2009/2010 CAAMP Financials

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%
• Its assets rose 9.7% to $4.3 million