The ATA Chronicle - July/August 2020 - 7

TREASURER'S REPORT
JOHN M. MILAN
john@milanlanguageservices.com

July to December 2019 + Budget
ATA has done well over the past five to six years and been able to save and invest
money for a rainy day. That rainy day is now here, and we'll need to proceed
cautiously to make sure that we keep the Association on solid footing.

T

his treasurer's report is a departure
from the norm. We'll still review
ATA's finances for the first six
months of the current fiscal year, but we'll
also look at how our financial situation
might be impacted moving forward in
light of the extraordinary circumstances
created by the COVID-19 pandemic.
The good news is that ATA is starting
from a strong position. We've done
well over the past five to six years and
been able to save and invest money for
a rainy day. That rainy day is now here,
and we'll need to proceed cautiously to
make sure that we keep the Association
on solid footing.
We know from recent years that, given
our current structure, as goes the Annual
Conference, so goes the Association's
finances. When we have a successful
event, the Association does well overall.
When a conference breaks even or reports
a loss, our bottom line takes a hit.
As such, ATA61 in Boston is front
and center on everyone's mind. There's
no easy solution here. We've had to
consider all options, including the
possibility of not having an in-person
event. But every alternative comes
with costs, some of which are easier to
stomach than others. As things stand
right now, the most palatable option
appears to be a virtual event. I discuss
the rationale and some of the potential

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costs/benefits in the Annual Conference
section near the end of this report.
For now, though, let's turn to our
traditional review of where the Association
stood prior to these impacts.

REVENUE AND EXPENSES
From July 1 to December 31, 2019,
ATA brought in $1.99 million in Total
Revenue, while incurring $1.76 million

in Total Expenses. The upshot was a
positive Change in Net Assets (before
investment activities) of $231,050
during this period. (See Figure 1 below.)
For comparison's sake, during this
same time frame in 2018, our total
revenue was a nearly identical $1.99
million, but the change in net assets
only totaled $190,577, mostly
because of higher costs incurred in
the Certification Program as people
rushed to take the exam before the
price went up.
Our biggest source of revenue for
the first six months of the current fiscal
year (2019-2020) was ATA Membership
($966,108), down slightly from last year
at that time (-1.4%). Updated figures
from the Palm Springs Conference
were a bright spot. We brought in
$850,364, a +3.1% gain over the New
Orleans Conference ($825,401), as the
only source of revenue that was higher
in December 2019 than in December
2018. All other revenue fell year-onyear, with Certification ($155,766)
down -3.5%.
There was some positive news
in terms of Total Expenses, which
were down -2.5% year-on-year, to
$1.76 million. The main reason was

Figure 1: Breakdown of Total Revenue (July 1-December 31, 2019)
Other Revenue,
12,587, 1%
PD-Webinar/Podcast,
2,910, 0%

Dividend/Interest,
20,288, 1%
Gain/(Loss) Investment,
44,767, 2%

Membership
Certification
Chronicle

PD-Seminars,
0, 0%

Conference
PD-Seminars

Conference,
850,364, 41%

Membership,
966,108, 47%

PD-Webinar/Podcast
Publications
Other Revenue

Publications,
1,330, 0%

Dividend/Interest
Chronicle,
3,477, 0%

Certification,
155,766, 8%

Gain/(Loss) Investment

American Translators Association

7


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The ATA Chronicle - July/August 2020

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