2013 Revenue (Estimate)

• Income from 173 organizations representing 22 countries = $340,000
• Total 2013 revenue (including CUL and Simons) = $765,000

2013 Expenses (Estimate)

• Projected (December 2012) = $575,000
• Mid-year adjustment = $544,000
• December 2013 projection = $500,000 (requires CY/FY alignment in early 2014)

2014 Expense Projection

• $647,000

2014 Revenue Projection

• $755,000

Reserves

• 2010-2012 = $109,000
• 2013 projection = $265,000
• Total for 2010-2013 = $374,000
• Reserve Policy