CARSE 

On July 9, 2024, the NACE Board of Directors voted to increase dues starting in 2025. The presentation of the financials was given in the fall of 2023, and it was obvious that adjustments would need to be made to continue providing value and results for the NACE membership. Inflation over the last two years is the main reason for the anticipated shortfalls, as they have affected our conference profit immensely, with a 40% increase in NACE conference costs. Past President Blue established a financial committee to review and bring several options to the April Annual Conference in Palm Springs. The committee brought information showing that without any adjustments, the cash balance in 2024 would be a deficit of over $32,000 and over $120,000 in 2025. 

The board, after a lengthy discussion, encouraged the financial committee to review what would be necessary for an increase significant enough to be able to serve the membership at the current level, start to build reserves to help keep the conference cost lower, and plan for small annual increases to withstand future inflation. After the committee's work this spring, they proposed increasing from $275 per vote to $485 per vote for 2025 and 2026 and then having an increase starting in 2027 of 3% rounded to the nearest $5. With this increase, NACE will be able to continue to achieve its mission for its members rather than what we would have to take away.