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.
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.
You can play a part here: step up and serve one of the 22 international committees that advance this work.
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.
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.
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”.
If you have questions about IABC finances, please reach out to the IABC Treasurer, Ginger Homan, at ginger [at] ziacommunications.com
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.
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:
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.