MICPA President & CEO s Report

Transcription

1 MICPA President & CEO s Report April 1, 2014 through March 31, 2015

2 TABLE OF CONTENTS 3 Message from the President & CEO 4 Mission 4 Brand 6 Finances 6 Members 8 Educational Offerings 9 Technology 10 Future 11 Voice 12 Heart 13 Plan 2

3 MESSAGE FROM THE PRESIDENT & CEO Those who initiate change will have a better opportunity to manage the change that is inevitable. William Pollard The 2014/2015 fiscal year was marked with many successes. With the leadership of our board of directors, the participation of our members and the talent of our staff, we had another great year! Our financials remain strong, and we are poised for even more growth and the inevitable change that comes along with it. I d like to share a few highlights with you. First, an amazing 94.1 percent of MICPA members chose to renew their memberships, which ranks MICPA as one of the top CPA associations in terms of retention. This speaks volumes about the value our members find in being a part of this great association. We continue to find ways to increase member value and grow membership, especially among our future CPA members. This is so important as we work together to ensure a bright future for the CPA profession. We enhanced the MICPA Tracker to enable all Michigan CPAs to report CPE electronically in a format accepted by the Michigan State Board of Accountancy. This opportunity was made possible through our strong partnerships with the state. MICPA is the first and only state association to offer this benefit saw the launch and implementation of a new look and feel for our brand. The major rebranding effort from MACPA to MICPA has been woven through every area of the association, including our website, marketing materials, event signage and much more. This was done with the future in mind and because we know our members are proud to be Michigan CPAs. Please read on to see more details about the great year we had together. Thank you for all you do in support of the MICPA. Very Truly Yours, Peggy A. Dzierzawski, CAE MICPA President and CEO 3

4 MISSION To enhance the success of CPAs and their value to society. BRAND We rolled out our new acronym and an updated look and feel for our brand. It has been fully implemented across all communications channels, including the micpa.org website, marketing materials and event signage. Members were informed about the change via a multi-channel campaign that included video, print, and website communications. Members also heard about the exciting change during announcements at events and by receiving newly branded promotional items. 4

5 FINANCES The Michigan Association of CPAs Fiscal Year-End Comparisons From a financial perspective, the MICPA recorded an operating gain of $52,435 versus a budgeted operating gain of $250. The total net change for the year including investment results was an overall gain of $1,736. CPE revenue in reporting years has trended higher than in non-reporting years, which is reflected in the numbers below. Revenue from affinity programs decreased as many of those companies become sponsors. Cost containment efforts contributed to positive year-end financial results. Overall, the MICPA s financial health and membership base remained strong and allowed the association to continue to work strategically in areas of high impact on the future of the profession, including student recruitment, member value, advocacy and rebranding to mention a few REVENUE Dues $2,919,587 $2,896,339 Seminar/ CTS 1,648,753 2,128,123 Webinar / On-Demand 214, ,022 Conference Registrations 1,195,607 1,269,590 Sponsorships / Exhibitor 453, ,353 Peer Review 397, ,938 Member Service Programs 133, ,114 Interest Income 113,908 84,679 Other 82,982 76,575 TOTAL REVENUE 7,159,935 7,634,733 EXPENSES Seminars / CTS 1,422,082 1,816,680 Webinar / On-Demand 108,249 70,901 Conferences 1,479,780 1,253,114 Peer Review 334, ,998 Member Service Programs 1,189,603 1,307,376 Community Outreach 123,452 88,688 Supporting Activities 2,449,951 2,500,620 TOTAL OPERATING EXPENSES 7,107,500 7,401,377 EXCESS REVENUE / (EXPENSES) BEFORE 52, ,356 INVESTMENT RESULTS INVESTMENT RESULTS (50,699) (102,999) INCREASE IN UNRESTRICTED NET ASSETS $1,736 $130, was a CPE reporting year. Certain lines have been reclassified to be consistent with the presentation for

6 MEMBERS As the eighth largest CPA state society in the country, the MICPA continued its commitment to young and experienced members alike, including members in industry, public accounting, education and government. MICPA membership totaled 18,045 at the end of March 2015, compared to 17,608 in March 2014, a growth of 437 members. Membership Demographics as of March 31,

