.69 %
Bloomberg Barclays Capital Intermediate U.S. Government/Credit Index — — 0.70 1.82 -0.17 — — — 1.72
(2/19/2015 - 12/6/2016) , BofAML US Corp&Govt 1-5 Yr TR USD
(12/6/2016 to date)
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 131 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Data as of August 31, 2017
Aggregate Overview American Bus Association Reserve
Market Net 2 Qtr Year Trailing 6 Trailing Trailing Trailing Incp Accounts 3 / Benchmarks 5 Value Investment to Date to Date 1 Yr 3 Yrs 5 Yrs 10 Yrs to Date
American Bus Association Reserve | QY3008024 $ 3,291,202.35 $ 3,135,031.69 Incp: Feb 19, 2015
CSS - Bal Gro - American Bus Association Reserve — — 1.00 8.70 8.64 — — — 1.94
72% S&P 500 TR, 18% MSCI World Ex US NR USD, 8% Bloomberg — — 2.35 11.80 14.82 — — — 7.49
Barclays Capital U.S. Aggregate Bond TR, 2% Citigroup Treasury Bill - 3
Month
Performance Summary 7 Portfolio Value vs. Benchmark 8
TWRR | Balanced Growth % Portfolio Value | Benchmark | Net Investment $ 9.0 5,500,000 5,000,000 8.0 4,500,000 7.0 4,000,000 6.0 3,500,000
5.0 3,000,000 2,500,000 4.0 2,000,000 3.0 1,500,000 2.0 1,000,000
1.0 500,000 0 0.0 May Sep Jan May Sep Jan May Sep This Quarter Year-to-Date Since Inception 15 15 16 16 16 17 17 17
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 132 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Data as of August 31, 2017
Aggregate Overview American Bus Association Reserve
Quarterly Performance Statistics 7 TWRR 3 Balanced Growth
This Quarter 0.82 % 2.00 %
Q2 2017 1.97 2.71
Q1 2017 3.42 4.04
Q4 2016 -0.64 0.66
Q3 2016 -0.03 2.78
Periodic Performance Statistics 7 TWRR 3, 9 Balanced Growth
Year-to-Date 6.33 % 9.06 %
Trailing 1 Year Aug 31, 2016 - Aug 31, 2017 5.52 10.05
Since Inception Feb 19, 2015 - Aug 31, 2017 1.56 5.84
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 133 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Data as of August 31, 2017
Holdings Analysis American Bus Association Reserve
Unrealized 10 Gains Losses Total Parent Style 11
Long Term $ 161,811.45 $ 54,399.97 $ 107,411.48 $ Total % Total Short Term 32,276.56 13,915.47 18,361.09 1,934,819 41.0 Large Cap 1,928,112 40.8 Short Bond 391,961 8.3 International 323,424 6.8 SMID Cap 74,576 1.6 Cash 69,754 1.5 International Eme
% 0.0 10.0 20.0 30.0 40.0
Equity Distribution By Sector 12, 13 Asset Class 14
$ Total % Total $ Total % Total 1,281,449 31.8 Fixed Inc 1,934,819 41.0 Lg Value & Dividen 467,136 11.6 Comm. Svcs. 1,928,112 40.8 Short Bond 406,203 10.1 Cons. Defense 391,961 8.3 Int'l Value 374,115 9.3 Healthcare 323,424 6.8 SMID Cap 357,023 8.9 Utilities 74,576 1.6 Cash 272,232 6.8 Energy 69,754 1.5 Int'l Emerging Mkt 214,150 5.3 Fin. Services 158,654 3.9 Industrials 155,892 3.9 Cons. Cyclical 122,179 3.0 Real Estate 219,617 5.5 Other Invest
% 0.0 5.0 10.0 15.0 20.0 25.0 30.0 % 0.0 10.0 20.0 30.0 40.0
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 134 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Data as of August 31, 2017
Performance by Style Type American Bus Association Reserve
Market Style Qtr Year Trailing 17 Trailing From Style Type 15 / Benchmark 16 Value Pct to Date to Date 1 Yr 3 Yrs Start Date
Large Cap $ 1,968,433.19 41.81 % Start: Feb 19, 2015
Composite Performance — — 1.04 % 9.74 % 7.23 % — 1.41 %
Benchmark: S&P 500 TR — — 2.37 11.93 16.23 — 8.99
Large Value & Dividend $ 1,968,433.19 41.81 Start: May 17, 2016
Composite Performance — — 1.04 9.74 7.23 — 8.17
Benchmark: Russell 1000 Value TR — — 0.15 4.81 11.58 — 15.05
SMID Cap $ 330,014.52 7.01 Start: Feb 19, 2015
Composite Performance — — -1.62 3.38 10.17 — 7.16
Benchmark: Russell 2500 TR — — 0.20 6.18 13.22 — 6.47
SMID Cap $ 330,014.52 7.01 Start: Feb 19, 2015
Composite Performance — — -1.62 3.38 10.17 — 7.17
Benchmark: Russell 2500 TR — — 0.20 6.18 13.22 — 6.47
International $ 399,870.01 8.49 Start: Feb 19, 2015
Composite Performance — — 4.35 20.82 29.95 — 6.45
Benchmark: MSCI World Ex Us GR USD — — 2.98 16.61 17.71 — 4.73
International Value $ 399,870.01 8.49 Start: Feb 19, 2015
Composite Performance — — 4.35 20.88 30.01 — 6.35
Benchmark: MSCI EAFE Value GR — — 2.72 14.64 20.70 — 3.55
International Emerging Markets $ 71,071.95 1.51 Start: Feb 19, 2015
Composite Performance — — 6.89 27.10 22.86 — 5.10
Benchmark: MSCI EM TRG USD — — 8.45 28.62 24.99 — 7.05
Int'l Emerging Mkts $ 71,071.95 1.51 Start: Feb 19, 2015
Composite Performance — — 6.89 27.10 22.86 — 5.10
Benchmark: MSCI EM NR — — 8.32 28.29 24.53 — 7.70
Short Bond $ 1,938,657.47 41.18 Start: Feb 19, 2015
Composite Performance — — 0.60 1.60 0.97 — 1.41
Benchmark: Bloomberg Barclays Capital 1-3 Govt/Credit Bond — — 0.46 1.18 0.90 — 1.12
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 135 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Data as of August 31, 2017
Performance by Style Type American Bus Association Reserve
Market Style Qtr Year Trailing 17 Trailing From Style Type 15 / Benchmark 16 Value Pct to Date to Date 1 Yr 3 Yrs Start Date
Short Bond $ 1,938,657.47 41.18 Start: Feb 19, 2015
Composite Performance — — 0.60 1.60 0.97 — 1.41
Benchmark: Bloomberg Barclays Capital 1-5 Yr Treasury TR USD — — 0.64 1.44 0.42 — 1.21
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 136 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Data as of August 31, 2017
Realized Gains/Losses (Year-to-date) American Bus Association - Not for Profit | QGR005858
Short Term Opened Closed Units Cost Basis 18 Proceeds Gain/Loss 10
Federal Home Loan Mortgage Corp | 3137EACA5 Sep 29, 2016 ℹ Jul 20, 2017 5,000.000 $ 5,244.57 $ 5,197.45 - 0.9 %
Federal Home Loan Mortgage Corp | 3137EACA5 Apr 19, 2017 ℹ Jul 20, 2017 5,000.000 5,215.26 5,197.45 - 0.3
Federal National Mtg Assn | 3135G0TG8 Dec 14, 2016 ℹ Jan 30, 2017 70,000.000 69,807.50 69,953.80 + 0.2
United States Treasury Note/Bond | 912828UV0 Dec 14, 2016 ℹ Apr 6, 2017 55,000.000 54,134.18 54,458.60 + 0.6
United States Treasury Note/Bond | 912828PY0 Dec 14, 2016 ℹ Apr 6, 2017 10,000.000 10,151.00 10,148.83 - 0.0
United States Treasury Note/Bond | 912828PY0 Jan 30, 2017 ℹ May 4, 2017 25,000.000 25,380.08 25,329.10 - 0.2
United States Treasury Note/Bond | 912828PY0 Jan 30, 2017 ℹ Jun 7, 2017 14,000.000 14,212.85 14,157.50 - 0.4
United States Treasury Note/Bond | 912828PY0 Dec 14, 2016 ℹ Jun 7, 2017 26,000.000 26,357.47 26,292.50 - 0.2
United States Treasury Note/Bond | 912828PY0 Dec 14, 2016 ℹ Jul 20, 2017 41,000.000 41,450.85 41,397.21 - 0.1
Total $ 252,132.44 0.1 %
ℹ denotes a "covered" security as defined by the IRS Code Section 6045(g)(3)(A) is a specified security acquired on or after the applicable effective date. Section 6045(g)(3)(A) defines stocks acquired on or after January 1, 2011, mutual fund and dividend reinvestment plan shares acquired on or after January 1, 2012, and options and debt instruments acquired on or after January 1, 2013, as "covered" securities. The Emergency Economic Stabilization Act of 2008 requires broker-dealers and mutual fund providers to report cost basis and holding period information to the taxpayer and the IRS on the sale of "covered" securities. Reporting will be phased in by security type over the next three years as stated above. Envestnet provides cost basis information for most stocks and mutual fund shares purchased and sold, if provided by the custodian, to clients as supplemental information only within the gains/losses report.
Long Term Opened Closed Units Cost Basis 18 Proceeds Gain/Loss 10
Federal Home Loan Mortgage Corp | 3137EACA5 Feb 23, 2015 ℹ Jul 20, 2017 42,000.000 $ 43,642.16 $ 43,658.58 + 0.0 %
United States Treasury Note/Bond | 912828NT3 Feb 23, 2015 ℹ Jul 20, 2017 14,000.000 14,406.19 14,456.64 + 0.4
United States Treasury Note/Bond | 912828NT3 Jul 16, 2015 ℹ Jul 20, 2017 15,000.000 15,417.26 15,489.25 + 0.5
Total $ 73,604.47 0.2 %
ℹ denotes a "covered" security as defined by the IRS Code Section 6045(g)(3)(A) is a specified security acquired on or after the applicable effective date. Section 6045(g)(3)(A) defines stocks acquired on or after January 1, 2011, mutual fund and dividend reinvestment plan shares acquired on or after January 1, 2012, and options and debt instruments acquired on or after January 1, 2013, as "covered" securities. The Emergency Economic Stabilization Act of 2008 requires broker-dealers and mutual fund providers to report cost basis and holding period information to the taxpayer and the IRS on the sale of "covered" securities. Reporting will be phased in by security type over the next three years as stated above. Envestnet provides cost basis information for most stocks and mutual fund shares purchased and sold, if provided by the custodian, to clients as supplemental information only within the gains/losses report.
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 137 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Data as of August 31, 2017
Realized Gains/Losses (Year-to-date) American Bus Association Reserve | QY3008024
Short Term Opened Closed Units Cost Basis 19 Proceeds Gain/Loss 10
Altria Group Inc | MO May 17, 2016 ℹ Mar 22, 2017 147.000 $ 9,353.60 $ 11,063.30 + 18.3 %
Johnson & Johnson | JNJ May 17, 2016 ℹ Mar 22, 2017 211.000 23,942.17 26,668.10 + 11.4
McDonald's Corp | MCD May 17, 2016 ℹ Mar 22, 2017 102.000 13,007.03 13,151.61 + 1.1
McDonald's Corp | MCD May 17, 2016 ℹ Apr 28, 2017 60.000 7,651.19 8,387.54 + 9.6
McDonald's Corp | MCD May 17, 2016 ℹ May 2, 2017 81.000 10,329.11 11,418.45 + 10.5
McDonald's Corp | MCD May 17, 2016 ℹ May 4, 2017 60.000 7,651.19 8,611.22 + 12.5
McDonald's Corp | MCD Oct 13, 2016 ℹ Jul 19, 2017 12.000 1,388.00 1,842.47 + 32.7
McDonald's Corp | MCD Oct 13, 2016 ℹ Jul 31, 2017 74.000 8,559.32 11,496.38 + 34.3
McDonald's Corp | MCD Oct 13, 2016 ℹ Aug 4, 2017 9.000 1,041.00 1,384.52 + 33.0
McDonald's Corp | MCD Oct 24, 2016 ℹ Aug 4, 2017 56.000 6,369.54 8,614.78 + 35.2
McDonald's Corp | MCD Oct 24, 2016 ℹ Aug 9, 2017 57.000 6,483.28 8,803.45 + 35.8
Novartis Ag | NVS Oct 13, 2016 ℹ May 18, 2017 228.000 17,549.28 18,232.60 + 3.9
Novartis Ag | NVS Oct 13, 2016 ℹ May 22, 2017 7.000 538.79 568.66 + 5.5
Novartis Ag | NVS Oct 24, 2016 ℹ May 22, 2017 128.000 9,704.26 10,398.44 + 7.2
Novartis Ag | NVS Nov 16, 2016 ℹ May 22, 2017 103.000 7,428.22 8,367.49 + 12.6
Novartis Ag | NVS Feb 21, 2017 ℹ May 22, 2017 75.000 5,770.86 6,092.83 + 5.6
Philip Morris International Inc | PM May 17, 2016 ℹ Apr 10, 2017 87.000 8,644.93 9,847.11 + 13.9
Procter & Gamble Co | PG May 17, 2016 ℹ Feb 10, 2017 161.000 12,966.92 14,208.71 + 9.6
Procter & Gamble Co | PG May 17, 2016 ℹ Apr 10, 2017 127.000 10,228.57 11,371.76 + 11.2
Southern Co | SO May 17, 2016 ℹ Apr 10, 2017 182.000 8,890.68 9,043.98 + 1.7
Southern Co | SO May 17, 2016 ℹ Apr 13, 2017 357.000 17,439.42 17,645.62 + 1.2
The Kraft Heinz Co | KHC May 17, 2016 ℹ Feb 17, 2017 234.000 19,020.33 22,438.57 + 18.0
Unilever PLC ADR | UL May 17, 2016 ℹ Feb 17, 2017 639.000 28,595.12 30,694.40 + 7.3
Total $ 270,351.99 11.5 %
ℹ denotes a "covered" security as defined by the IRS Code Section 6045(g)(3)(A) is a specified security acquired on or after the applicable effective date. Section 6045(g)(3)(A) defines stocks acquired on or after January 1, 2011, mutual fund and dividend reinvestment plan shares acquired on or after January 1, 2012, and options and debt instruments acquired on or after January 1, 2013, as "covered" securities. The Emergency Economic Stabilization Act of 2008 requires broker-dealers and mutual fund providers to report cost basis and holding period information to the taxpayer and the IRS on the sale of "covered" securities. Reporting will be phased in by security type over the next three years as stated above. Envestnet provides cost basis information for most stocks and mutual fund shares purchased and sold, if provided by the custodian, to clients as supplemental information only within the gains/losses report.
