21 June 2012

OGS financial statement for 2011

The most recent issue of Newsleaf, the magazine of the Ontario Genealogical Society prints the Society audited financial statement for 2010. Summary data is now available on the Canada Revenue Agency website.

Ever since OGS instituted a 33% fee increase in 2010 I've been interested to see how it would impact on membership. In 2010 income from membership dues increased 21% from 2009 to 2010. On the face of it that represent a 9% membership decrease.

In 2011 income from fees declined 8% from 2010 which, since fees didn't change, implies an 8% decline in membership numbers.  

Is a high single digit annual percentage decrease in membership sustainable?

As in recent years the answer remains yes as the society has a large endowment fund. The withdrawal was $35K in 2009, $82.3K in 2010, and $65K in 2011. The endowment fund is now down to $763K, 12 years to go at the current rate of withdrawal. The Society also has significant other assets on which it can draw.

Substantial administrative savings were realized in 2011 by taking advantage of the GoToMeeting facility made available to the Society through the generosity of the National Institute for Genealogical Studies. This meant, for example, that meetings involving regional directors could take place without the substantial cost of travel and accommodation. The facility also saw increased use by branches to allowing members to connect to local meetings from their homes over the internet. Should the Society be approaching the Institute for other suggestions on how to save on administrative costs?

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