Since this topic has come up several times, I thought I’d cover some data with the board. Sometimes a video is better than an explanation. ;-)
Sorry that the numbers are small and hard to read.
I’ve pasted a screenshot of the spreadsheet below (click to enlarge it).
Main Points
Our overall annual dues income has been relatively steady since 2018
Roughly $16,000 each year
Although total dues collected decreased immediately following the tiered membership discounting, our total dues income has leveled out for the past four years
Not sure why 2019 was noticeably higher
The benefit of the tiered dues system ( 1-, 2-, and 3-year membership with discounts of 0%, 10%, and 20%, respectively) has been worth the cost.
As mentioned above, overall income is holding steady
Renewal rates for the discounted memberships are high
So, we’ve addressed the perennial “one and gone” problem MWSA faced for many years.
Although our dues are “future income” (i.e., paid each month during every year), we can adequately plan our budget based on assumed income from dues.
Click to expand