California CPA education foundation treasurer's report.

• Author: Jones, Robert H.
• Position: Annual report 2008

The Education Foundation has completed another productive year with total operating revenues of $12.3 million. An increase in the number of events offered in response to market demand, improved and focused marketing efforts, an increase in our on-site training program and the addition of more webcasts contributed to our success. Live course and conference events reached record attendance levels with more than 53,000 seats sold. More firms took advantage of on-site training, which resulted in a 52 percent increase in revenue over the prior year for this segment. Additionally, webcast revenue increased more than three times over last year and total participation doubled. Sponsorship revenue also increased primarily due to the Young Emerging Professionals Conference, which attracted more than 500 people between the two locations.

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Although from an operational standpoint the Foundation experienced an overall net increase to assets, three major factors contributed to a loss at year-end. The three major contributing factors...