More than £500,000 of the debt is due to one-off property costs relating to the CIPR's move from its St James's Square offices earlier this year.
The move was forced when the landlord applied for planning permission to redevelop the property as his private house. The CIPR was then served notice to quit.
The remainder of the loss is the result of a downturn in trading income in the last quarter because of the recession.
The executive board met last week and agreed a programme of immediate cost savings, along with a three-year strategy that focuses on the needs of the CIPR membership and the profession.
‘Our cash flow position remains positive, and we are committed to turn round the finances in the next year,' said CIPR President Kevin Taylor.
‘We believe our new base at Russell Square, with its improved training, conference and office facilities, will help in that turnaround. Services to our members will remain our priority.'