The Canadian Plastics Industry Association (CPIA) has released its annual financial results for 2007. The associati...
May 26, 2008 by Canadian Plastics
The Canadian Plastics Industry Association (CPIA) has released its annual financial results for 2007. The association reported net revenue of $318,377 in the fiscal year of 2007, a marked improvement over the company’s finances in 2006.
In the previous year, CPIA reported a net loss of $424,838. The increase in 2007 net revenue was attributed to the Plast-Ex trade show in May 2007.
Total program expenses showed an increase of $903,649 to $2,955,090, which included the association’s trade show expenses of $894,066. However, the association said it had reduced administrative expenses by eight per cent to just over $2.3 million in 2007.
However, the association also reported that revenue from membership decreased by $128,292 to $1,703,427 in the last year.
“Revenues from membership dues were reduced, but administrative costs were reduced even more,” said CPIA president and CEO in his message in the report. “Your association remains diligent in trying to deliver its important services in a cost effective and affordable manner.”
Lavoie added that the salary budget, as an example, has been cut by 29 per cent during his tenure.
Additionally, the association is planning a restructuring later this year, details of which will be made available in July 2008.
At the association’s annual general meeting, board chair Dave Birkby also took aim at industry companies who reap the benefits of CPIA’s services, but don’t pay for membership to the association.
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