The TRSA Board of Directors has voted to strengthen the association’s research capabilities and allocate $300,000 in annual funding from its reserves to support initiatives that enhance the member experience and advance the industry. At its meeting on May 13, held in advance of the TRSA Annual Conference in Indian Wells, California, the Board also voted to conduct an industry-wide Economic Impact Study by Oxford Economics and to create two standing councils to identify research priorities and recommend investments in activities that provide value to TRSA members.
“Over the past decade, TRSA has built reserves exceeding $12 million through prudent budgeting, sound investment strategies, and the sale of its interest in the Clean Show,” said TRSA Chair Randy Bartsch, Executive Chair of Ecotex Healthcare Linen Service. “While it remains a priority to maintain a strong financial foundation—targeting reserves of at least one year’s operating budget, or approximately $7 million—we also recognize the importance of putting our resources to work for our members. Under the leadership of TRSA Vice Chair PJ Dempsey, a Reserve/Investment Task Force recently updated our policies to commit a percentage of the organization’s reserves to fund initiatives that increase member value.”
The standing councils will be established to identify initiatives that support TRSA’s mission to expand, promote and protect the linen, uniform and facility services industry, including advocacy, research, scholarships and other projects not funded by the annual operating budget. If you are interested in serving on either of these councils, please contact TRSA President & CEO Joseph Ricci (jricci@trsa.org).
Among the first initiatives approved is an Economic Impact Study to be conducted by Oxford Economics, a leading global advisory firm. The project will quantify the U.S. economic footprint of the linen, uniform and facility services industry—including jobs supported, GDP contribution, tax revenues and supply chain impact—providing authoritative, third-party data to strengthen TRSA’s state and federal advocacy and help TRSA communicate the industry’s value to policymakers, the media and other stakeholders.
In addition to funding from reserves, these initiatives will also receive support from TRSA’s charitable organization, the Textile Rental Education and Research Trust (TRERT), which currently funds merit-based college/technical school scholarships and TRSA Institute scholarships, as well as the industry internship program that has helped fund nearly 30 internships.
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