ALA Financial Report Analysis for FY 2019

The ALA Treasurer's report presents the financial results for fiscal year 2019, covering revenue sources, general fund summary, actual revenues and expenses, and a breakdown of expenses by category. The report highlights variances between budgeted and actual figures, providing insights into the financial performance of the organization.

• ALA
• Financial Report
• FY 2019
• Revenue Analysis
• Expense Breakdown

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1. 2019-2020 ALA CD #13 2020 Midwinter Meeting Treasurer s Report to Council - Membership Information Session - FY 2019 YEAR-END FINANCIAL RESULTS TO ALA COUNCIL, EXECUTIVE BOARD AND MEMBERSHIP Presented by: Maggie Farrell ALA Treasurer Saturday - January 25, 2020 Philadelphia, PA

2. Where Does Our Revenue Come From? - Total ALA - Other $3,376,118 Dividends & Interest Income $1,416,712 Contributions $1,520,256 Grants & Awards $7,310,332 Meetings & Conferences 11,728,258 Publishing $16,091,562 Membership Dues $8,128,984 $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 $16,000,000 $18,000,000 Source: Draft audited financial statements FY19 dated 1/9/20 2

3. General Fund Summary 2019 2018 2017 $ 27,020,473 $ 28,544,444 $ 27,669,658 Revenues $ 31,099,589 $ 29,420,976 $ 29,002,985 Expenses Net Operating Expense $ (4,079,116) $ (876,532) $ (1,333,327) Source: Internal financial reports - final close dated 11/4/19 3

4. General Fund Revenues Actual 2019 $ 5,387,110 Budget 2019 $ 5,516,800 Variance $ (129,690) Dues $ 11,210,848 Publishing $ 11,979,464 $ (768,616) Meetings & Conferences $ 8,240,158 $ 8,044,740 $ 195,418 $ 804,186 Interest & Dividends $ 1,200,000 $ (395,814) $ 228,752 Contributions $ 261,493 $ (32,741) Miscellaneous $ 1,149,419 $ 1,136,030 $ 13,389 Total $ 27,020,473 $ 28,138,527 $ (1,118,054) Source: Internal financial reports - final close dated 11/4/19 4

5. General Fund Expenses Actual 2019 $ 10,707,688 $ 9,283,004 Budget 2019 $ 11,304,616 $ 8,664,485 Variance $ 596,928 $ (618,519) Publishing Services Conference Services ALA Offices and Member Relations Public Policy and Advocacy (Washington Office) Executive Office IT Department Finance, Acct & Staff Support Overhead Recovered General Administration Total Expenses $ 3,404,935 $ 3,574,257 $ 169,322 $ 2,775,003 $ 2,748,841 $ (26,162) $ 4,288,164 $ 3,448,321 $ 4,133,974 $ 3,455,992 $ (154,190) $ 7,671 $ 1,800,336 $ 1,727,504 $ (72,832) $ (7,534,708) $ 2,926,846 $ 31,099,589 $ (7,732,342) $ 2,671,188 $ 30,548,515 $ (197,634) $ (255,658) $ (551,074) Source: Internal financial reports - final close dated 11/4/19 5

6. General Fund Net Revenue Sources 2019 - and other support - Overhead Support Total Support $ 804,186 $ 5,207,420 $ 2,980,027 Revenues $ 804,186 $ 0 $ 5,207,420 $ 0 $ 111,843 $ 2,868,184 Interest & Earnings Membership Dues - Net Publishing - Net Meetings & Conferences -Net $ 239,576 $ 2,503,052 $ 2,742,628 $ 565,040 Total $ 6,928,065 $ 7,534,708 $ 2,163,472* $ 2,728,512 Other $ 14,462,773 Source: Internal financial reports - final close dated 11/4/19 *Overhead contribution from Divisions, Roundtables and Grants 6

7. Publishing Dept. Revenues & Expenses 2019 Overhead Contribution Net Revenues $ 2,913,106 $ 2,658,734 $ 771,857 $ 4,552,325 $ 2,477,951 $ 1,207,490 American Libraries $ 910,926 $ 669,531 $ 241,395 Digital Resources $ 1,085,308 $ 800,173 $ 287,607 Graphics $ 622,183 $ 526,305 $ 164,878 E-Learning $ 735,683 $ 468,079 $ 194,957 Publishing - AED $ - $ 238,731 $ 0 $ (238,731) Total $ 10,819,531 $ 7,839,504 $ 2,868,184 Expenses Revenue $ (517,485) $ 866,884 $ 0 ALA Editions Booklist $ (2,472) $ (69,000) $ 72,647 $ 111,843 Source: Internal financial reports - final close dated 11/4/19 7

8. Meetings & Conferences Revenues and Expenses - 2019 Overhead Contribution Net Revenues Expenses Revenue Annual Conference $ 6,963,667 $ 4,314,324 $ 1,831,565 $ 817,778 Midwinter Meeting $ 2,558,912 $ 2,465,627 $ 671,487 $ (578,202) Total$ 9,522,579 $ 6,779,951 $ 2,503,052 $ 239,576 Source: Internal financial reports - final close dated 11/4/19 8

9. Division Revenues and Expenses 2019 $(716,552) 2019 $14,151,102 $13,434,550 $720,863 2018 $15,561,801 $16,282,664 $(410,346) 2017 $14,216,325 $13,805,979 $(2,000,000) $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 $16,000,000 $18,000,000 Net Operating Expenses Revenues Source: Internal financial reports - final close dated 11/4/19 9

10. Round Tables Revenues and Expenses 2019 $172,598 2019 $514,666 $687,264 $333,710 2018 $224,288 $557,998 $199,116 2017 $268,338 $467,454 $- $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 Net Operating Expenses Revenues Source: Internal financial reports - final close dated 11/4/19 10

11. Total ALA Assets, Liabilities & Net Assets 2019 2019 2018 2017 $ 78,454,838 $ 82,889,476 $ 72,522,283 Assets $ 38,646,607 $ 35,763,339 $ 32,622,005 Liabilities $ 39,808,231 $ 47,126,137 $ 39,900,278 Net Assets Source: Internal financial reports - final close dated 11/4/19 11

12. American Library Association Short-term Investments FY 2016 through November 30, 2019 $16,000,000 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0 FY 2016 FY 2017 FY 2018 FY 2019 November 30, 2019 12

13. Strategy to Address FY21 and Beyond Continue to leverage ALA s strong balance sheet to build on first year of strategic investments designed to enhance revenue generation and streamline operating expenses: Move forward in FY 21 with continued strategic investments Monitor impact of investments and revise or refine strategy as needed Use ALA s bank line of credit or other assets to support investments 13

14. Strategy to Address FY21 and Beyond Implement sale of ALA Headquarters Majority of proceeds reinvested in endowment to generate revenue for association priorities Small portion used to facilitate development of new headquarters facility that will promote collaboration and result in lowered operating costs and general liability Participate in Moving Forward initiatives with a financial lens Examine operations for streamlining and cost reductions Continue to identify and pilot New Business Development ideas 14

15. Thank you for your service on behalf of our members 15