CSI Annual Report 2020-2021

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Author Message David G. Axt, CCS, CSI ,SCIP Senior Member Username: david_axt Post Number: 1941 Registered: 03-2002 Posted on Friday, July 22, 2022 - 10:17 am:    One of the pages in the annual report is "Consolidated Financials'. This single page appears to be a combination 'Profit and Loss Statement' and 'Balance Sheet'. If I am interpreting the numbers correctly, CSI National lost 3 million dollars in that time frame. I sure hope CSI's financials are better in the past fiscal year of 2021-2022. The good news is CSI has 13 million dollars in assets. This annual report is available on the CSI website on the main page. David G. Axt, CCS, CSI, SCIP Specifications Consultant Axt Consulting LLC Sheldon Wolfe Senior Member Username: sheldon_wolfe Post Number: 1057 Registered: 01-2003 Posted on Monday, October 24, 2022 - 11:39 am:    I'd like to see how much has been invested in Crosswalk, who's using it, and how much income CSI has received from it. ken hercenberg Senior Member Username: khercenberg Post Number: 1531 Registered: 12-2006 Posted on Monday, October 24, 2022 - 06:02 pm:    I'd be curious about cost of Crosswalk as well. To be fair, the Crosswalk for Word was just released so I suppose it would be reasonable to give it a year or so and see who, if anyone, signs up to pay for it. I think I'm happy to see that dues are no longer the primary means of revenue unless it means that our membership is dropping to the point where we're not making as much as a result. Remember when the annual convention was the primary money-maker for the Institute? John Bunzick Senior Member Username: bunzick Post Number: 1902 Registered: 03-2002 Posted on Tuesday, October 25, 2022 - 02:36 pm:    It does look like expenses exceeded revenue by $3M. Given that revenue is $4M, that is a startling figure. Membership dues revenue is $1.5M, so it's still the primary source of income at 37%. And while there are $13M in net assets, only $2.7M is in cash. The $12.6M in "investments" is not explained, so it could be quite illiquid. There are no accompanying notes to delve deeper. CSI's IRS Form 990s show that the year before was a money loser as well. It appears that about $600K was earned from the convention. Lot's of money gets spent on marketing. However, there is also an increase in total assets (before liabilities) between FY20 and FY21 form $7M to $16.8M. I'm not sure what this is, but perhaps from sale of real estate? Form 990 also indicates that most of the investments are in publicly traded securities.