Let’s talk about Money!
Membership organizations like ASCE strive to provide maximum benefit while controlling the direct cost to members. Here are a few highlights from this year’s budget.
o The Revenue from all non-Institute lines of business including items such as membership dues, publications, conferences and continuing education, is budgeted to be about $45M with expenses equal to revenues.
o The Institutes are budgeted to generate approximately $9M in revenue with slightly higher expenses. (This is often due to the timing of conferences with planning and expenditures in different years than revenues.)
o Numerous programs and activities, such as Government Relations and Region support, are vital to all the participants . They generate no revenue but have significant expenses and importance.
o Investment earnings fluctuate due to market conditions and this year’s projection is about $4.7 M in income, including roughly $500k in Foundation fundraising. A little more than $1.1M of the investment earnings were approved by the Board for program expenses this year.
o Note that the Foundation dollars supplement many program budgets (student activities, leadership training, etc.) and are vital to those activities. Without these funds it would be impossible to keep the dues at the current level and provide the extent of activity desired by our members.
Takeaways
o It takes a lot of money to provide a high quality, meaningful experience for members.
o Donations to the Foundation (https://lnkd.in/eRQAJ_sQ) do a lot of good, even very small amounts add up quickly.
We continue to fine-tune our budgeting process to ensure expenditures truly align with our Strategic Plan. Get engaged, be informed, ask questions and support your professional society with time, talent and/or treasure to ensure a bright future for all civil engineers.
American Society of Civil Engineers Marsia "Marsie" Geldert-Murphey, P.E., F.ASCE Maria Lehman Dr. Feniosky Pena-Mora Edward Stafford Ken Mika, P.E. F.ASCE Rossana D'Antonio Isamar E. Brad Kubiak Carol C. Martsolf, PE, PMP, CPTD, LEED AP Christina Ammens Sarah Matin, P.E. Sean Merrell, P.E., PTOE, RAS, F.ASCE Erin Steever, PE Larry Magura Yazdan Emrani April J. Lander, JP, MEM, ENV SP, AM ASCE Dan Becker Karen Kabbes LeAnne Napolillo, P.E., F.ASCE