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 138 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Data as of August 31, 2017
Realized Gains/Losses (Year-to-date) American Bus Association Reserve | QY3008024
Long Term Opened Closed Units Cost Basis 19 Proceeds Gain/Loss 10
AbbVie Inc | ABBV Jul 18, 2014 ℹ Jul 31, 2017 103.000 $ 5,660.99 $ 7,219.18 + 27.5 %
Harding Loevner Emerging Markets Advisor | HLEMX May 17, 2016 ℹ May 22, 2017 68.713 2,802.80 3,604.00 + 28.6
McDonald's Corp | MCD May 17, 2016 ℹ Jun 14, 2017 56.000 7,141.11 8,439.64 + 18.2
McDonald's Corp | MCD May 17, 2016 ℹ Jul 14, 2017 71.000 9,053.91 11,010.48 + 21.6
McDonald's Corp | MCD May 17, 2016 ℹ Jul 19, 2017 56.000 7,141.11 8,598.17 + 20.4
Merck & Co Inc | MRK May 17, 2016 ℹ Jul 31, 2017 133.000 7,183.46 8,483.96 + 18.1
National Grid PLC ADR | NGG May 17, 2016 ℹ May 25, 2017 0.084 6.66 5.88 - 11.7
Neuberger Berman Genesis Instl | NBGIX Feb 20, 2015 ℹ Feb 17, 2017 103.948 6,053.93 6,134.00 + 1.3
Oakmark International Investor | OAKIX Feb 20, 2015 ℹ Feb 17, 2017 637.227 15,981.65 15,166.00 - 5.1
Oakmark International Investor | OAKIX Feb 20, 2015 ℹ May 22, 2017 760.648 19,077.05 20,180.00 + 5.8
Oakmark International Investor | OAKIX Feb 20, 2015 ℹ Aug 22, 2017 405.818 10,177.92 11,160.00 + 9.6
Sanofi | SNY May 17, 2016 ℹ Jun 8, 2017 316.000 12,443.92 15,193.78 + 22.1
Sanofi | SNY May 17, 2016 ℹ Jun 14, 2017 203.000 7,994.04 9,650.28 + 20.7
Sanofi | SNY May 17, 2016 ℹ Jul 14, 2017 216.000 8,505.97 10,407.93 + 22.4
Sanofi | SNY May 17, 2016 ℹ Jul 19, 2017 242.000 9,529.84 11,368.20 + 19.3
Total $ 146,621.50 13.9 %
ℹ denotes a "covered" security as defined by the IRS Code Section 6045(g)(3)(A) is a specified security acquired on or after the applicable effective date. Section 6045(g)(3)(A) defines stocks acquired on or after January 1, 2011, mutual fund and dividend reinvestment plan shares acquired on or after January 1, 2012, and options and debt instruments acquired on or after January 1, 2013, as "covered" securities. The Emergency Economic Stabilization Act of 2008 requires broker-dealers and mutual fund providers to report cost basis and holding period information to the taxpayer and the IRS on the sale of "covered" securities. Reporting will be phased in by security type over the next three years as stated above. Envestnet provides cost basis information for most stocks and mutual fund shares purchased and sold, if provided by the custodian, to clients as supplemental information only within the gains/losses report.
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 139 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Data as of August 31, 2017
Performance by Manager American Bus Association Reserve | QY3008024
Market Manager Qtr Year Trailing 17 Trailing From Manager 15 / Benchmark 16 Value Pct to Date to Date 1 Yr 3 Yrs Start Date
Large Value & Dividend $ 1,968,433.19 60.08 % Start: May 17, 2016
Federated Strategic Value Dividend Managed Account — — 1.04 % 9.74 % 7.23 % — 8.17 %
Benchmark: Russell 1000 Value TR — — 0.15 4.81 11.58 — 15.05
Int'l Emerging Mkts $ 71,071.95 2.17 Start: May 17, 2016
Harding Loevner Emerging Markets Advisor — — 6.89 27.10 22.86 — 28.46
Benchmark: MSCI EM NR — — 8.32 28.29 24.53 — 25.63
Short Bond $ 507,215.04 15.48 Start: Feb 19, 2015
Vanguard Short-Term Federal Adm — — 0.48 1.10 0.54 — 1.24
Benchmark: Bloomberg Barclays Capital 1-5 Yr Treasury TR USD — — 0.64 1.44 0.42 — 1.21
SMID Cap $ 330,014.52 10.07 Start: Feb 19, 2015
Neuberger Berman Genesis Instl — — -1.62 3.38 10.17 — 7.18
Benchmark: Russell 2500 TR — — 0.20 6.18 13.22 — 6.47
International Value $ 399,870.01 12.20 Start: Feb 19, 2015
Oakmark International Investor — — 4.35 20.88 30.01 — 6.35
Benchmark: MSCI EAFE Value GR — — 2.72 14.64 20.70 — 3.55
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 140 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Data as of August 31, 2017
Disclosures
TD Private Client Group is a unit of TD Wealth® in the United States, which is a business of TD Bank N.A., member FDIC (TD Bank). TD Private Client Group provides its clients access to bank and non-bank products and services. Banking and trust services are available through TD Bank. Securities and investment advisory products are available through TD Private Client Wealth LLC, member FINRA/SIPC (TDPCW). TD Asset Management USA, Inc. (TDAM USA) and Epoch Investment Partners, Inc. (Epoch) are federally registered investment advisers that provide investment management services to TD Wealth. TD Bank, TDPCW, TDAM USA, and Epoch are affiliates.
TD Bank, TD PCW, their affiliates, and TD Wealth Relationship Managers and Advisors do not provide legal or tax advice. Any tax advice in this material is not intended or written to be used, and cannot be used, by any recipient for the avoidance of penalties under federal tax laws. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.
Past performance is no guarantee of future results. The information and data is being provided at your request and is from sources believed to be reliable but their accuracy is not guaranteed. It does not reflect future values or future performance of any security, strategy, or investment product. TD Bank and its affiliates and related entities are not liable for any errors or omissions in the information or for any loss or damage suffered.
For a complete list of the benchmark indexes used in this report and additional information about the benchmarks used, please contact your Investment Advisor.
Time Weighted Rate of Return (TWRR) is calculated net of all fees and on a pre-tax basis. TWRR assume that all cash distributions (i.e. dividends, interest, etc.) are reinvested back into the portfolio. In addition, the TWRR calculation eliminates the effects of cash flows in and out of the portfolio, in essence treating the portfolio as if there were a single investment at the beginning of the measurement period. TWRR is used to compare your portfolio returns versus benchmark indices (such as S&P 500).
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 141 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Data as of August 31, 2017
Disclosure Notes
1 These reports are not to be construed as an offer or the solicitation of an offer to buy or sell securities mentioned herein. Information contained in these reports is based on sources and data believed reliable. The information used to construct these reports was received via a variety of sources. These reports are for informational purposes only. These reports do not take the place of any brokerage statements, any fund company statements, or the 1099 tax forms. You are urged to compare this report with the statement you receive from your custodian covering the same period. Differences in positions may occur due to reporting dates used and whether certain assets are not maintained by your custodian. There may also be differences in the investment values shown due to the use of differing valuation sources and methods.
2 Net Investment is the total value of contributions and withdrawals (excluding unsupervised assets) made by the client since the inception date of the account. This includes Misc. Expenses received from the custodian.
3 Time Weighted Rate of Return (TWRR) is calculated net of all fees. Time Weighted Rate of Return (TWRR) is used to compare your portfolio returns versus benchmark indices (such as S&P 500).
4 "Beginning Value": the account's value at the beginning of each period; "Contributions": the value of deposits from the client into the account for each period; "Withdrawals": withdrawals from the account for each period; "Capital Appreciation": all realized and unrealized changes in market value during the period; "Dividends": the amount of dividends received from stocks or mutual funds for each period; "Interest": the amount of interest received for each period; "Misc Expenses": the amount of non trade related fees charged by the custodian (wire fee, overnight fee, ATM Fee, ACH Fee, etc.) for each period; "Transaction Fees": the amount of transaction fees charged to the account for each period (for informational purposes only, all transactions are net of transaction fees).
5 A benchmark is an unmanaged index, and its performance does not include any advisory fees, transaction costs or other charges that may be incurred in connection with your investments and/or managed accounts listed. Any benchmark whose return is shown for comparison purposes may include different holdings, a different number of holdings, and a different degree of investment in individual securities, industries or economic sectors than the investments and/or investment accounts to which it is compared. Investors cannot invest directly into a benchmark or index. All portfolio returns for all periods are expressed in USD. All benchmark(s) returns reflect the same currency as the portfolio returns presented. Yearly performance values (e.g. Trailing 3 Years) shown are from the specified period up to Aug 31, 2017.
6 Trailing 1 Year is Aug 31, 2016 to Aug 31, 2017
7 These figures compare the Time Weighted Rate of Return (TWRR) of your account with a benchmark index. "Balanced Growth" refers to a blend composed of 48% S&P 500 TR, 38% Bloomberg Barclays Capital U.S. Aggregate Bond TR, 12% MSCI World Ex US NR USD, 2% Citigroup Treasury Bill - 3 Month. A benchmark is an unmanaged index, and its performance does not include any advisory fees, transaction costs or other charges that may be incurred in connection with your investments and/or managed accounts listed. Any benchmark whose return is shown for comparison purposes may include different holdings, a different number of holdings, and a different degree of investment in individual securities, industries or economic sectors than the investments and/or investment accounts to which it is compared. Investors cannot invest directly into a benchmark or index. All portfolio returns for all periods are expressed in USD. All benchmark(s) returns reflect the same currency as the portfolio returns presented.
8 Benchmark designates 48% S&P 500 TR, 38% Bloomberg Barclays Capital U.S. Aggregate Bond TR, 12% MSCI World Ex US NR USD, 2% Citigroup Treasury Bill - 3 Month. A benchmark is an unmanaged index, and its performance does not include any advisory fees, transaction costs or other charges that may be incurred in connection with your investments and/or managed accounts listed. Any benchmark whose return is shown for comparison purposes may include different holdings, a different number of holdings, and a different degree of investment in individual securities, industries or economic sectors than the investments and/or investment accounts to which it is compared. Investors cannot invest directly into a benchmark or index. All portfolio returns for all periods are expressed in USD. All benchmark(s) returns reflect the same currency as the portfolio returns presented.
9 Returns for greater than one year are annualized.
10 Capital gain/loss data presented here is a general guide and should not be relied upon in the preparation of your tax returns.
11 The Parent Style Summary and the Parent Style Graph display totals for the top Parent Style groupings, smaller Parent Style groupings are combined under the "Other" heading.
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 142 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Data as of August 31, 2017
Disclosure Notes
12 The Group By Equity Distribution By Sector Holdings Report includes only Stocks & Funds Holdings. The Equity Distribution By Sector Summary and the Equity Distribution By Sector Graph include totals from "Multiple Sectors" funds. The Equity Distribution By Sector Summary and the Equity Distribution By Sector Graph display totals for the top Equity Distribution By Sector groupings, smaller Equity Distribution By Sector groupings are combined under the "Other Invest" heading.
13 Parent style classifications are provided by Morningstar, Inc. and mapped into one of the style classifications supported on this platform. Sector information is provided by Morningstar. Bond type and rating information is provided by Interactive Data Corporation.
14 The Asset Class Summary and the Asset Class Graph display totals for the top Asset Class groupings, smaller Asset Class groupings are combined under the "Other" heading.
15 Performance is shown gross of all fees.
16 A benchmark is an unmanaged index, and its performance does not include any advisory fees, transaction costs or other charges that may be incurred in connection with your investments and/or managed accounts listed. Any benchmark whose return is shown for comparison purposes may include different holdings, a different number of holdings, and a different degree of investment in individual securities, industries or economic sectors than the investments and/or investment accounts to which it is compared. Investors cannot invest directly into a benchmark or index. All portfolio returns for all periods are expressed in USD. All benchmark(s) returns reflect the same currency as the portfolio returns presented.
17 Trailing 1 Year indicates the period from Aug 31, 2016 to Aug 31, 2017.
18 "Highest Cost Long Term Lot (For Mutual Fund: Highest Cost Long Term Lot)" is the current accounting method. This method changed from "First-In First-Out (For Mutual Fund: Average Cost)" effective on 2015-02-12.
19 "First-In First-Out (For Mutual Fund: First-In First-Out)" is the current accounting method. This method changed from "First-In First-Out (For Mutual Fund: Average Cost)" effective on 2015-02-12.
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 143 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative.
