Most of us in the broker biz pay our $225/year dues to be members of the Canadian Association of Accredited Mortgage Professionals (CAAMP).
CAAMP is a trade organization that’s dedicated to the advancement of Canada’s mortgage industry. It has advocated for its members on a variety of issues ranging from brokers’ GST exemption to last April’s new mortgage rules.
Just for thrills we poked through CAAMP’s latest 2009/2010 financials to see how it’s been spending and making money. Here are some of the highlights (all comparisons are versus the prior year):
Membership fee revenue grew 6.2%
Salaries and benefits rose 8%
22% more was spent on advertising and promotion
Last year’s national conference in Toronto brought in 15.5% less revenue than Vancouver 2008, while remaining CAAMP’s biggest expense at $1.6 million
CAAMP’s earnings (revenues beyond expenses) dropped about 28%