Canadian Business Press to become a foundation, concentrating on awards program

The Canadian Business Press, Canada's oldest business-to-business publishing trade organization, has decided to relinquish being a member-driven organization in favour of a foundation that will ensure the future of the CBP's most important asset, the Kenneth R. Wilson awards (KRWs).

In a press release, the organization reported the unanimous decision taken by members at a special meeting.

John Kerr, the sitting CBP chair said that ultimately the goal was better to serve the business publishing industry.

"As we looked forward from the past several years experience, it had become evident the scope and scale of the programs we wish to provide to our members are either duplicated elsewhere or  will require a tremendous commitment of time by our membership and that the ongoing value we could continue to deliver was going to be sacrificed in favour of maintaining balanced budgets.”  

Faced with an increasingly difficult time maintaining both programming and a balanced budget in the face of a shrinking membership (many of its members having decamped to become members of the Magazines Canada trade division), it was decided that the CBP would continue to be an ongoing entity, but as a foundation.

“The concept and drivers for the foundation are to preserve an existing capital base, allow an operating structure for the KRWs, honour and protect it’s brand and provide a forum to celebrate the tremendous efforts of so many great publishers who worked tirelessly on the industry’s behalf’ said Jim Hall CBP Vice Chair.  In short, maintaining the CBP and KRW banners in one place was an important outcome.

CBP had earlier moved to merge its involvement in Magazines University with MagNet, the annual industry conference operated by Magazines Canada and to engage the National Magazine Awards Foundation and its staff to run the KRWs. As a result, the awards since have had record entries and attendance.

Over the summer, CBP will transfer its remaining operating surpluses to the foundation and any surpluses from the KRWs will be gifted to the foudnation; present KRW members will become patrons; and five of the current board members will form the board of the new foundation, which will continue to work on special events from time to time to raise money and build the capital base.

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