The most significant achievement of the Association has been the success of the Director in increasing the income of the Association to about $12,000 a year. This substantial uplift has come in part from a large number of Negroes, who now more than ever appreciate the value of their records and the importance of popularizing the study thereof. A large number of Negroes have made small contributions and as many as forty have given the Association $25 each this year. Through the strong endorsement of Dr. J. F. Jameson and other noted historical scholars the Director secured from the Carnegie Corporation the much needed appropriation of $5,000 a year for each of the next five years. With this income the Association has paid all of its debts except that of the bonus of $1,200 a year promised the Director for 1919-1920 and 1920-1921. Besides, the Association has been enabled to employ a Business Manager and to pay the Director a regular salary that as soon as practicable he may sever his connection with all work and devote all of his time to the prosecution of the study of Negro Life and History. The details as to how the funds thus raised have been expended appear in the following report of the Secretary-Treasurer: November 12, 1921. _The Association for the Study of Negro Life and History, Washington, D. C._ _Gentlemen:_ I hereby submit to you a statement of the amount of money received and expended by the Association for the Study of Negro Life and History, Incorporated, from September 30, 1920, to November 12, 1921. RECEIPTS EXPENDITURES Subscriptions $913.96 Printing and Stationery $5,731.53 Memberships 126.00 Petty Cash 709.90 Contributions 8,239.50 Stenographic Service 1,134.60 Advertisements 255.15 Rent and Light 438.61 Rent and Light 198.61 Miscellaneous 86.10 Books 75.40 Salaries 1,225.00 Traveling Expenses 77.21 -------- -------- Total $9,808.62 Total $9402.95 Balance on hand Balance on hand November Sept. 30, 1920. 48.86 12, 1921 454.53 --------- ------- $9,857.48 $9,857.48 Respectfully submitted, Secretary-Treasurer.