With the American economy grappling with the worst recession since the Great Depression, fiscal year 2009 (ending June 30, 2009) presented a unique combination of challenges that CAI had not experienced since its inception in 1973. While many membership organizations were adversely impacted in terms of membership, event attendance, advertising and sponsorships, we are proud that CAI held up remarkably well—even experiencing a slight increase in membership.
Membership is the core component for any organization like CAI. Revenue from member dues hit its budget target for the year and we experienced the highest member retention rate in many years. Clearly our members perceive value in their relationship with and participation in CAI.
One of the key areas where CAI provides value to our members is in professional development. In FY2009 we experienced 11 percent growth in professionals holding CAI designations. In addition, our annual Law Seminar in Palm Springs and CEO-MC Retreat at Torrey Pines in Southern California both surpassed expectations. CAI’s professional development courses improved their average attendance as the fiscal year progressed. While many other organizations significantly scaled back, or even cancelled their annual conferences, our National Conference in New Orleans experienced only a modest decline in anticipated attendance, and received excellent reviews from attendees.
On the expense side of the ledger, staff managed costs effectively to offset programs with lower than expected revenue. This resulted in a very small deficit from operations for the fiscal year.
Much like FY 2008, we felt the decline in the stock market as our investment portfolio’s market value declined by $271,000, and we had to record an unrealized or “paper” loss for that amount. We recognize that we have no control over the financial markets and believe our portfolio is sound and that values will return as the stock market improves. In fact, we have already seen steady progress in recovering these unrealized losses in the first half of FY2010.
Our potential for growth and development continues to be strong. Our programs and education have value and respect across the country and even around the world. Our investments over the past several years have made CAI a more efficient, effective and member-focused organization, and we are poised to secure our financial position and continue to expand the value of membership.
The 
financial statements received an unqualified (“clean”) opinion by CAI’s independent auditors. Our narrative Annual Report—a summary of activities, challenges, accomplishments and trends for calendar year 2009—will be published in the March/April 2010 issue of Common Ground™.
See the FY 2009 audited financial report for the Foundation for Community Association Research.
Respectfully submitted,
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Thomas M. Skiba, CAE
Chief Executive Officer |
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Stephen Albert, CPA
Chief Financial Officer |