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More events and sponsorship help mia post first surplus in seven years

Association says better financial position will help it support its members and offer better services
03/03/2016

Pictured: Michael Stott

The Meetings Industry Association (mia) says increased events and a better debt collection system has helped its reserves move back into surplus for the first time since 2008.


The not-for-profit association has improved its balance sheet from a deficit of £25k in 2014 to £5k of reserves for the financial year ending 31 August 2015. It comes after the organisation first recorded a deficit of £39k in 2007-08.


Treasurer Michael Stott said: "The association operates to a surplus each year, and in terms of the balance sheet, we now have a positive reserve in place which is good news.


"This year we've got our balance in a better place, with a positive reserve whereas we've had negative liability before."


Stott said a number of changes from the association - including running more events and training; more sponsorship income and a better debt collection system - had helped.


He added: "Over the two years it's over a £30k improvement, but we are a not-for-profit entity and we're there to provide members benefits and services. What we want to do is make sure we're in a stable environment, with good cost management and plans in place to make sure we've got resources financially, people-wise and good systems.


"Having strong balance sheets is really important, but what's more important is doing the right thing for the members."


A new executive board, led by Eden Hotel Collections MD Mark Chambers, was unveiled this week, while the mia has also launched a subsidiary company, the Membership Support Services (MSS), which will help deliver membership services to third parties.


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