Oireachtas Joint and Select Committees
Wednesday, 13 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Patrick Davitt:
Okay. Let's take the first question first. So the ... how IPAV is funded is, we have a membership base obviously of approximately 1,000 members right now, we'd 800 in 2013. And those members pay a particular amount of money to the institute every year, which, if you're a member or a member firm, you'd pay €400 plus VAT or, if you are an employee, you would pay €200 plus VAT. Now we're not a conglomerate, we are a very small organisation. We have three employees and myself, which is four employees. So our ... sort of turnover would be about €400,000 to €500,000 and that would ... our expenses ... last year actually we lost €50,000. But that's unfortunately the way it is. We would do education and we would do CPD as well and we would get a certain amount of fees in for CPD and for education, which would go towards our running costs.
So, that's basically where we ... we don't get grants from anybody, or we don't get anything else from anybody else, like, that's where we're funded. The second one was, sorry-----