Resilient. Engaged. Unwavering.
In 2020, the Security Industry Association (SIA) adjusted to a new normal in the wake of the COVID-19 pandemic. In the midst of this challenging time, the association doubled down on its members, delivering exceptional value and a host of new member benefits in a virtual environment.
This annual report details the most substantial of SIA’s 2020 accomplishments and how we collaborated with our members and partners to serve and advance the security industry, all while growing SIA’s membership.
A Message From SIA Board of Directors Chair Pierre Trapanese
Support in an Uncertain Time
In the evolving situation with COVID-19, SIA developed a comprehensive online COVID resources hub for its members and engaged in ongoing efforts to educate, support and advocate for the security industry and companies impacted by the pandemic.
SIA worked with ESA and TMA to ensure the industry’s workers were classified as “essential." We collaborated with ASIS International to develop webinars and virtual training related to the pandemic. Our team provided in-depth analysis and practical guides to government programs, such as the CARES Act, the Paycheck Protection Program and loan forgiveness programs.
Delivering New Benefits
In 2020, SIA provided its members with a robust suite of new offerings, testified in over a dozen states and localities on legislation that matters to the industry and awarded nearly $100,000 in scholarship funds. Below are just a few of the ways your association delivered new value in 2020.
SIA Open Supervised Device Protocol (OSDP) was approved as an international standard
Launched OSDP Verified, a comprehensive testing program to ensure interoperability
Released Good Better Best: Comprehensive Best Practices for Public Transportation Security
Held the first-ever virtual SIA New Product Showcase, the flagship awards program in partnership with ISC West
Partnered with Omdia to deliver industry, technology and vertical market research reports produced exclusively for SIA members
Launched the Women in Security Forum Scholarship and raised $50,000+ towards funds
Initiated the SIA "Adopt a College" outreach program and held five virtual visits with colleges
Expanded Microlearning and Cornerstones elearning series and delivered a new online learning management system
Launched the Member Accelerated Performance (MAP) program for startup businesses
Provided analysis on new National Defense Authorization Act Sec. 889 implementing rules
Released the fifth edition of the Partner Alliance for Safer Schools' Safety and Security Guidelines for K-12 Schools and published the SIA
Guide to School Security Funding
Published SIA Principles on the Responsible and Effective Use of Facial Recognition Technology. Published Facial Recognition Success Stories & What NIST Data Shows About Facial Recognition
Launched the Foundation for Advancing Security Talent (FAST) and the FAST Jobs Board
Established the SIA
Membership Code of Ethics and required principles of conduct
Produced the 2020 Security Industry
Wage and Benefits Benchmarking Study
Growing Membership & Community
SIA connected its members with success through opportunities to engage with one another and the industry as a whole – growing its member base, fostering committees and working groups and communities for women and young professionals in security.
Virtual? Yes.
Disconnected? No.
In a “new normal” of remote work, SIA gathered the industry to learn, connect and advance their careers and companies through its essential virtual conferences, training offerings, webinars, networking events and more.
Total number of registrations for SIA virtual events and webinars in 2020
Organized and held 30 virtual SIA Education@ISC sessions
Hours of virtual content delivered by SIA in 2020
Nearly 1,200 people registered for SIA GovSummit, drawing officials from across the country
Approximately 500 security industry executives registered for Securing New Ground
The Security Project Management (SPM) courses were delivered virtually 9 times in 2020
Held the first-ever virtual GovSummit, AcceleRISE and SNG conferences – and grew attendance!
Number of member companies that spoke on a SIA webinar in 2020
AcceleRISE 2020 registrations increased 51% over 2019
Open Supervised Device Protocol (OSDP) bootcamps pivoted to virtual
2020 SIA Board of Directors
PIERRE TRAPANESE
JOHN AGUILA
MIKE MATHES
JAMES ROTHSTEIN
KIM LOY
STACY DEVERAUX
ERICA MCBRIDE-RAPP
BRIAN WISER
SCOTT DUNN
JANET FENNER
TOM NAKATANI
LES GOLD
LYNN DE SÉVE
GREG HILL
TIM PALMQUIST
SCOTT SCHAFER
JOHN E. MACK III
JODY ROSS
Financials
The balance sheet and statement of activities shown in the SIA Annual Report have been audited and are accurate depictions of the financial position of the Security Industry Association as of Dec. 31, 2020. The information that follows illustrates the major categories of revenues and expenses related to SIA's activities. The association's operations for the fiscal year 2020 conformed to the strategic plan approved by the SIA Board of Directors and revealed another strong year-end with revenues over expenses.
Audited by RSM US LLP.
Statements of Financial Position
| Dec. 31 | 2020 | 2019 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $2,256,718 | $1,994,126 |
| Investments | $9,860,874 | $9,089,241 |
| Accounts receivable | $137,988 | $400,113 |
| Prepaid expenses | $254,051 | $193,224 |
| Intangible assets | $405,000 | $405,000 |
| Deposits | $24,187 | $24,187 |
| Property and equipment, net | $67,099 | $208,547 |
| Total assets | $13,005,917 | $12,314,438 |
| Dec. 31 | 2020 | 2019 |
|---|---|---|
| Liabilities and Net Assets | ||
| Liabilities | ||
| Accounts payable and accrued expenses | $363,348 | $324,501 |
| Deferred revenue | $510,404 | $448,610 |
| Total liabilities | $873,752 | $773,111 |
| Net assets, unrestricted | $12,132,165 | $11,541,327 |
| Total liabilities and net assets | $13,005,917 | $12,314,438 |
Statements of Activities
| Year Ended Dec. 31 | 2020 | 2019 |
|---|---|---|
| Revenue | ||
| Sponsorships | $3,963,469 | $5,060,534 |
| Membership dues | $771,028 | $885,302 |
| Participation fees | $329,934 | $385,815 |
| Interest and dividend income, net of fees | $216,525 | $382,652 |
| Other income | $38,268 | $20,558 |
| Document sales | $30,002 | $9,290 |
| Total revenue | $5,322,226 | $6,744,151 |
| Year Ended Dec. 31 | 2020 | 2019 |
|---|---|---|
| Expense | ||
| Salaries and benefits | $2,956,678 | $3,015,634 |
| Office rent, equipment and depreciation | $644,161 | $695,786 |
| Meetings and events | $632,355 | $1,341,300 |
| Consultants | $296,647 | $243,907 |
| Accounting and legal | $163,456 | $119,873 |
| Printing and publications | $163,433 | $271,173 |
| Dues and subscriptions | $103,620 | $105,243 |
| Awards and contributions | $92,616 | $153,951 |
| Marketing | $84,909 | $283,528 |
| Other expense | $94,115 | $164,059 |
| Telecommunications | $38,980 | $56,623 |
| Travel | $16,033 | $51,590 |
| Total expense | $5,287,003 | $6,502,667 |
| Year Ended Dec. 31 | 2020 | 2019 |
|---|---|---|
| Change in net assets before investment gain | $35,223 | $241,484 |
| Net gain on investments | $555,615 | $981,161 |
| Change in net assets during year | $590,838 | $1,222,645 |
| Net assets, beginning of year | $11,541,327 | $10,318,682 |
| Net assets, end of year | $12,132,165 | $11,541,327 |
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