Good Stewardship of AUA's financial resources has been an organizational hallmark since its inception in 1902. The association's unwavering commitment to its members has been possible in part due to the prudent management of income generated by scientific meetings and products, development of industry support and investment funds, members' dues and contributions of time and talent.
Consistent and forthright financial judgment has helped the AUA overcome numerous financial challenges to the association's very survival while continuing to fulfill its mission:
- During the Great depression (1929-1939) revenue from member dues fell dramatically but the AUA was able to tap its investment reserves, cut back on operating expenses and accommodate members with economic challenges
- In the 1940's members serving the war effort were granted a hardship dues waiver
- In the 1970's support for urologic research came to the forefront but only $10,000 in grants could be afforded, by the 1980's through strategic financial planning research grants had grown to over $100,000 and today over $1 million dollars annually provided for research grants, patient education and research advocacy
In 2012 the AUA Board took further steps to embed that tradition of financial stability and planning into the AUA culture by developing a reserve policy and which assures commitment to a strategy of diversified asset growth and preservation of future funding for key initiatives. The AUA is now truly equipped to ensure its commitment to the promotion of the highest standards of urological clinical care through education, research and advocacy through the AUA's next century.