Income was £4,050,939 (2013: £4,053,258) in the year to 31 December. Membership numbers rose from 10,401 at the start of the year to 11,125 at the end.
In its financial report for 2014, the CIPR said a more accurate basis for determining deferred subscriptions was adopted, with the one-off effect of reducing membership subscription income by £90,000 in the year.
The organisation said income from training and qualifications rose in 2014. "The decision to reduce conference and seminar activity had a marginal downward effect on income in this area, although CIPR Awards performed well," it said.
The CIPR’s retained surplus for the year was £17,652 (2013: £189,774), taking its total reserves to £886,051, up from £868,399 at the end of 2013.
Last year saw a general restructure of the organisation, including the closure of its commercial activities department and reducing staff headcount from 39 to 32. Other changes included expanding its finance committee, altering how group finances are reported, and introducing new financial management technology.
During the year, CIPR established a dilapidations fund to pay for the move from its current premises and into a new building at the end of 2018.
Stephen Waddington, CIPR president 2014 and chief engagement officer at Ketchum, said: "In 2014, the CIPR had a back-to-basics focus on its vision and purpose, returning the organisation to its roots of professionalism as set out in our Royal Charter. We sought to align the organisation firmly with this vision in 2014 through changes to governance, operational activity, campaigning and thought leadership. This focus and sense of purpose has been helpful in defining priorities.
"The end result is a clear value proposition to members, whatever the stage of their career. If 2014 was a year of modernisation, 2015 must continue and consolidate this agenda."
The financial report added: "The general business environment at the start of 2015 is somewhat more uncertain than a year ago, with a higher risk than previously of negative business impacts arising from a new financial crisis. However at the end of 2014 the Institute has greater reserves and higher resilience than it has enjoyed for a number of years."