{"id":1072,"date":"2015-11-24T17:14:39","date_gmt":"2015-11-24T23:14:39","guid":{"rendered":"http:\/\/mikeraffety.com\/blog\/?p=1072"},"modified":"2023-08-19T16:32:27","modified_gmt":"2023-08-19T21:32:27","slug":"analysis-2014-toastmasters-tax-return-990","status":"publish","type":"post","link":"https:\/\/mikeraffety.com\/blog\/2015\/11\/24\/analysis-2014-toastmasters-tax-return-990\/","title":{"rendered":"Analysis of 2014 Toastmasters tax return 990"},"content":{"rendered":"<p><a href=\"http:\/\/mikeraffety.com\/blog\/wp-content\/uploads\/2008\/08\/dollar_note.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-53 size-thumbnail\" src=\"http:\/\/mikeraffety.com\/blog\/wp-content\/uploads\/2008\/08\/dollar_note-150x150.jpg\" alt=\"dollar_note\" width=\"150\" height=\"150\" \/><\/a>The 2014 990 tax return for Toastmasters International has been released.\u00a0 Total program revenue was up 7.5%, but salaries were up 17.5%.\u00a0 The number of employees increased from 161 to 179 (11%).<\/p>\n<h3>Expenses and vendors<\/h3>\n<p>Payroll was by far the largest single expense, at $9.1M (up 19%).\u00a0 Travel expenses were up sharply, from $610K in 2013 to $1,377K, a jump of 126%, but this would be because the 2013 international convention was in Malaysia.\u00a0 Internet services cost $78K (presumably hosting and\/or connectivity to WHQ).\u00a0 $19K was spent on &#8220;speakers&#8221;, and $11K on translations.<!--more--><\/p>\n<p>Expenditures on club-building and leadership training by world (not TM) region are interesting, it does cost significantly more to support members outside of North America.<\/p>\n<ul>\n<li>North America, $1.1M<\/li>\n<li>East Asia\/Pacific, $2.1M<\/li>\n<li>Europe, $534K<\/li>\n<li>Middle East\/North Africa: $266K<\/li>\n<li>Central America\/Caribbean: $66K<\/li>\n<li>Sub-Saharan Africa: $250K<\/li>\n<li>South America: $4K<\/li>\n<li>South Asia: $316K<\/li>\n<\/ul>\n<p>The five largest vendors for Toastmasters 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, 6% increase from previous year<\/li>\n<li><a href=\"http:\/\/www.asendiausa.com\/about-us\/the-company\/\" target=\"_blank\" rel=\"noopener\">Asendia USA<\/a>, $1.6M for shipping, no change<\/li>\n<li><a href=\"http:\/\/www.americaneagle.com\/\" target=\"_blank\" rel=\"noopener\">AmericanEagle.com<\/a>, $390K for web design, new to the list<\/li>\n<li><a href=\"http:\/\/www.nogginlabs.com\/\" target=\"_blank\" rel=\"noopener\">NogginLabs<\/a>, $367K for REP work, about the same as the previous year<\/li>\n<li>Will Do Company, $362K for supplies, new to the list<\/li>\n<\/ul>\n<p>It appears that Noggin&#8217;s work on the REP will be around $1M overall, if they work at the same pace for three years.\u00a0 Strangely, no health insurance company is listed in the tax return, despite paying Cigna $1.1M in 2013, and Freeman is not listed either (they put on the annual convention, $381K in 2013).\u00a0 16 more companies were paid at least $100K in 2013.<\/p>\n<h3>Employee compensation<\/h3>\n<p>Staff paid at least $100K must be reported, and they were:<\/p>\n<ul>\n<li>CEO Dan Rex, $396K total compensation, 13.5% increase<\/li>\n<li>COO Sally Newell-Cohn, $240K, 18.2% increase<\/li>\n<li>IT Director Hamidreza (Sam) Farajian, $215K, 2012 was a partial year)<\/li>\n<li>Controller John Bond, $154K, 4.7% increase<\/li>\n<li>Member Support Director Darci Maenpa, $138K, 14.0% increase<\/li>\n<li>Club Services Manager Kristen Rolapp, $113K, 5.6% increase<\/li>\n<li>IT Manager Mark Santos, $105K, new to the list<\/li>\n<li>PR Manager Suzanne Frey, $105K, new to the list<\/li>\n<li>IT Manager Ray Gallagher, $104K, new to the list<\/li>\n<\/ul>\n<h3>Revenue and assets<\/h3>\n<p>Total program revenue was up by 7.5%, roughly congruent with membership growth, to a total of $31.8M.\u00a0 The Toastmasters district conferences globally took in $5.2M in revenue (an average of almost $16 per member).\u00a0 The annual convention pulled in $1.4M.\u00a0 Magazine advertising earned $31K.\u00a0 For materials sold, the average profit margin was 12%.<\/p>\n<p>Total assets grew slightly, by 3.4%, to $50.8M, of which $44.2M is cash and investments, equal to 1.3 years of expenses, in the range of the recommendation for non-profits to have 1-2 years of expenses saved up in reserves.\u00a0 The land and building at WHQ is valued at a net of $4.9M.\u00a0 Inventory has decreased slightly again, by 5.4%, to $736K, indicating continuing focus on inventory management.<\/p>\n<p>In a first, Toastmasters International had to report on individual donors.\u00a0 This is only required if someone gave $5K or more, and in 2013, Matthew Winthrop of Boston gave $50K, apparently from his estate (<a href=\"http:\/\/www.legacy.com\/obituaries\/bostonherald\/obituary.aspx?pid=162125565\" target=\"_blank\" rel=\"noopener\">he died<\/a> on Jan. 1, 2013).<\/p>\n<p>Click here for the full <a href=\"http:\/\/mikeraffety.com\/blog\/wp-content\/uploads\/2015\/11\/Toastmasters-990-Final-from-Squar-Milner.pdf\">2014 tax return<\/a>.<\/p>\n<p><a href=\"http:\/\/mikeraffety.com\/blog\/2014\/11\/25\/analysis-toastmasters-international-form-990-tax-return-2013\/\" target=\"_blank\" rel=\"noopener\">2013 tax return analysis<\/a><\/p>\n<p><a href=\"http:\/\/mikeraffety.com\/blog\/2014\/10\/27\/analysis-toastmasters-international-form-990-tax-return-2012\/\" target=\"_blank\" rel=\"noopener\">2012 tax return analysis<\/a><\/p>\n<p><a href=\"http:\/\/mikeraffety.com\/blog\/2013\/09\/20\/analysis-toastmasters-international-form-990-tax-return-2011\/\" target=\"_blank\" rel=\"noopener\">2011 tax return analysis<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 2014 990 tax return for Toastmasters International has been released.\u00a0 Total program revenue was up 7.5%, but salaries were up 17.5%.\u00a0 The number of employees increased from 161 to 179 (11%). Expenses and vendors Payroll was by far the largest single expense, at $9.1M (up 19%).\u00a0 Travel expenses were up sharply, from $610K in [&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-1072","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\/1072","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=1072"}],"version-history":[{"count":5,"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/posts\/1072\/revisions"}],"predecessor-version":[{"id":1234,"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/posts\/1072\/revisions\/1234"}],"wp:attachment":[{"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/media?parent=1072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/categories?post=1072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/tags?post=1072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}