11/26/2024

President's Letter

It was great to see so many of you at the Summit in Coronado, CA this year. The conference was packed with great speakers discussing best practices and industry technology. As always, the events were fun and engaging and provided opportunities to connect with friends and peers in the industry.

At the Meeting of the Members, we presented a picture of optimism for the future. FPDA is creating value for our members through education, industry benchmarking, economic updates, our Future Leaders in Motion program, and an action-packed conference. At the same time, we laid out the challenges to our long-term sustainability. Acquisitions and mergers in the industry have consolidated industry companies, resulting in a loss of approximately 40 company members and a decrease in dues revenue since 2021. FPDA has operated at a deficit for 6 of the 7 last years.

We have laid out a plan to right-size our expenses. The first change was partnering with a new association management company, Etherio.  We are saving costs in management fees, and Etherio is on board to help with the turnaround. We will not reduce content or value for our members. In contrast, the board is actively working to provide even more value to the membership.

The second half of the equation is the increase in membership dues, which was presented at the Industry Summit.  We have worked with Etherio to rethink our dues structure and better align with other industry organizations. This year, companies will see an increase, but we have also eliminated the branch fee. 

Additionally, this year we have created a new FPDA IMPACT Fund which provides companies with an opportunity to contribute to FPDA’s overall success through voluntary sponsorship. FPDA sponsorships are a great way to support the association while creating visibility and recognition for your company.  Our IMPACT Fund supporters will be recognized on the website, in the newsletter, and at the Industry Summit. Please consider contributing to the long-term sustainability of the association this year.

The board agrees that these changes will reset the financial viability of FPDA for the long-term. The FPDA board is determined to provide the valuable content that makes your membership worthwhile.  Etherio has shared that FPDA is the most engaged (and fun) association that they manage. Let’s keep this going. Please renew your membership and submit your dues promptly when you receive your invoices in the coming weeks. 

And finally, be sure to mark your calendars for October 6-8, 2025, to join us in Greenville, South Carolina, for the 2025 Industry Summit to get the full benefit of your membership.

Sincerely,

Tom Nicholson

2024-2025 FPDA President