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8 EDUCATIONAL OFFERINGS We continued to enhance MICPA Continuing Professional Education (CPE) offerings to ensure we address CPAs changing needs. We worked aggressively to provide innovative, value-priced programs coupled with leading-edge topics and outstanding speakers through both in-person and web-based formats. We also incorporated an interactive polling technology, called Conference i/o, to further engage participants and to stimulate dialogue. We held 38 conferences, eight workshops and 196 seminars, including 78 new seminars, in We also offered thousands of webinars and On-Demand programs and saw increased revenue with attendance that was 26 percent over projected numbers. This is certainly a reflection of the increasing demand for web-based programming. In total, MICPA On-Demand, webinars, seminars, conferences and early-bird programs attracted 16,546 participants in The involvement and commitment of MICPA s programming task force members contributes to the success of our educational offerings and distinguishes it as the highest-quality CPE available. 8

9 TECHNOLOGY CPE Tracker We enhanced the Tracker to enable all Michigan CPAs to report CPE electronically in a format accepted by the Michigan State Board of Accountancy at license renewal time. The association secured a grant from the Michigan Department of Licensing and Regulatory Affairs that partially funded this enhancement. MICPA is the first and only state association to offer this benefit. We executed a comprehensive communications campaign to educate members about the new capability, including the development of short video tutorials and FAQs available at mipca.org/trackerupdate. New Website The association launched a new, completely redesigned website. The new micpa.org website was built with responsive design, ensuring it works well in mobile environments. Mobile App The MICPA mobile app was launched and made available on Android and Apple devices. This member-exclusive tool enables users to view and manage their CPE Tracker, see information about upcoming MICPA events and meetings, manage payments and dues and get the latest news. A great member value! 9

10 FUTURE Student Engagement A focal point in student recruitment efforts, our High School Leaders Conferences (HSLC) attracted 450 students in Minority attendance was high: 40 percent at Oakland University, 97 percent at Wayne State University and 30 percent at Western Michigan University. In total, more than 4,500 students have attended HSLC since the program began in We grew our student membership to 3,412, with members joining from accounting colleges throughout the state. Educators brought students to numerous professional meetings and events, such as MICPA board meetings and the Members Advisory Symposium. The annual Spring Educators Conference provided teaching techniques, tips and strategies to bring accounting practices to life for students. Michigan Accountancy Foundation (MAF) Scholarships The MAF plays a key role in supporting student recruitment efforts with its Fifth/Graduate Year Scholarship Program, helping students fund the additional education required under the 150- hour rule. Twenty-one scholarships totaling $63,000 were awarded to promising recipients. More than $1 million in scholarships has been awarded since Diversity and Inclusion & Women s Initiatives The MICPA continues its work at the national and state level to promote diversity and inclusion and to strengthen women s initiatives. Key areas of involvement include: Student recruitment efforts through High School Leaders Conferences Sponsorship of women s leadership programs Recognition of emerging and experienced female leaders through Women to Watch awards Continued alliances with other organizations, such as National Association of Black Accountants (NABA), the Association of Latino Professionals in Finance and Accounting (ALPFA), Michigan Women s Tax Association (MWTA) and Michigan Women in Finance (MWIF) Continued involvement with the AICPA National Commission on Diversity and Inclusion 10

