2020 Budget Comparison & Narrative
Below is the 2020 Budget compared to forecasted FY19 YTD. Generally the 2020 budget is about a 50% increase in both expenses and revenue compared to FY19 forecasts. This change is largely driven by increases in Conference revenue/expenses. Conference expenses are mostly a variable cost driven by attendance. Returning to SF and Dublin in 2020 is expected to increase our attendance - and in particular SF is expected to drive higher than 2019 sponsorship revenue.
There is some recoding to do of 2019 revenue as the 2020 buget is more discrete when capturing Corporate revenue from Sponsorships, Membership and Event Sponsorships. The Foundation intends to experiment and launch an online training tool that is forecasted to generate $75,000. This revenue is offset by incremental project team staffing that can adjusted according to timelines.
For the seventh year in a row, Chapter expenses are expected be under $200,000. The team has confidence that migrating to the proposed “fair and reasonable” expense model will not increase chapter expense risk.
Travel expenses show one of the larger changes from FY19. Staff travel is expected to be less, as in FY19 some Staff travel wasn’t applied as expenses to conferences. Also the introduction of Project Summits with member travel is a new $150,000 expense in FY20. Staffing costs are generally flat when considering 1H19 had a 1/2FTE ED. Also increased commission-based revenue is better modeled this this year’s budget. Finally Bank Service Charges increases are driven by higher donations and event registrations. The migration from Paypal/Regonline to Stripe is essentially a lateral cost move for processing fees.
2020 Budget Comparison
FY20 FY19 YTD %Chg
Income
Conferences
Registrations $2,027,782 $686,206 195.5%
Sponsorships $1,680,000 $1,937,787 -13.3%
Other Conferences $50,100
Membership
Individual $143,750 $148,421 -3.1%
Corporate Sponsorships $175,000 $226,800 -22.8%
Merchandise $1,030
Donations $225,000 $148,361 51.7%
Interest $5,000
Online Training $75,000
Total Income $4,831,532 $3,198,705 51.0%
Expenses
Conferences $2,385,468 $1,559,811 52.9%
Projects $50,000 $47,526 5.2%
Chapters
Local Meetings $250,000 $175,488 42.5%
Local Outreach $25,000 $33,540 -25.5%
Marketing
Website Refresh $28,156
Event Promotions $50,000
Online, Branding, Trademark $50,000
Public Relations $50,000
Co-Marketing Partnerships $40,000
Travel
Board F2F Meetings (2x/yr) $50,000 $29,020 72.3%
Travel Assistance $175,000
Staff $75,000 $100,736 -25.5%
Legal & Insurance $10,000
Staffing $764,915 36.6%
General & Administration $157,000
Community & Membership
Programs $682,000
Projects
Marketing
Events Management
Fundraising & Development $206,200
Professional Services $120,000 $130,946 -8.4%
Bank Service Charges $68,000 $30,478 123.1%
Other G&A $60,000 $63,983 -6.2%
Software/Internet/Hosting $10,000 $44,484 -77.5%
Bad Debt $10,000
Total Expenses $4,523,668 $3,009,083 50.3%
P/L $307,864 $189,622 62.4%