Dear ICES Family,
I wanted to take this time to give everyone an update on where ICES is financially since the implementation of the cuts the Membership made in Ohio. ICES is in a much better position than what we were facing a year ago and we are turning the tide to financial solvency. But there are still cautions we must take.
· 2018 Ohio Convention: The good news is that we did not have any hotel attrition costs associated with the Ohio Convention. The preliminary financial report indicates a loss of around $30,000.00. We are still awaiting final reports to share with you.
· 2019 Little Rock Convention: This will be the last Convention under contracts signed in 2013. We have large minimum spend requirements, as well as attrition at the released overflow hotel. Your show directors are working hard to make this a great show and to end with positive proceeds. It is imperative that we get as many people in attendance as possible. If you haven’t already signed up, I encourage you to do so. Remember, you can participate in many of the challenges even if you are not able to attend. Your support is appreciated.
· Membership Rates: Good news, Membership is up! We are moving in the right direction. At this time Membership Dues are our main source of income to cover the expenses of running the organization. Now that we are all Digital and providing the same things whether you are a Full Member, Associate, Gold Key, Student, Charter or Lifetime; the most a membership costs is $45 per year. Yes, we no longer have the cost of printing the magazine, but we still have the computer programs that create the newsletter, Nxtbook that distributes it, and the App Fees associated with this. In most organizations, people pay their memberships annually at a set time during the year, giving the organization a clear indication of where their budget should be. ICES is an anomaly in that over half of our membership is paid in advance. We have members paid up through 2025! While this is great, it poses additional problems for ICES, as we run on a Cash Accounting system. If only ½ of our membership pays in any given year, our membership income is less than $35,000 a year. This does not cover the expenses of running the organization. It’s time to work together.
· Programs: A 2017 motion has mandated that all ICES programs (with the exception of the General Scholarship Fund) be self-sufficient, self-funding. Every program except Convention has achieved this goal. Throughout the years, program expenses have been reassigned to various sources, so we are working to bring all of those back into proper alignment so we can get a true picture of how your money is being spent. At this time we need our programs to do more than just break even, we need their help to support the organization as a whole. We are all in this together for the future of ICES.
I hope you can see that this board has worked very hard to continue to curb expenses, account for both income and expenses in the proper accounts, and to keep the membership apprised of where we stand. We will once again be presenting a detailed report at the General Membership Meeting. Things are looking for better for ICES. The future is looking bright. Let’s keep this trend going!