A Frank Talk About Finances


This blog gives me the opportunity to address some important issues that really are a bit too complex to discuss in our semi-annual meetings.  Specifically I want to talk about how the KSOMS funds itself.  Not the most exciting subject but surely an important one for our survival.   So let’s just entitle this KSOMS Finances 101!

Annual dues are 275.00 per year.

The question becomes where do we get the rest of the revenue to operate yearly.  The answer very simply is VENDORS.  I refer to this as “soft” money, that is money that can vary from year to year.  We charge $500 per meeting per vendor for which a vendor receives a skirted table AND access to attendees.  We do everything we can to be vendor friendly—e.g., introducing vendors at the start of the day giving them the opportunity to make a very brief presentation about their company and products;  having a drawing for members who have visited each vendor’s table – winner gets a brand new iPad.   

We are also introducing a Patrons’ Program.  This has taken a year to develop, but our goal is encourage interested parties—e.g., vendors, businesses with administrative services, etc.—to become a KSOMS Patron.  The goal is to raise revenue.  Before the new site we had little to offer patrons in the way of visibility.  This program costs each patron $1,000 a year.  As I write this we have three Patrons – KLS Martin, VanZandt, Emrich & Cary, Dental Card Services.  If you visit Member Section on the KSOMS website (www.kysocietyoms.org), you will see each patron’s banner.  AND if you tap on the banner, it will take you straight away to the patron’s website.  

The KSOMS Board also controls money flow by watching all expenses.  For example, the new website means we communicate electronically rather than by snail mail.  That’s not only a savings but it is also fast and environmentally friendly.  So administratively we are doing all we can.

What can you do you ask???  Very simply and directly use the products and services of our vendors and patrons.