by Laura Knauss, AIA
AIACV Treasurer
The AIA Central Valley has been impacted by the COVID-19 pandemic just as individuals, businesses and local non-profits in our communities have. The good news is, we have been planning for changes in the economy, building an operating reserve and conducting “scenario planning” that will help guide us through these difficult financial times. AIA California and National AIA have been providing planning support to our local components as well, helping us all weather the storm. Given the state of our region amid the pandemic, it is certainly an appropriate time to provide our membership with a report on chapter finances.
- Due to the restrictions of Shelter-in-Place, event expenses are down significantly, but so are event revenues. The Chapter has been working hard to provide no- or low-cost programming virtually, and we are learning from this experience to expand future programming to more distant parts of our Chapter. Participation has been very good; this is an opportunity for greater member engagement moving forward.
- While our Associate membership is up, dues income is down overall. Dues, along with the support of our Sustaining Partners are the Chapter’s primary source of revenue. The Board has been reaching out personally to members to encourage continued membership and support. Please contact the Chapter office if non-renewal of your membership is a financial decision – we’d like to work with you to keep you engaged in the AIA.
- Our investment account, which has been providing substantial interest revenue to the Chapter, has also taken a significant hit. Just like most of our personal 401K accounts…sometimes it’s better not to look!
- We are still looking forward to our annual Experience Architecture event. This event has always been a boost financially to our Chapter, but it also serves as a key element of our mission to raise the profile of architecture in our region. The programs will look different this year, evolving to meet our current situation, but we are committed to its success, and hopeful for continued sponsorship from regional industry partners who have supported us since our inaugural event 9 years ago.
As we look forward, our Board of Directors is engaged in developing scenarios that will ensure the Chapter’s financial resilience in good times and in bad. As many of you know, we have an ambitious 2020-2025 Strategic Plan focused on growing our membership, programming and regional influence and are committed on having the appropriate resources to make that happen. We look forward to your help as we find our “new normal.”
Stay healthy and safe!