The Institute for Public Relations today released audited 2006 financial results, showing solid growth in research and education programs focused on the science beneath the art of public relations. The independent nonprofit reported total revenues of $839,985, a 47% increase over the previous year. For the first time the Institute included in-kind contributions in its financial reporting, reflecting in part goods and services received in connection with its 50th anniversary celebration and an overhaul of the website where the Institute makes its research available free.
Total assets reached $345,665 while total net assets were $297,152, an increase of $69,937 from 2005.
Revenues for programs like the Summit on Corporate Communications and the International Public Relations Research Conference represented well over half of total revenues.
“Generous contributions from our many supporters are essential to accomplishing our mission, but it’s very healthy when a nonprofit derives a greater portion of its revenues from programming that is relevant to constituents,” said Peter Debreceny, chairman of the Board of Trustees. “We take our responsibility for good financial governance very seriously, and we are pleased to again have such a favorable audit.”
