The pandemic brought significant changes to LeadMN finances over the past year. Our traditional spending on in-person conferences went down to virtually zero and we offset those savings with a significant investment in technical equipment to host virtual events.
Despite these challenges, LeadMN expenses and revenue were the highest in the history of the organization. This is mainly due to another successful year of fundraising from individuals and foundations to support the organization’s work. At the same time, the student fee income continued to decline because of enrollment challenges at the colleges. In the future LeadMN needs to explore other ways to make up for the declining revenue from student fees if it is to continue operating at this level.