• IGA still carries debt from the Building Mortgage ($1.8 million) and Covid Relief Loan From Clarion ($1.0 million) • IGA’s Projected budget cash flow for FY2025 is a positive ~$700,000 FY 2025 Budget Summary 1. Tribal Membership: In 2024, IGA collected another record amount of Tribal Membership Revenue. Membership Director Kevin Leecy and his team worked throughout the year to collect record dues of $1.72 million . For FY 2025, the accounting department has budgeted the same. Annual Membership dues are a vital source of income for IGA and represents 20% of the total gross revenues. “Wall of Sovereignty” In 2022, IGA’s membership director initiated a campaign for additional membership fees beyond the normal schedule. Tribes donating an additional $25,000 in membership received their name on the Wall of Sovereignty at the IGA Conference Room. IGA is averaging an additional $100,000/yr from this effort, and we are working to expand the program in FY2025. This strong initiative by the Membership Director has the potential to raise significant funds for NIGA’s operating budget while giving participating Tribes a prominent space at the IGA headquarters building. We are also seeking their participation in order to help fund the last of the renovations at the IGA Building. On September 9, 2024, renovation was completed on the front façade and flashing at the front of the building. This work was necessary to prevent leaks in the basement where the final phase of Renovation is expected to start this fall. This will be the long planned “Tribal Leaders Lounge” in the basement. 2. Associate Membership Fees Currently, IGA’s Associate Membership Fees are to be set by the Full NIGA Board Annually at the Mid-Year Conference. In FY 2024, IGA collected $245,000 in Associate Member fees and we planned on matching that total in FY 2025. The current Fee structure for Associate Members is broken down by Business Category. Casinos & Equipment Manufactures Banking & Financial Services Professional Services Law Firms & Legal LLCs
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