Actual spending is compared with budgeted spending and adjustments are made as needed. Our non-profit status exempts us from paying federal taxes on any income. In certain states in the United States, we are also exempt from state taxes on goods and services. In the membership category, member dues generate income. Expenses are incurred by projects to attract new members, such as the student kits distributed last year, membership brochures, and ads in CACM and interactions .
Expenses are publication fees.
Conference income is generated though registration fees and from corporate sponsorships. Conference expenses are the operational costs for organizing and conducting the conference. At the same time our Reserve Fund has quadrupled, thus giving us a secure financial status. While having a large surplus certainly allows us to feel secure, the budget is planned to balance, not to generate large surpluses. The current surplus has been generated over the past few years by profits from the conferences.