BOARD ROTATION SCHEDULE
Membership Category
Term Expiration
# of Buses
Name
Term Expiration 2017 1 Dane Cornell Associate NA 2 Frank Henry Charter-Tour 182 3 Craig Lentzsch Charter-Tour 300 4 John Meier Charter-Tour 56 5 Dale Moser Charter-Tour 1654 6 Buddy Young Enterprise 10 7 Butch Beckwith Enterprise 12 8 Gene Berardi Fixed Route 130 9 Steve Woelfel Fixed Route 67 10 David Eaton Tour NA 11 Chris Shepler Travel NA 12 John Percy Travel NA 13 Brad Henton Marketplace Chair NA 14 Peter Pantuso President & CEO NA
Term Expiration 2018 1 Terry Fischer Charter-Tour 37 2 Alan Glickman Charter-Tour 40 3 Francis Tedesco Charter-Tour 795 4 TJ Morgan Enterprise 13 5 Elaine Fickett Enterprise 10 6 Cam Morris Enterprise 13 7 Karen Sanders Enterprise 15 8 Gordon Mackay Fixed Route 50 9 John Miller Fixed Route 91 10 Tom JeBran Fixed Route 63 11 Peter Picknelly Fixed Route 265 12 Bill Blankenship Non Voting 1493 13 Stephanie Parr-Brooks Tour NA
Term Expiration 2019 1 Warren Dickinson Associate NA 2 Bob Foley Associate NA 3 Polina Raygorodskaya Associate NA 4 Doug Anderson Charter-Tour 42 5 Don DeVivo Charter-Tour 83 6 Tony Fiorini Charter-Tour 80 7 Al Spence Enterprise 9 8 Chris Anzuoni Fixed Route 37 9 Michael Colborne Fixed Route 639 10 Steve Haddad Fixed Route 64 11 Jim Jalbert Fixed Route 27 12 Ron Moore Fixed Route 40 13 Linda Burtwistle Non Voting 1654 14 Bryan Cole Tour NA 15 Mike Butts Travel NA 16 Mikie Coffman Travel NA 17 Stephanie Lee Travel NA 18 Linda Spruill Travel NA
Honorary 1 Thomas Morgan NA 2 Woody Blunt NA 3 Ron Eyre NA
144 BOARD ROTATION SCHEDULE
ROTATION SUMMARY STATISTICS
Member Type Current Members Expiration Category # of Directors (Max/Min) 2017 Associate 1 Associate 4 (max 6) 2017 Charter-Tour 4 Charter-Tour 10 (min 6) 2017 Enterprise 2 Enterprise 7 (min 6) 2017 Fixed Route 2 Fixed Route 11 (min 6) 2017 Non Voting 0 Travel 6 (max 6) 2017 Tour 1 Tour 3 (max 6) 2017 Travel 2 Honorary 3 (min 1) 2017 Marketplace 1 Marketplace Chairman 1 (min 1) 2017 President & CEO 1 Non-Voting 2 (max 4) TOTAL 14 President & CEO 1 (min 1)
Expiration Category # of Directors TOTAL VOTING 46 (max 50/min 35) 2018 Associate 0 2018 Charter-Tour 3 TOTAL MEMBERS 48 2018 Enterprise 4 2018 Fixed Route 4 2018 Non Voting 1 2018 Tour 1 2018 Travel 0 TOTAL 13
Expiration Category # of Directors 2019 Associate 3 2019 Charter-Tour 3 2019 Enterprise 1 2019 Fixed Route 5 2019 Non Voting 1 2019 Tour 1 2019 Travel 4 TOTAL 18
Expiration Category # of Directors 2017-2019 Associate 4 2017-2019 Charter-Tour 10 2017-2019 Enterprise 7 2017-2019 Fixed Route 11 2017-2019 Non Voting 2 2017-2019 Tour 3 2017-2019 Travel 6 2017-2019 Honorary 3 2017-2019 Marketplace Chair 1 2017-2019 President & CEO 1
TOTAL 48
TOTAL VOTING 46
145 2018 Proposed ABA Executive Committee
Terms that end in January 2018: -John Meier, Board Chairman -Don DeVivo, Board Vice Chairman -Tom JeBran, Immediate Past Chairman -Tony Fiorini, Charter & Tour Representative -Buddy Young, Enterprise Representative -Alan Glickman, At-Large - Peter Pantuso, President & CEO
Board Board Expiration Committee Committee Expiration Committee Committee Expiration Office Officers Date Position Member Date Position Member Date Board John 2018 Policy Jim Jalbert 2019 At-Large Alan 2018 Chairman Meier Committee (2 yr term) Glickman (3rd term) (3 yr term) Chair (6 yr max) Don 2021 (2 yr term) Karen 2020 DeVivo Sanders (1st term)
Board Vice Don 2018 Fixed Route Ron Moore 2019 At-Large Steve 2019 Chairman DeVivo Representative (3rd term) (2 yr term) Haddad (2nd term) (3 yr term) (2 yr term) (6 yr max) Gene 2021 (6 yr max) Berardi Immediate Tom 2018 Charter & Tour Tony 2018 At-Large Gene 2019 Past JeBran Representative Fiorini (3rd term) (2 yr term) Berardi (2nd term) Chairman (2 yr term) (6 yr max) (3 yr term) John 2021 (6 yr max) Terry 2020 Vacant 2020 Meier Fischer (1st term)
Executive Craig 2018 Enterprise Buddy 2018 At-Large Chris 2019 Committee Lentzsch Representative Young (2 yr term) Shepler (1st term) Treasurer (Acting (2 yr term) (1st term) (6 yr max) (1 yr term) Treasurer) (6 yr max) Buddy 2020 John 2019 Young Miller (2nd term) ABA Peter 2018 President & Pantuso 2019 CEO (1 yr term)
(2) Term Limited Members:
Tony Fiorini Alan Glickman
146
Last Name First Name Company Audit Auto BUSPAC By-Laws Comms Enviro Ethics Exec Finance & Budget Governance Gov't Affairs & Policy Membership Marketplace Strategic Safety Time & Place GroupConnect Technology Anderson Douglas Anderson Coach & Travel X X X X X X X X Anzuoni Chris Plymouth & Brockton X X Vice-Chairman Berardi Eugene Adirondack Trailways At-Large Chairman X X Chairman X Blankenship Bill Greyhound Lines X Guest X X Blunt Ben Concord Coach Lines X X X X X Blunt Harry Concord Coach Lines X Burtwistle Linda Coach USA X X X Butts Mike Visit Charlotte X X X X Coffman Mikie Ride the Ducks Seattle X X X X X Colborne Michael Pacific Western X X X X X Cole Bryan Super Holiday Tours X X X X X X X Conway Julia Big Bus Tours USA X X X Cornell Dane ABC Companies X X X X X DeVivo Donald DATTCO Inc. Chairman X Ex-Officio Ex-Officio Ex-Officio Ex-Officio Ex-Officio Vice-Chairman Ex-Officio Ex-Officio X Chairman Ex-Officio Ex-Officio Ex-Officio X X Dickinson Warren Bridgestone X Eaton David Conway Tours X X Vice Chairman X X Eyre Ronald Eyre Bus Service Fickett Elaine H&L Charters X X X X X Fiorini Anthony Silverado Stages Charter-Tour Representative X X X X Fischer Terry Transportation Charter Services X X X X X X Foley Bob CH Bus Sales X Glickman Alan Starr Bus Charter and Tours X At-Large X X Chairman Haddad Steven Bieber Transportation Group At-Large X Chairman X Henry Frank Martz Group X X X Henry Scott Martz Group X X X X Jalbert James Jalbert Leasing Inc. X Policy Committee Chair X X Chairman X JeBran Tom Trans-Bridge Lines Immediate Past Chairman X Chairman X X Johnson Daryl J & J Tours and Charters X X X Lee Stephanie Group Sales Box Office X At-Large X Lentzsch Craig Treasurer Treasurer Treasurer X X X Mackay Gordon Indian Trails Inc. X X X X Meier John Badger Coaches Inc. Ex-Officio Ex-Officio Ex-Officio Ex-Officio Ex-Officio Ex-Officio Ex-Officio Chairman Ex-Officio Ex-Officio X Ex-Officio Ex-Officio X Ex-Officio X Miller John Miller Transportation X X X X X X Moore Ronald Burlington Trailways X X X Fixed Route Representative X X Morgan Thomas Citizen Auto Stage X Morgan TJ Citizen Auto Stage X X Chairman X X Morris Camilla Oneonta Bus Lines X X X X X Moser Dale Coach USA X Guest X X Pantuso Peter American Bus Association X ABA President & CEO X X X X Parr-Brooks Stephanie Globus X X X X X X Percy John Niagara Tourism & Convention Corp. X X X X X Picknelly Peter Peter Pan Bus Lines Chairman X Raygorodskaya Polina Wanderu X X X X X Sanders Karen Bus Supply Charters X X X Shepler Chris Shepler's Mackinac Island Ferry At-Large X X X X X Smart Ian Motor Coach Industries X X X X Spence Albert A.S. Midway Trailways Chairman X X Spruill Linda Beau Rivage Resort & Casino X X X X X X Tedesco Francis Academy Bus LLC Guest X X Torres Bill DC Trails X X Tremblay François Prevost X Woelfel Steven Jefferson Lines X X X X Young Charles Capitol Bus Lines X Chairman Enterprise Representative X X
Other Members Bast Ron Go Riteway X Blunt Woody Concord Coach Lines Inc. X Borwege Brenda ABC Companies X Bowman Vicki Motor Coach Industries X Butcher David Riteway Bus Service Crean Chris Peter Pan Bus Lines X Diebel Jim Hanover Holiday Tours X DeVivo Kyle DATTCO X Evans Stephen Pacific Western X Eyre Matt Eyre Bus, Tour & Travel X Gillis Joe Northwest Navigator Luxury Coaches X Gilbert Rich MD Office of Tourism X Grunwaldt Peter Premier Alaska Tours X Haines Sandy Myrtle Beach Area CVB X Hamlin Sara Greater Birmingham CVB X Hotard Louis ABC Companies X Hughes Sean Coach USA/MegaBus.com X Kestenbaum David University of Vermont X Kester Randy Burlington Trailways X Knappen Ted Greyhound Lines X Lesniak Jamie C & J Lines X Lloyd Patti Cape Cod CVB X X McCloud Carmen IHG X McDonal Mike Eyre Bus Meador Don Landmark Hotel Group X Norris William Jefferson Lines Picknally Tom Peter Pan Bus Lines X Plaskett Kim Greyhound X Plodzeen Pat Motor Coach Industries X Powell Danielle Anderson Tour & Travel X Riccio Scott NorthEast Trailways X Riddell Chris Motorcoach Marketing Council X Sanborn Mark Concord Coach Lines Inc. X Schwarz Bob Highway Users/Greyhound Lines X Schweitzer Richard ABA Counsel X Sharff Mike Peter Pan Bus Lines X Shelbo Peter Tour West America, Inc X Skiver Heather Holiday Tours X Smith Al Greyhound Lines Inc. X Spencer Jackie Destination Cleveland X Stout Shawn Stout's Charter Service Tedesco Gregory Academy Bus X Yates Stacey Louisville CVB X Ziska Patricia Motor Coach Industries X
147
2017 TIME & PLACE REPORT
FUTURE BOARD MEETINGS
Fall Board Meeting 2017 Oct. 23 – 27, 2017 Radisson Blu Antwerp/BusWorld Antwerp, Belgium
Spring Board Meeting 2018 May 2 – 4, 2018 Marriott Marquis Washington, DC
Fall Board Meeting 2018 Sept. 23 – 25, 2018 The Fairmont Mission Inn & Spa Sonoma, CA
Spring Board Meeting 2019 May 1 – 3, 2019 Capital Hilton Washington, DC
Marketplace Board Meeting 2019 Jan. 25 – 26, 2019 Louisville, KY
Fall Board Meeting 2019 Sept. 22 – 24, 2019 The Breakers Resort Palm Beach, FL
Marketplace Board Meeting 2020 Jan. 10 – 11, 2020 Omaha, NE
Marketplace Board Meeting 2021 Jan. 29 – 30, 2021 Baltimore, MD
FUTURE MARKETPLACE MEETINGS
American Bus Marketplace 2018 Jan. 26 – 30, 2018 Charlotte, NC
148 American Bus Marketplace 2019 Jan. 25 – 29, 2019 Louisville, KY
American Bus Marketplace 2020 Jan. 10 – 14, 2020 Omaha, NE
American Bus Marketplace 2021 Jan. 29 – Feb. 2, 2021 Baltimore, MD
ADDITIONAL MEETINGS
BISC West in conjunction with California Bus Association Oct. 17, 2018 Alpine, CA
BISC Winter Meeting Jan. 27 – 29, 2018 Charlotte, NC
BusMARC Winter Meeting Jan. 28 – 30, 2018 Charlotte, NC
BISC Summer Meeting June 26 – 27, 2018 Baltimore, MD
149 ABA Communications Board of Directors Report Melanie Hinton/Fall 2017 Introduction: It has been a successful and busy summer for ABA Communications. We launched two campaigns over the summer targeting consumers, as well as members, and promote ABA’s Crisis Communications member benefit with a mailing to all operator members as well as hosting two webinars. I have developed a 2017-2018 Communications Strategy that reflects the priorities laid out in the Strategic Plan, not only for the communications team but how communications can help others achieve their goals as well. (strategy attached). Promoting ABA We launched two consumer-oriented campaigns this summer: Our Roads, Our Safety Partnership with FMCSA, American Truckers Association (ATA) and AAA and a #BusesKeepYouMoving social media campaign for the Northeast and Mid-Atlantic Amtrak corridors while work was being done at New York’s Penn Station. This project has been dubbed the #SummerOfHell by NY Gov. Andrew Cuomo. We also encouraged members to follow ABA on social media as well as post the ABA logo on their websites to showcase their membership. Our Roads, Our Safety Partnership For nearly a year, ABA has been leading the charge on a partnership with FMCSA, ATA and AAA to promote as a surface transportation industry, safe driving on the roads around Commercial Motor Vehicles. FMCSA last August launched the campaign Our Roads, Our Safety. I have been talking about this partnership for some time now. I am happy to report that we launched the partnership and our first of three safety videos at the end of June. ABA and our partners have been promoting the safety campaign on social media, our websites, our members and to the media. The initial report on the number of hits we all have generated has been positive. We have had more than 405,000 impressions and we have seen that the average time of people staying on the webpage has been 37 seconds (the length of the video). Our next video – Wide Turns – debuted in early September and the third video will be released around the Thanksgiving travel season. We encourage you to share our social media posts on the campaign and utilize the materials on the FMCSA website. We were contacted by other transportation associations who want to join in this partnership. We have welcomed the Owner Operator Independent Drivers Association (OOIDA), the National American Fleet Association (NAFA) and the American Driver & Traffic Safety Education Association (they will be incorporating our videos and materials into their training modules.). The Secretary of Transportation Elaine Chao has made this FMCSA’s number one safety campaign, so look for more materials, videos, events and signs in the top 10 states for traffic accidents. Next steps for ABA will be inviting all of our State and Regional Motorcoach Association colleagues to participate in sharing this campaign. And the partnership will be deciding the next group of safety messages at its October meeting. #BusesKeepYouMoving
150 Early summer saw news articles coming out of New York city about Amtrak and subway customers being stranded on trains during their commutes as well on different points coming into and leaving the city as NY’s Penn Station begins renovations. Gov. Cuomo dubbed this project the Summer of Hell. Those of us in Washington can empathize as our Metro is finishing up a year of “safe tracking” repairs to try and fix our metro system. To take advantage of the situation in a way to promote our many members who travel to NY either on scheduled runs or charters, we created an answer to #SummerOfHell: #BusesKeepYouMoving. When we saw a news article about the renovation project, we posted on social media and recommended that people to take the bus instead. We targeted commuters from Richmond, Va., up to Boston. We garnered some positive feedback and saw our social media numbers grow. I also reached out to reporters covering the issue to encourage them to report there are other means of transportation into the city, such as buses. This campaign ran through the end of August. To date, we had more than 121,872 impressions on posts. Crisis Communications While we had a relatively quiet summer regarding bus accidents, ABA put forth a campaign to educate our bus and tour operator members about ABA’s Crisis Communications member benefit. We mailed a flier to members laying out what to do in a crisis. Melanie Hinton participated in two webinars focused on crisis communications and social media. We will continue to remind members of this free member benefit and contact members when we see alerts about incidents. New At A Glance Weekly Series In late July, ABA began a partnership with TourOperatorLand.com to highlight ABA member DMOs and CVBs in the Insider and on ABA’s website and TOL to send out weekly emails highlighting these members and ABA’s Annual Meeting & Marketplace. As of Sept. 11 we have highlighted Gettysburg, Pa.; Greater Palm Springs, Calif.; Memphis, Tenn.; Sacramento, Calif.; Oklahoma City, Okla.; Asheville, N.C.; Mississippi; and Louisville, Ky. Show Your ABA Membership with Pride In late July, ABA did a push for its members to showcase their ABA membership by placing the ABA logo on their website and company materials. With that initial push we sent dozens of companies the ABA logo to use. We also asked members to follow ABA on social media so they can keep up on all the latest ABA news and trends. This has proved a successful campaign and will be repeated throughout the year.
