November 20, 2009
Dear AAJA friends,
There's no doubt that 2009 has been one of the most challenging years we have ever faced. The economic reset and changes that are sweeping our industry have had a major impact on all of us, and AAJA was certainly no exception.
Our traditional media supporters are struggling to stay in business and, in some cases, have shut down. Some of you have lost your jobs because of cuts sweeping the industry, making it difficult to attend the national convention -- which historically made up half of our cash flow -- or even to renew your membership.
AAJA has a long history of fiscal prudence, balanced budgets and spending only what we have. We have cut $200,000 in expenses since Jan. 1, renegotiated both our 2009 and 2010 national convention contracts, and reduced our small staff by 2.5 positions through attrition. But we have reached a point at which we cannot cut more deeply and maintain our commitments to our funders, scholarships, internships, and programs that serve you.
At the end of 2009 we expect to face a $177,000 deficit. As a result, the Governing Board has taken two emergency steps:
- We are suspending the chapters' share of membership dues for 2009. In 2010, chapters will receive member dues shares only if a member is new or is upgrading, such as from a Full to a Gold or Platinum membership.
- We have passed an aggressive budget to place AAJA on strong footing in 2010. To cover our cash shortfall this year, we have borrowed from our national endowment principal. By the end of 2009, we expect to borrow $167,000. This is not how AAJA envisioned the endowment would be used. The endowment was established to be invested so AAJA could use the investment proceeds to fund programs, scholarships and internships. We have set up a fundraising plan to pay the $167,000 back in 2010. We will be reaching out to all our major endowment donors individually to let them know this is happening and address their concerns. The Governing Board has also approved opening a line of credit to prevent us from having to borrow from the endowment again.
These are painful steps, both for our chapters that rely on membership dues and for our endowment donors and fundraisers, and we thank you for sticking with us through this. Our 2010 budget goal is to sustain all our programs and repay the national endowment.
I am forming a Development Committee to fundraise for 2010 and to form a development plan for this new journalism landscape. I want to thank former National Presidents Mae Cheng and Esther Wu, and our recent Leadership in Diversity winner Jeannie Park for stepping up to serve on this committee.
We believe AAJA's mission of encouraging Asian Americans to enter the ranks of journalism and ensuring fair and accurate coverage of our community has never been more important. We are not considering closing our doors. Diversity remains the answer to a relevant and vibrant news media and to the journalism it practices. We believe that you and all future Asian American journalists need AAJA now more than ever, and the 680 people who participated in our national convention in Boston this year proved it.
In this year's President's Address at the convention gala in Boston, I asked you all to reach out and lean in. I am reaching out to ask you again.
Here are three ways you can help AAJA:
- Renew your membership for 2010 now, and consider upgrading your membership to Gold or our new Platinum status, which includes your registration for our 2010 national convention. Click here to renew.
- Give to AAJA's Power of One campaign. Thank you to all the donors who have already given and helped us raise $35,000 this year. A great way to support AAJA is by setting up a monthly gift. Give here.
- Come to our national convention in Hollywood on Aug. 4-7, 2010. Get the most innovative training, connect with your AAJA family and support one another.
We at AAJA are exhilarated by the huge opportunities in front of us. We have nowhere to go but up. Thank you for your support.
In unity,
Sharon Chan
AAJA National President