Tag Archives: finance

How Membership Dues Are Invested

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

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Ginger Homan

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.

2016 IABC Who Does What
Who Does What

International

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.

You can play a part here: step up and serve one of the 22 international committees that advance this work.

Investing in our leaders and our members

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.

 

2016 theory of change circles
IABC’s Theory of Change

 

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).

2014 Annual Report Income Expenditure Breakdown donuts
Revenue / Expense breakdown at the International level – look for the next update in the annual report released this June.

Below is a list of the areas on the chart and examples of some of the items that category includes.

  • Professional Development
    • Speakers for webinars
    • Software to support the training program
  • World Conference
    • Facilities, food, beverage, Audio/Visual support
    • Keynote speakers
    • Meeting production
  • Certification
    • Development of the certification program
    • Development and management of the exam
    • Costs of administering the exam
  • Gold Quill
    • Evaluation
    • Banquet
    • Awards
    • Software infrastructure
  • 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
    • Depreciation
  • Governance
    • Executive Director travel
    • Board travel subsidy
    • Insurance
  • Information Technology
    • 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.

Balanced Budget

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.

Members of Finance Committee

  • Ginger Homan, ABC, IABC Treasurer
  • Michael Ambjorn, IABC Chair
  • Dianne Chase, IABC Vice Chair
  • Victoria Dew
  • Ron Fuchs, APR
  • Alain Legault, MA
  • Carlos Fulcher, MBA, CAE

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You can play a part here: step up and serve one of the 22 international committees that advance the work of the association, and the profession. Or consider running for Treasurer of your local chapter or region. It is a role that can really help you advance.

The Missing Advice to Career Advancement – And How IABC Can Help

Ginger Homan
Ginger Homan

Guest post by IABC Treasurer, Ginger Homan ABC:

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.

Let me know how you get on.

@gingerhoman