2018 ANNUAL REPORT TABLE OF CONTENTS A NOTE FROM FICP LEADERSHIP

We are very proud of all that FICP accomplished in 2018, and are A Focus on Growth, Value excited to continue to build upon those successes in future years to drive even greater value for our community. and Influence...... 2 Last year, our dedicated volunteers created new and enhanced opportunities for our members and hospitality partners to build Increasing Member their knowledge and network, so that their full value and impact is Participation...... 3 recognized, both by their organizations and the meetings and events industry in which we all work.

Enhancing Value...... 5 FICP’s Board of Directors, committees, event teams and task forces continued to share the resources and tools you need to advance in your careers and drive positive outcomes at your companies – both Demonstrating Industry online and at our in-person events. Leadership...... 9 At the same time, they worked on behalf of FICP to establish partnerships and collaborate with industry leaders to showcase the 2018 by the Numbers...... 11 thought leadership of its members and position you as influencers. We would like to express our sincere appreciation to every volunteer, member, hospitality partner and expert contributor who made these 2018 Financial Summary ...... 14 achievements possible, and invite you to join us as we focus on future opportunities to amplify your impact and value. Community Leaders...... 16 Regards,

Marcia Merando Wayne Robinson Steve Bova, CAE 2018 FICP Chair 2018 FICP Chair-Elect FICP Executive Director and Treasurer A FOCUS ON GROWTH, VALUE AND INFLUENCE

With its three-year strategic plan, spanning 2018-2020, FICP’s Within the new pillar of influence, FICP has broadened its scope Board of Directors re-confirmed the priorities of the organization, to position the organization and its members as industry thought and determined the objectives to best support those priorities in leaders, educators and advocates on matters that impact the the coming years. meetings and events industry. Through the leadership of a new FICP committee, and in new partnerships with leading media FICP remained focused on, and motivated by, the pillars of partners and industry associations, FICP raised awareness and growth, value and influence, with the overarching goal of being visibility of the association throughout the year. recognized as the leading organization and voice of financial and insurance meetings professionals in North America. Take another look back at FICP’s 2018 accomplishments at http://bit.ly/2018_Scorecard. In the area of growth, FICP’s objectives include not only increasing member representation from eligible Fortune 1000 and FP 500 financial services and insurance companies, but increasing engagement with meetings professional members. By doing so, FICP can maximize learning and peer idea-sharing opportunities with meetings professionals in the largest industry firms, from across North America. Ensuring that FICP both delivers the tools for meetings professionals to develop in their careers and drive positive outcomes for their companies, while educating those professionals about how to demonstrate their value within their organizations, are the drivers behind all efforts that support the value pillar of the plan. This education was delivered in multiple formats, by FICP’s Education Committee and Event Teams, and targeted to the needs of FICP’s various stakeholder groups.

WWW.FICPNET.COM 2 INCREASING MEMBER PARTICIPATION

While membership growth supports FICP’s position as an industry The “Find Your Fit” campaign promoted several new tiers of leader and strengthens its ability to demonstrate member impact, volunteer opportunities, with time commitments ranging from growth is more important for the ability to bring diversity and two hours to 17 days/year, to leverage the skillsets of more depth to its members and hospitality partners – of experiences and participants in FICP’s community, when they have the time to expertise, perspectives and solutions. These are all important for offer, for the benefit of their peers and the industry. members to grow at their companies and within the meetings and This new volunteer program, debuted at the 2018 Annual events industry. Conference, allows meetings professionals and hospitality partners to complete profiles, add themselves to the volunteer FINDING THE RIGHT FIT pool and opt-in to alerts when new opportunities arise. In addition to increasing the number of member companies in the U.S. and Canada, in 2018, FICP also sought to more fully engage Learn more or sign up to volunteer at: its members and hospitality partners year-round through a new https://www.ficpnet.com/Join/Volunteer. volunteer program and online sign-up process.

