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NCSPP decided to suspend programming for the 2021 fiscal year to focus on restructuring the organization. The organization needed to go beyond making statements about anti-oppression and change at the institutional level to achieve true diversity, inclusion, and equity.
These decisions had a significant impact on our revenue and expenses. Eliminating some of the programming costs while maintaining the income from the study groups and membership dues resulted in a surplus of funds. Additionally, the website redesign was under budget by more than $8,000. NSCPP redirected $11,000 towards hiring the consulting group Early/Mid to assess the state of the organization's approach to diversity, inclusion, and equity. Even after the expenditure, NCSPP still finished the 2020-2021 fiscal year with a net profit of $20,000, liquid assets of $76,000, and $102,000 in investments (all rounded to the nearest thousand).
NCSPP's decision to halt programming also had the unintended consequence of dramatically reducing the compensation for Michele McGuinness, our Administrator/Registrar. Given the surplus in funds, the Board of Directors unanimously decided to provide Ms. McGuinness with a stipend of $10,000 to cover some of her lost income. We forecast that the lost revenue from significantly reduced programming fees and funding the administrative compensation will contribute to a predicted net loss of $24,000 in the 2021-2022 fiscal year.
An organization's priorities and values are often highlighted through the allocation of financial resources. Pausing programming will cause the organization a significant future financial loss. However, to honor our commitment to promoting psychoanalytic theory to a diverse community of