NEW YORK: The Public Relations Society of America increased its total revenue 1% last year, according to a statement issued Wednesday. The industry organization recorded revenue of $9.3 million for 2003 and said its net assets increased 17% for the year, to $2.1 million. It's the third straight year the PRSA has enjoyed financial growth, according to CFO John Colletti - the first time that's happened since at least the 1980s.
"It's certainly the largest three years of growth," noted Colletti.
Greater membership options and increased participation in seminars spurred the financial gains, according to Cedric Bess, PR manager for the PRSA. Income from membership jumped 4% during 2003, while revenue from seminar participation increased 21%.
The addition of two new professional sections during 2003 - the Independent Practitioners Alliance and Strategic Social Responsibility - helped increase membership and participation, Bess said.
The PRSA has nearly 20,000 members across 116 chapters.