Expenses were broken down into programs of research, education, and bridging the academic and practitioner communities (82%), fundraising (6%), and management and general expenses (12%). A full audit is available online.
“We had carefully built up our reserves for a rainy day, and it did begin storming for us toward the end of 2008,” said Frank Ovaitt, president and CEO of the Institute, in a statement. “We have adjusted our 2009 budget to minimize further impact on our reserves while bringing ever more practitioners to the science beneath the art of public relations.”
The Institute recently selected Robert Grupp as its new president. He begins this summer.