The New Jersey State Bar Association's Board of Trustees on June 16 approved the operating budget for 2022-2023.
The budget, which starts July 1, reflects about $11 million in projected revenue and nearly the equivalent in projected expenses. First-year members will be offered free dues and free membership in the NJSBA Young Lawyers Division. The plan anticipates a resumption of in-person events, but will also continue to offer virtual and hybrid options for events and meetings that keep members up-to-date and provide benefit to their practice and professional endeavors. The budget allows the Association to continue providing meaningful membership experiences to better serve the legal community. This includes the printing of New Jersey Lawyer magazine and many other services.
The budget is published here, per the bylaws.
NEW JERSEY STATE BAR ASSOCIATION 2022-2023 OPERATING BUDGET
MEMBERSHIP DUES
Membership Dues 2,850,000
Section Dues 300,000
YOUNG LAWYERS DIVISION
YLD Dues 17,000
Seminars 2,500
Entertainment 6,000
Community Service/Other 1,000
MEETINGS
Mid-Year Revenues 322,378
Annual Meeting Revenues 1,162,125
Law Ctr Meet. - Outside Grp. 85,000
Meetings Rev. - Sect & Comm 125,000
Meetings Rev. - Family Law Retreat 266,000
Meetings Rev - Retreats 72,000
OTHER INCOME
Comm. On Professionalism 15,000
Advertising 60,000
Interest On Investments 45,000
Foundation Agreement 47,940
LAP Agreement 49,512
Royalty/Miscellaneous Income 83,200
Ethics Diversionary Program 23,430
Corporate Partner Program 70,000
Miscellaneous Sponsorship Income 120,000
Leadership Academy Income 8,000
ICLE Revenue 5,172,600
TOTAL REVENUE 10,903,685
PERSONNEL/TRAVEL
Salaries/Bonus 4,432,019
Part-time/Temporary Staffing 30,000
Federal/State Payroll Taxes 356,962
Group Insurance 600,000
Retirement Plan 234,050
Education 2,000
Staff Assoc. Travel/Hospitality 30,000
Assn. Auto Expense 14,000
ADMINISTRATIVE
General Postage 40,000
General Printing 5,500
Delivery Service 6,000
Office Supplies 25,000
Miscellaneous Expense 310,000
Audit 59,000
Association Dues 9,000
EQUIPMENT & SERVICES
Telephone 26,500
Equipment Rental & Maint. 38,000
Computer Expense 450,000
Copier Expense 55,000
BUILDING OPERATIONS
Building & Contents Insur. 111,000
Law Center Rent & Other Exp. 553,180
MEETINGS DEPT - MID-YEAR
Meeting Functions 266,514
Speakers & Guests 4,000
Officers 12,910
Staff/Site Visits 21,500
Miscellaneous 15,520
ANNUAL MEETING
Meeting Functions 551,250
Speakers & Guests 55,000
Officers & Guests 7,500
Staff 42,000
Printing & Mailing 12,000
Miscellaneous 168,500
Exhibits 55,000
GENERAL MEETING EXPENSES
Law Ctr Meeting - NJSBA 52,120
Law Center Mtg - Outside Grp. 42,500
Law Ctr Meet.-Sect.&Comm. 75,000
Meeting Expense - Fam Law Retreat 266,000
Meeting Expense - Retreats 58,000
COMMUNICATIONS DEPARTMENT
New Jersey Lawyer Magazine 95,000
Directory Printing 250
Photography & Video 9,000
Website Dev. & Hosting 5,000
Law Journal Pages 20,800
Daily Briefing 12,252
SECTIONS & COMMITTEES
Misc. Sections & Committee Exp. 19,500
Sections/Committee Newsletter 15,000
Election Expense 6,000
MEMBERSHIP PROMOMOTION/SERVICES
Member Solicitation/Retention 48,000
LEGISLATIVE/LEGAL
Legislative Research & Reference 7,500
Legislative Operations/Events 2,500
Legislative Lobbying Expenses 12,000
YOUNG LAWYERS DIVISION
YLD Operating Expenses 1,000
YLD Travel Expenses 5,000
Seminars 2,000
Community Service/Other 1,000
Entertainment 7,500
Annual Meeting/Receptions 10,000
OFFICERS & BOARD OF TRUSTEES
Officers Expenses 25,000
Presidential Initiatives 10,000
Regional County Bar Meetings 12,000
ABA - Annual 10,600
ABA - Mid-Year 12,300
Bar Leadership 6,500
Mid-Atlantic Conf. 5,000
Board of Trustees Expenses 25,000
E & O Insurance 23,000
Leadership Series 8,000
OTHER EXPENSES
Contingencies 10,000
Depreciation Expense 140,000
Bad Debt 10,000
Comm. On Professionalism 21,000
Legal Research 48,000
Public Relations 7,500
Ethics Divers. Program 571
Diversity Initiatives 50,000
Law Practice Management 17,000
CLE Direct Expense * 979,300
TOTAL EXPENSES 10,792,598
OPERATING INC/(LOSS) 111,087
Real Gain/(Loss) Sale Invst. 0
TOTAL NET INCOME/(LOSS) 111,087
* not inclusive of operational expenses.