Government Affairs & Policy: We have been quite busy on the legislative and regulatory side of the association. Early in the summer, ABA joined other travel industry associations to show support a number of travel and tourism issues, such as: funding cuts for Brand USA; funding cuts for state tourism offices; and visa processing issues. ABA also made several statements regarding FMCSA regulation updates and findings; Intercity Bus Security Grant program funding; and other issues affecting the motorcoach industry. Several of ABA’s statements were highlighted in Capitol Hill news organizations such as Politico and the Hill. Here are a few highlights:
151 Bus Association Concerned over Federal Motor Carrier Safety Administration Rule Change Transportation Today Aug. 8, 2017
The American Bus Association (ABA) recently expressed concern over changes proposed by the Federal Motor Carrier Safety Administration (FMCSA) to rules governing lease and interchange.
“Our industry strongly supports efforts to ensure safety for our more than 600 million annual passengers,” ABA President and CEO Peter Pantuso said. “While we absolutely support the need to remove ‘bad actors’ from our nation’s roads, we should not penalize good, compliant carriers with unnecessary, ineffective leasing requirements. We appreciate the FMCSA for taking steps to make certain [it] get this rule right, but urge the agency to ensure our members and the industry as a whole have a voice in the process. We want to help FMCSA, but confusing and nonspecific notices do not allow our members to respond thoroughly.”
Politico July 14, 2017 DEMS WARN OF PUBLIC TRANSIT SOFT TARGETS
Democrats on the Senate Homeland Security and Governmental Affairs Committee issued a report laying out how Trump's request to cut funding for public transit security to help fund a U.S.-Mexico border wall could leave the United States "highly vulnerable to terrorist attacks." Trump's fiscal 2018 budget proposal would slash $52 million for public transportation security assistance — exactly the kind of "soft targets" terrorists increasingly hit, Democrats noted. The administration has also proposed reducing TSA's VIPR teams from 31 to eight. VIPR teams are deployed to airports and transit stations. "Budgetary cuts of this magnitude to a variety of important counterterrorism efforts will have significant negative impacts," according to the report.
ABA chimes in: The House Appropriations Homeland Security Subcommittee approved a fiscal 2018 DHS spending bill earlier this week, and the American Bus Association is pressing appropriators to include at least $10 million in funding for the Intercity Bus Security Program in the bill. There is currently no funding in the bill for that program. "As with public transit operators and Amtrak, our industry should be equally prepared to mitigate these threats and respond to emergency situations, especially when these modes operate at shared terminal facilities," ABA said in a letter sent to the House Appropriations Committee.
Politico June 2, 2017 FMCSA opting not to increase bus liability coverage requirements
The Federal Motor Carrier Safety Administration announced today that it will withdraw a proposal to increase the amount of compensation for victims of bus and truck crashes. FMCSA first issued a notice of advanced rulemaking in 2014 saying it was considering hiking the minimum levels of liability insurance coverage required for buses and trucks. The levels are currently set at $5 million for buses and $750,000 for trucks.
But the agency announced this morning that it is now withdrawing the notice, citing a lack of evidence to support the economic benefits of providing more compensation for crash victims.
"FMCSA has determined that it has insufficient data or information to support moving forward with a rulemaking proposal, at this time," the agency said, according to a notice issued today.
152 The proposal to increase the insurance requirement has been supported by consumer safety groups. However, the American Bus Association has opposed the measure, saying it should be left up to individual carriers to decide what levels of insurance to carry. The group applauded FMCSA's decision to withdraw the proposal.
Trump Budget Kills Program Meant to Boost US Tourism The Hill May 23, 2017
While the president’s budget is mostly just a messaging document and is unlikely to become law, travel advocates are sending a warning message about the impacts of gutting Brand USA.
"We find the Administration’s decision to discontinue funding of Brand USA to be short-sighted," said Peter Pantuso, president and CEO of the American Bus Association.
"This proposal, coupled with executive order 13780, sets a dangerous precedent for the travel and tour industry in the United States, especially at a time when the growth of international tourism to the U.S. has slowed. The international tourism industry is key to President Trump’s number one priority — economic growth.”
ABA Annual Meeting & Marketplace 2018 The Communications team has spent the summer building excitement about the 2018 ABA Annual Meeting & Marketplace. We have created a strong social media campaign highlighting the show with Marketplace Mondays, Wayback Wednesdays and Throwback Thursdays. We have also invited our speakers to create videos promoting their sessions and Marketplace this year and will utilize these videos, along with the videos we captured last year, throughout the campaign. We have created a social media campaign to promote membership in ABA targeting two different groups: operators and travel and tourism attractions. Each of these campaigns will highlight why ABA is the best association to join as well as how Marketplace is the show they need to attend. November and December ads will be focused on Marketplace. Membership: Working closely with the membership team, I have identified a number of ways we can promote our members more and in turn recruit new members. In early September we launched a social media ad campaign focusing on two groups: operators and tour and travel. We have designed ads that will speak to each group about the benefits of ABA. We have also partnered with a few industry trade publications to place ABA ads and articles that promote ABA. As part of the social media campaign, we created a video that tells the membership story. This video will be on ABA’s website as well as different member groups on social media. Early in the summer, ABA did a call for Heroes of the Industry stories asking members to tell us about the Corporate Social Responsibility. We have collected a number of stories which we will begin promoting as articles in the Destinations magazine starting with the Jan/Feb 2018 issues.
153 ABA also helped with coordination efforts during post-Hurricane Harvey evacuations and clean-up efforts. Utilizing ABA’s network we were able to help spread the word about the hurricane, areas affected and call for companies to help with evacuation efforts. We will continue to meet regularly with the Membership Department on innovative ways to grow membership through our communications outlets.
Activities: Media Engagement: Over the summer, ABA sent out 13 statements and comments regarding government action as well as highlighting ABA success such as ABA’s Annual Meeting & Marketplace numbers from Cleveland and announcing ABA Foundation’s Scholarship winners. Peter also did a number of interviews with Sirius XM’s Road Dog Trucker, Washington Post, Politico, New York Times, Wall Street Journal and Associated Press. One of the highlights of media engagement this summer was responding to an article in School Bus Fleet magazine that stated that school buses were safer than motorcoaches. We questioned the assessment and received positive responses on social media from ABA members and non-members who were appreciative of ABA “sticking up for the industry.” ABA was the only association that responded to this article. Media Statements: Since May, ABA has sent out 13 press releases regarding the Annual Meeting & Marketplace, happenings within the government affecting the industry, including expressing worry about how President Trump’s travel ban will affect the motorcoach, travel and tourism industry. ABA Calls on FMCSA to Clarify Notice on Lease and Interchange Rules
ABA Calls on Senate Homeland Security Appropriators to Fund Intercity Bus Security Grants
ABA Raises Concern over Visa Processing Times in Letter to President Trump
ABA Statement Regarding Budget Cuts to Missouri’s State, Local Travel and Tourism Offices
ABA Urges Restoration of Intercity Bus Security Grant Program Funds
ABA Supports NAS Findings on FMCSA Crash-risk System
ABA Joins Transportation Industry Partnership to Promote Safety for All Drivers
ABA’s Annual Meeting & Marketplace Gives Attendees more than 100 Million Reasons to Attend
FMCSA to Revise Lease and Interchange Rules, Extends Compliance Date to 2019
ABA Foundation Announces 2017-2018 Scholarship Winners
ABA Supports FMCSA Withdrawal of Insurance ANPRM for Motorcoaches, Others
154 ABA Responds to Article in School Bus Fleet Stating Motorcoaches are Unsafe
ABA Statement on White House Proposal to Eliminate Brand USA
Media Hits: In addition to the Hill and Politico hits mentioned above ABA was quoted in a Washington Post article about start-ups utilizing crowdsourced bus service. Start-ups Find Footing with Crowdsourced Bus Service in Cities with Ailing Transit Washington Post Luz Lazo Sept. 2, 2017
Social Media Activities We have been utilizing our social media channels more with the #ABAWorkingForYou campaign, highlighting our members with “National Days” each week and promoting the benefits of being a member of ABA as well as attending ABA events. This year we have been utilizing videos taken at ABA’s Annual Meeting & Marketplace to promote ABA’s Councils, meetings and ABA work in general. These videos have proved to be quite popular with followers. We also relaunched ABA’s Instagram page in August. Because of our increase engagement and use of social media networks, we have seen our social media audience and interaction continue to grow: Facebook: 4624 in April to 4770 now (as of Sept. 1) (+547 since June 2016) Twitter: 3674 in April to 3807 now (as of Sept 1) (+431 since June 2016) LinkedIn: 3532 in April to 3560 now (as of Sept 1) (+ 120 since June 2016) Instagram: 397 as of Sept. 1 To put in context our competitors’ social media numbers are: United Motorcoach Association Facebook: 1878 as of Sept 1 Twitter: 1091 as of Sept 1 National Tour Association Facebook: 4864 as of Sept 1 Twitter: 10.5k as of Sept 1
Website Update: ABA continues to improve our website to ensure a user-friendly experience for our members and visitors. In June, we launched our Education portal which placed all of ABA’s education offerings in one easily recognizable place. We also launched our ABA Entry Level Driver Training program, which is the leading educational opportunity in the Education section.
155 You will notice as you move throughout the site, more videos are on the site. We are utilizing the great footage we have received from Terrapin Blue taken during Marketplace, Hill Day and BISC.
Crisis Communication In 2017, ABA has assisted the following companies with Crisis Communication needs: Storer Coachways (1/4-1/5) Burlington Trailways (2/24) Transportation Charter Services (5/5) First Class Tours (5/9) Werner Coach (5/15) Miller Transportation (7/22-26) Chicago Classic Coach (8/2)
156 ABA Communications Strategy
“Promoting ABA as the trusted leader representing the motorcoach, travel and tourism community”
INTRODUCTION
This document outlines the 2017-2018 ABA Communication Strategy, which reflects the goals of the Association to be the trusted leader representing and supporting the motorcoach, travel and tourism community.
Our mission statement:
ABA is committed to maximizing the success of its motorcoach, tour and travel members by: • Representing the industry in the government policy arena; • Facilitating industry buyer-seller interface; • Supporting industry through engagement, research and education of members to help improve their success.
CONTEXT
Priorities & Objectives
The ABA Board of Directors set out the Strategic Goals of the Association:
ABA's Strategic Goals:
1. Provide a unified, influential voice with a focus on key issues impacting our members 2. Engage and grow ABA membership 3. Deliver the leading Marketplace for member buying/selling 4. Support the work of the ABA Foundation 5. Communicate information to advance the motorcoach and travel industry 6. Evolve the ABA organization’s capabilities to meet member needs.
This provides the framework for all our proactive communication activities.
The Strategy will be shaped by core principles and add emphasis on relationships and partnerships, accountability, and results:
• Focus on clear objectives and key audiences: What do we want to achieve, who are we talking to, and what do they need?
• Cultivate partnerships with media, regulating agencies, and other associations in the transportation, travel and tourism industry: Explore opportunities for more frequent, less formal engagement
• Ensure even greater cooperation and sharing of best practices between the national association and state associations: Share plans, messages, event ideas, and results
• Develop qualitative metrics for tracking results and success: Has membership grown? Is the favourability of ABA higher with members and inside the industry than competing organizations? Are we seeing increased media mentions and requests?
157 Based on these strategic goals, we will pursue five strategic communication campaigns:
Advocacy: Drive legislative and regulatory oversight framework at all government levels to eliminate obstacles and promote the success of our industry.
To help Advocacy achieve their objective, Communications will:
• Work with Advocacy team on priorities and develop strategies built around them to enhance Advocacy’s impression on influencers.
• Promote Advocacy efforts through email and social media channels to inform and engage members in advocacy efforts.
• Deliver to Advocacy a website that educates members, government officials and decisionmakers on issues important to ABA and the industry.
• Help build coalitions with other associations and government agencies to promote industry’s safety and security objectives as well as ABA’s reputation and influence on Capitol Hill and governing agencies.
• Develop media-ready statements on issues that ABA has taken a stance on. Utilize relationships with trade and mainstream media to promote ABA’s voice on issues.
Membership: Continue overall membership growth with focus on all segments of the motorcoach, tour and travel industry.
To help Membership achieve their objective, Communications will:
• Work with Membership team to continue to design and implement strategies that compliment membership sales team’s objectives.
• Promote ABA as the only association businesses in the motorcoach, tour and travel industry need to belong to by publicizing ABA’s story, benefits, etc.
• Showcase ABA’s breadth and reach in the industry by showcasing ABA’s presence and leadership at conferences and meetings across the country. #ABAEverywhere #ABAWorkingForYou
• Produce content to promote ABA benefits for hard mailings, emails and social media content to reach a larger audience of potential members. Utilize social media for an ad campaign targeting audiences that are in the industry or want to be a part of the industry.
• Promote ABA members to others in the industry and consumers to showcase how ABA helps members business.
Annual Meeting & Marketplace: Deliver the leading marketplace for member buying/selling.
To help Meetings achieve their objective, Communications will:
• Work with Meetings to develop strategies and partnerships to help sell the Annual Meeting & Marketplace to a wider audience and lead to member recruitment.
• Communicate the benefits of attending the show geared to different segments.
158 • Utilize social media ad campaign to target potential attendees
• Promote the show and the value on social media channels and publications.
• Develop attendee referral videos to use throughout the year.
• Utilize speakers as Ambassadors for the show, have them create videos.
• Develop a user-friendly, engaging show website.
ABA Foundation: Support the work of the ABA Foundation
To help the ABA achieve its objective of supporting the ABA Foundation, Communications will:
• Work with Foundation team on strategies to best engage members on both the scholarship side and research side of priorities.
• Communicate the industry’s impact utilizing the Foundation’s research data to help enhance advocacy efforts, support membership and build ABA’s reputation.
• Work with the Foundation team on communications such as press releases, letters and solicitations, and promotions.
• Promote the Foundation’s fundraising efforts through social media channels and publications utilizing videos, blogs and announcements.
