Society of Women Engineers Annual Financial Report

Fiscal Year 2022-2023

Executive Summary

The Society of Women Engineers (SWE) has demonstrated significant financial strength during fiscal year 2022-2023, achieving solid growth while expanding programs and services for our members. This report provides a comprehensive overview of the organization's financial performance, highlighting our commitment to fiscal responsibility and mission advancement.

            Key Financial Highlights            Total Revenue: $8.7 million (12% increase from previous year)
Total Expenses: $8.2 million (8% increase from previous year)
Net Income: $500,000
Operating Reserve: $3.2 million (representing approximately 18% of annual expenses)
Total Assets: $8.9 million
Total Liabilities: $2.1 million
        

Revenue Sources

SWE's diversified revenue streams continue to provide financial stability and support for organizational growth. The 12% increase in total revenue reflects the effectiveness of our development strategies and the growing value members find in our offerings.

Revenue Source	Amount ($)	Percentage of Total	Year-over-Year Change
Membership Dues	2,600,000	30%	+8%
Corporate Partnerships	2,100,000	24%	+15%
Event Registration	1,500,000	17%	+10%
Grants and Foundation Support	1,000,000	11%	+12%
Merchandise and Publications	800,000	9%	+5%
Investment Income	400,000	5%	+18%
Other Income	300,000	4%	+7%
Total	8,700,000	100%	+12%

Expense Breakdown

SWE's expenditures reflect our strategic commitment to programs, member services, and operational excellence. The 8% increase in expenses was planned and directly correlated with program expansion and enhanced member services.

Expense Category	Amount ($)	Percentage of Total	Year-over-Year Change
Program Operations	2,700,000	33%	+12%
Events and Conferences	2,100,000	26%	+10%
Staffing	1,500,000	18%	+6%
Administration	800,000	10%	+5%
Marketing and Communications	600,000	7%	+9%
Membership Services	300,000	4%	+8%
Other Expenses	200,000	2%	+3%
Total	8,200,000	100%	+8%

Membership Statistics

SWE's continued membership growth demonstrates the increasing value women engineers find in our community and resources. The 15% growth rate exceeded our strategic goals and positions the organization for sustained impact.

        Membership Data        Total Membership: 42,500 (15% increase from previous year)
Professional Members: 25,200
Collegiate Members: 15,800
Student Members: 1,500
New Members: 6,800
Renewal Rate: 78%
Active Sections: 350
Active Student Sections: 300
    

Programs and Initiatives

SWE continued to strategically expand programs that deliver value to members and advance our mission of empowering women to succeed and advance in engineering fields. Program investments aligned with our strategic priorities and member needs.

Major Program Achievements

Enhanced Webinar Series: 78 professional development webinars (24% increase) reaching 12,500 participants
Leadership Development: 2 new leadership tracks added, serving 450 participants
Diversity & Inclusion Programs: 3 new initiatives launched, increasing participation by 40%
Youth Outreach: Expanded to reach 20,000 K-12 students through 250 events
Scholarships: Distributed $800,000 in scholarships to 200 recipients
Awards & Recognition: 27 different award categories, recognizing 150 outstanding engineers

Financial Position

SWE maintains a strong financial foundation with healthy reserves and minimal debt. Our balance sheet growth reflects organizational maturity and strategic asset management.

Financial Metric	Amount ($)	Year-over-Year Change
Total Assets	8,900,000	+10%
Current Assets	5,800,000	+8%
Fixed Assets	2,200,000	+12%
Other Assets	900,000	+15%
Total Liabilities	2,100,000	+5%
Current Liabilities	1,700,000	+4%
Long-term Liabilities	400,000	+9%
Net Assets	6,800,000	+12%

Future Financial Outlook

SWE's financial outlook remains positive, with plans for continued growth while maintaining fiscal responsibility. Our projections balance ambition with prudent financial management.

Fiscal Year 2023-2024 Projections

Projected Revenue: $9.4 million (8% growth)
Projected Expenses: $8.9 million (8% growth)
Projected Net Income: $500,000
Planned Reserve Increase: $200,000 to maintain 18% coverage of expenses
Major Investment Areas: Digital platform enhancement, youth outreach expansion, leadership programming

        Financial Priorities and Strategic Goals        Maintain operating reserve at minimum 18% of annual operating expenses
Expand revenue diversity through new corporate partnerships and grant opportunities
Strategically invest in digital capabilities to enhance member experience and operational efficiency
Increase scholarship funding by 15% through targeted fundraising efforts
Develop sustainable funding models for new program initiatives
Implement financial systems to improve reporting transparency and operational insight
    

Conclusion

The Society of Women Engineers continues to maintain excellent financial health while expanding programs and services that support our mission. Through prudent fiscal management and strategic investment in our core offerings, SWE is well-positioned to continue growing its impact on women in engineering.

Our financial results reflect both the increasing demand for SWE resources and the effectiveness of our operational strategies. With a healthy surplus, strong reserves, and diversified revenue sources, the organization is prepared to navigate challenges and capitalize on opportunities in the coming year.

I extend my appreciation to all members, volunteers, corporate partners, and donors whose support makes our work possible. Your continued investment in SWE enables us to empower women engineers to achieve their full potential and to inspire the next generation of engineering talent.

Reference Files For SWE Annual Financial Report

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