Financial Forecast for Conference
Income Statement Example
Financial Forcase for Conference Income Statement Example
Year 1 Year 2 Year 3
Revenue
Conference Fees $17,600 $19,800 $22,000
Booth Sponsorships $2,000 $2,500 $3,000
General Sponsorships $1,000 $1,000 $1,000
Total Revenue $20,600 $23,300 $26,000
Expenses
Start-up Costs
Start-up Costs Total $0 $0 $0
Direct Costs
Salaries & Benefits $7,125 $7,481 $7,855
Plenary Speakers $5,000 $5,000 $5,000
Plenary Speakers Travel $3,000 $3,000 $3,000
Supplies $300 $300 $300
Food $2,560 $3,024 $3,528
Marketing and Registration
Website $1,000 $1,000 $1,000
A/V Equipment $0 $0 $0
Conference Space $0 $0 $0
Direct Costs Total $18,985 $19,805 $20,683
Indirect Costs
Rent for Office $300 $315 $331
IT Support $300 $315 $331
Website $30 $32 $33
Accounting $300 $315 $331
Webinar Software $36 $38 $40
Indirect Costs Total $966 $1,014 $1,065
Total Expenses $19,951 $20,820 $21,748
Net Income $649 $2,480 $4,252
Conference Revenue
Revenue
Non
Member Member Total Member Non Member
Attendees Attendees Attendees Fee Fee Revenue
Conference Fees 48 32 80 $200 $250 $17,600
Year 2 54 36 90 $200 $250 $19,800
Year 3 60 40 100 $200 $250 $22,000
Booths Fee
Booth Sponsorships 4 $500 $2,000
Year 2 5 $500 $2,500
Year 3 6 $500 $3,000
General Sponsorships 1 $1,000 $1,000
Year 2 1 $1,000 $1,000
Year 3 1 $1,000 $1,000
Year 2 Year 3
Year 1 Total Total Total
$20,600 $23,300 $26,000
Conference Startup Costs
Startup Costs
A/V Projector--This could be a startup cost, but the members are providing the A/V for the conference.
Direct Costs
Monthly Yearly
Worked Worked Yearly
Staff Salaries Hours Hours Wage Expenses Year 2 Year 3
Employee 1 20 240.00 $15.00 $3,600
Employee 2 5 60.00 $35.00 $2,100
Employee 3 0.00 $25.00 $0
Employee 4 0.00 $30.00 $0
Employee 5 0.00 $35.00 $0
Total Salaries $5,700 $5,985 $6,284
Benefits (25%) 0.25 $1,425 $1,496 $1,571
Total Salaries and Benefits $7,125 $7,481 $7,855
Expenses Plenary Speakers $5,000 $5,000 $5,000
Plenary Speaker Travel $3,000 $3,000 $3,000
Supplies $300 $300 $300
Food (Breakfast, Buffet Lunch, Snack and Drinks) $2,560 $3,024 $3,528
Marketing and Registration Website $1,000 $1,000 $1,000
A/V Equipment--Provided by Members
Conference Space--Provided by Members
Total Direct Cost Expenses $18,985 $19,805 $20,683
Indirect Costs
5 Percent
Monthly Annual Allocation Costs
Rent for Office 500 6000 0.05 $300 $315 $331
IT Support 500 6000 0.05 $300 $315 $331
Website 50 600 0.05 $30 $32 $33
Accounting 500 6000 0.05 $300 $315 $331
Webinar Software 60 720 0.05 $36 $38 $40
Total Indirect Cost Expenses $966 $1,014 $1,065
1.05 Assumes 5% increase each year
Assumes 5% increase each year for food
Food Attendees Brkfst Lunch Snack Total Food
80 $10 $15 $7 $2,560
90 $11 $16 $7 $3,024
100 $11 $17 $8 $3,528
1.05 Assumes 5% increase each year
Glossary
Break-Even Point: This is point at which revenue and expenses (or costs) are equal and there is no
net loss nor net gain. A product or service has reached the break-even point when it has enough
revenue to cover total costs.
Capital Equipment: Items of considerable value and durability that are used to provide a service
or to make, market, keep or transport products. For example, U.S. accounting rules consider
capital equipment that costs more than $5,000 and has an extended lifetime of over one year to be a
fixed asset of a business.
Direct Costs: are the costs needed to produce or deliver a product or service such as, equipment
fees, service subscriptions and inventory replacement. Examples of direct costs include payroll,
fuel, travel, etc. They are often recurring costs, that exists as costs that are repeated with each
delivery or production of the product or service.
Indirect Costs: (also called "Overhead or Administrative Expenses") are typically expenses related
to general administration of the project or organization. For example accounting services, board
expenses, insurance premiums, office space rent, utilities, supplies and technology.
Net Income: Net income is equal to total revenue minus total expenses. The net income of a
product or service illustrates the financial outlook of a product or service and in most cases
excludes start-up costs.
Operating Costs: are the expenses which are related to the operation of a business. They are the
cost of resources used by an organization just to maintain its existence. Operational costs include
both direct and indirect costs.
Pro Forma: Financial forecast based on assumptions or decisions that influence the financial
outlook of a product or service.
Revenue: The funds generated from sale of goods or services associated with the main operations
of an organization before any costs or expenses are deducted.
Startup Costs: Startup costs include onetime costs that are incurred during the development of
your product or service. This may include capital equipment, software purchase, legal fees,
consulting fees and so forth. These costs are sometimes called research and development costs
(R&D).
