1.
Update by the Executive Director
Tim Merriman, Executive Director
Budget
and Cash Flow
This has been a very challenging year for cash flow and remains so with early
registration for NIW 2005 being the lowest of the last decade. We have not
paid off our line of credit for the year yet and may not get that done before
the workshop as we usually do. Many income categories like certification, association
store, Legacy Trust Fund and grants are doing very well, but membership, ads
and publications income lag behind. Ads traditionally come in the last two
months but we are doing membership promotion to build that area.
Building
Construction at Mason Street North adjacent to our building is in full swing.
We now have three-story buildings next to our building across the tracks.
It is likely our parking area will be done by April or May of 2006.
Consults
and Grants
We are about to complete the Concept Plan for Rocky Mountain Raptor Program
which will result in billing of $25,000 for that work. This income area is
lagging in the budget but we will surpass the objective very quickly in October
or November. We expect the second $62,000 payment on the Definitions Project
in early December. Planning for the project is going well and the first meeting
is January 5th and 6th in Fort Collins.
Legacy
Trust Fund
The Legacy Trust Fund now has $84.078 in gifts since first of the year with
many other gifts pending. Boettcher Foundation's $25,000 grant for the building
was paid against NAI's mortgage, lowering that liability. We have invested
the $25,000 from the Taylor Charitable Gift Annuity in VGENX funds and have
will begin the payment schedule for this in October. We have a $100,000 capital
pledge in progress and will report on the donor source in November at NIW 2005.
This brings the total for the total building campaign to $674,319. Julie continues
to work with major donor prospects while also writing grant proposals. For
more information on Legacy Trust Fund click here.
Networking
Lisa and I recently spent seven days in Minneapolis conducting a CIT course
and went to Korea on vacation time immediatly following that for an 11-day
travel/symposium trip around the country with 12 NAI members. The Korean
government sponsored the trip, paying all expenses, and each of us made
presentations at one or more of five symposia held with two universities,
the Kintex International Trade Center and two local communities. The goodwill
with NAI among Korean members and interested parties was considerable.
The value for the 12 participants was great, and eleven of these are certified
individuals in the association.
Staff
Changes
Student workers continue to be an important part of our operations during the
school year. Sam Smith continues from the summer in providing maintenance work
for the building and shipping of packages for the store. Kelsey, Kyle, Leeba,
Trisha, Jessica, and Kasey make important contributions to our ability to deliver
services and are much appreciated. You can see their pictures and full names
at http://www.interpnet.com/interpnet/contactus.htmhttp://www.interpnet.com/interpnet/contactus.htm.
Strategic Plan
Please look at the Strategic Planning page in this report and
see if you have any updates to make based upon your efforts related
to those tasks. Please let Jim Covel know of any updates at JCovel@mbayaq.org.
Travel Plans
My upcoming travel may be viewed at www.interpnet.com/board/schedule.htm.