VOLUNTEER LEVELS

Leader Experienced Collaborator Individual Contributor 5-17 days/year 2-6 days/year 2 hours +/year

3 WWW.FICPNET.COM MAKING VALUABLE FIRST CONNECTIONS To ensure new members in the FICP community had a positive first experience at its larger events, FICP continued to enhance its first-time attendee activities at the Education Forum and Annual Conference. Both meetings professionals and hospitality partners I thought the reception to meet who self-identified as new to those events were assigned a peer group, led by an experienced ambassador. first-time attendees was very Groups had the opportunity to interact virtually prior to the events, and meet onsite at the First Connection networking nice and interactive. It gave me receptions. Each first-timer and ambassador received a group photo booklet with additional details on each group member the ability to meet others. Having at those receptions to facilitate introductions. Throughout the week, group members were available to help each other navigate an ambassador made me feel the event. FICP’s efforts to welcome first-timers to its Annual Conference more comfortable. were recognized last fall in Smart Meetings. Read more: http://bit.ly/SM_AC_Recap. -2018 Annual Conference first-time attendee

WWW.FICPNET.COM 4 ENHANCING VALUE

Across its event portfolio, FICP Event Teams implemented a wide The Strategic Leaders Event, hosted in Chicago in December, range of enhancements – from targeted new events to innovative quickly sold out, and attracted top leaders from more than 30 new technologies – to ensure those events met the current and member companies. The format, agenda and session topics were emerging needs of members and hospitality partners in their determined through focus groups and surveys with prospective quest to demonstrate value and impact at their organizations. attendees during the planning cycle. Those events were hosted in addition to the virtual learning The Interactive session formats included: provided within TheNetwork, TheBlog, Education Essentials and • People Management Session: Roundtable Scenarios FICP Shorts. • Functional Work Session: Solutions Marketplace ENGAGING STRATEGIC LEADERS • Demonstrating Value Session: Fishbowl In 2018, FICP developed and hosted a new peer networking and After the event, an exclusive community in TheNetwork was information-sharing opportunity for the senior-level meetings launched to allow those participants to continue their discussions professionals at member companies. for the next year.

FICP has always provided terrific educational content around events. This session was the same but ‘on steroids’ and targeted. One of the most useful and immersive sessions I’ve attended in some time.

-Eileen McDonough, Director, Head of Global Event Marketing, S&P Global

5 WWW.FICPNET.COM IMPROVING INFORMATION EXCHANGES FICP also enhanced the format of the popular Meetings Professional Exchanges to foster more discussion by more attendees on areas of interest. Education Forum and Annual Conference Participants were divided into small groups, led by a volunteer facilitator, who guided the group through a list of predetermined topics. This format enabled more participants to contribute best practices and innovative ideas, all captured in notes made available on TheNetwork within one day to all event attendees. At the symposia, participants experienced a speed-networking event, where meetings professionals met one-on-one to discuss suggested topics or other areas of interest, while getting to know each other. Post-event, participants all indicated a preference for this format.

I really enjoyed the smaller breakouts this year - I found myself participating a lot more than with a room for 200+ planners. Great idea.

-2018 Annual Conference Attendee

WWW.FICPNET.COM 6 ENHANCING VALUE (CONTINUED)

TAILORING EDUCATIONAL CONTENT PROVIDING A NEW WAY TO NETWORK... LIVE Using feedback garnered from Canadian meetings professionals, At the Annual Conference, FICP also introduced a trifecta of new FICP also revamped the format of the Canadian Seminar in opportunities for meetings professionals and hospitality partners 2018. The one-day format was introduced as a way to help local to build or strengthen relationships in new formats and venues – meetings professionals manage a busy week of events, connect and throughout the event. with peers and gain valuable education. The Meeting Zone, a new destination for appointments, was The new Canadian Seminar featured sessions led by Canadian accessible for meetings scheduled in advance through the event subject-matter experts on topics such as strategic thinking, mobile app, or impromptu discussions, each day. A new match- navigating the contracting process, and global economics. A making feature within the app helped identify attendees who networking happy hour rounded out the robust agenda. shared interests to facilitate appointment setting. The CSR teambuilding activity and networking lunch also provided less formal occasions for conference attendees to become more well acquainted in Orlando. The majority of conference attendees indicated these new networking activities provided equal or greater value as those hosted at past events.

The 2018 FICP Canadian Seminar exceeded my expectations. The content was elevated and thoughtfully presented by subject matter experts to ensure our takeaways were relevant and elevate our offering as event professionals. Thank you - truly the best industry conference in memory for me.

