Dear NAHJ members,
Our organization kicked off this year in solid financial health and prospects for another great year to come.
2012 Results
We ended 2012 with a positive balance of $377,172 based on revenue of $865,772 and expenses of $488,600. Those figures are a result of the major budget overhaul the previous board of directors (2010-2012) instituted. We cut down major overhead costs such as staff, office space, accounting, and other professional services that our organization could no longer afford. I applaud the previous board for making tough decisions that set us up for a much better financial position moving forward.
Here’s a chart that illustrates what was budgeted for 2012 verses actual results:
2012 Financial Results
| 2012 | Actual | Budget |
| Total Income | $865,772 | $930,750 |
| Total Expenses | $488,600 | $788,704 |
| Net Income | $377,172 | $142,046 |
Both our total income and revenues came under budget. Fortunately, our income was 93 percent of the budget while our expenses came in at 63 percent of what was budgeted. It’s typically better to lower your expenses than it is to lower your income, but in our case, we lowered expenses more than our income resulting in a positive balance. These figures are not final and may change slightly because UNITY is still finalizing its results and has informed us that we may have been over-paid for last year’s national convention. It may take several months to settle that matter.
Another important figure to look at is net assets, which basically includes all the money and assets our organization has. As of Dec. 31, 2012, our net asset balance was $689,494.84, which is more than double what it was the previous year. Our accountant tells me a strong balance sheet is crucial for any nonprofit and should give our members, sponsors and other supporters a vote of confidence in our organization.
2013 Budget
Looking ahead to 2013, the Board of Directors just unanimously approved a budget for this year that anticipates greater revenues and expenses than 2012.
What’s new this year:
- We added two permanent staff members: Executive Director Anna Lopez Buck and Director of Programming Leslie Ann Frank.
- The convention is our largest expense (25 percent), but also largest source of income (51 percent). Its success is vital to the financial strength of NAHJ.
- The projected income is contingent on securing sponsorships of $311,834 and registration revenue: $155,600.
- If we can’t reach the sponsorship goal, then we will scale back our expenses, but we believe this is a reasonable goal to attain.
Here’s a quick snapshot:
| Total Income | $1,116,634 |
| Total Expenses | $954,603 |
| Net Income | $162,031 |
Here’s how it breaks down:
| General & Admin | $108,000 |
| Fund Raising | $25,000 |
| Members | $115,500 |
| Communications & Public Affairs | $4,000 |
| Education Programs | $175,000 |
| Profess. Dev | $80,000 |
| Board of Directors | $45,000 |
| Convention | $564,134 |
| Total Income: | $1,116,634 |
How Expenses Break Down
| General & Admin | $426,542.95 |
| Fund Raising | $1,900.00 |
| Members | $62,329.00 |
| Education Programs | $166,300.00 |
| Profess. Dev | $55,410.00 |
| Board of Directors | $8,030.00 |
| Convention | $234,091.00 |
| Total Expenses | $954,602.95 |
In closing, the Board of Directors anticipates another successful year for NAHJ and meeting our financial goals is a key component to making that happen.
Here’s what you can do:
- Pay your dues.
- Encourage new members to join.
- Attend the national conference.
- Fundraise with your local chapter or region.
Feel free to contact me with questions or feedback. I would love to hear from you!
We will provide more detailed information at the membership meeting in the Excellence In Journalism national conference in Anaheim. Also, members can request complete reports and financial documents at any time from the NAHJ executive director.
Un abrazo,
NAHJ Financial Officer
blanca.a.torres@gmail.com
