By Lisa Toenniges, CPT, ISPI Treasurer and Director

As the ISPI Treasurer, I’d like to take this opportunity to update you on the financial status of our Society. Our fiscal year runs October 1 through September 30, so I can share the financial picture looking back to 2010-2011 and looking forward to 2011-2012.

Looking Back
After weathering the poor economy in 2008 and 2009, as the Board did our planning for 2010, we projected a loss. You may or may not remember at the completion of 2010, I was able to report ISPI ended the year with a surplus. This was primarily due to a successful conference in San Francisco and several on-site educational programs.

Our mindset was much the same as the Board did planning for 2011. The economy was still limping along, our membership was still down from the recession, and we knew we had a great deal of re-building to do. So, for 2011 we again projected a loss. The logic for projecting a loss was so we could make investments for the future. I think we’ve all heard the saying, “sometimes you have to spend money to make money.”

Our 2010-2011 fiscal year ended with a loss and a loss just slightly more than planned. With that being said, however, the additional loss was not a surprise. During the year, the Board agreed to conduct a comprehensive member survey as a follow up to the one done in 2009 and invest in a social networking system. Neither of these items were included in our original budget.

While a loss is never a terrific thing, I am comfortable we were able to set a budget and keep to that plan.

Our biggest areas of financially strong performance were the conference, membership, book sales, advertising, and the Principles and Practices of Performance Improvement Institute.

Looking Forward
As we look ahead to the 2011-2012 fiscal year, we are again projecting a loss, although a smaller loss than for last year. Our re-building efforts are in motion, and we very much want to keep the momentum going. We will continue our marketing efforts, implement our new social networking system, focus on revenue sharing opportunities and partnerships, and expand credentialing.

As a Board, we are comfortable to project multiple year losses as we have current assets that are 10-fold our projected loss. Obviously, we can’t continue to do this for the foreseeable future, but we are confident our investments will pay off in the next several years and we will again thrive as a Society.

Call to Action
I encourage each of you to support the Society and help ensure ISPI remains a strong and viable organization so we each have a credible performance improvement professional association to call our home. Let’s celebrate the 50th anniversary of this great organization together in Toronto for THE Performance Improvement Conference 2012.