18 Feb Letter from President McKenzie: Chapter Finances
The AIA Cincinnati Board takes its responsibility for guarding the financial health of the chapter very seriously. We understand, though, that chapter financial information has not always been consistently shared over the years. So, I’ve decided to take my February letter as an opportunity to share some information on where AIA Cincinnati gets its money and how it is spending it.
As I am sure you are aware, as a member of the Cincinnati chapter of AIA, you are also a member of AIA National and AIA Ohio, and the dues you pay each year get divided between those three levels of the organization. For 2018, the dues breakdown was as follows for AIA members (Associate Members pay different amounts):
AIA National: $276.00
AIA Ohio: $134.45
AIA Cincinnati: $184.64
These membership dues are a very important part of the money AIA Cincinnati uses to operate each year, but they are definitely not the only income that the chapter relies on. The Title Sponsorship program provides a significant source of income for the chapter, and the chapter’s programs like VISION, events like Golf, and awards programs like CRAN and CDA provide additional income. Finally, AIA still sells contracts! AIA Cincinnati sells paper copies of popular contracts and also receives a share of electronic AIA documents sales as well. Below is a pie chart of AIA Cincinnati’s 2018 Income Streams minus directly associated expenses (like golf event costs, award program rental fees, etc).
So, now that you have a better idea of the income streams AIA Cincinnati realizes, I’m sure you are interested in how AIA Cincinnati spends this money. The following chart shows the general categories of annual chapter expenses.
For the first time in several years, AIA Cincinnati ended 2018 with a small loss, spending about 10% more than we brought in. The biggest reasons for this were a year off from income generation with the CRAN awards and one-time expenses related to opening and moving into the new design center space. This was an intentional choice made by the board and made possible by several recent years where the chapter operated at a profit each year, building a significant reserve fund. Our budget for 2019 is once again balanced and projecting a small profit at the end of the year.
As always, please don’t hesitate to contact me with any questions or comments. Allison McKenzie firstname.lastname@example.org