TREASURER'S REPORT

New Jersey Nurse, May/Jun 2004 by Knight, Peg

While revenue increased slightly from the prior year, NJSNA and the Institute for Nursing ended the year of May 31, 2003 with a net deficit of $10,008. Overall revenue surpassed budgeted expectations by $32,758 or 2.8%, however combined expenses also exceeded budgeted figures by $42,766, or 3.5%.

The various Institute events once again netted very respectable gains despite an annual giving decline from 2002. These included the 2002 Diva and Don Dinner, 2003 EPIC Awards and various fiscal year 2003 educational programs. In addition, the 2003 NJ Nursing Convention as well as a combined investment income increase of $9,526 from the prior year, aided in minimizing the combined deficit.

NJSNA was responsible for two thirds of the total cost overrun or $28,668. Membership dues, which decreased for a fifth straight year and other NJSNA revenue sources, were unable to keep pace with increased costs in various departments including payroll and membership. The Institute exceeded budgeted expenses by $14,098, or the remaining one third. The Board realized that the RAMP and the Impaired Nurse Programs would impact the budget; however, it was unanimous that these valuable efforts move forward as they reflect the mission of our organization. We need your help. We, as an organization, face the increasingly difficult task of recruiting and maintaining membership while the Institute for Nursing strives to continue its vitally important fundraising efforts, despite the competition it faces from other charitable organizations. NJSNA's attempts at various marketing strategies to increase membership have to date yielded only moderate success and with the advent of NJSNA-only and ANA-only memberships, much uncertainty lies ahead. Add to this the burden of ever increasing costs, and it becomes clear that membership and fundraising are more important now than ever. We once again thank you for your past support and ask that you continue your efforts by "investing" in our organization. Together we can make the difference.

Respectfully submitted,

Peg Knight, RN