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BPW/USA FINANCIAL REPORT JULY 20, 2007

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1. BPW/USA FINANCIAL REPORT JULY 20, 2007 2. * 2007-2008 Budget AGENDA * F inancial Statements - Eight Months Ended May 31, 2007 3. <ul><li>Fully staffed…
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  • 1. BPW/USA FINANCIAL REPORT JULY 20, 2007
  • 2. * 2007-2008 Budget AGENDA * F inancial Statements - Eight Months Ended May 31, 2007
  • 3. <ul><li>Fully staffed headquarters </li></ul><ul><li>New technology (webinars) </li></ul><ul><li>New methods of communication (BW Ezine) </li></ul><ul><li>Implemented budgeting/forecasting tool </li></ul><ul><li>Renegotiated accounting services and database management contracts for a savings of >$25K/year </li></ul><ul><li>Renegotiated equipment contracts </li></ul><ul><li>Upgraded telephone system & integrated voicemail system </li></ul><ul><li>Developed 3-year financial/business projections </li></ul>Investing for the Future
  • 4. Operational Excellence <ul><li>Upgraded membership software </li></ul><ul><li>Implemented new credit card process </li></ul><ul><li>Developed RFP for new audit firm </li></ul><ul><li>Moved national conference registration process in house </li></ul><ul><li>Recovered $5K in obsolete equipment </li></ul><ul><li>Moved database to new server </li></ul><ul><li>Ongoing improvement and streamlining of website </li></ul><ul><li>Consolidated bank accounts </li></ul>
  • 5. Financial Statements 8 Months Ended May 31, 2007
  • 6. STATEMENT OF FINANCIAL POSITION ASSETS $ 1,827,263 $1,704,579 $1,358,244 Total Assets 1,080,147 1,200,938 988,465 Investments 57,392 45,319 32,108 Property and Equipment, net 50,002 104,638 184,602 Other Current Assets (61,022) (92,643) 3,643 Due (to) from Foundation $ 700,744 $ 446,327 $149,426 Cash 5/31/05 5/31/06 5/31/07
  • 7. LIABILITIES AND NET ASSETS 5/31/07 5/31/06 5/31/05 Accounts Payable $ 140,840 $ 173,014 $ 205,537 Deferred Revenue - Dues 525,944 564,903 615,230 Deferred Revenue - Other 87,122 153,078 47,580 Capital Leases 0 16,539 24,503 Temporarily Restricted NA 7,836 16,861 17,343 Unrestricted NA 596,502 780,184 917,070 Total Liabilities and $1,358,244 $1,704,579 $1,827,263 Net Assets
  • 8. STATEMENT OF ACTIVITIES For the 8 Months-Ended May 31, 2007 (106,582) (74,777) (42,194) Net Loss 997,649 965,987 945,750 Expense $891,066 $891,210 $903,556 Revenue 5/31/06 YTD Budget 5/31/07
  • 9. FUNCTIONAL EXPENSES $988,006 $965,987 $945,750 Total 392,411 332,129 272,174 Meetings, Programs, G&A 301,977 296,298 371,015 Outside Services $303,616 $337,560 $302,561 Salaries & Benefits 5/31/06 YTD Budget 5/31/07
  • 10. 2007 - 2008 Budget
  • 11. Investing for the Future <ul><li>New membership model </li></ul><ul><li>Friends of BPW </li></ul><ul><li>Additional advertising </li></ul><ul><li>Webinar programming </li></ul><ul><li>Reviewed and updated investment policy </li></ul><ul><li>Fully staffed headquarters </li></ul>
  • 12. Operational Excellence <ul><li>New membership categories of e-member and e-affiliate will provide a new stream of revenue </li></ul><ul><li>National conference built around member value </li></ul><ul><li>Increased national conference registration due to more aggressive and timely marketing efforts. </li></ul><ul><li>Lower professional/temporary fees </li></ul><ul><li>Webinar technology reduces travel costs </li></ul><ul><li>Conservative estimate of investment income. </li></ul>
  • 13. Membership Revenue Member Student e-Member Total Projected members at 9/30/2007 16,261 499 N/A 16,760 Projected members at 9/30/2008 15,147 485 325 15,957 Total Dues Revenue $ 915,314 $8,275 $22,875 $946,464 % Charge in Membership 2007 to 2008 -7% -3% +100% -5%
  • 14. The Turnaround Three Year Projection $ 7,885 $ (83,806) $ ( 195,382) $ (281,201) Net 1,773,250 1,756,760 1,786,514 1,809,303 Expense $1,781,135 $1,672,955 $1,591,132 $1,528,103 Revenue FY10 Estimate FY09 Estimate FY08 Budget FY07 Projection
  • 15. Net Revenues $(195,382) $(281,201) (472,762) (547,083) General & Admin (130,554) (106,092) Public Policy (200,060) (187,459) Education $ 607,994 $ 559,434 Membership FY08 Budget FY07 Projected
  • 16. Outcomes <ul><li>Greater use of technology for webinars and online training results in more programming at lesser cost and increased advertising revenue due to exposure to a wider audience </li></ul><ul><li>Reduced emphasis on internal issues at national conference results in more opportunities for networking and professional development </li></ul>
  • 17. Outcomes <ul><li>Friends of BPW/USA will increase visibility and enhance public image </li></ul><ul><li>E-memberships and e-affiliates allows us to partner with other organizations resulting in increased membership and increased advertising revenue </li></ul>
  • 18. Questions ? ? ? ? ? ?
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