If you are like most coaches, the business and financial aspects of running a business can be a daunting and perhaps the least inspiring part of our coaching life. Heck, I am an accountant, and I still do my best to avoid the bookkeeping! Yet, having your finger on the financial pulse of any business is critical.
Our 2017 Chapter financial statements will be formally presented for approval at a General Meeting of members at a breakfast meeting at 7:30 AM on Wednesday, June 20th at the Bow Valley Club. Join us for a quick overview of our 2017 financial results, and a “town hall” discussion of what is happening with your Chapter. Even if you are not attending the Meeting, please ensure that you return your proxy, as we need our financial statements approved by a quorum of our membership – a requirement of maintaining our not-for-profit standing as an Alberta society.
If you are not attending, the following is a quick update on the financial health and well-being of your Calgary chapter.
The Calgary Chapter exists to support you and preserve the integrity of the coaching profession by providing a forum for the professional development of its membership. We can only deliver this to you, our membership, if we can do this in a financially sustainable manner.
Executive (Coaches!) Summary:
- The Calgary Chapter runs on an annual operating budget of $40 to $50,000.
- Less than a third of this comes from your membership fees paid to ICF Global! (We receive US$31 of your total US$245 annual membership fee).
- The remainder of our revenues comes from our sponsors, and from your attendance fees at our many Chapter events, including our signature Day With The Masters event in the fall.
- We really need you to ensure that the Calgary Chapter remains a viable and sustainable community!
- In 2017, we effectively operated at a break-even level, matching our revenues with our program and administrative expenses.
- Our expenses are about equally comprised of (1) administrative costs, including insurance, maintaining our website and supporting technology, and (2) the direct costs of our educational programming.
- Our net assets at December 31, 2017 were just over $40,000, which includes $10,000 invested to support our Diane Bonneau training scholarship.
While we have a small cash reserve, we are below the guidelines issued by ICF Global, and look to ensure that all our programming is cost-effective and sustainable. This is a big reason why we conducted a survey of our membership earlier this year and look for your feedback at all our events: it is critically important that we ensure that we are maximizing the value to you as members with our relatively modest budget. Your feedback is always welcome.
One word comes up often at chapter meetings, in our survey responses, in dialogue with our members: community. One of the ways you can support your Calgary Chapter is by becoming a Community Member. Your $100 membership goes 100% to support the Calgary Chapter, provides us with an important source of funding for our programming and – importantly for you – provides discounts on our events that can easily exceed the cost of membership. In fact, if you plan to attend our Day With The Masters event on October 26 (early-bird discounted registration is open until August 15), you can recoup your entire Community Membership fee through this discount, while also demonstrating your support for the Calgary Chapter.
Hope to see you on June 20, but feel free to contact me anytime at email@example.com
Clint White, Calgary Chapter Treasurer