2019 ANNUAL MEETING
Welcome, thank you all for attending our annual meeting. As we are nearing the close of 2019, I would like to review our year.
In January we had a strong start with our Annual Breakfast Forecast meeting with 122 in attendance.
For our monthly meetings we had an average attendance of 42 members. Some of our topics included Restoration Myth Busters, Capital Budgets, updates from the Arizona Real Estate Deputy Commissioner and Code Enforcement from Tucson Fire Department
In April, we held our annual trade show. We held the tradeshow from 4 – 7 and our associate members worked different casino games while telling us about their services. It was a very fun afternoon and we had 55 members in attendance. The casino afternoon was well received and we may plan for another casino afternoon in 2020.
Following up with our trade show, we decided to hold our reverse trade show in May. Our associate members had the chance to ask our principal members questions.
In September, we held a brown bag lunch for our principal members. We had a good turn out and the major discussion had to do with the homeless and the damage to our properties. The outcome of the meeting was for us to go before the Mayor and City Council and to communicate our concerns for our community, our commercial properties and our safety at our properties. We have started a Homeless Task Force and our goal is to meet with the city officials the first of the year.
Out of the BOMA Conference in June, two of our members have joined a steering committee to start up a group here in Tucson for Emerging Professionals.
- The Emerging Professionals group was formed to recruit up and coming professionals to commercial real estate and get them involved in BOMA
- The group is for people who are 40 and under and/or less than 7 years of experience
- Various types of gatherings held in other chapters include networking mixers, community service projects, presentations from a BOMA member on significant topics in the area, bowling nights, game/trivia nights, etc.
Brianne and Sierra have created the following mission statement for the group:
Our mission is to create an engaging environment to recruit, retain, and educate commercial real estate professionals under the age of 40 or with less than 7 years’ experience within the local industry.
Emerging Professionals first gathering is tentatively scheduled for Thursday January 30, 2020. A venue has not yet been decided. Currently, there are 15 people on the prospective member list If anyone has questions regarding the Emerging Professionals, please reach out to Brianne or Sierra.
2019 GOLF TOURNAMENT
Would first like to have the members of the golf committee stand. Thank you all for your dedicated work in making our golf tournament a success. I also want to thank our 26 sponsors and our 92 golfers. As we know the golf tournament is our only fund raiser for the year and in 2019 golf income contributed approximately 28% of our annual income. As a placeholder in our 2019 budget we estimated golf income at $23,000.00. I am pleased to say our income from golf this year is at $27, 000. Once all the expenses have been captured and paid, we should have a net income from the golf of $16,000.00. Thank you all again for another successful tournament.
In preparing the 2019 budget, we felt we had a conservative but realistic budget. We projected a net income of $278.00 for the year. With one month left in our budget, and once all expenses have been paid in December, our net income for the year will be $8000.00. Over the last three years, we have contributed $11,000.00 to our money market account and have not had to draw on our savings. Our goal is to increase our savings by another $3,000 to $4000 this year. As of the end of October, we now have $34, 105.00 in our money market account.
As with the 2019 we have created a conservative but realistic 2020 budget. We are projecting $84,056.00 in income between membership dues and Golf income. Our projected expenses for 2020 are $83,835.00 which then provides a net income for the year of $221.00.
- We used 2019 membership dues paid of $50,550.00
- We increased the golf income from 23,000.00 to $26,000.00
- For most of the expenses we used the same numbers from 2019 budget.
- We did increase the expense for trade show in case we do another Casino afternoon, also our dues to BOMA International increased. BOMA International has raised the membership dues for 2020 and the board decided not to increase the dues for our members.
As we look forward to 2020, I would like to stress the importance of our committee work. We would like to grow BOMA membership along with development of new programs which meet both our principal and associate member’s needs. Please consider joining a committee. We hold committee meetings once a month and could use your involvement at our meetings.