-Susan LoCicero, TD Wealth Events

7 WWW.FICPNET.COM From wow-ing us to education and networking (great job on the networking and forcing us to get out of our bounds - through everything from the speaker to the CSR piece). LOVED IT ALL!

-2018 Annual Conference Attendee

WWW.FICPNET.COM 8 DEMONSTRATING INDUSTRY LEADERSHIP

SHOWCASING POSITIVE IMPACT In support of FICP’s vision to demonstrate the positive impact and value of meetings and events professionals, FICP collaborated with several industry-leading organizations across the meetings and events industry to produce landmark studies. In October 2018, FICP, the Incentive Research Foundation (IRF) and the Society for Incentive Travel Excellence (SITE), released the Incentive Travel Industry Index – the first joint study of the global incentive travel industry. The five key take-aways were: budgets were up in 2018; there were more qualifiers than ever; incentives were a builder of workplace culture; there was an increase in all-inclusive destinations; and wellness continued to grow in popularity. In November 2018, the Events Industry Council (EIC) released the first-ever worldwide study of the economic significance of face- to-face business events. The report shows that business events generated $621.4 billion (US) of direct GDP and contributed a total GDP impact (global gross domestic product) of $1.5 trillion. This ranks the sector as the 14th largest in the world, ahead of GDP’s of Australia, Spain, Mexico, Indonesia and Saudi Arabia. Earlier in the year, the EIC also produced a study that illustrated the economic significance of meetings to the U.S. economy, which included $845 billion of output. As a member of the Events Industry Council, and participant in its research committee, FICP supports the creation of these Economic Significance studies.

The power of the global events industry

26 million jobs supported

in global GDP $1.5 trillion (USD)

1.5 billion participants in over 180 countries

Global Economic Significance of Business Events, © 2018, Events Industry Council

9 WWW.FICPNET.COM ACCELERATING CSR Recognizing the increasing popularity of corporate social responsibility (CSR) activities, FICP’s Annual Conference Event team added a CSR activity with a teambuilding component to the conference agenda for the first time in 2018. Teams of attendees assembled wagons full of toys and other goods for children served by three local organizations; the Boys & Girls Clubs of Central Florida, Orlando Health – Arnold Palmer Hospital for Children and United Against Poverty. Those same organizations were also chosen as the beneficiaries of FICP’s 17th Annual Silent Auction, hosted in conjunction with the Annual Conference. In 2018, the auction raised a record- breaking $90,029. The selection of these organizations is consistent with FICP’s long-standing tradition of using Silent Auction proceeds to benefit the local community that not only generously hosts its signature event, but serves as the home to many of its hospitality partners and members.

WWW.FICPNET.COM 10 2018 BY THE NUMBERS

More than 125 volunteers and the FICP staff team collaborated to support its community of nearly 1,600 meetings professionals and hospitality partners in 2018, expanding the number and quality of in-person and virtual educational and networking opportunities.

MEMBERSHIP EVENTS

717 Meetings professional members 1,262 Event attendees 216 Financial services and insurance companies represented

131 New meetings professional members 62 Education sessions across 870 Hospitality partners 6 Events

ATTENDEE FEEDBACK HIGHLIGHTS

99% 98% 91% 88%

of Education Forum of Annual Conference of attendees rated the Winter of Strategic Leaders Event attendees would recommend attendees would and Fall Symposia and attendees were extremely the event to a colleague recommend the event to a Canadian Seminar events as likely to recommend the event colleague very good or good overall to a friend or colleague

In 2018,12 FICP Shorts, quick-hit educational videos from popular presenters, were added to the FICP YouTube channel to facilitate additional member learning from anywhere, at any time.

11 WWW.FICPNET.COM OVERALL EVENT RATINGS (ON A FIVE-POINT SCALE)

● Winter Symposium ● Canadian Seminar* ● Fall Symposium ● Annual Conference ● Education Forum

5 4 3 2 1 0 2016 2017 2018

*For 2016-2017, Summer Symposium ratings

WWW.FICPNET.COM 12 2018 BY THE NUMBERS (CONTINUED)

COMMUNITY ACTIVITY THENETWORK: What were we talking about? 1,772 Facebook likes Conference facilities in Europe 574 Linkedin followers DMCs recommendations in Mexico and Monaco The benefits of FICP membership 1,689 Twitter followers Using frequent-flyer miles New photos added to Flickr 2,259 Teambuilding ideas for senior managers

