2023 Treasurer’s Report

In FY23 we saw steady growth of our membership and more enthusiasm and support for our flagship events – our Awards and Forum. We were also able to have some dedicated support to help our members and do some more advocacy work.

Our income was $197K compared to $163K last year.

Proptech memberships accounted for 

• $65K, steady from last year

• Associates for $14K, a 100% increase from last year

As at 30 June 23,  the Awards event had generated $43K of income from tickets, and sponsors, whilst more revenue –   $51K was banked in July this year ( as the Awards were in July) which will show up in the FY24 accounts.

Of course our expenses increased in step this year to $164K compared to $91K last year.

Event expenses were $69K, Admin/marketing/operational and customer management expenses were $76K as we hired a dedicated resource.

Our net profit was $33K compared to $72K last year. Despite the rise in revenue, our expenses have risen disproportionately. 

There is a reason for this – our Board and committee members consist entirely of volunteers who have given countless hours and still do to support the vision of the association. Last year, the board made the strategic decision to support the operational aspects of the association by investing in a dedicated membership manager. The work that both Eleanor Salt and Sophie Cheers did for the association was hugely beneficial.

We have done a lot more for members this year than in previous years and the cost of this can be seen in our P&L. 

In 2024, the board will be exploring new hiring options for our next member manager and different ways we can impact our members that will generate more working capital for the association. 

We all know that price elasticity does not work for startups and scaleups! So we will be looking at ways where we can partner with Governments, Investors and Corporates to enhance the proptech ecosystem, deliver value to our members and support bigger conversations and engagement with technology across commercial property, housing, construction, property management and real estate.  

And to close, I would like to confirm that our balance sheet is pretty simple as we have no debt and our assets consists mainly of cash in the bank. So the Proptech Association Australia is solvent, has a solid cash reserve that it has proudly bootstrapped and with the support of our members, sponsors and partners, we will continue to deliver value in 2024.