Andrew Brook is the current Treasurer of the IPA. He oversees the IPA's treasury, investments and budget working closely with the Budget and Finance Committee as well as the Investment and Oversight Committee.
SUMMARY OF IPA FINANCES 2016
IPA Annual Income and Expenditures: $2.7m US, split among operational (committees and the like), governance (executive committee and board of representatives), and support (Lexicon and the staff who work there). Surplus for 2016: about $230,000 US, depending on how it is calculated, about 1/3 the surplus of most recent years.
- Membership numbers are up slightly but income has been stable at about $2.7m US for some years.
- Reserves: $6m US. Cash: $1.85m US. Property $4.15m US, of which Lexicon, our new headquarters, accounts for about $3m US. Currently, no investments. We will be undertaking a review of the reserves in the coming year.
- To assist poorer societies, a discount on IPA dues is available upon application in the autumn. This programme has been in place for ten years.
- Societies who pay all IPA dues by the end of March receive a 5% rebate.
- $1m US Candidate Loan programme, self-sustaining, continues.
- The Boston Congress (2015) lost about $350K US. The Buenos Aires Congress (2017) will probably lose money, too, due to lower than hoped-for registration, but, we expect, less money than Boston. Every effort is being made to reduce the registration fee but it was not possible for the current Congress due to costs in Buenos Aires being very high (higher, based on current information, than they will be in London two years from now).
- Fluctuating exchange rates have caused a variety of problems, especially with respect to paying back candidate loans, but have also sometimes worked to our advantage, especially because much of our income is in US dollars but the largest portion of our expenses is in UK pounds sterling.
- Many constituent organizations are in countries experiencing extreme economic turmoil and some are in countries experiencing political turmoil or authoritarian regimes. We do what we can to help (see 4 above).
- IPA dues have remained at $300 for those paying full dues for nine years. At some point, dues at this level will cease to produce enough income to meet our expenses.
In general, the IPA is in good financial health. This is due in no small part to the hard work and remarkable knowledge of our Finance Director, Simon Shutler.
CLICK HERE FOR 2017 BUDGET SUMMARY
Andrew Brook, Treasurer, IPA
The links below will open a pdf document for you to view the Trustees' Annual Report and accounts in printable form. For an overview of our spending, income and assets, please click here
to take you to the Charity Commission site.