NCMA - FY 05	STATEMENT OF ACTIVITIES  AND COMMENTARY FOR MAY 2005
	EXECUTIVE SUMMARY
The results for May are summarized as follows:		MAY	MAY	MAY
		Actual	Budget	Variance
Revenues		265,393	328,833	(63,440)
Expenses		303,382	275,151	(28,231)
Net Income - pre investment income		(37,989)	53,682	(91,672)
The adverse variance in May revenue results from lower than budgeted revenues for Membership (Individual and Group), Education (NES, Audio Seminars, Learning Center and books)
and Communications (CM Magazine and Buyers Guide), partially offset by better than budgeted revenues in Communications (NCMA Jobs.com)
The adverse variance in May expenses results from higher Governance costs (BOD meeting - timing of reimbursements), Administration (Staff Bonus - timing, Network systems management),
Membership (Awards for Leadership Summit, Temporary staff), and Communications (Website Management)
The adverse variance is partially offset by lower variable costs - Education (Audio Seminars and Books), Marketing (Membership) and
Certification (No Board meeting in May)
In addition with fewer employees then budgeted overall aggregate salaries and benefits are lower (Actual - $92,488, Budget $100,819)
The Year to Date results are summarized as follows:		YTD	YTD	YTD
		Actual	Budget	Variance
Revenues		4,508,598	4,471,580	37,018
Expenses		4,188,367	4,215,333	26,966
Net Income - pre investment income		320,231	256,247	63,984
The favorable variance in year to date revenues reflects better than budgeted performance in Communications (Buyers Guide advertising, CM Magazine advertising,
NCMA Jobs.com revenues, Website revenues) and Education (Audio seminar revenues)
This is partially offset by the shortfall in Meetings (ADC revenues in July, Commercial Contracting revenues in September and World Congress revenues in April) together with
Membership (Lower Corporate revenues) and Education (Delayed start in e-Learning and lower book sales)
Year to date expenses are lower than budgeted for the following reasons:
	Lower ADC conference variable costs
	Lower Commercial Contracting Conference variable costs
	Lower World Congress variable costs
	Lower Mid Year Leadership Conference costs
	Lower Strategic Planning costs (Budget and Strategic Planning)
	Deferral of budgeted costs in Certification and lower Certification Board costs
	Later than  planned start date for new Chief Knowledge Officer (Education) and Designer (Communications)
	Deferral of e-Learning product launch
	Lower than budgeted Board of Director meeting expenses
	Deferred membership costs (Chapter manual, Certificates)
	Lower marketing costs (Conferences, Certification and Membership)
	Lower Salary and Benefit costs - lower number of staff than budgeted
These lower costs have been partially offset by:
	Higher than budgeted computer system and internet management costs
	Additional accounting assistance for the period of the Accounting Manager's maternity leave
	Higher variable costs on CM Magazine, Website, NES and Audio Seminars
NCMA - FY 05
PART B	DETAILED COMPARISON OF ACTUAL AND BUDGET FOR MAY 2005
	Month	Month	Variance	Variance		Commentary on Variances
	ACTUAL	BUDGET	$	%
	May 2005	May 2005
Revenues
Governance
Leadership Summit		0	0
	0	0	0
Membership and Chapter Relations
Membership Dues	95,385	113,400	(18,015)	-16%		YTD Actual - $1,083,068, Budget $1,096,800
Initiation Fees	2,880	2,000	880	44%