11 VOICE The MICPA has continued to reinforce its government relations and advocacy efforts through a strong presence in Lansing. We also continue to work with legislators, including the four CPAs elected or re-elected to the Michigan Legislature. The MICPA s strong grassroots member involvement has been especially valuable in building solid, positive relationships with lawmakers. A major legislative highlight was the resolution of Michigan Business Tax corrections; a culmination of four years of work by the MICPA and its members. For more details about our legislative successes, please visit micpa.org/advocate. Our strong relationship with the country s only CPA Governor, Rick Snyder, led to several successful partnerships, including: Reinventing Mi Retirement Michiganders who are either retired or approaching retirement received free financial advice, resources and tools at Reinventing Mi Retirement events across Michigan in October MICPA members volunteered at the events as speakers for some of the informative workshops and to conduct free 15-minute financial checkups for attendees. The events were designed as an extension of Governor Rick Snyder s Special Message on Aging: Living Well, Aging Well. The governor was onsite at the main event location in Troy to welcome attendees and give opening remarks. Other locations across the state included Alpena, Detroit, Escanaba, Grand Rapids, Kalamazoo, St. Joseph and West Branch. Detroit Income Stabilization Program In November 2014, Governor Rick Snyder's office reached out to the MICPA about the need to help some Detroit City pensioners apply for and receive money set aside as part of the Detroit bankruptcy to ensure no pensioners fell below the poverty line as a result of the bankruptcy. The MICPA worked quickly and partnered with the Accounting Aid society to provide assistance. The association recruited 47 volunteers to staff 175 shifts in December at a call center set up at the Accounting Aid Society in Detroit. Call volumes grew to between 150 and 160 calls per day. Volunteers assisted callers in how to properly complete an application they received in the mail. The MICPA also developed a how-to video to assist pensioners, which was posted on the Retirement System website and received more than 300 views during December. Members appreciated the MICPA s involvement in this important effort. The association received positive media coverage and a special thank you from Governor Snyder. 11

12 HEART Michigan CPAs have always been generous with their time. The MICPA is proud to provide additional avenues for members to give back and make a difference, including these examples from the past fiscal year: The MICPA once again supported and participated in the Susan G. Komen Race for the Cure with a stage sponsorship and a team of members and staff The MICPA was also a sponsor for the Hospice of Michigan Race and Remember, at which MICPA members and volunteers participated In partnership with Accounting Aid Society, MICPA volunteers prepared tax returns for low-income individuals and families and assist City of Detroit pensioners affected by the city s bankruptcy In conjunction with the Women s Leadership Breakfast, members helped promote the economic independence of disadvantaged women with donations to Dress for Success Michigan Gleaner s Food Bank and the Red Cross both participated in our annual Management Information & Business Show to encourage donations 12

13 PLAN The MICPA completed year three of its strategic plan, which included the seven overall objectives below. Please visit micpa.org/strategicplan for details about accomplishments in each area. 1. Advocacy To be the voice of the profession in advocacy, broadening the definition of advocacy to specifically include the profession s profile and contribution in the State of Michigan. 2. BIG (Business, Industry and Government) Help this group of members feel the relevancy of their membership. 3. Communications Provide communications with MICPA members, potential members, partners, and the community in Michigan that accurately and appropriately conveys accurate messages with the association s image and brand. 4. CPE and Delivery Deliver CPE in formats and timeframes that enhance member education. 5. Demographics Making member and potential member research an ongoing initiative for MICPA. You can never stop learning about your members and potential members. 6. Membership Provide and convey relevant membership value to all MICPA member groups, while continually exploring new members to support the succession in the profession in Michigan. 7. Networking/Partnering To be the One Voice for the profession in alliances, partnerships and networking. (The One Voice for the community is the flag, or the banner behind which the profession can stand with regard to community relations and initiatives.) 13

14 PLAN An enhanced three-year strategic plan was developed for Its focus areas and objectives include: 1. Membership: Explore and analyze potential members to effectively convey the value of membership. Understand MICPA members and create relevant value propositions. Strengthen and enhance the future of the CPA profession. Keep Peer Review relevant and a part of the MICPA. Share the benefit of the CPE Tracker with all Michigan CPAs. Investigate new membership categories for CPAs and non-cpas. 2. Advocacy: Cultivate relationships between key officials and the MICPA. Leverage the expertise of the CPA profession in Michigan s comeback. Enhance members awareness of advocacy and regulatory efforts. 3. Learning: Future of Learning: Engage and interact with attendees to enhance learning. Enhance the value of MICPA learning/cpe to our attendees. Expand the use of the MICPA Tracker to provide a competitive advantage for the association. Engage CPE competitors to look for potential opportunities. 4. Sponsorships / Business Development: All sponsors and MICPA recognize mutual value. Maximize the public relations value of sponsorship and partnerships. Business development recognizes opportunities and drives partners and sponsors. Strategic partner relationships generate different revenue value and business benefits. 14