TREASURER’S REPORT 2015
In accordance with general responsibilities, the following NFPA Treasurer’s Annual Report is issued to Association members.
BY TOM LAWSON, TREASURER
Publication revenues were in line with expectations for 2015, with lower sales of the National Electrical Code® (NEC®) and the NEC Handbook compared to last year. Revenues over the three-year publication cycle improved modestly. Membership levels ended the year at approximately 60,000 members, and membership revenues were slightly below the previous year. Training revenues exceeded those of the previous year with increased revenues from online training. Total revenues were slightly ahead of expectations.
Total expenses for the Association were similar to 2014 levels, and NFPA generated a small operating surplus that was better than the budgeted deficit. NFPA experienced negative returns in the investment portfolio and an unfavorable pension liability adjustment. These contributed to an overall decrease in net assets of approximately $6 million. However, with no debt, NFPA remains in a very sound financial position.