American Maritime Officers in April 2021 saw increased membership dues and initiation fee receipts, another operating budget surplus and sustained growth in its cash reserve and investment accounts.

Total revenue for the month was $897,072, and dues payments were $80,000 higher than had been projected.

The operating budget surplus in April was $24,715. While this total was short of the projected amount, it brought the year-to-date surplus to $573,962 - $243,000 above what had been projected.

Expenses totaled $877,072 - $112,000 higher than anticipated. This total reflects increased legal fees, insurance premiums, accounting fees and the last stage of a data management service transfer from one vendor to another - once completed, this will result in an annual saving to AMO of about $340,000 a year.

Cash reserves in operating and savings accounts totaled $1,302,576, and investment account balances totaled $14,116,858.

This favorable financial trend is a clear result of sound asset management coupled with greater timely payment of dues by deep-sea, Great Lakes and inland waters members and initiation fee installments made by applicants for AMO membership.

"Our year-to-date surplus is more than double the projection," said AMO Director of Business Administration Thom Heaton. "Dues payments continue to be strong, and they account for the growth of the surplus from January 1 through April 30."

Meanwhile, the AMO Vacation Plan reported that AMO members paid $1,163,544 in membership dues through member-authorized deductions from earned benefits from January 2021 through April. Initiation fees paid through the AMO Vacation Plan in the same period totaled $285,281.

AMO membership dues remain the lowest among the three U.S. merchant marine officers' unions. AMO is in its seventh consecutive year without a dues increase or an increase in its initiation fee.