Publishing, Communications and Social Media: Communicate the value ABA contributes to the industry and its members.
• Develop strategies for major ABA programs and refine strategies as need to create the biggest impact on members and influencers.
• Develop positive relationships with trade and mainstream media to establish ABA as the industry leader and go-to resource on all things related to motorcoach, travel and tour issues.
• Maintain and deliver a portfolio including online publications, magazine, membership directory that add value. This will be measured by annual survey. Goal is to keep satisfaction rate above 80 percent.
• Utilize all media channels including traditional print publications, digital and social media to promote ABA, its membership and the industry's impact.
• Create the right content to match member needs/interests to promote member awareness and engagement. One message does not fit all. Will develop messaging on all programs and events geared to motorcoach operators and the travel and tourism members.
• Provide media support to members dealing with a crisis. Will contact or respond to all members involved in any form of crisis and offer to handle the media for them.
• Grow social media channels members by engaging ABA members and potential members on through advertisements, interesting posts and responding to members when they comment.
• Maintain a provocative website to encourage people to stay on longer and act as a resource for all things ABA and in the industry.
159 • Promote ABA its story, and benefits of membership to attract new members as well as engage current members across all media platforms.
Resources & Tools
While we are a small association, we have great wealth of resources in terms of knowledge, publications and members. We should leverage our members into a community that is readily available to respond to media inquiries as well as calls to action on Capitol Hill.
We have our digital social tools as well as the traditional tools for outreach to our constituencies such as the ABA website, LinkedIn, Twitter, Facebook, and media databases.
We will seek to expand our efforts further this year by:
• Mobilizing and utilizing ABA Communication, GAP and other committees as well as our Councils. • Developing deeper and more productive relationships with both mainstream and trade journalists. • Continuing to enhance our digital and online activity, through new innovations. • Utilizing a database of industry statistics to be a resource library about the impact of the motorcoach, travel and tourism industry on the U.S. economy.
Working Across the Network
The network of state associations should be vital to our influencing agenda in the industry and outside constituencies (i.e. media and Congress). We need to continue cultivating the relationships and membership with the state associations so they are on board with our marketing and communication activities, as well as political grassroots.
We will maximize the benefits of working together across the country as we deliver this strategy; but we will also need to recognize that the specific activities of each individual state association in delivering this strategy will be different, in line with their local context and the opportunities which it offers.
160
2017 FALL BOARD REPORT MEETINGS, EDUCATION AND MEMBER SERVICES DEPARTMENT Submitted by Lynn M. Brewer
DEPARTMENT OVERVIEW
This department is responsible for all meetings, sponsorships, membership programs, member services, data management, and education programs:
• ABA’s Annual Meeting & Marketplace • Membership Marketing, Recruitment, Growth and Retention • Membership Benefits, Strategic Partners and Premium Partners • The Motorcoach Marketer Membership Directory • Management of the Association Database • Board of Director Meetings • Marketplace Advisory Committee and Subcommittees • Marketplace Education Program • Certified Travel Industry Specialist Program • ABA’s Membership Committee • Bus Industry Safety Council (BISC) Meetings • Bus Maintenance and Repair Council (BusMARC) Meetings • Florida Motorcoach Association Meetings • Hispanic Motorcoach Council Meetings • Entertainer Motorcoach Council Meetings • Regional and Training Meetings • Sponsorships for all Association Activities • Women in Buses Council • Management of Partner Programs • Webinar Program
Reorganized departmental duties in response to staff resignation as well as AMS prep. Staff members include:
Lynn Brewer, Sr. Vice President, Meetings, Education and Member Services Vicki Osman, CTIS, Sr. Director, Education, Database and Member Services Jana Fields, Sr. Director, Sponsorships and Meeting Planning Roderick Lewis, CTIS, Director, Membership and Business Development Allison Brewer, CTIS, Manager, Membership Sales and Promotions Ashley Bowen Thomas, Coordinator, Database Management & Member Services Izza Qureshi, Coordinator, Member Engagement
161 2018 ANNUAL MEETING & MARKETPLACE JAN. 26 – 30, 2018 CHARLOTTE, NC
2018 Marketplace Advisory Committee Chairman: Terry Fischer, Transportation Charter Services Tour Operator Rep: Tish Losure, Brilliant Edventures Tour Operator Rep: Erin Curry, CTIS, Appian Tours Tour Operator Rep: Anbritt Stengele, Sports Traveler Canadian Rep: Ryan Elliott, Banff Lake Louise Tourism At Large Rep: Ted Goldenberg, Chapman Cultural Tours At Large Rep: Alexia Edge, Ripley Entertainment At Large Rep: Bud Geissler, Travel Insured DMO Rep: Reagan Stulbaum, NYC & Co. Attraction Rep: Matt Luckett, Buca di Beppo & Planet Hollywood International Hotel Rep: Jason Wood, TravelAdvocates Volunteer Liaison: Misty Martinchek, Shepler’s Mackinac Island Ferry Resource Central Chair: JoAnn Moltz, Universal Orlando Resort Orientation Chair: Stacey Warren, Hampton Inn Chicopee Education Chair: Kim Grzywacz, CTIS, CIT Signature Transportation
The Marketplace Advisory Committee and Subcommittees (Orientation, Education and Resource Central) met in Charlotte in March to develop their timeline and goals for Marketplace 2018.
Registration (MKPL 2018 numbers are as of Sept.1; the others are as of Aug.15) MKPL MKPL MKPL MKPL 2018 2017 2016 2015 OPERATORS 591 463 471 447 BUYERS with Appts 270 246 272 265 DMO’s 372 326 369 357 LODGING 266 256 262 271 ATTRACTIONS 447 389 419 373 REC OP/CHARTER OP 85 69 69 61 ASSOCIATES 85 70 84 33
TOTAL 1860 1593 1693 1573
162 ABA’s Annual Meeting & Marketplace Activities • 4 Pre-FAM’s and 2 Post-FAM’s • Saturday: 7 Sightseeing Tours • Saturday Night: Explore Charlotte on your own • Sunday Night: NASCAR Hall of Fame Evening Event • Monday Night: Dine Around Charlotte • Monday Night: ABA Foundation Afterglow at Whisky River • Tuesday Night: Louisville Kentucky Red Hot Closing Night Celebration • IMG will hold their Maintenance & Safety Forum in Charlotte. • We have invited 31 partners to join us at Marketplace.
ABA Gives Back Formerly Marketplace Gives Back Since Marketplace 2007, ABA Gives Back has raised more than $347,000 for local charities. For 2018, the Marketplace Advisory Committee chose The Isabella Santos Foundation, which was founded in honor of Isabella Santos who was diagnosed with Neuroblastoma at the age of two. Neuroblastoma is a rare cancer that affects approximately 750 children a year, with the survival rate of less than 40%. Isabella battled the disease for five years, but due to the lack of funding for pediatric cancer, she sadly lost her battle. The Isabella Santos Foundation continues in honor of Isabella’s mission to find a cure for pediatric cancer. We are working with the charity to find ways to raise awareness and money for this local charity.
Marketplace Registration Registration Goals: • Number of Operators = 800 • Number of Appointment-taking Buyers = 325 • Number of Sellers = 1850 • We are conducting numerous campaigns to encourage new Motorcoach and Tour Operators to attend Marketplace. • Registration opened April 26-27 for all membership groups. • We will continue to offer complimentary meeting space, meeting services and registration to all ABA partners in the hopes that they will hold meetings at Marketplace 2018.
New This Year • Dine Around night has been moved to Monday to give DMO’s a better opportunity to host more operators and have more participation from their travel partners. • We have revised the registration fee structure to be based on Business Floor access and also to be less confusing for the attendees. • The online registration system and Attendee Passport have been modified and updated. • We are exploring the possibility of offering electronic mailboxes for Seller profile sheets. We will keep the folders we currently provide to the operators. • We have contracted 20 professional speakers for our breakout sessions, education bites and webinars. • The Webinar series has been expanded and will feature a monthly speaker on these topics: Productivity, Branding, SEO, Social Selling, Outlook, Tradeshow Tips, Gmail, Presentation Skills, First-Time Attendees, Mobile Technologies, Experience Selling, and Leadership. • Sightseeing tours and housing opened Aug. 21. • The research databases will open Sept. 21 and requests begin Sept. 28. • The Orientation subcommittee will offer pre-show webinars, a mentor program and newsletters.
163 Sponsorships • 90 sponsor renewal contracts were sent for 2018. Already, more than 60 sponsors have renewed their contracts. • The 2017 sponsors who have not returned their contracts have sited budget cuts and are waiting on approval. This has occurred with more contracts this year than in the past. • We have added several new Business Floor sponsorships based on their success last year: Operator Coffee, a Phone Charging Station and a Recovery Station. • We are also offering the Webinar Series as a year-long sponsorship opportunity. • Currently, we have one operator breakfast, one luncheon and the closing evening event sold. We are working on sponsors for the Sunday and Tuesday breakfasts and the luncheon on Tuesday. • We have developed a package for the Tuesday luncheon that will allow multiple sponsors to host the lunch for a low sponsorship fee. • We continue to explore new sponsorship opportunities and creatively add new sponsorships in all price ranges. • We are aggressively looking for new sponsors. We are targeting new members and categories of membership weekly with sponsorship information and phone calls. • We have had several calls from new sponsor prospects who want to sponsor to have a booth on the Networking Floor. • We currently have 4 new sponsors: • US Tours – Education Speaker • South Dakota Dept. of Tourism – Networking Floor Reception • Iowa Group Travel Association – Operator Gift (Level 2 with a booth) • Cabarrus County – Operator Gift (Level 1 with no booth)
Housing • Housing opened on August 21, 2017. • We are offering nine hotel properties, all within the downtown area of the Charlotte Convention Center. • The room rates range from $154-$199 per night for Buyers and $184-$219 per night for Sellers. • Transportation will be provided to the convention center from all host hotels, except for the Hilton, Embassy Suites and the Westin. • The Board housing registration has been sent. Board members are able to choose the hotel of their choice. We have saved a block of rooms for Board members at each of the hotels. The Board meetings will take place at the Charlotte Convention Center.
MEMBERSHIP DEPARTMENT
Membership Totals (Comparison from August 2017 - 2015)
2017 2016 2015 Associate Suppliers 145 130 113 Tour Operator 359 322 270 Bus Operator 656 597 521 Travel Industry 2135 1985 2022 Total Members 3369 3103 2993
191 (*159) new companies have joined ABA since January 1, 2017. • 15 Associates (*14) • 27 Tour Operators • 40 Bus Operators • 109 Travel Industry Companies (12 Inherited/Membership plus members/*133)
164 Membership Retention Renewal Rates: Associate Suppliers: 88% Tour Operators: 85% Bus Operators: 83% Travel Industry: 91%
• Instead of suspending unpaid travel and associate members in May like we have done in the past, we kept them active until August 1 so that they could continue to receive the benefits of membership, helping to justify their renewal and greatly increase retention rates. • At the end of March we had 548 travel member companies past due on their membership dues. On August 1, we only suspended 208 of those, which is a much smaller number than usual.
Membership Growth We have instituted new procedures to help track, acquire and retain members and we have re-aligned staff assignments to better streamline these procedures: • More than 1,200 direct phone calls and emails are sent to selected member prospects each quarter. These outbound calls are in addition to the monthly e-marketing membership promotions. • The MEMS staff has attended 6 industry tradeshows in the 2nd quarter: • UMA Expo – St. Louis MO • NTA – St. Louis, MO • International LCT Conference – Las Vegas, NV • Travel South Showcase - Branson, MO • RTO Summit East – NY, NY • IPW – Washington, DC • Pennsylvania Bus Association conference – Corning, NY • SYTA – Albuquerque, NM
• The MEMS staff is attending these tradeshows in the next few months: • BusCon – Indianapolis, IN • Spotlight in the Northwest – Seattle, WA • VMA-MCASC-NCMA Regional Meeting – Roanoke, VA • BISC West – Alpine, CA • Chauffer Driven – Orlando, FL • Spotlight in the Mid Atlantic – Baltimore, MD • LCT/NLA East – Atlantic City, NJ • NTA – San Antonio, TX • Nebraska Travel Conference – La Vista, NE • Kentucky Travel Industry Conference – Louisville, KY • Maryland Tourism Conference – Baltimore, MD • Virginia Tourism Summit – Norfolk, VA
Membership promotions and campaigns: • The Membership PLUS campaign, which was rolled out in May 2016, allows all multiple property and management group members to provide their properties with a single ABA membership for a small fee. • The PJP Operator campaign targets prospective operators in locations where Peter has a planned speaking engagement or is attending a conference. • Specialized rates for tradeshow attendees and personalized follow-ups from all shows that staff attend. • Revised Member Get a Member Program with personal instead of company based rewards.
165 • New membership promotional materials for specific prospect segments: tour operators, international inbound operators, prospects in the west, small operators. • Student campaign targeting travel industry companies focused on the student market • 5 Reasons to Join ABA campaign, identifying the five largest member benefits. • ABA by the Numbers campaign, identifying the number of operators in their area. • Membership and Marketplace discounts for prospects in future host cities. • Increased ABA branding presence at industry events include: • Pre-show marketing for tradeshows • “Tradeshow” and “Meetings” kits for all staff to take when traveling • ABA themed luggage tags • We are also tracking expenses versus revenue to identify which shows are more valuable for the membership team to attend. • To accurately identify which marketing efforts are the most effective, we are tracking what source a new member comes from. • TourOperator.com Receptive Tour Operator Directory lists international inbound receptive operators. We are following up with those who have shown interest in Marketplace. • We’re following various Facebook operator communities and are aggressively pursuing operators and other prospects who are not ABA members. • We have a partnership with Best Western International, offering their individual properties a full membership for $199.
Member Services • Each Wednesday we highlight a different member benefit and send to all members and prospects. • A video tutorial library has been developed for members to best maximize their membership with ABA. Topics include: calendar of events, members only section, changing passwords, etc. We add tutorials as needed.
MEMBERSHIP DATABASE: AMS Selection, Configuration and Implementation • Selected Impexium • Completed Discovery Phase • Completed Initial Data Dump • In Configuration Phase • Developing Own Appointment Scheduler Program • Full Implementation is scheduled for Mid-Feb.
CERTIFIED TRAVEL INDUSTRY SPECIALIST PROGRAM • The 2017 program includes a rescheduling of mandatory courses until later in the year. • We have 37 new enrollees for 2017. • The 2017 goal of the CTIS committee is to increase the graduation rate. • Working to develop CTIS Cadre for graduates to be peer educators. • Promoting courses and program as benefit.
