Finances

Statement of Operations & Changes in Members' Equity


(In thousands of dollars)
Year ended December 31, 2019, with comparative information for 2018


Year 2019 2018
 
Revenue:    
Annual membership fees  $ 35,265 35,209
Other fees  1,429  1,932
Advertising  787  800
Special projects  12  110
Interest and other  568  453
 

 38,061  38,504
Expenditures:    
Employee salaries  18,041  17,331
Employee benefits (note 10)  4,698  4,563
Council and committees  705  933
Services to members and applicants  3,162  3,307
Professional practice  583  521
Investigations and hearings  6,066   4,132
Operating support  5,073  4,752
Mortgage interest  831  874
Amortization  2,186  2,217
Council elections  -  220
 
   41,345  38,850
 
     
Deficiency of revenue over expenditures  (3,284)   (346)
Members' equity, beginning of year  21,085  21,431
 
Members' equity, end of year  $ 17,801 21,085
 
Members' equity, comprised of:    
Unrestricted $ 13,791  $ 13,342
Internally restricted (note 9)  4,010  7,743
 

See accompanying notes to financial statements.