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ISOC’s 2001 Budget Review

ISOC’s 2001 Budget Review. December 9, 2000 San Diego, California Michael E. Conn ISOC Treasurer. 2001 Budget Highlights. Great Job by Lynn, Don and Bob Vaughn Divided Budget into Four Pillars of Operation Standards Membership Education & Training Public Policy

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ISOC’s 2001 Budget Review

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  1. ISOC’s 2001 Budget Review December 9, 2000 San Diego, California Michael E. Conn ISOC Treasurer

  2. 2001 Budget Highlights • Great Job by Lynn, Don and Bob Vaughn • Divided Budget into Four Pillars of Operation • Standards • Membership • Education & Training • Public Policy • Based on a lean ISOC HQ operation • No CEO salary for last 10 months • Not replacing 3 headcount for the year • Would result in a $328K net gain

  3. ISOC’s 2001 Revenue Plan ($Thousands)

  4. ISOC’s 2001 Expense Plan ($Thousands)

  5. ISOC’s 2001 Net Surplus ($Thousands)

  6. ISOC Revenue Growth from Organizational Membership

  7. Total Organization Member Revenues $2.000M $1.825M $.285M $.650M $1.54M $1.35M $1.3M

  8. Org Membership Revenues Distribution Total Regular Org Revenues = $1,350K $203K (15%) $203K (15%) $270K (20%) $675K (50%)

  9. Individual Membership Revenues • Assumes no growth from 2000 • 1999 $219K • 2000 $220K • 2001 $220K

  10. ISOC’s 2001 Change in Expenses • Expected Reduction in Expenses $405K • 2000 Total Expenses $3.0M • 2001 Total Expenses $2.6M • Major Decreases in Expenses $685K • Reduce 3HC + CEO 10mth $410K • Reduce Conference Expense $275K • Major Increase in Expenses $280K • Increase RFC Editor Support by $150K • Increase Standards Support by $ 30K • Platinum Program Cost $ 20K • New Org Member Resource $ 80K

  11. ISOC’s 2001 G&A Expenses • G&A Moved to Pillar Specific Cost $400K • Ex: ISOC Membership FL HC in “Indiv/Chap Admin” • G&A Remaining $520K • Fully Loaded G&A Salaries $142K • Legal, Insurance, Auditing Fees $ 80K • BoT Support $ 85K • Depreciation $ 50K • Material & Supplies $ 40K • Professional Services $ 50K • Miscellaneous G&A $ 73K

  12. G&A Expense Distribution Total G&A Expenses = $520K $71K (14%) $58K (11%) $160K (31%) $231K (44%)

  13. INET Conference Net Profit • INET 1999 ISOC took financial risk • Resulting in a loss of approx. $265K • INET 2000 ISOC took Profit Sharing • Resulting in a profit of approx. $200K • INET 2001 ISOC takes Revenue Sharing • Expected Result approx. $190K • $240K ISOC part of Revenue Sharing • $ 50K ISOC Reimburse for expenses • $100K ISOC expected INET expenses

  14. ISOC Total Revenues, Expenses and Net Assets Trends

  15. ISOC Key Balance Sheet Indicators

  16. ISOC Cash Shortage Indicator Nov-00 Mar-00 July-00 May-00 Sept-00 Jan-00 Cash Shortage Indicator = Cash & Cash Eq. - Accounts Payable - Deferred Revenue

  17. Conclusions • ISOC poised for good financial year • Increased total Org Membership revenues • Lean headcount and operational cost • Expect $190K Profit from INET 2001 • Expect Net Income of $328K • ISOC recovering from major 1999 loss • May take 2 to 3 more years • Help Recruit Platinum and Org Members

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