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INDIAN ARTS AND CRAFTS ASSOCIATION 2015 ANNUAL MEMBERSHIP REPORT

Financial Summary

IACA

Today, IACA is on solid financial ground. That was not the case just a few short years ago, as

described in the chart below. Revenues were lower in 2013 due to a shift in membership renewal

protocols which changed from a member anniversary date renewal to a fixed November 1

membership renewal date. Additionally, IACA did not host a fall wholesale market in 2013 which

had an impact on 2013 revenues. 2014 Net Income was down significantly largely due to a grant

provided to the IACA Education Fund to offset losses incurred by the Education Fund. 2015 Net

Income is up significantly due to the savings incurred by changing the IACA Journal from a magazine

format to a newsletter format.