The Financial Health of Our Organizations: AMTA
This is the fourth year that I have reported on the financial status of the non-profit organizations that represent the massage therapy profession. I am not an accountant or a financial expert. The information is taken from Guidestar, a clearinghouse where you can look up the financial filings of non-profits.
The American Massage Therapy Association is showing a loss for the year of almost $110K. They still have net assets of over $12 million, so I don’t think they’re in any danger of disappearing on account of it.
The latest 990 was filed in July of 2011. The revenue was down by about $320K from the previous year, but with total revenues of over $12,000,000 that’s not a very drastic decline. However, it doesn’t matter if your dealing in dollars or millions of dollars, the objective is to have more revenue than you do expenses, and that wasn’t the case for this filing. The approximately $110K loss they had was due to expenses being more than they took in.
AMTA compensates the members of their elected Board of Directors, in amounts ranging from $5000 for members-at-large to almost $40K for the President (during this filing, that was Kathleen Miller-Read.) Executive Director Shelley Johnson was paid a little over $177,000–a drastic cut from the $316K plus almost $10K in “other” compensation that was paid out to the immediate past ED, Elizabeth Sublewski (aka Liz Lucas). Sublewski also received severance pay of over $82,000. Total salaries accounted for almost $4 million of the total expenses, which came to a total of $12,724,393; that is actually over $500K less than they were the year before. READ MORE…