The Chartered Institute of Public Relations (CIPR) has returned to surplus in 2010 according to its latest financial statement.
As a result of the structural review, improved cost management and a focus on the more effective delivery of core member services, the CIPR made a surplus of £372,530 in the year to 31 December 2010. The surplus will enable the Institute to continue to improve member support and to rebuild its reserves following the 2009 financial losses.
The CIPR met its financial budget for the year. This included an anticipated fall in revenue year on year of 4% due to continued economic uncertainty and increased pressure on public relations spend. Despite economic challenges, revenue from membership subscriptions rose by 2% when subscription fees were held at the previous year’s level. The CIPR also welcomed more students to its courses, with an increase in Diploma enrolments and the introduction of two new qualifications, resulting in an increased surplus from qualifications year on year.
During 2010, the CIPR developed a new website, an online booking facility for members and an online Continuing Professional Development system, improving member access to key areas of CIPR activity. It also delivered a range of policy initiatives, including guidance on planning, measurement and procurement and the launch of new panels on topics such as diversity and social media. In conjunction with markettiers4dc, it launched CIPR TV as an interactive online broadcast.
Jay O’Connor, 2010 CIPR President, added: “2010 was a year of transition for the CIPR with a new strategic plan, a review of costs and operations and the recruitment of our new CEO Jane Wilson. This was balanced with support for our members in an environment where every PR budget was under scrutiny. An enormous amount of hard work by our staff, members, fellows, volunteers and partners has resulted in an Institute that is back in surplus and engaged with its members. I would like to thank all of those who contributed, including our 2010 Treasurer Sally Sykes, for everything they have done and continue to do in support of their professional body.”
Commenting, CIPR CEO Jane Wilson said: “We are prioritising closer integration of the professional development products and services that the Institute provides for its members and focusing on managing costs in the coming year. Outlook for 2011 remains cautious due to significant economic constraints and cuts in private, public and voluntary sector organisations, all of which may have an impact on the PR profession.”