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2020 Major Income Categories*

2019 Budget 2019 Actual 2020 Budget

*See notes, next page

2020 Budget Projected Revenue Notes

Dues - Good performance this year in dues revenue compared to budget (+4%), on the heels of a flat year in 2018. Absent a compelling reason to expect further growth, we are keeping it essentially flat for 2019 budgeting purposes. Congress - Ft Worth was an extremely good location for us this year, with significantly better net performance than expected. In contrast, Orlando in 2018 saw our first dip in attendance in over 7

• years. Detroit remains an unknown, so we are projecting essentially flat revenue (within 1% of

2019). Congress is always the largest single unknown in our income budget development process. Education - We project about $150k in E-learning revenue based on our new enterprise pricing

• model. This is an optimistic but we believe achievable projection based on the most recent

sales/discussions with interested companies. CoP Meetings - We anticipate continued strong revenue results here given the significant growth in the numbers of CoP events over the last two years. The projection is 8% higher than the 2019 budget and close to 2019 actuals.

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2020 Major Expense Categories*

2019 Budget 2019 Actual 2020 Budget

*See notes, next page

2020 Budget Projected Expenses Notes

Congress - We project increased Congress expenses on the order of 8% from 2019 actuals. Our AV vendor (who is very experienced in working in major cities coast to coast) has warned us that the unionized workforce in Detroit will represent a significant cost driver, which accounts for a good chunk of the 8% increase. Numerous other costs are expected to rise as well for the plethora of materials and services now required to do a quality job of producing Congress. Education - Consistent with our projected revenue growth in this area we are budgeting for cost increases in the E-learning management system we contract for, since costs are derived from per- head participation. Our development costs to produce and post additional courses remain fairly constant, so no real savings anticipated there either. Research - Given the increase in the number of proposed projects from 2019-20, an additional $50k has been earmarked for more research funding in 2020 (from $300k to $350k annually). CoP Meetings - Costs will continue to rise consistent with additional numbers of events being

• sponsored. We expect the CoPs to continue to run in the black overall, but not to generate any

substantial excess income over expenses.