Davis: Code Council continues to grow and thrive

Looking back on a year of solid financial growth and success during 2019, International Code Council Board Vice President Cindy Davis, CBO, told Annual Business Meeting attendees that the association is well-positioned to maintain a stable economic environment for its members, employees and other stakeholders throughout 2020 as she presented the annual Treasurer’s Report. “Financial stability is the foundation of a healthy, productive association,” said Davis while giving the annual report. “Because of our strong financials, we can continue to provide the exceptional products and services our members and customers have come to expect.”

“At the core of every decision we make is our mission to provide the highest quality products and services for all concerned with the built environment,” said Davis. “Your Board of Directors is committed to this mission and our membership. We know that sustaining our financial success in the months and years to come is integral to the health of our association.”

Below are Davis’s full remarks during the Annual Business Meeting on Oct. 21, 2019, in Las Vegas, Nev.

As your Secretary and Treasurer, I am happy to report that the financial health of the International Code Council is strong. The association has continued to grow and thrive due to consistent financial management, a focus on long-term strategic planning, and a well-thought-out diversification strategy.

Over the past few years, our financial performance has exceeded expectations. This year is no exception.

In 2019, we expect revenue from the sale of goods and services to again surpass our budget revenue and operating profit targets. This continued financial success has allowed us to enhance member benefits, build our cash reserves, grow our staff and maintain our unique code development process.

One of our key financial strategies — diversification — helps to spread risk, reduce volatility, and create stability and predictability. After a long process of due diligence, the Board approved two acquisitions this year – NTA and Coded Systems. These two companies expand the Code Council’s offerings into new areas and markets.

Financial stability is the foundation of a healthy, productive association. Because of our strong financials, we can continue to provide the exceptional products and services our members and customers have come to expect.

This year we’ve been able to support the next generation of building safety professionals through public education campaigns and by revamping the technical training program website and training resources. We’ve also expanded the Emerging Leaders Membership Council and created a career path webpage.

We have established a customer service initiative and enhanced our testing, training, and technical services to better serve you.

We have promoted the importance of building safety in our communities and encouraged the adoption and enforcement of modern codes worldwide.

We have invested more than $3 million in technology and digitization to ensure the Code Council remains a leader in innovation for the future.

At the core of every decision we make is our mission to provide the highest quality products and services for all concerned with the built environment. Your Board of Directors is committed to this mission and our membership. We know that sustaining our financial success in the months and years to come is integral to the health of our association.

There will be challenges ahead. The economic forecasts for the next year are mixed. Threats on our Intellectual Property continue. Our association is well-positioned to maintain a stable environment for our members, employees, and other stakeholders throughout 2020. With an emphasis on the future, the new Vision 2025 strategic plan will take us beyond.