By Cathy Brown, ISPI Treasurer and Director
As ISPI’s Treasurer, I’d like to take this opportunity to update you on the Society’s finances. Our fiscal year runs October 1 through September 30, so I can share the financial picture looking back to 2011-2012 and looking forward to 2012-2013.
Recognizing the economy was still struggling and some of the Society’s revenue-generating programs were not taking off as quickly as projected, such as accreditation and the Certified School Improvement Specialist, the Board acted conservatively (and realistically) by projecting a loss in 2012. During the Business Meeting in April 2012, there was reason to believe the loss could be more than anticipated, but fourth quarter revenue derived from new CPT applications, in-house CPT programs, a new online CPT Workshop, and successful public programs in September balanced things out. However, the Board realized doing “business as usual” was unwise and created a Board sub- committee to take a closer look at Society expenses and revenues. Led by Steven Kelly and working closely with Executive Director April Davis, this team arrived at a set of recommendations for reducing expenses without eroding service quality or diminishing staff effectiveness and projecting realistic revenue goals.
Eliminating office space rent was one recommendation that was implemented on November 19. This was simply the final step in transitioning the staff to work in a more virtual environment. Because this change could not take place until the current lease expired, the Society will not receive the full impact of this savings until 2013.Other reductions were made in Board travel and meetings, placing a temporary freeze on staff retirement contributions, and administrative activities. No cuts were proposed to staff or publications.
Our re-building efforts are in motion, and we very much want to keep the momentum going. We are confident the expense reductions we took this year and the realistic revenue projections will help us bridge the gap until new programs gain traction. Holding our conferences in less expensive, but equally desirable cities and facilities will help. The Certification and Accreditation Governance Committee is working on expanding and promoting our credentialing and accreditation offerings. We are looking to launch a Fundamental of Performance Improvement online course in early 2013. During the months of October and November, we awarded 32 Certified Performance Technologist designations. In addition, we continue to explore ways to grow our membership ranks by using social media, membership campaigns, and referrals.
Call to Action
I encourage each of you to support the Society and help ensure ISPI remains a strong and viable organization, so we have a credible performance improvement professional association to call our home. Recruit a colleague, contribute to ISPI Collaborate, or submit a Performance Improvement Success Stories video.
I look forward to meeting you all at THE Performance Improvement Conference 2013.