b'ILPA ANNUAL REPORT 201918OPERATING EFFICIENTLY AND EFFECTIVELYAt ILPA we continue to maximize our impact while optimizing our costs, so that we can serve our LP members in the most value-added manner. In 2019, our revenues continued to increase as a result of growing membership, the significant expansion of our ILPA Institute programming, and strong LP attendance and GP and service provider sponsorship at our major events. For the year, revenues were $8.8 million, a 10% increase from 2018.Association expenses were in line with expectations, totaling $8.3 million for the year, and an increase of 11% from 2018. During 2019, we invested in our expanding educational platform, additional staff to meet the needs of our growing membership and preparing for ILPAs firstSummit in Europe. Additional areas of infrastructure investment were made into our manage-ment and accounting systems in preparation to further innovate and automate processes in the upcoming year. All surplus from the 2019 fiscal year will be invested into the Association or into term-deposits to direct to future activities. Looking forward, ILPA will be updating its various application systems, increasing its capabilitiesin Salesforce and enhancing our online connections, bringing programs closer to our members in the coming year. We look forward to continuing to operate in a fiscally responsible manner while investing in our growing membership. 2019 AREAS OF INVESTMENTGROWINGEDUCATION ADDITIONALMEMBERSHIP PLATFORM STAFFILPA SUMMIT APPLICATIONEUROPE SYSTEMS'