{"id":1021,"date":"2014-11-25T16:32:09","date_gmt":"2014-11-25T22:32:09","guid":{"rendered":"http:\/\/mikeraffety.com\/blog\/?p=1021"},"modified":"2023-08-19T16:32:44","modified_gmt":"2023-08-19T21:32:44","slug":"analysis-toastmasters-international-form-990-tax-return-2013","status":"publish","type":"post","link":"https:\/\/mikeraffety.com\/blog\/2014\/11\/25\/analysis-toastmasters-international-form-990-tax-return-2013\/","title":{"rendered":"Analysis of Toastmasters International form 990 tax return for 2013"},"content":{"rendered":"

\"dollar_note\"<\/a>I’ve received and reviewed the 2013 tax return for Toastmasters International. It appears to identify the Revitalized Education Program (at least in 2013) as NogginLabs <\/a>of Chicago, “your guide to building the best e-learning in the world”, a “certified women-owned small business”. Toastmasters is included on their web site’s client list, and they appear to have a few employees in Toastmasters clubs, based on LinkedIn profiles.<\/p>\n

Total program revenue<\/strong> increased by 6.0% from 2012 (roughly in line with club and membership growth), and total expenses increased by 9.1%.\u00a0 Net “profit” was almost the same as the previous year, up 7.8% (about $3M each year).\u00a0 The biggest expense, salaries and employee benefits ($8.6M), are 30.1% of all expenses, and went up by 11.4%.\u00a0 Revenue is mostly membership fees ($23.5M), followed by district conferences ($4.1M), other district income ($1.0M), annual convention income ($0.8M), and charter fees ($0.2M).<\/p>\n

Sales<\/strong> (manuals, $1.8M) slightly exceeded cost of good sold ($1.7M), yielding a small profit on those items.\u00a0 Historically, items in the store are priced near cost, though it’s unclear where shipping fees are reported.\u00a0 Inventory levels decreased from start to end of 2014, from $979K to $778K, suggesting improved inventory management.\u00a0 Magazine advertising brought in $29K (which was unrelated business income, but tax-free, since the magazine costs more).<\/p>\n

Cash and investments<\/strong> add up to $43M at the end of 2013, compared to $37M at the start.\u00a0 The liquid-assets-to-annual-expenses ratio moved from 1.4 years of expenses to 1.5 years of expenses in the bank, right in the middle of the recommended 1-2 year ratio for large non-profits.\u00a0 In addition to that, land, buildings, and other capital assets are valued at $4.5M after depreciation.<\/p>\n

Total assets grew by 13.5%, while total liabilities grew by 11.1%; net assets grew by over $5M, or by 13.9%.<\/p>\n

Employees<\/h3>\n

There are now 161 employees (up from 149 the previous year, and 136 the year before that), an 8.1% increase, which accounts for most of the 11.4% increase in total salaries and benefits.<\/p>\n

Eight employees were paid over $100K and so are reported by name.\u00a0 Their compensation is 15% of the total organization compensation.\u00a0 In addition to the amounts listed below, they also typically received deferred compensation (like 401(k) matches) of up to $14K each, and other nontaxable benefits (like employer-paid health insurance) of up to $17K each.\u00a0 There was a separation payment to an employee, but is under a confidentiality agreement and details are not reported.<\/p>\n