Membership dues debt declines significantly

Dues debt to American Maritime Officers declined by $212,123, or 23.4 percent, between May 1 and June 1.

Initiation fee installments paid by applicants for AMO membership under the five-year schedule rose by a scant $6,582 among 631 applicants during the month.

Coupled with sound asset management, this encouraging trend of dues delinquency rates falling as receipts rise allows AMO to sustain a steady streak of monthly operating budget surpluses, which in turn boost the AMO operating, cash reserve and investment accounts. It also allows AMO to operate in its eighth year without a membership dues increase or a hike in the initiation fees.

"We continue to see huge improvements," said AMO Director of Business Administration Thom Heaton. "We are on track to meet or exceed a 2022 year-end operating budget surplus of $1 million."