ANA-Michigan 2021 Annual Book of Reports

2021 ANNUAL BOOK OF REPORTS
Financial Statements
2021 Year-End Written Financial Summary
Operating Revenues:
Membership Dues: This fiscal year, we budgeted to receive a monthly average of $20,833.33
per membership dues. We ended $10,889.46 ahead of budget and averaged a monthly income of
$21,740.79 from dues.
Conference Income: 2021 was the Association’s first virtual conference, and we had a net profit of
$7,697.00. The 2020 conference was entirely canceled due to COVID, making 2019 the last in-person
conference we held, which resulted in a profit of $7,112.74.
Partnership Program: The newly launched partnership program has brought in additional new
revenue totaling $5,500.00.
RN Connect: $5,000 grant money for ANF was received to be a part of the RN Connect program.
NSO: Revenue is ahead by $1,500 as they contributed an additional $1,500 in sponsorship. The
Association budgeted $3,000 per their contract. Due to the facilitation of ANA selecting NSO over
Mercer, NSO gave the states who had NSO prior a one-time extra sponsorship for $1,500 in 2021.
Personal Benefit Program: ANA’s royalties for the personal benefit program have increased
significantly, resulting in $1,512.07 unplanned revenue. In 2019 and 2020, ANA-Michigan received
less than $500 each year. Thus, we removed the line item from the budget.
Operating Expenses:
Outside Contract Services: This line item is over budget. The $17,500 contract for education
assessment, $3,500 for strategic planning, and $7,750 for the first installment for the contract
regarding Ignite Sessions and Empowered Leader Series. The fee for our strategic planning facilitator
was the only line item planned for when we did the 2021 budget.
Net Profit
We had anticipated a net profit of $1,900; instead, we made a net profit of $12,878.16.
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