{"id":958,"date":"2013-09-20T12:59:20","date_gmt":"2013-09-20T17:59:20","guid":{"rendered":"http:\/\/mikeraffety.com\/blog\/?p=958"},"modified":"2023-08-19T16:33:06","modified_gmt":"2023-08-19T21:33:06","slug":"analysis-toastmasters-international-form-990-tax-return-2011","status":"publish","type":"post","link":"https:\/\/mikeraffety.com\/blog\/2013\/09\/20\/analysis-toastmasters-international-form-990-tax-return-2011\/","title":{"rendered":"Analysis of Toastmasters International form 990 tax return for 2011"},"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\" alt=\"dollar_note\" src=\"http:\/\/mikeraffety.com\/blog\/wp-content\/uploads\/2008\/08\/dollar_note-150x150.jpg\" width=\"150\" height=\"150\" \/><\/a>The 2011 form 990 tax return for Toastmasters International is now available, and I&#8217;ve highlighted some interesting data from it here.<\/p>\n<p><a href=\"http:\/\/990finder.foundationcenter.org\/990results.aspx?990_type=&amp;fn=&amp;st=&amp;zp=&amp;ei=951300076&amp;fy=&amp;action=Find\" target=\"_blank\" rel=\"noopener\">http:\/\/990finder.foundationcenter.org\/990results.aspx?990_type=&amp;fn=&amp;st=&amp;zp=&amp;ei=951300076&amp;fy=&amp;action=Find<\/a><\/p>\n<p>Total revenue for 2011 was $23.3M, total expenses $22.3M, but that $1M was matched by investment losses, with a total excess for the year of $3,700 (this would be &#8220;profit&#8221; in a for-profit company).<\/p>\n<p>Net assets grew from $36.9M to $38.5M, or 4.3%, which seems roughly equal to club and membership growth. Fixed assets include land that cost $1.2M, buildings that cost $4.1M (book value after depreciation is now $1.5M), and equipment that cost $6.6M (book value $1.7M).<!--more--><\/p>\n<p>Cash reserves total $12.7M, plus $20M in investments and $4.5M in capital assets (land, building, equiment). Net assets of $32.4M are equal to 139% of annual revenue, which is about in the middle of the usual recommended range of 1-2 years revenue in assets for non-profits.<\/p>\n<p>Districts hold cash accounts with a total of $1.9M (an average of about $21K each), but this is not the reserve accounts at WHQ. The district reserve accounts do not appear to be separately reported.<\/p>\n<p>Salaries, other comp, and employee benefits total $6.7M for 2011, and there are now 136 employees reported. That&#8217;s an average of $49K per employee per year (though some employees are probably part-time, and contractors would not be counted).<\/p>\n<p>The five highest-compensated independent contractors are listed:<\/p>\n<ul>\n<li>IPC Print Services, printing &amp; mailing services, $822K<\/li>\n<li>Brokers Worldwide, printing &amp; mailing services, $801K<\/li>\n<li>Aetna, medical insurance services, $764K (that&#8217;s about $5,600 per employee on average)<\/li>\n<li>Shanahan Printing, printing services, $434K<\/li>\n<li>Express Postal Options Intl, mailing services, $428K<\/li>\n<\/ul>\n<p>There are 17 more vendors who received more than $100K in the year, but not listed.<\/p>\n<p>Interestingly, the rebranding vendor is not listed, so apparently they were paid less than $428K in 2011 (some people wildly speculated they got a million dollars). There&#8217;s an adjustment to the costs of educational materials of $2.3M, this may be a write-off on materials with the old branding. (The rebranding was announced in August 2011.)<\/p>\n<p>Highest paid employees (including retirement and other benefits) were:<\/p>\n<ul>\n<li>Daniel Rex, Executive Director, $353K<\/li>\n<li>Sally Newell-Cohn, director of communications, secretary-treasurer, $161K<\/li>\n<li>Vince Rinner, director of technology services (no longer with TI), $172K<\/li>\n<li>John Bond, controller, $151K<\/li>\n<li>Darci Maenpa, director of member support, $163K<\/li>\n<\/ul>\n<p>By comparison, Dan Rex made $297K in 2010 (2011 was a 19% raise over this), and made $255 in 2009 (2010 was a 16% raise over this).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 2011 form 990 tax return for Toastmasters International is now available, and I&#8217;ve highlighted some interesting data from it here. http:\/\/990finder.foundationcenter.org\/990results.aspx?990_type=&amp;fn=&amp;st=&amp;zp=&amp;ei=951300076&amp;fy=&amp;action=Find Total revenue for 2011 was $23.3M, total expenses $22.3M, but that $1M was matched by investment losses, with a total excess for the year of $3,700 (this would be &#8220;profit&#8221; in a for-profit [&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-958","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\/958","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=958"}],"version-history":[{"count":3,"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/posts\/958\/revisions"}],"predecessor-version":[{"id":1237,"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/posts\/958\/revisions\/1237"}],"wp:attachment":[{"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/media?parent=958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/categories?post=958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mikeraffety.com\/blog\/wp-json\/wp\/v2\/tags?post=958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}