With last year’s financial books officially closed, several metrics indicate a positive environment for APHA in 2014. The result of dedication to outstanding member care along with careful consideration of revenue and expenses by staff and the Executive Committee, these positive numbers set the stage for an even better outlook in 2015.
APHA was especially excited to retain more than 50,000 members in 2014, closing the year at 50,211. Exceeding this benchmark was a particularly important goal for the association’s leadership in 2014. In fact, our renewal percentage was reduced from a 7.68 percent decrease in 2013 to a 1.14 percent increase in 2014.
For the first time in five years, APHA generated a net profit in 2014. While the association has met or beat its budget in the last several years, it has operated at a budgeted net loss; in those years, the deficit in operating revenue was met by revenue generated by the association’s investment funds. In 2014, however, actual income exceeded actual expenses, resulting in a net profit for the association.
Even more exciting, perhaps, is that APHA enters 2015 with a truly balanced budget. That means the association’s operating expenses are entirely in line with its anticipated revenue this year, which will alleviate reliance on investment-generated funds.
“It took a dedicated staff, a courageous Executive Committee and a unified board of directors for us to reach this milestone,” Executive Director Billy Smith said. “It sets us up for a bright future.”
Billy will review APHA’s status in the horse industry and its strategic goals moving forward in his speech at the 2015 APHA Convention on February 27. A detailed financial report will be presented to the APHA Board of Director and other attendees on March 1. Everyone is welcome to attend the APHA Convention—full details and registration forms are available online at apha.com/events/convention.
