Budget Overview

03/04/2018 7:52 PM | Anonymous member (Administrator)


Kaila Simpson Jacoby
PTCMW Treasurer
American Institutes for Research

PTCMW Snapshot


PTCMW is pleased to report another wonderful year in 2017, our 40th year offering professional development and networking opportunities for I/O professionals in the DC area and nationwide! We continued to have a healthy budget thanks to our supportive sponsors and member participation.  As a non-profit organization, our funds are always used to support new ventures and continue to bring in high quality speakers at our monthly events. Below is a snapshot of the health of our organization, followed by a summary of 2017 actuals and 2018 budget.


2017 Actuals and 2018 Budget

As shown below, PTCMW has planned a 2018 budget in line with the actuals from 2017. Note that—due to the comfortable amount that we have in assets ($47,204)—we have planned investments in our organization that result in a slight loss (in 2017 and 2018). We reevaluate this target each year.

INCOME

2017 ACTUAL

2018 BUDGET

1.1 Monthly Events

$2,760

$2,845

1.2 Graduate Student Consulting Competition

$280

$300

1.3 Fall Event 

$18,790

$19,075

1.4 Membership Dues (not including those from the fall event) 

$4,960

$4,875

1.5 Miscellaneous 

$0

$0

TOTAL INCOME

$26,790

$27,095

EXPENDITURES

2017 ACTUAL

2018 BUDGET

2.1 Monthly Events 

$3,483

$5,745

2.2 Graduate Student Consulting Competition

$2,628

$2,750

2.3 Fall Event 

$16,262

$16,262

2.4 Website and Software 

$1,704

$2,278

2.5 Finance Charges 

$756

$777

2.6 PTCMW Professional Organization 

$1,057

$1,205

2.7 Membership Benefits 

$3,124

$1,000

2.8 Miscellaneous 

$1,000

$1,450

TOTAL EXPENDITURES

$30,014

$31,467

NET INCOME OR EXPENDITURE

($3,224)

($4,372)

2017 Actuals

In 2017 we continued hosting monthly events at McCormick and Schmick’s in Crystal City.  Our paid events tend to be a near break-even for the budget. In 2017 we also offered several events free to members, including a Speed Networking event and a joint PTCMW/SIOP Reception.

The 2017 Graduate Student Consulting Competition, sponsored by PDRI, had yet again a strong showing of students working together to solve a real organizational challenge. The event provides participants with a realistic job preview, an expanded professional network, and an opportunity to enhance their communication and consulting skills.  We had 17 students register for the competition, working in teams to develop a proposal and presentation. We offered an award of $2,000 (split among the first and second place team members) and continue to be impressed with the caliber of our competitors each year – this money is well-deserved! The event sponsor covers meeting costs, therefore the only costs PTCMW incurs are the prize and the happy hour for participants.

Our largest source of income (and expenses) each year is the Fall Event, and George Washington University continued to be a hospitable and convenient location. As has been the case each year, the event was a success, with an impressive panel of speakers, strong support from our sponsoring organizations (our largest sponsorship year to date!) and participating government agencies, and invaluable opportunities to network and win prizes. We even had an additional gold sponsor this year, which meant we handed out four iPads to lucky raffle winners.

Other Income: Our largest membership gain during the year is during the fall, when we pair Fall Event registration with membership dues. However, we do have steady membership growth during the year, and this is a modest source of income for PTCMW.

Other Costs: You may have noticed that in 2017 we made some website improvements in the name of rebranding and better organization of information. (Visit our site to see how they turned out! http://www.ptcmw.org/) In 2017, one of the membership benefits we offered was free entry, food, and drinks at our PTCMW 40th Anniversary member event. The event was a huge success, with nearly 100 attendees. We also incurred standard professional organization expenses such as our mailbox and Adobe Systems software for our newsletter. Lastly, PTCMW is thankful for our strong support from partners each year, and we continue to support these partnerships through contributions to conferences and awards. Currently, we contribute each year to the IPAC conference and Stephen E. Bemis Award.

2018 Budget

In 2018, we are expecting another strong year. We will continue to hold monthly meetings, with at least seven of those being paid. We also plan to hold one workshop event in the summer, which has a slightly higher registration cost due to the extended format. By periodically offering attendance/membership bundles, we aim to convert new faces into long-term members. We look forward to the same level of participation in the 2018 Graduate Student Consulting Competition, and will again reward the winning teams with a healthy prize of $2,000 to split. We have already begun initial planning for the 2018 Fall Event, and as always the event will include high quality presentations, food and beverages, and plenty of PTCMW gear to get you through the year. In 2018, we expect other recurring costs but have not planned any significant new expenses.

Comments or Questions?

Feel free to email me with any comments or questions about the budget at treasurer.ptcmw@gmail.com. We are always open to considering alternative event locations that may be even more convenient for members and cost-effective for PTCMW. If you have suggestions for event improvements, please email our Vice President, Gee Rege (vp.ptcmw@gmail.com). If your organization would like to partner with us on future monthly meetings or workshops, please reach out to me for more information on sponsorship opportunities.


2017 © PTCMW

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