As a not-for-profit organization, PRSA’s financial goal is to maintain the fiscal viability necessary to serve our members' needs, while returning 1 percent of annual expenses to our net asset balance each year. The net asset balance (“reserve”) — as recommended by the American Society of Association Executives (ASAE) — helps ensure long-term financial stability.
Our income is earned through membership dues, professional development events, conferences, sponsorships and other sources. PRSA’s fiscal year tracks the 12-month calendar year; at year end, our annual financial statements are audited by an independent public accounting firm, in keeping with PRSA’s Bylaws, Policies and Procedures and best practices. The audited financial statements are then reviewed by PRSA's Audit Committee, Finance Committee and Board of Directors, before being made available to members via MyPRSA.
PRSA also prepares unaudited financial reports on a quarterly basis, which are likewise reviewed by our Finance and Audit committees and Board. These unaudited financial statements are made available to members, as well.
In addition, PRSA’s chief financial officer and treasurer deliver a full report on PRSA's financial condition each year to PRSA's National Assembly. Please note: this information is available only to PRSA members who are logged in to MyPRSA.