Associate Dues	1,395	1,750	(355)	-20%
Retired Dues	2,080	2,000	80	4%
Group Memberships	18,159	37,000	(18,841)	-51%		YTD - Actual $223,700, Budget $218,800
						Groups renewing include Raytheon, Rolls Royce, and ITT
Corporate Memberships	0	0	0			Additional focus in June to close and collect on several groups
Affinity Programs	2,447	2,185	262	12%		Sold by third party - MGI - timing of sale difficult to predict
Merchandise Sales	0	0	0
						Total Membership Revenues;
Total Membership and Chapter Relations	122,346	158,335	(35,989)	-23%		YTD Actual - $1,435,175; Budget $1,434,630
Education
NES	50,939	63,000	(12,061)	-19%		Actual 11 seminars -(Avg Attendance 47) - Budget 14 seminars (Avg Attendance 50)
Audio Seminars	270	6,615	(6,345)	-96%		No seminars in May - Budget 1 seminar - attendance 50 @ $125 each
						Revenue is CD and tape sales
Learning Center	0	3,500	(3,500)	-100%		Third party sale - timing is difficult to predict - Actual YTD $33,500 - Budget $27,500
Books	4,552	8,016	(3,465)	-43%		Book sales - timing difficult to predict
E-Learning	3,302	3,580	(278)	-8%		VCampus
Total Education	59,062	84,711	(25,649)	-30%
Communications
Buyers Guide	2,884	7,917	(5,033)	-64%		Sold by third party (NPI) and timing of sales is sometimes difficult to predict
						Ytd Act - $99,113 - Bud $87,087
NCMA Jobs.com	33,250	17,500	15,750	90%		Continues to outperform budget			Ytd Act - $322,258 - Bud $192,500
Career Fair	0	0	0
CM Magazine	41,136	53,500	(12,364)	-23%		Ytd Act - $590,209 - Bud $449,500
Website	3,500	3,500	(0)	0%		Ytd Act - $62,850 - Bud $38,500
Reprints	0	208	(208)	-100%
Total Communications	80,770	82,625	(1,855)	-2%
Certification
CPCM	2,065	1,725	340	20%
CFCM/CACM	980	1,137	(157)	-14%
CCCM	150	300	(150)	-50%
Miscellaneous/CMBOK	0	0	0
Total Certification	3,195	3,162	33	1%
Meetings
Commercial Contracting Conf	0	0	0
ADC/West Coast Conference	0	0	0
Govt Contract Mgmt Conf/ECC	0	0	0
World Congress	0	0	0
Total Meetings	0	0	0
Other Revenue
Miscellaneous	20	0	20
Total Other Revenue	20	0	20
Total Revenue	265,393	328,833	(63,440)	-19%
			0
Expenses
Governance
Board of Advisors		0	0
Board of Directors	6,100	2,833	(3,267)	-115%		World Congress travel, hotel, board meeting costs.
Council of Fellows		0	0			Part reception costs at World Congress
Executive Council		0	0
Leadership Summit		0	0
National Officer Support		0	0
Regional Administration		0	0
Strategic Planning	314	0	(314)			Budget meeting expense claim
Committees		0	0
Total Governance	6,414	2,833	(3,581)	-126%		Governance YTD - Actual $126,876 - Budget $160,894
Administration
Salaries and Benefits	43,124	38,037	(5,087)	-13%		Dir of Marketing resigned January 31 and P Bayne and B Murphy allocated to
						Membership, Education and Certification - offset by inclusion of staff bonus
						(Budgeted in June) and catch-up adjustment
Administration	33,092	22,641	(10,451)	-46%		Computer system management by third party - $7,447, Office relocation
						costs - $582 and higher telephone and equipment lease costs.
Building	11,625	12,155	530	4%		Lower parking and maintenance charges
Finance	12,369	11,471	(898)	-8%		Higher bank charges/credit card processing fees as a result of World Congress transaction volume
						in April partially offset by a further property tax credit from the County of Fairfax
Marketing	14,157	19,544	5,387	28%		Lower direct mail and trial membership costs.
