38 KEYNOTES JULY/AUGUST 2023 WWW.ALOA.ORG End 3: Operating Efficiency The ALOA Board has specified in the governance policy that: The association should have continuous development of new avenues of communication with members, prospective members, indus- try-related associations, security hard- ware distributors and manufacturers. This goal is generally accomplished by the association and its divisions partici- pating year-round in conferences, trade shows and local meetings, as well as by members of the board holding positions on various industry boards and contract- ing training at events other than those operated by ALOA or its divisions. Re- gional or local industry conferences have been slow to attract attendees. The gov- ernance policy requires that consumer awareness be promoted regarding indus- try-related changes, advancements and available consumer benefits offered by the industry. This occurs: Each month in official ALOA publi- cations, Keynotes and Safe & Vault Technology In the weekly edition of the e-newslet- ter, which is delivered directly to mem- bers, and Through direct communication End 4: Annual Convention/ Trade Shows The governance policy states that ALOA be recognized as the industry leader in advancing the locksmith security pro- fession through sponsorship of relevant events. In keeping with our governance, high ethical standards and the best interests of our membership at large, we have done the following in support of our goal: In 2022, ALOA scheduled, arranged and promoted various primary in- dustry events, including two national conventions and trade shows, at geo- graphically dispersed venues that of- fered reasonable access to the member- ship at large. A convention and trade show is scheduled for September 14-16, 2023 for the new automotive division of ALOA, IAAL. End 5: Financial The association will operate with high standards of competency and profession- alism, maintaining a financially stable and viable organization. 1) The ALOA SPAI code of ethical standards is upheld and publicized. 2) Achieving a minimum of 4% annual net income has not oc- curred since 2020 due to the can- cellation of three conventions in as many years. The conven- tions usually produce a profit of over $300,000. Ensuring a timely retirement of debt when applicable, credit worthiness status and ad- equate levels of cash for ongoing operational requirements and unforeseen events and needs were not an issue. The only debt that the association had was to the ASF, and that was paid off several years ago. 3) The Headquarters office, which was sold in January 2021 for a profit, has not been replaced. The climate is not right for real estate purchases. It is still a sell- ers’ market. There was much discussion and research before the decision to sell was finalized. With significant reporting, staff reductions, board travel elimination, non-printing of the magazines and a halt to any new programs or purchases, we were able to keep the association afloat. Substantial savings were attributed to the sale. Among them is the savings in the cost of property taxes, building insurance and utilities amounting to approximately $125,000 annually. 4) A warehouse/office is being leased. It is large enough to store training ma- terials, materials used for membership kits, etc., as well as office equipment. A limited number of staff may work in there when needed. The 2022 Financial Statement, pre- pared by Sutton Frost Cary LLP is on page 39 of this issue of Keynotes. Mary A. May Executive Director “With significant reporting, staff reductions, board travel elimination, non-printing of the magazines and a halt to any new programs or purchases, we were able to keep the association afloat.” Keynotes and Safe & Vault Technology continue to be important member benefits and avenues for providing members with updates and technical information.
