Yesterday the Board of Directors meeting ran long — we didn’t finish up until about 6PM — and I didn’t get around to posting my second-half report. So here are some of the other items we managed to tackle during our semi-marathon session:

1. We reviewed NAELA’s financial situation and budget for the rest of this year. After a scary start last year, careful budget monitoring and cost cutting has resulted in a projected budget surplus, and we currently have over $250,000 in cash. Of course, that good news has to be tempered with the reality that it is early in the year — we get lots of dues money in the first month or two, and then have steady expenses throughout the rest of the year. Still, the financial picture is vastly improved over last year’s scary situation.

2. We had a very interesting report from NAELA staffer Kirsten Brown Simpson. She has analyzed the membership information she can extract from our prior management company’s records, and observes that we have a very high renewal rate from members, a strong loyal following, and members willing to spend money on more than just the membership costs (they purchase seminars, printed materials, even logo shirts). Looking more closely, however, it is apparent (but really unsurprising, if you think about it) that our highest non-renewal rates are in those members who have belonged to NAELA for three years or less. We need to think about what we can do to retain those members’ interest and loyalty.

3. We heard from incoming NAELA President Ruth Phelps that she has assigned chairs to every Committee and Section, and that many of the committees have been largely selected. Of course there are always opportunities for those who want to volunteer time, energy and ideas; she solicited any suggestions or expressions of interest.