Finance / Compensation Committee Meeting June 4, 2013, Taipei .
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Transcript of Finance / Compensation Committee Meeting June 4, 2013, Taipei .
Finance / Compensation
Committee Meeting
June 4, 2013, Taipei
www.witsa.org
Call to OrderCall to Order
Dr. Amado EspinosaDr. Amado Espinosa
www.witsa.org2
Roll CallRoll Call
Dr. Jim PoisantDr. Jim Poisant
www.witsa.org3
Committee Members
www.witsa.org4
City Name Organization Attendance1 Chinese Taipei James Liu CISA
2 Japan Takashi Igarashi JISA
3 Mexico Dr. Amado Espinosa CANIETI
4 Mexico Santiago Gutierrez WITSA
5 U.S.A Dr. Jim Poisant WITSA
For the Four Months Ended April 30, 2013
Summary Balance Sheet
www.witsa.org5
Apr 30, 2013ASSETSCurrent Assets
Cash Accounts 68,123.48Accounts Receivable Net of Allowance 160,110.00Prepaid Expenses 5,944.68Investments - CD's 256,878.59Net Fixed Assets 2,311.71
TOTAL ASSETS 493,368.46LIABILITIES & EQUITYLiabilities
Current LiabilitiesCredit Card Payables 229.67Accrued Expenses 26,844.69Deferred Revenue 109,625.03
Total Liabilities 136,699.39Equity
Unrestricted Net Assets 467,400.79Net Income -110,731.72
Total Equity 356,669.07TOTAL LIABILITIES & EQUITY 493,368.46
Summary Income Statement
www.witsa.org6
Jan - Apr 13Ordinary Income/ExpenseIncome
Investment Income 1,260.68Program Income 44,916.64Other Income 5,155.00
Total Income 51,332.32Expenses
Contract Services 26,718.84Operations 5,013.81Salary and Benefits 125,347.49Travel Expenses 5,363.93Other Expenses -380.03
Total Expense 162,064.04Net Income -110,731.72
Status on WCIT 2012 payment
Karna Gupta (calling in)
www.witsa.org7
Status on WITSA Event Licensing Fees
www.witsa.org8
1. WCIT 2012 Balance Payment: Board of Directors’ decision to allow 3 years for (300K); if 300K not paid in 3 years payment reverts back to 400K
2. GPATS 2013 - ½ Paid (On Schedule)
3. WCIT 2014 (Paid in Full)
4. WCIT 2016: Contract signed on May 24th and sent back to ASSESPRO for processing by the Federal Government of Brasilia (Payment of $750K due NLT November 12, 2013)
Federal Government of Brasil
will host an official launch of the
WCIT 2016 in Brasilia
JUNE 17, 2013
www.witsa.org9
Status on WCIT 2016 Licensing Fee
Event Licensing Accounting
www.witsa.org10
1) Revenue recognized when contract is signed
2) Recognize Revenue upon receipt of payment/s
3) Recognize revenue over length of agreement
4) Recognize after the event
Finance Committee review June 4th Proposed 2014 dues: Combined score based on 2012 Global
Spending Indices from Global Insight & 2013 Global Network Readiness index from WEF.
From 9 to 6 dues levels: $8,625 - $5,750 - $2,875 - $1,438 - $575 - $288
Level 6 for low income & low middle income countries ranking < 100 in GDP
Sustaining Members (new category): a Min of 50% more than scheduled
Few members will see major dues increases; a few reductions. 2014 dues (billable): $94,588 (+ Sustaining Members)
Proposed New Dues Structure (hand-out)
www.witsa.org11
Present Sources of WITSA’s Revenue
www.witsa.org12
Events (GPATS) $75K (WCIT) $750K
Advisory Council $75K
Dues $80K-$100KGlobal Partners
$75K
Members reported that they receive funding mainly from three (3) sources:
Recent Member Survey Results
www.witsa.org13
Members reported the following revenue sources not currently being used by WITSA:
Listing of Sources that WITSA is not Using (1/2)
www.witsa.org14
Types of Services / Activities Group
Develop strategic program which members/ non members need to pay to use.
Support government agencies' program in return for administration/ marketing fees.
Organization of commercial activities under request of a third party (preparation of catalogue of exporters, organization of seminars for exporters.
Event Management
Advertising Marketing
Govt. grants for specific initiatives and projects (these are not fixed but depend on the proposal or the initiative as the case may be).
Government Funding International Funding (WB)
Grants / Funding
Members reported the following revenue sources not currently being used by WITSA (Cont’d)
Listing of Sources that WITSA is not Using (2/2)
www.witsa.org15
Types of Services / Activities Group
Consultancy Projects Business Services Outsourcing Industry Standardization Services Services for example: Business Meeting Software Application: we
obtain revenue for rent of this software application, Consulting Services, etc.
Using AMETIC R&D activities that facilitate consortiums between companies of the ICT sector as a platform to attract new associates. For example, offer a special fee "to partner with AMETICf or a semester" for those who access our R&D services. This could be
a very attractive offer; especially for the SME’s.
Services / Consultancy
Membership Services (Training, Software Escrow, Meeting Room Hire)
Training Activities / Training and Seminars
Training
Potential Revenue Sources
www.witsa.org16
1 B2B Portal
2. Dues (Sustaining Members Category)
3. WITSA Global Partner Program (Commissions)
4. WITSA Advisory Council (Commissions)
5. WITSA Member Grant Opportunities
6. The Millennium Edu Project
7. Digital Planet Sales
8. IMT Contact Center / ERM Certification
9 Others to be discussed
Dan Salcedo: Winner of top WITSA ICT Excellence Award
Founder Open Entry (B2B-B2C Site)
Mr. Salcedo prepared a sample site for WITSA:
Http://NM.OpenEntry.com/WITSA
Potential Revenue Source: 15-20K + per year
B2B Portal
www.witsa.org17
Ways to increase income:
www.witsa.org18
2014 Dues Structure (Sustaining Membership)
Increasing Global Partners & Advisory Council Members(Quite feasible)
Global Partners / Advisory Council
www.witsa.org19
Present: Mexico, Taiwan, US (25K Each)
Dropped: MDeC Malaysia (Supported former Chairman)
Potential Revenue=$250,000.00 annually
Present Corporations: Intel, Dell, EPAM, Microsoft, CISCO, Google - $90,000.00
Potential 150,000.00 + per year
• MillenniumEdu-Foundation• Multi stakeholders (over 30 multinational corporations
involved)• Modelled after PISA Portugal project• Educational ecosystem-teachers, students, K-12
Curriculum in native language• 15 million laptops (under$200.00 USD) ea.• Opportunities for WITSA and members:• Project management, integration, commissions,
maintenance
MillenniumEdu Project
www.witsa.org20
MilleniumEDU Project
Mario Fanco
Founder
Special Guest
www.witsa.org21
www.witsa.org22
www.witsa.org23
OPEN DISCUSSIONOPEN DISCUSSION
www.witsa.org24
THANK YOUTHANK YOU
www.witsa.org25