FY2026 Financial Update (January–June)
Overview
NABIP reported an operating profit of $52,672 in June, exceeding the budgeted net profit of $26,303 by $26,369. Although net revenue was below budget, lower-than-budgeted expenses, stronger program service revenue and investment income contributed to the positive result. Annual Convention activity had a nearly neutral net financial impact for the month, with $51,650 in sponsorship revenue and $51,726 in related expenses. Excluding Annual Convention activity, NABIP recorded a profit of $26,293, reflecting continued expense management and financial oversight.
Financial Snapshot
- Net Revenue: $497,633 (below budget)
- Expenses: $437,502 (below budget)
- Operating Profit: $52,672
- Performance Against Budget: $26,369 above budget
Key Drivers & Actions
- Membership revenue was $59,078 below budget.
- Program service revenue, including professional development, sponsorship and advertising, was $8,395 above budget.
- Investment income was $3,872 above budget.
- Personnel costs were $79,754 below budget, despite increased labor and employee benefit expenses.
- Annual Convention travel, vendor, entertainment and transportation expenses affected monthly results.
- A $30,000 transfer was made to NABIP’s investment account.
- A detailed Annual Convention financial reconciliation will be presented at the August Finance Committee meeting.
- Continued financial oversight and expense management remain priorities.
Financial Performance Review