PHOTO–Hansi Heckmair
(in the form of Interski donations and a $10,000 grant for development of the upcoming adaptive manual) amounted to $73,584 (1.8 cents).
EXPENSES
Out-of-pocket expenses in 2015-16 included general operating costs as well as the costs of publications, marketing, the cost of catalog goods sold, insurance, committees and education programs, training programs, teams, research and development, legal and accounting activities, and member services. Expenses decreased by $20,519 from $3,846,179 in 2014-15 to $3,825,660 in 2015-16.
PSIA-AASI’s expenditures support the association’s overall educational and promotional goals by carefully directing those expenditures to address membership needs at the division, national, and ski area levels. Key to this is the association staff , which enables development and delivery of educational products, events, and programs. Staff also supports the work of committees and teams as well as initiatives to increase
non-dues revenue, including sponsorship income and grants. Expenditures – broken down as a
percentage of each dollar spent – were as follows: personnel (31.2 cents); cost of catalog goods sold (13.4 cents); education seminars and
programs (17.3 cents);
marketing and meetings (4.6 cents); general and administrative expenses (21.4 cents); association magazine and editorial (5.9 cents); miscellaneous (1.3 cent). Depreciation is a non-cash item that is added back in to overall expenses. Adding $197,431 in depreciation – accounting for 4.9 cents on the dollar – raises overall expenses to $4,023,091.
THE BOTTOM LINE
PSIA-AASI operations generated positive cash fl ow of $255,262 as of June 30, 2016, due largely to savings in personnel and related benefi ts, cost-conscious adjustments in IT infrastructure/support, and other money- saving measures. Profi ts were put back into the association through an investment account as well as money put toward reserves and
education programs (including events and the PSIA-AASI Team to support enhanced member resources and training). Software upgrades and website
improvements resulted in a net decrease to cash of $75,006, but overall the association fi nished the year with a net income gain of $64,878. Total assets – otherwise known as member equity – increased from $3,323,945 in 2014-15 to $3,416,042 in 2015-16. T e board of directors recognizes that the association’s continued stable fi nancial health depends on many things, including the incalculable eff orts of dedicated volunteers, the hard work of national staff , and your continued devotion to students and your craft. T ank you for membership in PSIA-AASI. With prudent stewardship of association resources and an eye on what opportunities best promote your professional development, PSIA-AASI will continue to help you inspire lifelong passion for skiing and snowboarding. If you have questions or would like a copy of the 2015-16 independent audit, please email me at:
treasurer@thesnowpros.org.
BEING PREPARED
EDUCATION AND PRODUCTS FOR MAXIMUM PROTECTION
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