The fiscal and calendar year ending December 31, 2005, marked another year of strong, positive financial growth for INS. We are pleased to report an increase in net assets of $235,644 for the year. The following items had a significant impact on the bottom line and merit further explanation:
* Membership. The increase in membership continued for the second consecutive year. Two hundred additional members were added to the INS membership rolls, bringing our membership total to 5,472. Our membership campaigns, along with our retention programs, were instrumental in helping to increase the membership. By continuing the use of the Allegiance for Associations membership survey program, we have been able to identify the issues that are of importance to our members. This has guided us in the creation of programs and resources that meet their varying needs. Our surveys continue to indicate a majority of members who point to our ability to provide them with specialized information as a key reason for their membership in INS.In addition, we were able to decrease our membership-related expenses by 7%, due in part to a more targeted approach in our membership campaigns, which led to a decrease in mailing and printing costs.Lastly, despite the rising costs that affect all of us, 2005 marked the ninth consecutive year that membership dues remained at $90. We are proud to be able to keep this cost at a consistent level while increasing the value of your membership.
* Meetings. Robust registration numbers for our Annual Meeting in Fort Lauderdale, Florida, and our National Academy and one-day program in Atlanta, Georgia, resulted in a 22% increase in meetings revenue in 2005. Total attendance at all 3 meetings increased by 48%. All of our meetings continue to receive high marks for their educational content and applicability to your daily practice. The INS Board would like to extend its thanks to the National Council on Education for their work in developing these cutting-edge programs. We would also like to thank all of our members who supported our meetings and helped make 2005 such a success.
* Publications. Sales of educational products increased by 19% in 2005 and was a key component that led to our overall increase in publications revenue. In particular, bulk sales of Infusion Nursing Standards of Practice and Policies and Procedures for Infusion Nursing contributed greatly to this increase.The use of broadcast e-mails in conjunction with the INS online store has helped boost sales of INS educational resources. It has also made the ordering process quick and efficient while helping INS reduce its printing and mailing costs.
* Certification. An important component of INS' Strategic Plan is to serve as a champion for infusion nursing certification. As a result, INS continued its support of the INCC certification program by providing financial assistance through a $120,000 grant.In conclusion, an independent accounting firm audited the INS financial statements for the year ending December 31, 2005, and issued a clean opinion.