I’ve shifted from lightweight outfits to the heavier sweaters of the season. Autumn is, after all, a time of transition—which is something our Association is currently experiencing. Transition can be unsettling, yes, but it is also an opportunity to step back, take stock, and lay the foundation for what will follow. As we work with … Continue reading A Time of Transition
As the new calendar year begins, I am carrying that optimism forward. We are approximately one-third of the way through the American Library Association’s (ALA) fiscal year, which runs from September 1, 2022, to August 31. The most uncertain days of the pandemic seem to be behind us. Like many of our libraries and, indeed, many … Continue reading ALA Finances on Track
Hepburn received 8,947 votes in the uncontested election. Hepburn will step into his role as treasurer at the close of the 2022 ALA Annual Conference and Exhibition in Washington, D.C. Upon learning the outcome of the election, Hepburn said, “What an incredible honor to be able to serve our association in this capacity and to … Continue reading Hepburn Elected ALA Treasurer
A licensed certified public accountant, Tsourdinis holds bachelor’s and master’s degrees in accounting from University of Illinois Chicago (UIC) and is a member of the Illinois CPA Society and the American Institute of Certified Public Accountants. Tsourdinis has worked in finance at several nonprofit and educational institutions in Chicago, including UIC, SOS Children’s Villages Illinois, … Continue reading 11 Questions: Dina Tsourdinis
However, as we start 2022—and as my term as ALA treasurer winds down—I have much good news to share regarding ALA’s financial situation. First, the ALA Executive Board, Budget Analysis and Review Committee (BARC), and Finance and Audit (F&A) Subcommittee worked closely with ALA leadership to balance expenditures on the revenue base and adjust them … Continue reading Building ALA’s Future
In 2020, the Executive Board, Budget Analysis and Review Committee, Finance and Audit Subcommittee, and member leaders extensively reviewed and discussed the Association’s fiscal management practices and the changes that have exacerbated past revenue gaps and declines. We are fortunate to have our new executive director, Tracie D. Hall, steer operational and staffing decisions as … Continue reading ALA’s Financial Future
For many years, the Executive Board and ALA staff have understood that the Association’s three main revenue streams—membership, conferences, and publishing—were declining while operations were experiencing inflationary pressures. We take our role as financial stewards of the organization very seriously, and, with an eye toward growing our revenues and strength as an association, in 2017 … Continue reading ALA Responds to Financial Shortfall
I start my tenure by reporting mixed results for our finances, but I am optimistic about the work being done to advance libraries. In 2018, the ALA Executive Board approved a plan to strategically invest in three critical areas: information technology, advocacy, and development. Over a three-year period already underway, $8.8 million has been dedicated … Continue reading Achieving Our Vision
As in our personal lives, a new year is a time for reflection. We look back at the surprises, successes, and disappointments. We look at how we performed inside the Association—and, even more important, at our impact on libraries, on the people who make both the Association and libraries work, and on all the communities … Continue reading Future Destinations
The first is the endowment’s investment in private equity. While it is illiquid, private equity generally outperforms most other investment categories. We did not venture into this area lightly. The trustees conducted an extraordinary level of discussion, review, and due diligence before we made our first investment. In July 2015, we invested $2 million in … Continue reading ALA Endowment Update
The first is the endowment’s investment in private equity. While it is illiquid, private equity generally outperforms most other investment categories. We did not venture into this area lightly. The trustees conducted an extraordinary level of discussion, review, and due diligence before we made our first investment. In July 2015, we invested $2 million in … Continue reading Strengthening the ALA Endowment
While these successes are worth celebrating, there are still many challenges ahead as we focus on achieving our mission in a forward-looking, financially sustainable manner. The General Fund posted an operating deficit, albeit a much smaller one than in the past two years. Midwinter Meeting results missed expectations as our very talented and committed Conference … Continue reading A Year of Progress
