NFPA Journal - May/June 2012 - (Page 58)

>>Treasurer’srePOrT BY WAYNE BOYD, TREASURER he NFPA treasurer’s annual report is issued to Association members as required by the Articles of the Association, Section 6.11, Paragraph 2, as adopted through Amendment to the Articles in November 2000. The economic environment remained very challenging for NFPA in 2011. The better-than-anticipated National Electrical Code® revenues in the latter part of 2010 did reduce publication revenues somewhat in 2011. This was compounded by reduced demand for all NFPA codes, especially those in the new construction arena. Membership levels declined slightly from 73,000 to 72,000. Acquisition of new members continued to be difficult to achieve in this economy, but retention of existing members improved. Training revenues were ahead of the previous year by approximately $1 million. Expenses were higher than they were in 2010, and this deliberate increase was a result of new and important initiatives arising from NFPA’s strategic plan. The organization incurred a small operating deficit, and, had it not been for the pension liability adjustment, NFPA would have had a positive surplus after real estate and investment returns. NFPA remains in a very sound financial position with a healthy cash balance, no debt, and total net assets of $189 million. T Statement of Financial Position Assets Cash and cash equivalents Inventory, accounts receivable, and other assets Investments Real estate investments, property and equipment Total assets Liabilities and net assets Accounts payable and accrued expenses Pension liability Deferred revenues Total liabilities Total net assets Total liabilities and net assets Statement of Activities Revenue Publications Membership Other Total revenue Expenses Operating (deficit)/surplus Real estate investments Pension liability adjustment Investment return Contribution to the FPRF endowment fund Change in net assets Net assets at beginning of year Net assets at end of year Statement of Cash Flows Cash flows from operating activities Cash flows from investing activities Net increase (decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year $’000’s 2011 30,755 17,637 137,150 53,931 239,473 7,618 26,340 16,312 50,270 189,203 239,473 $’000’s 2010 28,414 17,774 134,963 55,332 236,483 9,465 12,464 15,879 37,808 198,675 236,483 46,065 13,786 14,023 73,874 (74,058) (184) 1,995 (13,445) 2,162 0 (9,472) 198,675 189,203 8,503 (6,162) 2,341 28,414 30,755 64,450 13,892 13,449 91,791 (70,821) 20,970 3,238 (349) 12,497 (4,000) 32,356 166,319 198,675 19,304 (24,516) (5,212) 33,626 28,414 Membership 19% Training 12% Contracts 4% Other 3% 2011 REVENUE Publications 62% 58 NFPA JOURNAL MAY/JUNE 2012

Table of Contents for the Digital Edition of NFPA Journal - May/June 2012

Nfpa Journal - May/june 2012
Contents
First Word
In a Flash
Perspectives
Firewatch
Research
Heads Up
Structural Ops
In Compliance
Buzz Words
Outreach
Electrical Safety
Wildfire Watch
Treasurer's Report
Signal Concern
Giant Steps
13^3
Sprinklered Menagerie?
Free Samples
Eye on Health Care
Membership: The Sections
Expo Preview: Exhibitors' Showcase
Looking Back

NFPA Journal - May/June 2012