1,041 App users between two events GDRP compliance Promotional item companies 134 New conversation threads in TheNetwork – And, 14 new members participated in the more than twice the number in 2017! “Introduce Yourself” thread 193 New documents uploaded to TheNetwork library across 15 libraries

1,208 Unique logins

4,667 Document views and

3,843 Document downloads

76% of all FICP members and HPs active on TheNetwork

35+ posts on TheBlog

1 FICP/Smart Meetings webinar with

180+ registrants

13 WWW.FICPNET.COM 2018 FINANCIAL SUMMARY

In 2018, FICP exceeded budgeted financial expectations in every functional area except the one area in which it had no control: investment performance. The very conservative investment portfolio declined due to a poor 4th quarter, but rebounded in the 1st quarter of 2019. The association’s face-to-face events drove performance, with the Annual Conference continuing as the “bread and butter” event. Following is a high-level financial summary for the year ended December 31, 2018:

STATEMENTS OF FINANCIAL POSITION (BALANCE SHEET) BALANCE SHEET

12/31/2018 12/31/2017 As of December 31, 2018, FICP had total assets of $5.2 million, liabilities of just under $1 million and a net worth (unrestricted net assets) of Audited Audited slightly more than $4.2 million. The balance sheet shows comparative ASSETS information for the same time the previous year. FICP’s assets grew by $426,281 over 2017, and liabilities were slightly higher in 2018, by Cash & Cash Equivalents 1,195,337 1,912,940 $66,767, primarily due to accounts that remained payable for the Annual Investments 2,747,660 2,571,335 Conference. Unrestricted net assets increased $359,154 from 2017 to 2018, or 9.3 percent. There were no restricted assets. Certificates of Deposit 1,173,580 247,845 During 2018, the Board of Directors authorized the purchase of a series Accounts Receivable 1,320 - of laddered certificates of deposit (CDs) in order to diversify its liquid Prepaid Expenses 106,501 64,651 cash holdings into several FDIC-insured accounts. The association also made a contribution to its long-term investments in 2018. Ensuring Accrued Interest 5,962 975 solid reserves puts FICP into the favorable position of being able to take Website Development Costs, Net 11,611 17,944 advantage of opportunities as they arise. Total Assets 5,241,971 4,815,690 Accounts payable generally represent Annual Conference expenses that were being reconciled at the end of the year. Deferred revenue represents dues and hospitality partner fees paid in 2018 for services to LIABILITIES AND NET ASSETS be performed in 2019, as well as some Strategic Partnership and Winter Symposium revenue received in 2018 for 2019 activities. Liabilities Accounts Payable 692,843 609,508 INCOME STATEMENT Deferred Revenue 305,630 322,198 FICP’s 2018 revenues were just under $4.8 million and expenses were $4.4 million. There was a surplus of $359,154. A new practice Total Liabilities 998,473 931,706 was required in 2018 to report expenses by function and break out administrative and general expenses. Reporting in this manner makes FICP compliant with Generally Accepted Accounting Standards (GAAP) in Unrestricted Net Assets 4,243,498 3,883,984 the United States. FICP’s revenues and expenses represent $577 thousand of in-kind Total Liabilities and Net Assets 5,241,971 4,815,690 services. This indicates the value of benefits received in exchange for sponsorship recognition; there were no funds exchanged for these services. FICP recognizes the value of these in-kind services in an amount the association would have paid for similar activities had they not been provided as part of the sponsorship program. For questions, please contact FICP Executive Director Steve Bova or Wayne Robinson, 2018 Chair-Elect and Treasurer.

WWW.FICPNET.COM 14 2018 FINANCIAL SUMMARY (CONTINUED)