166 WOMEN IN BUSES COUNCIL Chairman: Kim Grzywacz, CIT Signature Transportation
The Committee has quarterly conference calls for all groups. Marketing and Promotion: • Facebook: WIB Wednesday • Trade Shows: IPW, BISC/BusMARC, MCI Reliability Rallies, SYTA, OMCA • Bus Bulletin Sponsor
WEBINARS • The MEMS department hosts a minimum of 2 webinars each month. • We hosted 25 webinars in 2016. • Contracted with Marketplace speakers for the Marketplace Webinar series which runs June 2017 - May 2018. • Partnered with the communications department to create Education Express, which is a monthly update of education programs, webinars and webinars on demand. • Webinars are available on demand for one year.
MOTORCOACH MARKETER MEMBERSHIP DIRECTORY • Proof Launch in May. • Revisions for proofs due Aug. 18. • Working with YGS for production.
BISC/BUSMARC SPONSORSHIPS • ABC Companies is the Title Sponsor for BISC and for BusMARC. • Companies can sponsor for the year at a specific level, or sponsor a specific item for one meeting. • We are in the process of renewing contracts for the sponsorships for the Winter 2018 meeting. • This past year we had $40,000 in sponsorship fees plus in-kind donations for BISC. We are working on increasing that for this next year.
167
ABA Executive Committee Agenda 2017 Fall Board of Directors Meeting Radisson Blu Astrid Hotel Antwerp, Belgium
In addition to the items on the Board of Directors agenda that will be reviewed during the Executive Committee meeting, the following issues will also be considered and discussed during the Executive Committee meeting.
Other than ABA staff/personnel discussions, all topics typically covered during the ABA Executive Committee will be discussed during the two days of Board meetings.
Any topics that come up during the Board meetings that need additional clarification or discussion will be discussed during the Executive Committee and staff will be available as needed.
1. Review of Personnel 2. President’s Goals and Review 3. New Business 4. Executive Session 5. Adjourn
168
American Bus Association Foundation Holdings as of 8/31/2017
Current ABA Fdtn IPS Asset Class Market Value Allocation Allocation Ranges Money Market (Cash) $ 94,921.00 1.6% Cash 0-10% Total Money Market $ 94,921.00 1.6% Large Cap Portfolio $ 2,490,671.00 40.9% Small/Mid Cap $ 471,253.00 7.7% International Emerging Markets $ 127,318.00 2.1% International $ 602,976.00 9.9% Total Equity $ 3,692,218.00 60.6% Equities 40-75% Other 0.0% Short Bond $ 298,991.00 4.9% Intermediate Bond Portfolio $ 1,705,938.00 28.0% Other Fixed Income $ 299,106.00 4.9% Total Fixed Income $ 2,304,035.00 37.8% Fixed Income 25-55%
Total $ 6,091,174.00 100.0%
Allocation as of Aug 31, 2017
Other Fixed Income, 4.9% Money Market (Cash), 1.6%
Intermediate Bond Portfolio, 28.0%
Large Cap Portfolio, 40.9%
Short Bond, 4.9%
International Emerging International, 9.9% Small/Mid Cap, 7.7% Markets, 2.1%
Confidential 169
AMERICAN BUS ASSOCIATION FOUNDATION
UNAUDITED FINANCIAL STATEMENTS
FOR THE 8 MONTHS ENDED AUGUST 31, 2017
170 American Bus Association Foundation Balance Sheet August 31, 2017
AUGUST AUGUST 2017 2016 Assets
Cash and Cash Equivalents 237,912 185,313 Accounts Receivable 326,403 499,067 Prepaid Expenses 4,946 5,479 Investments 5,928,838 5,353,066
Total Assets 6,498,100 6,042,925
Liabilities and Net Assets
Current Liabilities Accounts Payable - - Due to ABA - - Deferred Income 7,250 7,944 7,250 7,944
Net Assets Unrestricted 2,160,679 2,077,460 Temporarily Restricted 4,330,171 3,957,521 6,490,850 6,034,981
Total Liabilities and Net Assets 6,498,100 6,042,925
Note:
Temporarily Restricted Net Assets Comprise: Scholarship Fund 378,869 312,538 Picknelly Memory Fund 58,732 54,021 Research Fund 3,772,629 3,473,609 Cornell Memory Fund 32,692 32,414 Yellow Ribbon Fund 87,249 84,939 4,330,171 3,957,521
171 American Bus Association Foundation Statement Of Activities Eight Months Ended August 31, 2017
Temporarily Total 2017 Total Unrestricted Restricted Aug-17 Budget Aug-16 Revenue
Marketplace Afterglow - 22,090 22,090 22,000 21,123 Marketplace Silent Auction - 37,561 37,561 38,000 59,829 Marketplace Live Auction - 64,050 64,050 64,000 51,250 Marketplace Sponsorships 15,000 15,000 15,000 - Membership contributions 24,340 24,340 36,000 15,215 Research Contributions 31,100 31,100 36,100 41,000 Research Revenue 500 500 500 - Yellow Ribbon Fund - - - - Yankee Candle - - - 200 Other Income 5,085 5,085 1,000 370 Net assets released from restriction 162,611 (162,611) - - Total revenue 192,536 7,190 199,726 212,600 188,987
Expenses Programs: Scholarship programs 90,000 90,000 90,000 52,500 Research 50,150 50,150 100,300 25,675 Picknelly Scholarship - - - 2,500 Cornell Scholarship 2,500 2,500 2,500 2,500 Yellow Ribbon Fund Scholarship 5,000 5,000 5,000 2,500 Supporting Services: General and administrative 67,446 67,446 94,000 27,433 SPA Retainter 4,878 4,878 4,250 4,921 Marketplace Silent Auction 11,073 11,073 8,500 24,277 Marketplace Live Auction 3,888 3,888 4,000 2 Promotion/Marketing 2,308 2,308 20,000 19,447 Total expenses 237,242 - 237,242 328,550 161,755
Excess of Revenues over Expenses (44,707) 7,190 (37,516) (115,950) 27,232
Investment income, net of investment fees of 31,153 22,499 46,035 68,534 62,635 Realized and unrealized gains/(losses) on investments 166,420 336,146 502,566 180,000 268,800
Change in net assets 144,212 389,371 533,584 64,050 358,667
Net Assets: Beginning 2,016,467 3,940,799 5,957,266 5,676,315 Ending 2,160,679 4,330,170 6,490,850 6,034,982
172 AMERICAN BUS ASSOC. FOUNDATION 111 K ST. NE 9TH FL WASHINGTON DC 20002-8110
173 Investor Statement August 31, 2017
Prepared for
American Bus Association Foundation
AMERICAN BUS ASSOC. FOUNDATION 111 K ST. NE 9TH FL WASHINGTON DC 20002-8110
Advisor
Karl Macklin TD Private Client Wealth LLC Managed Accounts Network
703-663-4421
Securities and investment advisory products: Not insured by the FDIC or any other governmental agency • Not guaranteed by TD Bank, NA or affiliates • May lose value. 174 Table of Contents
Group Reports Mkt Val
American Bus Association Foundation $ 6,091,175.99
Account Reports 1 Mkt Val
American Bus Association Foundation | QY3008016 $ 4,385,237.86 American Bus Association Foundation Not for Profit | QGR005841 1,705,938.13
Please inform your financial advisor of any changes in your financial situation or investment objectives, or if you wish to modify or impose a reasonable restriction on your account. Please contact your financial advisor if you would like to request a current copy of the Form ADV Part 2A or Form ADV Part 2A - Appendix 1 or equivalent brochure, as applicable, for any of the following: Financial Advisor, Money Manager(s) and/or Envestnet Asset Management, Inc.
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any 175 questions, please contact your Advisory Representative. American Bus Association Foundation Data as of August 31, 2017
Aggregate Overview American Bus Association Foundation
Client Group Summary Asset Allocation
Inception Date Feb 19, 2015 Fixed Income 12.56 % Total Value $ 6,091,175.99 ● Short Bond 12.56 Accrued Income 15,860.92 Large Cap 33.65 Net Investment 2 $ 5,317,108.87 ● Large-Cap Growth 18.51 ● Large Value & Dividend 5.94 Large-Cap Core 9.20 Advisory Fees ● SMID Cap 9.20 This Quarter $ -10,490.74 ● Mid Cap 3.98 This Year $ -29,974.03 ● Small Cap 4.47 ● SMID Cap 0.75 3 Performance This Quarter Year-to-Date Incp to Date International 15.48 TWRR 2.01 % 10.38 % 5.72 % ● International Growth 1.39 ● Foreign Large Cap Growth 1.58 ● Foreign Large Cap Value 2.61 Account Activity 4 This Quarter Year-to-Date Since Inception ● International Core 9.90 Beginning Value $ 5,966,956.84 $ 5,420,076.00 $ 4,822,634.46 International Emerging Markets 2.29 Net Cntrbs/Wthdrwls 0.00 100,000.00 494,836.42 ● Int'l Emerging Mkts 2.29 Capital Appreciation 112,342.77 504,327.06 538,047.99 Other Fixed Income 4.91 Dividends 12,928.87 63,862.55 226,875.39 ● High Yield 4.91 Interest 9,484.00 33,044.30 106,210.86 Intermediate Bond 12.24 Misc. Expenses -45.75 -159.89 -362.01 Intermediate Bond 12.24 Transaction Fees 0.00 0.00 0.00 ● Short Bond 4.91 ● Short Bond 4.91 Gains & Losses Long-Term Short-Term Total Cash 2.67 Unrealized $ 536,388.26 $ 72,827.06 $ 609,215.33 ● Cash 2.67 Realized (YTD) 51,596.27 5,166.89 56,763.16 Long Bond 2.10 ● Long Bond 2.10
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 176 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Foundation Data as of August 31, 2017
Aggregate Overview American Bus Association Foundation
Market Net 2 Qtr Year Trailing 6 Trailing Trailing Trailing Incp Accounts 3 / Benchmarks 5 Value Investment to Date to Date 1 Yr 3 Yrs 5 Yrs 10 Yrs to Date
American Bus Association Foundation | QY3008016 $ 4,385,237.86 $ 3,648,396.37 Incp: Feb 19, 2015
CSS - Bal Gro - American Bus Association Foundation Non Proprietary — — 2.50 % 13.96 % 13.75 % — — — 7.59 %
72% S&P 500 TR, 18% MSCI World Ex US NR USD, 8% Bloomberg — — 2.35 11.80 14.82 — — — 7.49
Barclays Capital U.S. Aggregate Bond TR, 2% Citigroup Treasury Bill - 3
Month
American Bus Association Foundation Not for Profit | QGR005841 $ 1,705,938.13 $ 1,668,712.50 Incp: Feb 19, 2015
Franklin Portfolio Advisors Intermediate Fixed income Managed Account — — 0.78 1.95 -0.01 — — — 1.25
Bloomberg Barclays Capital Intermediate U.S. Government/Credit Index — — 1.06 2.81 0.82 — — — 2.11
Performance Summary 7 Portfolio Value vs. Benchmark 8
TWRR | Balanced Growth % Portfolio Value | Benchmark | Net Investment $
10.0 6,000,000 9.0
8.0 5,000,000
7.0 4,000,000 6.0
5.0 3,000,000
4.0 2,000,000 3.0
2.0 1,000,000 1.0 0 0.0 May Sep Jan May Sep Jan May Sep This Quarter Year-to-Date Since Inception 15 15 16 16 16 17 17 17
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 177 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Foundation Data as of August 31, 2017
Aggregate Overview American Bus Association Foundation
Quarterly Performance Statistics 7 TWRR 3 Balanced Growth
This Quarter 2.01 % 2.00 %
Q2 2017 3.24 2.71
Q1 2017 4.81 4.04
Q4 2016 -0.90 0.66
Q3 2016 1.88 2.78
Periodic Performance Statistics 7 TWRR 3, 9 Balanced Growth
Year-to-Date 10.38 % 9.06 %
Trailing 1 Year Aug 31, 2016 - Aug 31, 2017 9.60 10.05
Since Inception Feb 19, 2015 - Aug 31, 2017 5.72 5.84
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 178 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Foundation Data as of August 31, 2017
Holdings Analysis American Bus Association Foundation
Unrealized 10 Gains Losses Total Parent Style 11
Long Term $ 580,798.02 $ 44,409.76 $ 536,388.26 $ Total % Total Short Term 81,753.06 8,925.99 72,827.06 2,490,671 40.9 Large Cap 1,705,938 28.0 Intermediate Bond 602,976 9.9 International 471,253 7.7 SMID Cap 299,106 4.9 Other Fixed Incom 298,991 4.9 Short Bond 127,318 2.1 International Eme 94,921 1.6 Cash
% 0.0 10.0 20.0 30.0 40.0
Equity Distribution By Sector 12, 13 Asset Class 14
$ Total % Total $ Total % Total 705,075 16.4 Technology 1,705,938 28.0 Intermediate Bond 569,411 13.3 Fixed Inc 1,512,489 24.8 Lg Cap Gwth 504,439 11.8 Healthcare 978,182 16.1 Lg Value & Dividen 391,319 9.1 Fin. Services 602,976 9.9 Int'l Core 385,399 9.0 Cons. Defense 299,106 4.9 High Yield 343,890 8.0 Industrials 298,991 4.9 Short Bond 328,526 7.7 Comm. Svcs. 265,091 4.4 Small Cap 313,931 7.3 Cons. Cyclical 206,162 3.4 Mid Cap 221,574 5.2 Utilities 127,318 2.1 Int'l Emerging Mkt 200,972 4.7 Energy 94,921 1.6 Cash 325,782 7.6 Other Invest
% 0.0 2.5 5.0 7.5 10.0 12.5 15.0 % 0.0 5.0 10.0 15.0 20.0 25.0
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 179 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Foundation Data as of August 31, 2017
Performance by Style Type American Bus Association Foundation
Market Style Qtr Year Trailing 17 Trailing From Style Type 15 / Benchmark 16 Value Pct to Date to Date 1 Yr 3 Yrs Start Date
Large Cap $ 2,548,558.77 41.84 % Start: Feb 19, 2015
Composite Performance — — 3.63 % 18.56 % 16.05 % — 11.00 %
