Iowa - September 2020

AUGUST 2020 WRITTEN FINANCIAL SUMMARY
Operating Revenues:
Membership Dues our monthly budget for membership dues is $11,416.67, and with us eight months
into the fiscal year, we are ahead by $1,851.59.
Legislative Day was budgeted to bring in $14,500. We brought in $20,240.00. Our expenses were
$26,187.81, and that included the reception and doing the webcast. We budget to have a net loss of
$2,000, and this did not involve a legislative event. With the reception, our actual net loss was $6,147.81.
In 2019 we had a net loss of $4,061.51, and we didn’t have a reception. In 2018 we had a net loss of
$1,290.66.
Operating Expenses:
With eight months into our fiscal year, the following items are over budget:
Marketing is over by $500 related to the nurse’s month membership mailing that was done.
Legislative Services are over by $743.93 due to our increase in months needed for our legislative bill
tracking software.
Postage is over by $373.01 related to the nurses’ month membership mailing.
Website is over by $1,259 as part of the items we itemized in the budget under the technology line-item,
which is under budget by $1,065.03. Suggest combining these two-line items in 2021 next year.
Net Loss:
We ended the month of August with a net loss of $7,871.61. The loss will be recovered throughout the
coming months. Also, the expenses for the association are more massive during the first six months of
the fiscal year, related to the lobbyist contract. Non-dues revenue has a larger volume of income that is
received during the 3rd and 4th quarters. While INA won’t be making the net profit of $5,000 from the
conference, that was budgeted. The association will be saving $8,000 in travel and meeting expenses
since ANA Leadership Summit, Membership Assembly, and there won’t be any board meetings in person
for the remainder of the year. There will be a small amount yet to pay related to staff travel to close the
office. We budgeted to have a net profit of $325.00. As long as membership dues stay ahead of schedule
and with the fourth quarter non-dues revenue coming in, we should come with a net profit of $1,000 for
the fiscal year.
22 2020 ANNUAL BOOK OF REPORTS | YEAR OF THE NURSE