FY2026 Financial Update (January–July)
Overview
NABIP reported an operating profit of $39,171 in July, exceeding the budgeted net profit of $26,303 by $12,868. Although net revenue remained below budget, lower-than-budgeted personnel and travel expenses contributed to the positive result. Annual Convention activity generated a net positive impact of $9,011, including $29,100 in sponsorship revenue and $20,089 in related expenses. Excluding Annual Convention activity, NABIP recorded a profit of $30,160 for the month.
Financial Snapshot
- Net Revenue: $495,009 (below budget)
- Expenses: $448,180 (below budget)
- Operating Profit: $39,171
- Performance Against Budget: $12,868 above budget
- Annual Convention Net Impact: $9,011
Key Drivers & Actions
- Membership revenue was $84,638 below budget; this unexpected variance is being researched.
- Program service revenue, including professional development, sponsorship and advertising, was $37,016 above budget.
- Investment income was $1,813 below budget due to market performance.
- Personnel costs were $81,656 below budget, with labor expenses decreasing by $1,902 from June.
- Travel expenses were $9,347 below budget and decreased by $11,215 month over month.
- A $60,000 transfer was made to NABIP’s investment account on July 23.
- A detailed Annual Convention financial reconciliation will be provided once the final invoice from Harrah’s/Caesars Entertainment is received.
- Combined banking fees for July totaled $21.61.
Financial Performance Review