Vision 20/20 ... a progress report.

• Author: Penney, David M.

In my last column, I outlined the boundaries of TEI's Vision 20/20 Task Force, which was chartered by the Institute's Board of Directors to define the "ideal TEI" for today and the year 2020 and to develop a strategic plan that allows the Institute to remain responsive to the needs of the in-house tax community. The last time the Institute undertook a strategic planning initiative was at the turn of the century. It was then that the Institute formally adopted the vision of TEI as "the preeminent association of business tax professionals"--we later added the word "worldwide" at the end--and the mission of TEI as "an association of business tax professionals serving its members and their employers through education, networking, and advocacy." We also fine-tuned the organization's principle and purposes (which are set forth on page 300 of this issue of the magazine), and adopted the following five broad goals:

* To provide high quality education that is responsive to the needs of members and their employers.

* To maximize and facilitate networking opportunities for members.

* To expand and enhance the effectiveness of advocacy efforts.

* To attract and retain members.

* To ensure an efficient and effective organization.

Although it is too early to say whether the Vision 20/20 initiative will lead to any changes in the vision, mission, principle, purposes, or goals of TEI, I for one do not currently envision a major overhaul of the "why we exist" and the "what do we want to do" of the Institute. The emphasis we place on particular goals and objectives, however, and, perhaps more dramatically, the "how" we go about achieving those goals--the particular strategies we adopt in 2012 and the ensuing years--may well change.

The More Things Change....

The tax world and the world of TEI have changed considerably since the last strategic plan was adopted in 1999. For example, TEI is a larger organization, with total membership more than 30 percent higher than 12 years ago. This growth has contributed to a shift in the Institute's sources of revenue (from primarily a mixture of dues and registration fees, plus investment returns and modest royalties) to a balance sheet reliant on sponsorship payments and royalties to a degree never imagined by the Institute's early leaders. Why? Because we are larger, we are a more attractive audience for professional service and other firms that market their products to tax executives. (TEI's audited financial...