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
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.






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 |