IoD releases Annual Report 2018
The Institute of Directors (IoD) has released its Annual Report 2018 and invited members to attend its Annual General Meeting to be held in Auckland on 19 June.
Highlights of the annual report include:
- In 2018 IoD made a surplus before income tax of $641,923. The surplus is less than 2017, mainly due to fewer courses run than budgeted, but the result is ahead of what was budgeted for.
- This final surplus figure includes an increase in cost of services as IoD brought in additional staff to service its growing membership base.
- IoD increased its reserves by $278,963 to help fund its ongoing digital project and also to increase its general ‘rainy day’ reserve, in line with IoD Council’s reserves policy.