The IPA has again enjoyed a period of relative stability, steady income, and growth of reserves.
The IPA became a limited company on 30 June 2015, and accounts are now signed off annually by the Directors, with a summary automatically placed in the public domain on the Companies House website (https://beta.companieshouse.gov.uk/company/09664370). Accounts are also prepared annually in a second form for submission to the tax authorities. Those are not automatically published, but we have published them via our website, and this report should be read in conjunction with them (https://www.internationalphoneticassociation.org/content/officers-reports). We also prepare a third form of accounts, a more detailed schedule of income and expenditure for our own management purposes. These are not published, but any member who wishes to see them can request a copy from the Treasurer.
The IPA has two main sources of income: (i) Cambridge University Press (CUP), largely for royalties on the Association's journal, JIPA, and (ii) our members' subscriptions. From 2016, subscriptions have been priced and collected in sterling.
The largest annual items of expenditure are a (i) payment to CUP for members' journals and online access, (ii) administrative and technical support for the journal editor, (iii) student awards for conference attendance, and (iv) accounting costs.
In the three years ending 30 June 2018, the average net annual income from CUP was £25,625 and from subscriptions £8264. This continues the pattern reported in 2015 that approximately three-quarters of the Association's income is generated by JIPA. Over the same period, the average amount paid in editorial support was £4204, and in student awards £3847. Accounting costs averaged £2484 per year.
On average, the IPA has paid Corporation Tax of £3634 per year since incorporation. Converting the Association to a charity has been considered, but at present it is judged that the additional costs and responsibilities brought by charitable status would outweigh the possible tax savings.
A NOTE ON THE PRESENT YEAR
In the current year, the membership boost linked to ICPhS is likely to raise subscription income to more than £10,000. A record amount of over £30,000 has already been paid out in student awards. At the time of writing (19 July 2019), the Association's reserves are approximately £186,000.
FUTURE
The Treasurer has completed the maximum two terms of office, and in August 2019 will hand over to the incoming Treasurer, Dr Ghada Khattab. He congratulates her on her election, and wishes her every success in the role. The outgoing Treasurer also wishes to thank all past and present members of the Executive and Council, colleagues at Cambridge University Press, our accountants at Beavis Morgan, and particularly the IPA's Webmaster, Dr Kayoko Yanagisawa, for their cooperation and support over the last eight years.
