This is the first World Conference where professional development credits can be collected this way. It is an essential part of our strategic commitment to certification—and to lifelong learning opportunities.
At some point we’ve all wondered how our membership dues are spent. In this post IABC Treasurer, Ginger Homan ABC, sets it all out.
Chapters & Regions
First of all, member dues are compiled from Chapter, Region and International dues. Chapters and Regions determine their fees — some Chapters charge $70, however in many cases it is more like $40. Some Chapters choose to not charge any dues at all. Regions dues range from $25-$90.
These dues are invested by your local and regional leaders in professional development, networking events etc. Speak to your local and regional Treasurer if you want to know more – and consider stepping up – it is a role that can really help you advance.
Dues to International is just one of several revenue streams to support work at the international level — 52 percent of the annual revenue; the largest single item. Next in line as sources of revenue are World Conference, Gold Quill and the Job Centre.
Some programs generate revenues, but not a cash return. These include professional development and certification. These two flagships from the 2011-14 strategy are still in the phase where they require significant investment to help them take off. They are expected to start generating a surplus in the coming years, which can then be reinvested.
Leadership Institute, chapter relations etc. are investments in our leaders. Whilst a net cost, they have a significant return in the form of impact in line with our Theory of Change.
Communication World is a membership benefit and is not designed to generate a surplus.
Investing to advance IABC’s strategy – and the profession
Building on the above, our dues support all IABC programs: those designed to generate a surplus for reinvestment – and those that don’t (but are benefits of membership).
Below is a list of the areas on the chart and examples of some of the items that category includes.
Speakers for webinars
Software to support the training program
Facilities, food, beverage, Audio/Visual support
Development of the certification program
Development and management of the exam
Costs of administering the exam
Membership / Chapter Relations
Scholarships to Leadership Institute and World Conference
Chapter Management Awards
Bank fees for processing payments
Finance / administration
Outside professional services including attorney, auditor, finance and human resources
Back office computer software and license fees
Executive Director travel
Board travel subsidy
Website and any other software not covered above + hardware
Consulting for the website and other software applications
You’ll note that the “Finance/administration” portion is 20 percent of the total investment. The norm for professional associations is 25-30 percent. The International Executive Board is committed to keeping that number as low as possible.
The IABC staff worked hard with the Finance Committee to create a balanced budget moving in to 2016. It is directly aligned to the board’s 2014-17 strategy:
“Financial recovery and sustainability is primary, as is the loyalty and development of our members and leaders and consolidating gains from the 2011-14 strategy. Increased reputation in the profession; better brand positioning; and greater interaction with business as a revenue generator are then the big opportunity to be grasped”.
This budget includes investing in:
The development of certification exam for the Strategic Advisor level
A Learning Management System, allowing the Academy to offer self-paced classes on IABC.com
The Global membership survey to determine what members value most
An Association Management System, software needed to improve our membership records and an individual’s experience with IABC
If you have questions about IABC finances, please reach out to the IABC Treasurer, Ginger Homan, at ginger [at] ziacommunications.com
You can also find updates in the latest quarterly report. Our annual report that will be issued at the Annual General Meeting at World Conference. We hope to see you there.
Much of the career advice we receive is focused on our personal actions – be assertive; promote your personal brand; learn to negotiate; get a mentor; network; speak up; improve your communications skills …
But no matter how close we follow that advice, many can’t break through to top management positions. What is the missing piece?
According to Susan Colantuono, it is business and financial acumen – and the ability to develop strategies based on that knowledge.
As communicators, financials are usually not on our list of fun things to do. As a former chapter president, I know that filling the treasurer role is a challenge – usually requiring arm-twisting and top-notch persuasion skills.
In reality, we should use this position to push outside our comfort zone and learn new skills. Taking on the role of treasurer is not just about paying the bills, it includes:
Creating a budget that is aligned with your chapter’s strategic goals
Committing to an annual budget planning process
Making strategic decisions about what stays in the budget and what needs to be eliminated
Determine what tools to use to track the finances
Training your board so they understand their role in financial management
Members in your chapter can use this role to increase their business and financial acumen – and to prepare for the next step in their career.
Watch the Ted Talk by Susan Colantuono as she shares the piece of career advice you might not have heard before – then share it with someone you’d like to fill the role of treasurer in your chapter.