Benchmark: S&P 500 TR — — 2.37 11.93 16.23 — 8.99
Large-Cap Growth $ 1,552,072.95 25.48 Start: Feb 19, 2015
Composite Performance — — 5.40 24.88 22.50 — 12.67
Benchmark: Russell 1000 Growth TR — — 4.54 19.17 20.82 — 10.67
Large Value & Dividend $ 996,485.82 16.36 Start: Feb 19, 2015
Composite Performance — — 0.97 9.97 7.35 — 8.72
Benchmark: Russell 1000 Value TR — — 0.15 4.81 11.58 — 6.60
SMID Cap $ 481,131.64 7.90 Start: Feb 19, 2015
Composite Performance — — -1.10 2.83 12.48 — 7.63
Benchmark: Russell 2500 TR — — 0.20 6.18 13.22 — 6.47
Mid Cap $ 210,483.70 3.46 Start: Feb 19, 2015
Composite Performance — — -0.65 5.09 12.03 — 6.83
Benchmark: Russell Midcap Growth TR — — 2.39 14.06 14.52 — 6.36
Small Cap $ 270,647.94 4.44 Start: Feb 19, 2015
Composite Performance — — -1.45 1.08 12.78 — 8.39
Benchmark: Russell 2000 Total Return Idx Total Return — — -0.54 4.42 14.91 — 7.00
International $ 615,317.95 10.10 Start: Feb 19, 2015
Composite Performance — — 2.85 17.78 17.90 — 4.91
Benchmark: MSCI World Ex Us GR USD — — 2.98 16.61 17.71 — 4.73
International Core $ 615,317.95 10.10 Start: Feb 19, 2015
Composite Performance — — 2.85 17.79 17.91 — 5.10
Benchmark: Morgan Stanley Cap Intl Index MSCI EAFE Net — — 2.85 17.05 17.64 — 4.39
International Emerging Markets $ 129,790.02 2.13 Start: Feb 19, 2015
Composite Performance — — 8.33 24.26 21.19 — 5.15
Benchmark: MSCI EM TRG USD — — 8.45 28.62 24.99 — 7.05
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 180 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Foundation Data as of August 31, 2017
Performance by Style Type American Bus Association Foundation
Market Style Qtr Year Trailing 17 Trailing From Style Type 15 / Benchmark 16 Value Pct to Date to Date 1 Yr 3 Yrs Start Date
Int'l Emerging Mkts $ 129,790.02 2.13 Start: Feb 19, 2015
Composite Performance — — 8.33 24.26 21.19 — 5.15
Benchmark: MSCI EM NR — — 8.32 28.29 24.53 — 7.70
Other Fixed Income $ 305,277.35 5.01 Start: Feb 19, 2015
Composite Performance — — 0.88 5.20 8.90 — 3.84
Benchmark: Bloomberg Barclays Capital U.S. Aggregate Bond TR — — 1.33 3.63 0.49 — 2.47
High Yield $ 305,277.35 5.01 Start: Feb 19, 2015
Composite Performance — — 0.88 5.20 8.90 — 3.84
Benchmark: BofAML US HY Master II TR USD — — 1.13 6.09 8.79 — 6.15
Intermediate Bond $ 1,705,938.13 28.01 Start: Feb 19, 2015
Composite Performance — — 0.95 2.49 0.69 — 1.98
Benchmark: Bloomberg Barclays Capital Intermediate U.S. Government/ — — 1.06 2.81 0.82 — 2.11
Credit Index
Intermediate Bond $ 1,705,938.13 28.01 Start: Feb 19, 2015
Composite Performance — — 0.95 2.49 0.69 — 1.98
Benchmark: Bloomberg Barclays Capital U.S. Aggregate Bond TR — — 1.33 3.63 0.49 — 2.47
Short Bond $ 305,162.13 5.01 Start: Feb 19, 2015
Composite Performance — — 0.68 1.83 0.82 — 1.45
Benchmark: Bloomberg Barclays Capital 1-3 Govt/Credit Bond — — 0.46 1.18 0.90 — 1.12
Short Bond $ 305,162.13 5.01 Start: Feb 19, 2015
Composite Performance — — 0.68 1.83 0.82 — 1.45
Benchmark: Bloomberg Barclays Capital 1-5 Yr Treasury TR USD — — 0.64 1.44 0.42 — 1.21
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 181 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Foundation Data as of August 31, 2017
Realized Gains/Losses (Year-to-date) American Bus Association Foundation | QY3008016
Short Term Opened Closed Units Cost Basis 18 Proceeds Gain/Loss 10
Charles Schwab Corp | SCHW Feb 18, 2016 ℹ Jan 18, 2017 80.000 $ 1,917.32 $ 3,288.70 + 71.5 %
Charles Schwab Corp | SCHW Apr 28, 2016 ℹ Feb 28, 2017 6.000 177.65 241.76 + 36.1
Fleetcor Technologies Inc | FLT Dec 6, 2016 ℹ Aug 9, 2017 31.000 4,608.63 4,370.90 - 5.2
LKQ Corp | LKQ Apr 12, 2016 ℹ Mar 14, 2017 26.000 837.65 782.44 - 6.6
LKQ Corp | LKQ Aug 30, 2016 ℹ Mar 14, 2017 289.000 10,428.76 8,697.18 - 16.6
McDonald's Corp | MCD Oct 13, 2016 ℹ Jul 19, 2017 2.000 231.33 307.08 + 32.7
McDonald's Corp | MCD Oct 13, 2016 ℹ Jul 31, 2017 32.000 3,701.32 4,971.40 + 34.3
McDonald's Corp | MCD Oct 13, 2016 ℹ Aug 4, 2017 4.000 462.67 615.34 + 33.0
McDonald's Corp | MCD Oct 24, 2016 ℹ Aug 4, 2017 29.000 3,298.51 4,461.23 + 35.2
McDonald's Corp | MCD Oct 24, 2016 ℹ Aug 9, 2017 31.000 3,526.00 4,787.83 + 35.8
McKesson Corp | MCK Aug 9, 2016 ℹ Apr 19, 2017 43.000 8,459.73 5,868.57 - 30.6
Novartis Ag | NVS Oct 13, 2016 ℹ May 18, 2017 112.000 8,620.70 8,956.36 + 3.9
Novartis Ag | NVS Oct 13, 2016 ℹ May 22, 2017 9.000 692.73 731.14 + 5.5
Novartis Ag | NVS Oct 24, 2016 ℹ May 22, 2017 70.000 5,307.02 5,686.64 + 7.2
Novartis Ag | NVS Nov 16, 2016 ℹ May 22, 2017 63.000 4,543.48 5,117.98 + 12.6
Panera Bread Co | PNRA Jan 24, 2017 ℹ Apr 25, 2017 31.000 6,640.82 9,736.66 + 46.6
Total $ 68,621.21 8.1 %
ℹ denotes a "covered" security as defined by the IRS Code Section 6045(g)(3)(A) is a specified security acquired on or after the applicable effective date. Section 6045(g)(3)(A) defines stocks acquired on or after January 1, 2011, mutual fund and dividend reinvestment plan shares acquired on or after January 1, 2012, and options and debt instruments acquired on or after January 1, 2013, as "covered" securities. The Emergency Economic Stabilization Act of 2008 requires broker-dealers and mutual fund providers to report cost basis and holding period information to the taxpayer and the IRS on the sale of "covered" securities. Reporting will be phased in by security type over the next three years as stated above. Envestnet provides cost basis information for most stocks and mutual fund shares purchased and sold, if provided by the custodian, to clients as supplemental information only within the gains/losses report.
Long Term Opened Closed Units Cost Basis 18 Proceeds Gain/Loss 10
AbbVie Inc | ABBV Jan 7, 2016 ℹ Jul 31, 2017 75.000 $ 4,299.04 $ 5,256.68 + 22.3 %
Altria Group Inc | MO Feb 23, 2015 ℹ Mar 22, 2017 75.000 4,168.88 5,644.54 + 35.4
Aramark | ARMK Jul 8, 2015 ℹ Aug 22, 2017 190.000 5,891.27 7,542.86 + 28.0
Aramark | ARMK Sep 17, 2015 ℹ Aug 22, 2017 20.000 638.96 793.99 + 24.3
AutoZone Inc | AZO Sep 1, 2015 ℹ Jan 10, 2017 11.000 7,846.02 8,727.87 + 11.2
Bristol-Myers Squibb Company | BMY Feb 23, 2015 ℹ Jan 31, 2017 56.000 3,431.40 2,735.12 - 20.3
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 182 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Foundation Data as of August 31, 2017
Realized Gains/Losses (Year-to-date) American Bus Association Foundation | QY3008016
Long Term Opened Closed Units Cost Basis 18 Proceeds Gain/Loss 10
Bristol-Myers Squibb Company | BMY Apr 24, 2015 ℹ Jan 31, 2017 68.000 4,485.96 3,321.22 - 26.0
Broadcom Ltd | AVGO Jun 2, 2015 ℹ Mar 14, 2017 43.000 6,182.48 9,646.12 + 56.0
Canadian Pacific Railway Ltd | CP Apr 28, 2015 ℹ Jul 11, 2017 60.000 11,694.34 9,663.54 - 17.4
Canadian Pacific Railway Ltd | CP Mar 22, 2016 ℹ Jul 11, 2017 54.000 7,108.53 8,697.19 + 22.3
Charles Schwab Corp | SCHW Oct 7, 2015 ℹ Jan 18, 2017 58.000 1,617.97 2,384.31 + 47.4
Charles Schwab Corp | SCHW Feb 18, 2016 ℹ Feb 28, 2017 184.000 4,409.85 7,413.85 + 68.1
Charles Schwab Corp | SCHW Apr 28, 2016 ℹ Jul 25, 2017 229.000 6,780.39 9,840.27 + 45.1
Charles Schwab Corp | SCHW Jun 7, 2016 ℹ Jul 25, 2017 178.000 5,277.18 7,648.76 + 44.9
Dollar Tree Inc | DLTR Feb 24, 2015 ℹ Jan 24, 2017 72.000 5,579.54 5,504.08 - 1.4
Dollar Tree Inc | DLTR Feb 24, 2015 ℹ Jun 20, 2017 22.000 1,704.86 1,521.70 - 10.7
Dollar Tree Inc | DLTR Jul 14, 2015 ℹ Jun 20, 2017 83.000 6,832.15 5,740.97 - 16.0
Dollar Tree Inc | DLTR Aug 4, 2015 ℹ Jun 20, 2017 56.000 4,353.74 3,873.42 - 11.0
Fleetcor Technologies Inc | FLT Feb 23, 2015 ℹ Aug 9, 2017 86.000 13,369.13 12,125.73 - 9.3
Fleetcor Technologies Inc | FLT May 24, 2016 ℹ Aug 9, 2017 50.000 7,413.88 7,049.84 - 4.9
Intercontinental Exchange Inc | ICE Jan 17, 2013 ℹ Apr 11, 2017 191.000 5,006.25 11,503.07 + 129.8
Johnson & Johnson | JNJ Feb 23, 2015 ℹ Mar 22, 2017 109.000 10,934.33 13,776.41 + 26.0
Lululemon Athletica Inc | LULU Mar 15, 2016 ℹ Apr 19, 2017 89.000 5,554.83 4,627.90 - 16.7
McDonald's Corp | MCD Feb 23, 2015 ℹ Mar 22, 2017 52.000 4,901.91 6,704.74 + 36.8
McDonald's Corp | MCD Feb 23, 2015 ℹ Apr 28, 2017 43.000 4,053.50 6,011.06 + 48.3
McDonald's Corp | MCD Feb 23, 2015 ℹ May 2, 2017 31.000 2,922.29 4,370.02 + 49.5
McDonald's Corp | MCD Feb 23, 2015 ℹ May 4, 2017 32.000 3,016.56 4,592.64 + 52.2
McDonald's Corp | MCD Feb 23, 2015 ℹ Jun 8, 2017 43.000 4,053.50 6,499.36 + 60.3
McDonald's Corp | MCD Feb 23, 2015 ℹ Jul 14, 2017 27.000 2,545.22 4,187.08 + 64.5
McDonald's Corp | MCD Jul 8, 2015 ℹ Jul 14, 2017 12.000 1,152.12 1,860.93 + 61.5
McDonald's Corp | MCD Jul 8, 2015 ℹ Jul 19, 2017 27.000 2,592.27 4,145.54 + 59.9
McKesson Corp | MCK Feb 10, 2016 ℹ Apr 19, 2017 16.000 2,459.68 2,183.65 - 11.2
Merck & Co Inc | MRK Feb 23, 2015 ℹ Jul 31, 2017 90.000 5,259.15 5,741.02 + 9.2
Mondelez International Inc Class A | MDLZ Feb 23, 2015 ℹ May 31, 2017 113.000 4,116.03 5,272.73 + 28.1
Mondelez International Inc Class A | MDLZ Feb 23, 2015 ℹ Aug 17, 2017 66.000 2,404.05 2,891.50 + 20.3
Mondelez International Inc Class A | MDLZ Jun 30, 2016 ℹ Aug 17, 2017 188.000 8,329.43 8,236.39 - 1.1
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 183 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Foundation Data as of August 31, 2017
Realized Gains/Losses (Year-to-date) American Bus Association Foundation | QY3008016
Long Term Opened Closed Units Cost Basis 18 Proceeds Gain/Loss 10
National Grid PLC ADR | NGG Feb 23, 2015 ℹ May 25, 2017 0.500 37.86 35.29 - 6.8
Nike Inc B | NKE Feb 23, 2015 ℹ Feb 7, 2017 95.000 4,480.91 5,013.45 + 11.9
Philip Morris International Inc | PM Feb 23, 2015 ℹ Jun 14, 2017 56.000 4,638.26 6,711.22 + 44.7
Procter & Gamble Co | PG Jan 13, 2015 ℹ Feb 10, 2017 8.000 728.82 706.02 - 3.1
Procter & Gamble Co | PG Feb 23, 2015 ℹ Feb 10, 2017 106.000 9,039.15 9,354.81 + 3.5
Procter & Gamble Co | PG Feb 23, 2015 ℹ Apr 10, 2017 55.000 4,690.13 4,924.78 + 5.0
Ross Stores Inc | ROST Feb 23, 2015 ℹ Feb 15, 2017 82.000 4,030.30 5,646.41 + 40.1
Ross Stores Inc | ROST Feb 23, 2015 ℹ Jun 14, 2017 193.000 9,485.95 11,788.29 + 24.3
Ross Stores Inc | ROST Feb 23, 2015 ℹ Jun 27, 2017 144.000 7,077.60 8,186.64 + 15.7
Sanofi | SNY Feb 23, 2015 ℹ Jun 8, 2017 178.000 8,966.75 8,558.52 - 4.6
Sanofi | SNY Feb 23, 2015 ℹ Jul 14, 2017 9.000 453.38 433.66 - 4.3
Sanofi | SNY Feb 25, 2016 ℹ Jul 14, 2017 80.000 3,247.43 3,854.80 + 18.7
Southern Co | SO Feb 23, 2015 ℹ Apr 10, 2017 83.000 3,842.69 4,124.45 + 7.3
Southern Co | SO Feb 23, 2015 ℹ Apr 13, 2017 178.000 8,240.95 8,798.09 + 6.8
Stryker Corp | SYK May 17, 2016 ℹ Jul 11, 2017 49.000 5,397.87 6,885.52 + 27.6
The Estee Lauder Companies Inc Class A | EL Mar 31, 2015 ℹ Feb 7, 2017 64.000 5,350.00 5,348.60 - 0.0
The Estee Lauder Companies Inc Class A | EL May 13, 2015 ℹ Feb 7, 2017 14.000 1,224.82 1,170.01 - 4.5
The Kraft Heinz Co | KHC Feb 23, 2015 ℹ Feb 17, 2017 43.000 2,645.02 4,123.32 + 55.9
The Kraft Heinz Co | KHC Apr 24, 2015 ℹ Feb 17, 2017 78.000 5,478.04 7,479.52 + 36.5
Unilever PLC ADR | UL Feb 23, 2015 ℹ Feb 17, 2017 330.000 14,475.13 15,851.56 + 9.5
Vanguard FTSE Developed Markets ETF | VEA Feb 23, 2015 ℹ Jun 5, 2017 664.000 26,725.67 27,889.71 + 4.4
Total $ 364,620.77 16.6 %
ℹ denotes a "covered" security as defined by the IRS Code Section 6045(g)(3)(A) is a specified security acquired on or after the applicable effective date. Section 6045(g)(3)(A) defines stocks acquired on or after January 1, 2011, mutual fund and dividend reinvestment plan shares acquired on or after January 1, 2012, and options and debt instruments acquired on or after January 1, 2013, as "covered" securities. The Emergency Economic Stabilization Act of 2008 requires broker-dealers and mutual fund providers to report cost basis and holding period information to the taxpayer and the IRS on the sale of "covered" securities. Reporting will be phased in by security type over the next three years as stated above. Envestnet provides cost basis information for most stocks and mutual fund shares purchased and sold, if provided by the custodian, to clients as supplemental information only within the gains/losses report.
