CIPR 2014 Financial Report details a fifth successive year of profitability
The Chartered Institute of Public Relations (CIPR) has published its Financial Report for 2014, detailing a fifth successive year of profitability with a retained surplus for the year of £17,652. This surplus takes the Institute’s total reserves to £886,051.
The Finance Report accompanies official notice of the CIPR AGM, taking place on Monday 13 July at 6.30pm in Bristol on the SS Great Britain Bristol. It also precedes the publication of the Institute’s first Integrated Report, to be published on Friday 26 June.
In 2014 CIPR set out to establish a clear focus on its core business of membership, professional development and awards, enabled by a restructure of the operational side of the Institute.
Membership numbers rose in 2014, from 10,401 at the start of the year to 11,125 at the end. A more accurate basis for determining deferred subscriptions was adopted, with the one-off effect of reducing membership subscription income by £90,000 in the year. This more reliable basis for calculated deferred subscriptions will be used in future years.
Income from training and qualifications rose in 2014. The decision to reduce conference and seminar activity had a marginal downward effect on income in this area, although CIPR Awards performed well.
During the year, CIPR established a dilapidations fund, for the purpose of ensuring that the Institute has sufficient funds in place to manage the move out of its current premises and into a new building at the end of 2018.
In 2014, we successfully refocused the CIPR on our core areas, which over time will build a stronger business. In the course of the year we made considerable changes to our financial management and oversight structures and I would like to thank the volunteers and staff who made the transitions possible.
I wish also to pay tribute to Ross Phillips, the CIPR’s former Finance Manager, who very sadly died last year and is greatly missed by his colleagues.
Notes to editors
About the Chartered Institute of Public Relations (CIPR)Founded in 1948, the Chartered Institute of Public Relations (CIPR) is the Royal Chartered professional body for public relations practitioners in the UK and overseas. The CIPR is the largest membership organisation for PR practitioners outside of North America. By size of turnover and number of individually registered members, we are the leading representative body for the PR profession and industry in Europe.
The CIPR advances professionalism in public relations by making its members accountable to their employers and the public through a code of conduct and searchable public register, setting standards through training, qualifications, awards and the production of best practice and skills guidance, facilitating Continuing Professional Development (CPD), and awarding Chartered Public Relations Practitioner status (Chart.PR).