|May 26, 2010|
|PRSA Q1 Revenues Dip 10.6%|
|By Jack O'Dwyer|
|Revenues of the PR Society, which fell 14% in 2009 to $9,989,101, continued to decline in the first quarter.|
Revenues in Q1 of $2,392,366 were 10.6%, or $286,146, below revenues of $2,678,512 in the first quarter of 2009.
Biggest decline was in registration income for the annual conference in Washington, D.C., Oct. 16-20, and seminars/webinars. This fell 39% to $219,656 from $362,388.
One hundred and ten chapter presidents-elect, 16 section chairs and 10 district chairs will each receive stipends of $550 to offset costs of attending the "Leadership Rally" June 4-5 at the Marriott Downtown – a total $74,800 (see document).
The financial report, posted in the members-only area as a link and without an attached story, does not break out conference from seminar/webinar income.
Conference Cost: $1,275
March 1 was the deadline for "early bird” conference registrations at $1,025. Only full registrations are available to members now at $1,275.
Seminar/webinar income fell 48% in 2009 to $703,955 from $1,356,300 in the previous year. Also down in Q1 was sponsorship income, off 21% to $143,014 from $181,091.
Dues income, which declined 7% in 2009 to $4,437,505, fell 5% in Q1 to $1,472,543.
Gary McCormick, chair/CEO, PRSA
There was a 31% increase in advertising income in Q1 to $83,964 from $63,670.
The loss on publications in 2009 was $899,488 as expenses totaled $1,231,003 and income, $331,515.
Both the monthly Tactics and quarterly Strategist continue to have print versions, although the Society stopped publishing the print version of its members' directory as of 2006 claiming that printing and postage were too expensive. Some members have asked for a PDF of the members' directory but have yet to receive an answer.
Gain of $244,491 Reported
Operating income of $244,491 was reported for the quarter as staff pay/fringes were cut 6% to $1,275,685; depreciation and equipment rental cut to $48,708 from $86,785; postage and shipping cut to $71,154 from $102,521, and several other cuts made.
There are no financial reports in the "press” area of the Society website. Financial reports are not carried on the first page of the Society website. There is a link to the financial report in the members’ area but no text is provided.
'Leadership Rally' Hosts 136
The Leadership Rally June 4-5 at the Marriott downtown provides stipends of up to $550 for 110 chapter presidents-elect, 16 section chairs and ten district chairs.
The Society will provide breakfast and lunch each day and a dinner Friday night for the attendees.
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