The AIPP does not appear to have any immediate financial vulnerability following Canon’s withdrawal of sponsorship funding for the Australian Professional Photographer Awards, with documents lodged with ASIC showing net assets (assets minus liabilities) and cash in the bank both at over $600,000.
The AIPP is yet to lodge its 2014-15 annual report with ASIC, with the most recent figures available from the 2013/14 financial year. Given two successful sponsored events in 2014/15 in The Nikon Event and the 2015 (and final Canon) APPAs, and healthy member subscriptions, bolstered by the ‘merger’ with the ACMP and the PSPA (school photographers), it’s probable the AIPP is more financially healthy now than in 2013/14.
The financial report gives an outline of where funds are coming from, and what they are spent on. So for instance, the three big revenue sources are Subscriptions, $817K; Seminars, Functions and Awards, $742K; and Sponsorship, $419K.
The three largest expenses are Seminars Functions Awards (once again), $737K; Employee Benefits, $613K (six employees); and Admin (other office costs) $525K.
Membership levels rose around 10 percent in 2013/14, from 3176 up to 3477.
At June 30, 2014 the AIPP had cash holdings of $678K (up from $621K the previous year).