EIA Annual Report
Financial Overview

At the close of 1996 we had net assets of $2.4 million of which we had $1.3 million invested in our portfolio; the balance of $1.1 million represents pledges to be paid over the next five years. Our goal remains to have $10 million pledged by the year 2000.

We closed 1996 with a very successful conference in Boston which assessed the current state of the industry and evaluated the future economic impact of consolidation and recycling. The conference was generously sponsored by the Bank of Boston and the investment firm of Donaldson, Lufkin and Jenrette. Attending were more than fifty industry leaders.

Ez Koch, former NSWMA President, served as conference Chairman and Dean Buntrock, Chairman of WMX Technologies (now Waste Management, Inc.), was keynote speaker at the reception and dinner held at the JFK Library.

Board of Directors Update

At the Annual Meeting of the Board of Directors in November, Robert C. "Bob" Duncan, Chairman and CEO of J.C. Duncan Companies was elected 1997 Foundation Chairman and Frederick E. Leach, President and CEO of Leach Company was elected Vice Chairman.

Elected as directors were: Donald Moorehead, Jr., Vice Chairman of USA Waste; Lee Brandsma, Vice President of Groot Industries; Ronald J. McCracken, J.D., President and CEO of Bes-Pac; and Jared L. Cohon, Ph.D., Dean of the School of Forestry at Yale University.

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