STATEMENTS OF ACTIVITIES (INCOME STATEMENT) HERE’S THE STORY FOR 2018 12/31/2018 12/31/2017 Meetings professional dues and hospitality partner fees were slightly lower Audited Audited in 2018 than in 2017. Annual Conference revenue grew slightly, as did its expenses. Education Forum revenues also grew slightly but expenses were REVENUE significantly lower in 2018 than in 2017. This can be attributed to holding the  Annual Conference 3,107,745 3,080,031 meeting in Vancouver. Silent Auction activity is included under the Annual Conference. The program breaks even each year.  Education Forum 680,600 662,440 Symposia represents four events: The Winter and Fall Symposia, Canadian  Symposia 409,504 407,486 Seminar and Strategic Leaders Event, which was a new offering in 2018. The  Strategic Partnership 87,169 80,750 Strategic Partnership program is a package that includes participation in the Annual Conference, Education Forum and year-long recognition.  Interest and Dividends 97,027 68,663 Another new reporting requirement in 2018 is to split interest and dividends  Realized/Unrealized gains (losses) (192,145) 193,478 earned from realized and unrealized gains (losses). While the interest and  Governance 32,480 39,167 dividends performed better in 2018 than in 2017, there was a significant swing in investment performance from 2017 to 2018. These occurred in the  Advertising 70,679 58,100 long-term investment portfolio.  Membership Dues 150,805 148,695 The final two revenue areas are governance and advertising. In 2017 and  Hospitality Partner Fees 313,541 338,420 2018, the board of directors sometimes benefitted from hosted meetings, which FICP recognizes as part of its in-kind activity. Advertising is derived Total Revenue 4,757,405 5,077,230 from the printed Directory, Photo Directory and web site banner ads. Included in administrative and general expenses are non-program specific professional fees including staff, accounting; administration of the technology 12/31/2018 12/31/2017 and communications expenses, including the web site, TheNetwork, social Audited Audited media and overall community management efforts to serve the FICP constituency; industry advocacy, research including the Incentive Travel EXPENSES Industry Index, and membership recruitment and retention efforts, as well as Program Services credit card fees, postage, printing, telephone and storage costs.  Annual Conference 2,165,746 2,090,522 The 2018 financial audit was completed by Desmond & Ahern, Ltd., an independent accounting firm retained by the FICP Board of Directors. FICP  Education Forum 532,931 593,526 achieved the highest opinion a CPA firm can give – an unmodified opinion  Symposia 347,584 361,249 that the financial statements presented fairly, in all material respects, the financial position of the association as of December 31, 2018 and 2017.No  Member Services 296,343 367,887 changes were made to the statements as a result of the firm’s review. Total Program Services 3,342,604 3,413,184 2018 Revenue 2018 Expenses  Management & General 1,055,287 1,063,591 Total Expenses 4,397,891 4,476,775

NET INCOME/(LOSS) 359,514 600,455

15 WWW.FICPNET.COM COMMUNITY LEADERS

BOARD OF DIRECTORS Marcia Merando, LLIF, FLMI, LUTCF, Erin Longo, CMP Frankenmuth Insurance Prudential Chair

Wayne Robinson, CMP, CMM Lynn Schwandt, CMP FM Global Thrivent Financial Chair-Elect and Treasurer

Joseph Scully Katie Senkowski, CMP John Hancock Financial Services AIG Past Chair

Michael Burke, CMP Steve Bova, CAE The Hanover Insurance Group Financial & Insurance Conference Professionals Executive Director

Allison Cooper LPL Financial

Sherri Lindenberg Crump

WWW.FICPNET.COM 16 COMMUNITY LEADERS (CONTINUED)

HOSPITALITY PARTNER ADVISORY COMMITTEE (HPAC) Martin Johnston Lynn Lee Sterena Strickland Montage International PRA ACCESS Destination Services Chair

Katina Athanasiou David Riederman Carolee Weinstein Regent Seven Seas Cruises & Corporation Omni Hotels & Resorts Oceania Cruises

Michael Dominguez MGM Resorts International

STRATEGIC PARTNERS

ACCESS Destination Services JPdL Destination Management Canada AZA Events, Inc. Las Vegas Convention and Visitors Buy the Sea Authority Disney Destinations Miami Air International DMC Network Monaco Government Tourist Office Fiesta Americana Hotels & Resorts & Preferred Hotels & Resorts Live Aqua Hotels & Resorts Regent Seven Seas Cruises, Oceania Global DMC Partners Cruises, Norwegian Cruise Line Greater Miami Convention & Visitors Silversea Cruises, Ltd. Bureau The Broadmoor Island Partners Hawai’i Visit Newport Beach

