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NCSPP completed our fiscal year with a net profit of just over $29,000. This profit is in large part due to the great success of this year's ISGs, which experienced full enrollment.
In past years when the ISGs did poorly, the organization's financial health suffered. As a result the Board has worked hard to restructure our budget so that we are not so dependent on the ISGs to carry the financial burden of the organization. This shift is reflected in the success this year of both our Annual Lecture and the Couples’ Therapy Event, both of which experienced record attendance. This year's profit is also a result of our Board and committee members' dedicated efforts to cut expenses during this economically stressful time.
We have continued to invest in our website and electronic communications, finding that not only is NCSPP cutting costs and becoming greener, but our community has more convenient ways to renew memberships, register and pay for courses, make donations, and access membership directories online.
Included in the net profit figures is another year of substantial advertising income from our online newsletter, IMPULSE, which supports and serves the larger Northern California analytic community.
This year the Board elected to put NCSPP's journal, fort da, onto the Psychoanalytic Electronic Publishing system (PEP), which allows more accessibility and gives fort da greater prominence in the analytic community worldwide. This accrued to a cost of approximately $9,000, which was not accounted for in the annual estimate. Alan Kubler and his committee raised the majority of this cost by hosting a successful fundraising performance of NCSPP member Gene Alexander's play, The Weed Blossom.
NCSPP has been able to maintain a healthy financial reserve, totaling approximately $114,400. A few years ago we moved most of our reserves into conservative mutual funds and money market accounts. This enabled the organization to weather the current economic downturn with minimal losses.
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