Joe Truncale
Joe Truncale

Public Relations Society of America reported a 15 percent jump in 2018 revenues to $13.8M, sparked by a sharp rise investment income, according to its recently released Form 990.

Investment income rose to $998K from $238.6K in 2017.

Program service revenues in 2018 advanced 8.8 percent to $12.3M. Membership dues & fees kicked in $5.2M of service revenues. Professional development ranked next at $2.9M, followed by sections support ($1.9M), student society ($913K), other ($732K) and awards ($645K).

CEO Joe Truncale, who stepped down in July 15, 2019, received $425,009 in 2018 reported compensation and $60,869 in other comp. Those totals changed little from the $421,536, $58,674 figures from the 2017 period.

CFO Phil Bonaventura (now interim CEO) earned $272,962 in reported 2018 comp and $57,262 in other comp. The 2017 amounts were $261,347 and $64,705.

PRSA paid a dozen contractors more than $100K during 2018. JW Marriott Austin led the pack with $466,657 for conventions services.

Grow Socially Inc. of Wilmington, MA, was next at $376,303 for marketing services. Denbo Multimedia of Brooklyn ($328,162), Innov8 Events Agency, of West Palm Beach ($320,244) and Hilton Austin Convention Center ($218,502) rounded out the Top Five contractor list.