17 WWW.FICPNET.COM MEMBERSHIP COMMITTEE Steve Bova, CAE, Financial & Insurance Karen Eminian, Conference Professionals, Executive Director Joe Schmelz, Wolfgang Films Katie Senkowski, AIG, Chair Goro Abe, AB SYMPOSIA EVENT TEAM SILENT AUCTION SUBCOMMITTEE JJ Barlow, The Coeur d’Alene Golf and Spa Lynn Schwandt, Thrivent Financial, Chair Lynn Lee, PRA, Chair Resort Alyssa Cackler, Nationwide Insurance Carolee Weinstein, Omni Hotels & Resorts, Heidi Bianchi, Silicon Valley Bank Debbie Murray, Prudential Chair Michaela Foley, Palace Resorts and Le Blanc Barb Orvis, Voya Financial Susann Behrendt, Amstar DMC Mexico Spa Resorts Carolee Weinstein, Omni Hotels & Resorts, Colleen Brzozowski, KSL Resorts Tom Foley, Atlantis, Paradise Island HPAC Rep Kathryn Carlton, Grand Wailea, A Waldorf Sarah Hall, Innovative Captive Strategies Astoria Resort Lisa Hess, Cantrav Services CANADIAN SEMINAR EVENT TEAM Andrea Dodson, del Coronado Kelley Howard, ACCESS Destination Services, Lynn Schwandt, Thrivent Financial, Chair Joe Fijol, 360 Destination Group Palm Springs Susannah Frances, Sun Life Mary Geong, Rocco Forte Hotels Anna Kirshenbaum, Mutual of Omaha Insurance Kelly Porter, Manulife Katy Gettinger Eagen, Preferred Hotels & Company Laura Rodrigues, RBC Insurance Resorts Sonia Maldonado, General Reinsurance Corp. Steve Hunt, Hyatt Resorts and Spas in Hawaii STRATEGIC LEADERS EVENT David Riederman, Hyatt Hotels Corporation, Patty Kindness, PRA Las Vegas TASK FORCE HPAC Rep Kathy Kozminske, Associated Luxury Hotels Gina Rodigou, DMC Network Michael Burke, CMP, The Hanover Insurance International Ramon Santos, Silversea Cruises Group, Chair Melissa La Rue, Prudential Kelli Livers, Global Atlantic EDUCATION COMMITTEE Christine MacDonald, Fairmont Le Chateau Debbie Moran, Prudential Frontenac Erin Longo, CMP, Prudential, Chair Jana Stern, Voya Financial Donna Marchese, Sonesta Hotels International Allison Cooper, LPL Financial, Vice Chair Kerry McMahon, AIC Hotel Group Angel Tassone, Hyatt Hotels Corporation EDUCATION FORUM EVENT TEAM Angela Pagonis, Destinations by Design Ann Luketic, CMP, Progressive Michael Burke, CMP, The Hanover Insurance Dan Polulak, Miami Air International Barbara Scofidio, Prevue Group, Chair Carlin Putman, Global Atlantic Chelsea Eaton, Morgan Stanley Tavar James, AXA Equitable Maria Rapondjieva, Fairmont Queen Elizabeth Crystal Neubauer, CPLP, Cambridge Investment Laura Lepel, Symetra Hotel Research, Inc. Sterena Strickland, ACCESS Destination Kim Sky, CNA Erika Wien, Manulife Services, HPAC Rep Robyn Sprenger, MGM Resorts International Heather Calabrese, Aetna Michael Parsons, JW Marriott Vancouver Sterena Strickland, ACCESS DMC Lynn Lee, PRA, HPAC Rep ANNUAL CONFERENCE EVENT TEAM Angel Tassone, Hyatt Regency Huntington Patricia Beaudoux, Sands Asia Joseph Scully, John Hancock Financial Services, Beach Susan Wylie, CMP, CMM, MassMutual Financial Chair Annie Thalman, Washington Speakers Bureau Group Shelia Cleary, National Life Group Sonya Thayer, Andaz Maui at Wailea Resort GOVERNANCE COMMITTEE Jennifer Squeglia, Boston Private Stephen Wheeler, Metting Tomorrow Wayne Robinson, CMM, CMP, FM Global, Chair Martin Johnston, Montage International, Marcia Merando LLIF, FLMI, LUTCF, HPAC Rep Frankenmuth Insurance Jayne Bennett, JW Marriott Orlando Grande Joseph Scully, John Hancock Financial Services Lakes

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