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%