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 184 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Foundation Data as of August 31, 2017
Performance by Manager American Bus Association Foundation | QY3008016
Market Manager Qtr Year Trailing 17 Trailing From Manager 15 / Benchmark 16 Value Pct to Date to Date 1 Yr 3 Yrs Start Date
Large-Cap Growth $ 1,552,072.95 35.40 % Start: Feb 19, 2015
MFS Growth Private Portfolio Managed Account — — 5.40 % 24.87 % 22.47 % — 12.62 %
Benchmark: Russell 1000 Growth TR — — 4.54 19.17 20.82 — 10.67
Large Value & Dividend $ 996,485.82 22.72 Start: Feb 19, 2015
Federated Strategic Value Dividend Managed Account — — 0.97 9.97 7.36 — 8.77
Benchmark: Russell 1000 Value TR — — 0.15 4.81 11.58 — 6.60
Mid Cap $ 210,483.70 4.80 Start: Feb 19, 2015
iShares Core S&P Mid-Cap — — -0.64 5.11 12.05 — 6.98
Benchmark: S&P 400 Midcap TR — — -0.67 5.28 12.37 — 7.40
Small Cap $ 270,647.94 6.17 Start: Feb 19, 2015
iShares Core S&P Small-Cap — — -1.45 1.08 12.86 — 8.41
Benchmark: Russell 2000 Total Return Idx Total Return — — -0.54 4.42 14.91 — 7.00
High Yield $ 305,277.35 6.96 Start: Feb 19, 2015
Franklin High Income Adv — — 0.88 5.20 8.90 — 3.84
Benchmark: BofAML US HY Master II TR USD — — 1.13 6.09 8.79 — 6.15
International Core $ 615,317.95 14.03 Start: Feb 19, 2015
Vanguard FTSE Developed Markets ETF — — 2.85 17.79 17.91 — 5.10
Benchmark: Morgan Stanley Cap Intl Index MSCI EAFE Net — — 2.85 17.05 17.64 — 4.39
Int'l Emerging Mkts $ 129,790.02 2.96 Start: Feb 19, 2015
Vanguard FTSE Emerging Markets ETF — — 8.33 24.26 21.19 — 5.15
Benchmark: MSCI EM NR — — 8.32 28.29 24.53 — 7.70
Short Bond $ 305,162.13 6.96 Start: Feb 19, 2015
Vanguard Short-Term Bond ETF — — 0.68 1.83 0.82 — 1.45
Benchmark: Bloomberg Barclays Capital 1-5 Yr Treasury TR USD — — 0.64 1.44 0.42 — 1.21
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 185 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Foundation Data as of August 31, 2017
Realized Gains/Losses (Year-to-date) American Bus Association Foundation Not for Profit | QGR005841
Short Term Opened Closed Units Cost Basis 19 Proceeds Gain/Loss 10
No Short Term Realized Gains/Losses for this period
Long Term Opened Closed Units Cost Basis 19 Proceeds Gain/Loss 10
American Express Co | 025816AX7 Feb 24, 2015 ℹ Feb 23, 2017 40,000.000 $ 41,094.89 $ 40,946.80 - 0.4 %
Federal Home Loan Mortgage Corp | 3137EACA5 Apr 28, 2015 ℹ Jun 27, 2017 5,000.000 5,226.95 5,203.95 - 0.4
Federal Home Loan Mortgage Corp | 3137EACA5 Sep 25, 2015 ℹ Jun 27, 2017 15,000.000 15,677.14 15,611.85 - 0.4
Federal Home Loan Mortgage Corp | 3137EACA5 Feb 24, 2016 ℹ Jun 27, 2017 5,000.000 5,243.22 5,203.95 - 0.7
Federal Home Loan Mortgage Corp | 3137EACA5 Feb 26, 2015 ℹ Jun 27, 2017 40,000.000 41,671.96 41,631.60 - 0.1
United States Treasury Note/Bond | 912828HA1 Feb 25, 2015 ℹ Aug 15, 2017 40,000.000 40,065.07 40,000.00 - 0.2
Total $ 148,598.15 -0.3 %
ℹ denotes a "covered" security as defined by the IRS Code Section 6045(g)(3)(A) is a specified security acquired on or after the applicable effective date. Section 6045(g)(3)(A) defines stocks acquired on or after January 1, 2011, mutual fund and dividend reinvestment plan shares acquired on or after January 1, 2012, and options and debt instruments acquired on or after January 1, 2013, as "covered" securities. The Emergency Economic Stabilization Act of 2008 requires broker-dealers and mutual fund providers to report cost basis and holding period information to the taxpayer and the IRS on the sale of "covered" securities. Reporting will be phased in by security type over the next three years as stated above. Envestnet provides cost basis information for most stocks and mutual fund shares purchased and sold, if provided by the custodian, to clients as supplemental information only within the gains/losses report.
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 186 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Foundation Data as of August 31, 2017
Disclosures
TD Private Client Group is a unit of TD Wealth® in the United States, which is a business of TD Bank N.A., member FDIC (TD Bank). TD Private Client Group provides its clients access to bank and non-bank products and services. Banking and trust services are available through TD Bank. Securities and investment advisory products are available through TD Private Client Wealth LLC, member FINRA/SIPC (TDPCW). TD Asset Management USA, Inc. (TDAM USA) and Epoch Investment Partners, Inc. (Epoch) are federally registered investment advisers that provide investment management services to TD Wealth. TD Bank, TDPCW, TDAM USA, and Epoch are affiliates.
TD Bank, TD PCW, their affiliates, and TD Wealth Relationship Managers and Advisors do not provide legal or tax advice. Any tax advice in this material is not intended or written to be used, and cannot be used, by any recipient for the avoidance of penalties under federal tax laws. Any such taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.
Past performance is no guarantee of future results. The information and data is being provided at your request and is from sources believed to be reliable but their accuracy is not guaranteed. It does not reflect future values or future performance of any security, strategy, or investment product. TD Bank and its affiliates and related entities are not liable for any errors or omissions in the information or for any loss or damage suffered.
For a complete list of the benchmark indexes used in this report and additional information about the benchmarks used, please contact your Investment Advisor.
Time Weighted Rate of Return (TWRR) is calculated net of all fees and on a pre-tax basis. TWRR assume that all cash distributions (i.e. dividends, interest, etc.) are reinvested back into the portfolio. In addition, the TWRR calculation eliminates the effects of cash flows in and out of the portfolio, in essence treating the portfolio as if there were a single investment at the beginning of the measurement period. TWRR is used to compare your portfolio returns versus benchmark indices (such as S&P 500).
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 187 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Foundation Data as of August 31, 2017
Disclosure Notes
1 These reports are not to be construed as an offer or the solicitation of an offer to buy or sell securities mentioned herein. Information contained in these reports is based on sources and data believed reliable. The information used to construct these reports was received via a variety of sources. These reports are for informational purposes only. These reports do not take the place of any brokerage statements, any fund company statements, or the 1099 tax forms. You are urged to compare this report with the statement you receive from your custodian covering the same period. Differences in positions may occur due to reporting dates used and whether certain assets are not maintained by your custodian. There may also be differences in the investment values shown due to the use of differing valuation sources and methods.
2 Net Investment is the total value of contributions and withdrawals (excluding unsupervised assets) made by the client since the inception date of the account. This includes Misc. Expenses received from the custodian.
3 Time Weighted Rate of Return (TWRR) is calculated net of all fees. Time Weighted Rate of Return (TWRR) is used to compare your portfolio returns versus benchmark indices (such as S&P 500).
4 "Beginning Value": the account's value at the beginning of each period; "Contributions": the value of deposits from the client into the account for each period; "Withdrawals": withdrawals from the account for each period; "Capital Appreciation": all realized and unrealized changes in market value during the period; "Dividends": the amount of dividends received from stocks or mutual funds for each period; "Interest": the amount of interest received for each period; "Misc Expenses": the amount of non trade related fees charged by the custodian (wire fee, overnight fee, ATM Fee, ACH Fee, etc.) for each period; "Transaction Fees": the amount of transaction fees charged to the account for each period (for informational purposes only, all transactions are net of transaction fees).
5 A benchmark is an unmanaged index, and its performance does not include any advisory fees, transaction costs or other charges that may be incurred in connection with your investments and/or managed accounts listed. Any benchmark whose return is shown for comparison purposes may include different holdings, a different number of holdings, and a different degree of investment in individual securities, industries or economic sectors than the investments and/or investment accounts to which it is compared. Investors cannot invest directly into a benchmark or index. All portfolio returns for all periods are expressed in USD. All benchmark(s) returns reflect the same currency as the portfolio returns presented. Yearly performance values (e.g. Trailing 3 Years) shown are from the specified period up to Aug 31, 2017.
6 Trailing 1 Year is Aug 31, 2016 to Aug 31, 2017
7 These figures compare the Time Weighted Rate of Return (TWRR) of your account with a benchmark index. "Balanced Growth" refers to a blend composed of 48% S&P 500 TR, 38% Bloomberg Barclays Capital U.S. Aggregate Bond TR, 12% MSCI World Ex US NR USD, 2% Citigroup Treasury Bill - 3 Month. A benchmark is an unmanaged index, and its performance does not include any advisory fees, transaction costs or other charges that may be incurred in connection with your investments and/or managed accounts listed. Any benchmark whose return is shown for comparison purposes may include different holdings, a different number of holdings, and a different degree of investment in individual securities, industries or economic sectors than the investments and/or investment accounts to which it is compared. Investors cannot invest directly into a benchmark or index. All portfolio returns for all periods are expressed in USD. All benchmark(s) returns reflect the same currency as the portfolio returns presented.
8 Benchmark designates 48% S&P 500 TR, 38% Bloomberg Barclays Capital U.S. Aggregate Bond TR, 12% MSCI World Ex US NR USD, 2% Citigroup Treasury Bill - 3 Month. A benchmark is an unmanaged index, and its performance does not include any advisory fees, transaction costs or other charges that may be incurred in connection with your investments and/or managed accounts listed. Any benchmark whose return is shown for comparison purposes may include different holdings, a different number of holdings, and a different degree of investment in individual securities, industries or economic sectors than the investments and/or investment accounts to which it is compared. Investors cannot invest directly into a benchmark or index. All portfolio returns for all periods are expressed in USD. All benchmark(s) returns reflect the same currency as the portfolio returns presented.
9 Returns for greater than one year are annualized.
10 Capital gain/loss data presented here is a general guide and should not be relied upon in the preparation of your tax returns.
11 The Parent Style Summary and the Parent Style Graph display totals for the top Parent Style groupings, smaller Parent Style groupings are combined under the "Other" heading.
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 188 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative. American Bus Association Foundation Data as of August 31, 2017
Disclosure Notes
12 The Group By Equity Distribution By Sector Holdings Report includes only Stocks & Funds Holdings. The Equity Distribution By Sector Summary and the Equity Distribution By Sector Graph include totals from "Multiple Sectors" funds. The Equity Distribution By Sector Summary and the Equity Distribution By Sector Graph display totals for the top Equity Distribution By Sector groupings, smaller Equity Distribution By Sector groupings are combined under the "Other Invest" heading.
13 Parent style classifications are provided by Morningstar, Inc. and mapped into one of the style classifications supported on this platform. Sector information is provided by Morningstar. Bond type and rating information is provided by Interactive Data Corporation.
14 The Asset Class Summary and the Asset Class Graph display totals for the top Asset Class groupings, smaller Asset Class groupings are combined under the "Other" heading.
15 Performance is shown gross of all fees.
16 A benchmark is an unmanaged index, and its performance does not include any advisory fees, transaction costs or other charges that may be incurred in connection with your investments and/or managed accounts listed. Any benchmark whose return is shown for comparison purposes may include different holdings, a different number of holdings, and a different degree of investment in individual securities, industries or economic sectors than the investments and/or investment accounts to which it is compared. Investors cannot invest directly into a benchmark or index. All portfolio returns for all periods are expressed in USD. All benchmark(s) returns reflect the same currency as the portfolio returns presented.
17 Trailing 1 Year indicates the period from Aug 31, 2016 to Aug 31, 2017.
18 "First-In First-Out (For Mutual Fund: First-In First-Out)" is the current accounting method. This method changed from "First-In First-Out (For Mutual Fund: Average Cost)" effective on 2015-02-12.
19 "Highest Cost Long Term Lot (For Mutual Fund: Highest Cost Long Term Lot)" is the current accounting method. This method changed from "First-In First-Out (For Mutual Fund: Average Cost)" effective on 2015-02-12.
As of March 2007, all deposits or withdrawals of $10,000 or more occurring on the same day in your account will be debited or rebated the pro-rated amount of the 189 advisory fee for the period in which the deposit or withdrawal occurs. The debit or rebate will be reflected the month following the activity. If you should have any questions, please contact your Advisory Representative.