Total Administration	114,368	103,848	(10,520)	-10%		Total Administration Expense YTD Actual $1,463,092, Budget $1,421,687
Membership and Chapter Relations
Salaries and Benefits	7,781	14,421	6,639	46%		No Director of Membership (resigned as of 12/30/04) offset by allocation of B Murphy
General and Administrative	3,060	0	(3,060)			Membership associate - long-term temporary staff
Individual Memberships	717	4,851	4,134	85%		Lower postage and printing costs
Corporate Memberships	0	0	0
Chapter Relations	20,934	11,175	(9,759)	-87%	(	Represents chapter rebate accrual and Leadership Summit awards
					(	given to chapter representatives
Communities of Interest		0	0
Total Membership and Chapter Relations	32,493	30,447	(2,046)	-7%
Education
Salaries and Benefits	8,452	8,474	22	0%		Chief Knowledge Officer and allocation of P Bayne
General & Administrative	1,352	1,292	(60)	-5%		Amortization of Learning Center maintenance and SB travel/phone costs
NES	44,523	16,410	(28,113)	-171%		Cost of books, shipping, room rental, and speaker and royalty fees
						Budget underestimated royalty fees, travel and cost of books
Audio Seminars	705	4,100	3,395	83%		CD costs and In-house ad charge
Learning Center	2,917	3,880	963	25%		Amortization of Learning Center Cost
Cost of Books	2,959	5,136	2,177	42%		Cost of books, shipping costs and royalty fees
E-Learning	2,432	1,604	(828)	-52%		Commission on revenues and amortization of software
COI Committees	0	1,750	1,750	100%		No committee meetings/teleconferences
		0	0
Total Education	63,339	42,646	(20,694)	-49%
Communication
Salaries and Benefits	21,200	26,385	5,185	20%		IT Manager terminated 7/31/04
Buyers Guide	793	2,177	1,384	64%		Lower sales, lower commission
NCMA jobs.com	4,000	4,000	0	0%		Fixed flat rate fee per month of $4,000
Career Fair	500	1,000	500	50%		Flat monthly contract fee - $500 - Budget also has $500 marketing - not used
CM Magazine	40,401	39,853	(548)	-1%		Lower sales - lower commission; but higher printing costs
BPA Audit	253	242	(11)	-4%		Monthly charge
Journal	0	0	0
Website	5,705	1,046	(4,659)	-445%	(	IT Manager was terminated on July 31. Third party vendor (Mindshare) contracted to
					(	manage the internet. Costs include clean-up of system, troubleshooting problems,
					(	and content update. Charge in May is $4,592. Balance is web site commission
Reprints	0	0	0
Total Communications	72,852	74,703	1,851	2%
Certification
Salaries and Benefits	2,864	7,124	4,260	60%		Director of Certification resigned February 28 -
						CKO and P Bayne now partially allocated to Certification
						Health insurance credit also received in May
General Program Expenses	281	2,172	1,891	87%		CKO travel and sundry expenses - legal expenses budgeted but not incurred
Certification Board	0	5,000	5,000			Board met at World Congress in April - no meeting held in May
CPCM	286	0	(286)			Amortization of Certificates and stickers
CFCM/CACM	253	0	(253)			Amortization of Certificates and stickers
CCCM	253	0	(253)			Amortization of Certificates and stickers
Total Certification	3,938	14,296	10,358	72%
Meetings
Salaries and Benefits	9,067	6,379	(2,689)	-42%		Addition of full time Meetings Assistant
General & Administrative	911	0	(911)			Depreciation of audio visual equipment and general conference name tags
Commercial Contracting Conference	0	0	0
ADC/West Coast Conference	0	0	0
Government Contracting/ECC	0	0	0
World Congress	0	0	0
Total Meetings	9,979	6,379	(3,600)	-56%
Total Expenses	303,382	275,151	(28,231)	-10%
			0
Net Gain/(Loss) before Investments and Other	(37,989)	53,682	(91,672)	-171%
Investments
Investment Revenue	5,338		5,338			Consistent with prior years nothing budgeted for investment activity
Unrealized Gain (loss)	37,540		37,540			because of the unpredictability of the stock market
Investment Fees			0			Unrealized gain in May reflects gains in both fixed income and domestic
						equities
Net Investment Revenue	42,878	0	42,878
Net Gain(loss) before Other	4,889	53,682	(48,794)
Other Income/Expense
Other Income/Expense - Net	0	0
Net Gain (loss) before Income Taxes	4,889	53,682	(48,794)
Income Tax Expense