| WAA takes its financial stewardship role seriously, and as we pursue our goal of creating programs that support UW-Madison and its graduates, we endeavor to be conscientious and efficient in managing the funds entrusted to us through programmatic revenues, gifts, and - most importantly - the dues paid by our members. Over the last five years, we have seen steady growth in both gross assets (which climbed from $7,188,152 in 2001 to $8,110,715 in 2006) and net assets (which rose from $4,767,509 in 2001 to $5,610,187 this year). That funding provided the support necessary to launch the programs shown throughout this report. Thank you, proud Badgers, for helping WAA to keep UW-Madison a part of your lives and a resource for all of the university's graduates, students, and friends. Revenue Membership includes annual dues, Super Memberships, and new Life Memberships, and it continues to be WAA’s primary source of revenue. University services include all of the alumni relations work WAA provides to campus entities. Royalties, which include earnings from sponsored products, remain a consistently important source of support for WAA programs.
Expenses UW grads are still WAA’s primary focus. Services to alumni — both programming and member benefits — account for nearly two-thirds of WAA expenses. Programming directed at campus and students increased from 18 percent of WAA’s expenses in 2004–05 to nearly 20 percent in 2005–06, and administrative costs fell from 17 percent to under 16 percent.
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