Deborah A. Jones-Buggs, CPA National Treasurer FINANCIAL SUMMARY Deborah A. Jones-Buggs, CPA National Treasurer

Financial Summary Overview 2017-2019 Strategic Goal: Develop a fiscal strategy to improve fiscal management, and opportunities for growth while providing comprehensive reporting to Grand Chapter and assistance to chapters. Maintain financial stability Manage and control expenses Monitor and Reallocate Investments Timely Complete External Audits Report the Sorority’s Financial Status

Statement of Financial Position Financial Summary Statement of Financial Position “Maintain Financial Stability” Statement of Financial Position ($ Millions) 3rd Quarter 3/31/2018 Total Assets $34.8 Total Liabilities $14.2 Net Assets $20.5 o

Financial Summary Statement of Financial Position Assets 3rd Quarter 3/31/2018 Cash/Cash Equivalents/Investments $27,295,813 Accounts Receivable 473,066 Inventory 307,115 Prepaid Expenses 691,314 Fixed Assets 5,999,110 Total Assets $34,766.418

Financial Summary Statement of Financial Position “Maintain Financial Stability” ($ Millions) FY 2016-2017 1st Quarter 9/30/2017 2nd Quarter 12/31/2017 3rd Quarter 3/31/2018 Total Assets $36.4 $27.4 $25.5 $34.8 -$9M -$2M +$9M

Financial Summary Statement of Financial Position Liabilities 3rd Quarter 3/31/2018 Accounts Payable $ 2,862,682 Accrued Liabilities 234,176 Deferred Revenue 6,806,071 Note Payable (Mortgage on 1711) 1,835,476 Line of Credit 2,500,000 Total Liabilities $ 14,238,405

Financial Summary Line of credit Cash Flow Projections ($ Millions) Cash November 2017 $1.5 Expenses $6.1 Estimated Cash Needs through February 2018 $4.6 Transfer from Investments $2.0 Line of Credit $2.5 Estimated FY 17-18 Dues & Fees through February 2018 $175K

Financial Summary Statement of Financial Position “Maintain Financial Stability” ($ Millions) FY 2016-2017 1st Quarter 9/30/2017 2nd Quarter 12/31/2017 3rd Quarter 3/31/2018 Total Liabilities $20.0M $ 5.2 $ 7.2 $14.2 -$15 +$2 +$7

Statement of Activities Financial Summary Statement of Activities & Change in Net Assets “Manage and Control Expenses” ($ Millions) Statement of Activities 3rd Quarter 3/31/2018 Total Revenue $21.5 Total Expenses $17.4 Change in Net Assets $ 4.1  

Financial Summary Statement of Activities & Change in Net Assets Revenue 3rd Quarter 3/31/2018 Convention/Conference Revenue $ 9,357,401 Membership Dues/Fees/Insurance 7,659,265 Membership Intake 889,780 Government Grant/Donated Facilities 745,644 Investment Income (Unrealized) 943,371 Capital Campaign 927,590 Other 1,057,042 Total Revenue $ 21,580,093

Financial Summary Membership status

Financial Summary Bonding Insurance Old Policy New Policy Coverage Limit $5,000 increments by position $100,000 Per Claim Who is Covered Fiscal Officers All Members* Amount Due Min. of $20 per position $60 Per Chapter Effective July 1, 2018 *The policy that only fiscal officers receives/disburses funds remains. a

Financial Summary Statement of Activities & Change in Net Assets Expenses 3rd Quarter 3/31/2018 Headquarters Operations/Chapter Admin $7,605,341 National Convention 9,801,160 Total Expenses $17,406,501

Financial Summary Expense management Expense Reduction Measures: Reduced Legal Fees Reduced National Exec. Board/National Committee Expenses Essential Hiring Only/Revised Bonus Plan Restricted Spending-Reviewed/Re-negotiated Contracts Controlling Regional Conference Expenses

Financial Summary Registered Delegates (As of 6/26/2018) 2018 Regional Conference Registered Delegates (As of 6/26/2018) *Excluding Staff & Comps Increased Revenue/Rebates Increased Variable Expenses Food & Beverage Security Conference Bags/Gifts Space Rental Shuttle Service AV/Decorating/Staging CE EA FW MW SA SO SW Total ACTUAL* 538 2,158 947 2,049 2,955 4,366 1,912 14,925 BUDGET 388 1,581 1,049 1,744 3,057 1,549 11,526 CAPACITY 600 3400 1,122 2100 2,800 4,452 2,092 16,799

Financial Summary Expense management Outstanding Obligations ($ Millions) March 31, 2018 Pension Liability $2.4 Mortgage on 1711 $1.8 Renovations for 1711 2.0 Line of Credit* 2.5 Total $8.7 6.2M---- *Line of Credit Paid May 23, 2018

Financial Summary Investments “Monitor and Reallocate Investments”

Bank of America Investments Financial Summary Investments “Monitor and Reallocate Investments” Bank of America Investments ($ Millions) Per Capita Funds (As of March 2018) $ 9.3 Unrestricted Total Investment Value 6.3 Total Investment Value $15.6

Financial Summary External Audit “Timely Completion of External Audit” 2016-2017 Audit Completed in November 2017 Group 990 filed November 14, 2017 Grand Chapter 990 filed December 13, 2017

“Report the Sorority’s Financial Status” Financial Summary financial reports “Report the Sorority’s Financial Status” Constitution & Bylaws, Article V, Section 5, it is the duty of the National Treasurer to provide a quarterly financial report to the National Executive Board and Grand Chapter. 1st Quarter: October 13, 2017 2nd Quarter: January 30, 2018 3rd Quarter: May 23, 2018 4th Quarter: August 2018

THANK YOU! Beverly E. Smith, National President Doreen A. Dixon, MS, RIA, Chair, National Finance Committee National Finance Committee Barbara L. Bagneris, MBA Victoria I. Brown, Pamela R. Hill Helen Hill-Neely Katrina M. Hubbard, MS, M.Ed Sylvia Quinton Juliet K. Williams, CPA Gwendolyn Dailey, Director of Finance Crystal Mitchell, Coordinator of Finance