{"id":1008,"date":"2014-10-27T17:13:19","date_gmt":"2014-10-27T22:13:19","guid":{"rendered":"http:\/\/mikeraffety.com\/blog\/?p=1008"},"modified":"2023-08-19T16:32:56","modified_gmt":"2023-08-19T21:32:56","slug":"analysis-toastmasters-international-form-990-tax-return-2012","status":"publish","type":"post","link":"https:\/\/mikeraffety.com\/blog\/2014\/10\/27\/analysis-toastmasters-international-form-990-tax-return-2012\/","title":{"rendered":"Analysis of Toastmasters International form 990 tax return for 2012"},"content":{"rendered":"<p><a href=\"http:\/\/mikeraffety.com\/blog\/wp-content\/uploads\/2008\/08\/dollar_note.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-thumbnail wp-image-53\" src=\"http:\/\/mikeraffety.com\/blog\/wp-content\/uploads\/2008\/08\/dollar_note-150x150.jpg\" alt=\"dollar_note\" width=\"150\" height=\"150\" \/><\/a>The 2012 form 990 tax return for Toastmasters International has some interesting data in it.\u00a0 Total program revenue increased by 21.6%, due in large part to dues increasing by 33% (from $54 to $72\/six month) on Oct. 1, 2011 (this was the first full year with the increase).<\/p>\n<p>Expenses did not increase as much, by just 17.6% from the previous year, mainly &#8220;district expenses&#8221; ($7.6M), salaries and wages ($6.3M), and the magazine ($2.1M).<!--more--><\/p>\n<h3><strong>Vendors<\/strong><\/h3>\n<p>The 5 independent contractors receiving the most money were:<\/p>\n<ul>\n<li><a href=\"http:\/\/www.walsworth.com\/company\/\" target=\"_blank\" rel=\"noopener\">Walsworth Print Group<\/a>, $1.7M, for printing and mailing services (magazine printing?)<\/li>\n<li>Brokers Worldwide (apparently now part of <a href=\"http:\/\/www.asendiausa.com\/about-us\/the-company\/\" target=\"_blank\" rel=\"noopener\">Asendia<\/a>), $1.3M, for printing and mailing services (drop-ship mailings to other countries?)<\/li>\n<li><a href=\"http:\/\/www.cigna.com\/cignastatedirectory\/cigna-in-california\" target=\"_blank\" rel=\"noopener\">Cigna Healthcare of California<\/a>, $0.9M, for employee health insurance (was Aetna the previous year)<\/li>\n<li><a href=\"http:\/\/www3.hilton.com\/en\/hotels\/florida\/hilton-orlando-bonnet-creek-ORLHHHH\/index.html\" target=\"_blank\" rel=\"noopener\">Hilton Orlando Bonnet Creek<\/a>, $0.6M, for the 2012 international convention<\/li>\n<li><a href=\"http:\/\/www.shanahanprint.com\/\" target=\"_blank\" rel=\"noopener\">Shanahan Printing<\/a>, $0.6M, for printing (probably educational materials, no longer printed in-house)<\/li>\n<\/ul>\n<h3><strong>Employee salaries<\/strong><\/h3>\n<p>There are now 149 employees (as of Dec. 31, 2012), up from 136 a year prior.\u00a0 Each employee also received &#8220;other compensation&#8221; (likely health insurance and a pension plan) amounting to an additional 10-20% of their published salary (as is common in the U.S.).<\/p>\n<ul>\n<li>Executive Director (title at the time) Dan Rex was paid $307K, a slight decrease of 1.4% from the previous year<\/li>\n<li>Sally Newell-Cohn, new title added of managing director, $177K, an increase of 21%.<\/li>\n<li>Vince Rinner, was technology director, $140K (partial year, I believe he left in October 2012)<\/li>\n<li>John Bond, controller, $135K, an increase of 9.6%<\/li>\n<li>Darci Maenpa, member support director, $129K, an increase of 15%<\/li>\n<li>Ron Leutbacher, technology services manager, $111K (not listed in 2011)<\/li>\n<\/ul>\n<h3>Annual convention<\/h3>\n<p>The 2012 annual convention is listed as having a total income of $757K.\u00a0 The only convention expense listed is the hotel (in the vendor section above), but there were certainly other large expenses, such as travel.\u00a0 There&#8217;s no way to see if the convention made money or how much.\u00a0 There&#8217;s $404K for &#8220;audio visual program service expenses&#8221;, which might be for the A\/V at the convention, or videos and podcasts from WHQ.<\/p>\n<h3>Assets<\/h3>\n<p>Assets increased by $4.7M to $43.3M (12%), largely through the increased membership fees.\u00a0 These funds were put into temporary cash investments, as well as publicly-traded securities.\u00a0 Cash and securities ($32.7M) are now equal to 1.25 years of expenses, on the lower side of the typical recommended range of 1-2 years of expenses (was 1.47 years in 2011).\u00a0 Expenses have increased more rapidly than savings.<\/p>\n<h3>Other points of note<\/h3>\n<p>There&#8217;s $179K for translation costs, $79K for Internet services, $34K for photography, $30K for speakers (presumably not loudspeakers?), and $30K for engraving. The district cash accounts total $1.9M (same as the previous year). There was $55K in revenue for ads in the Toastmaster magazine.<\/p>\n<p>Once again, the rebranding vendor is not listed, so apparently they were never paid more than about a half million in either 2011 or in 2012.<\/p>\n<p>See my <a href=\"http:\/\/mikeraffety.com\/blog\/2013\/09\/20\/analysis-toastmasters-international-form-990-tax-return-2011\/\" target=\"_blank\" rel=\"noopener\">analysis of the 2011 tax return here<\/a>, and see the full 2012 return itself here: <a href=\"http:\/\/mikeraffety.com\/blog\/wp-content\/uploads\/2014\/03\/2012-990.pdf\">2012 990<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 2012 form 990 tax return for Toastmasters International has some interesting data in it.\u00a0 Total program revenue increased by 21.6%, due in large part to dues increasing by 33% (from $54 to $72\/six month) on Oct. 1, 2011 (this was the first full year with the increase). Expenses did not increase as much, by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[134],"class_list":["post-1008","post","type-post","status-publish","format-standard","hentry","category-miscellaneous-toastmasters","tag-tax-returns"],"_links":{"self":[{"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/posts\/1008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/comments?post=1008"}],"version-history":[{"count":5,"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/posts\/1008\/revisions"}],"predecessor-version":[{"id":1236,"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/posts\/1008\/revisions\/1236"}],"wp:attachment":[{"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/media?parent=1008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/categories?post=1008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/tags?post=1008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}