By Alison Gibson, Finance Committee Chair
The San Francisco Chapter of the National Academy of Television Arts & Sciences (NATAS) operates as a non-profit 501(c)(6) organization dedicated to serving the television industry through a balanced and transparent financial approach. As a trade organization, we are committed to thorough financial oversight and accountability, ensuring that our budget is managed with the utmost care and transparency. Every month, our committee presents to the Board of Governors a detailed financial report that meticulously outlines each line item in our budget. These reports not only display actual expenses and revenues but also highlight any shortfalls, providing a clear picture of our financial health.
These documents detail the financial performance of individual programs, including their allocated budgets, actual expenditures, and variances. They also provide insights into various funds, assets, dividend income, and historical data, helping us understand how each component of our budget contributes to our overall financial standing.
For the 2023-2024 fiscal year that ends on August 31, our expenses as of 7/31/24 are exceeding our income by $35,448. This shortfall was primarily due to unexpected costs associated with the Awards Gala and Gold & Silver Circle luncheon, a decline in sponsorships, and storage expenses for our Archive and Museum artifacts. While we have sufficient assets in our account to cover this shortfall, the Board is actively exploring strategies to reduce costs and enhance revenue streams to ensure future financial stability.
It’s important to clarify that, contrary to some perceptions, our organization is not accumulating excessive funds. Membership dues, entry fees, and gala tickets are set based on historical data and a zero-sum financial model. Looking ahead to the 2025 gala, set to take place in Sacramento for the first time, will be a crucial test of our operating budget. We are committed to ensuring that this event breaks even and remains financially viable.
In addition, San Francisco/Northern California NATAS holds separate accounts for our scholarship monies held under a 501c3 (the TV Academy Fund). Donations to this fund are tax deductible to the extent of IRS rules.
What follows is a summary of our financial standing as of 8/7/24. We welcome any questions and encourage members to reach out as transparency remains a cornerstone of our operations. Our door is always open for inquiries and feedback.
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