Presented by Rick Rayl, CBB - President of CABB
The California Association of Business Brokers concluded a successful year on December 31, 2023.
The association is the leading state organization for the Business Brokerage industry and is in a financially stable and organizationally sound condition. Details to Follow.
Financials
Income Statement
- 2023 Revenue was $329,405
- Membership Revenue $201,774
- Education Revenue $40,642
- Conference Revenue $84,604
- 2023 Expenses were $327,482
- G&A $226,587
- Education $21,250
- Conference $79,645
- 2023 Net Income $1,923
Balance Sheet
- 2023 Assets at 12/31/2023 $187,026.67
- 2023 Liabilities at 12/31/2023 $65,442.44
- 2023 Equity at 12/31/2023 $121,584.67
Membership
Membership in the organization grew by 8.7% over 2022.
Member Totals for year ending 12/31/2023:
Corporate Members: 215
Broker Members: 221
Affiliate Members: 49
Certified Business Brokers (CBB)
members earned their CBB in 2023 – 4 new CBB’s / 46 total CBB’s at the end of 2023.
Education
CABB Education conducted 15 classes for a total of 1809 hours of learning, a 66.3% increase.
Courses offered:
CABB 101 4 – 79 Students
CABB 201 4 – 37 Students
CABB 202 2 – 24 students
CABB 250 3 – 45 Students
CABB 501 2 – 9 Students
Legislative Updates
2023 saw the passing of the Broker’s Simplification Act as part of the Federal Inflation Reduction Act. This law allows for the Stock Sale of business-by-business brokers for small business. The federal law was 15 years or more in the making, and now the goal is for each state to adopt language to match the federal law.
CABB is leading the way for the California initiative. We are working with lawyers behind the national initiative and will submit language to the California Legislature once it has been drafted for adoption by the states.
CABB Bylaws
A major revision of the CABB Bylaws was completed in October of 2023.
CABB Forms
CABB Forms is one of the favorite member benefits. CABB researched and implicated the first overhaul of the forms system in many years. The new system streamlines the process of creating and managing forms for a deal and offers enhanced security and functionality.
2023 CABB Board of Directors
Randy Katz, CFA – Immediate Past President, Conference Committee Co-Chair
Rick Rayl, CBB, CAS, CFC – President
Steven Hanson, CBI, CBB. MBA – Treasurer, President-Elect, Education Vice-Chair
Matt Coletta LCBB, CBI, M&AMI – Secretary, CBB Committee Chair
Tawnya Gilreath, CBI, CN&AP, JD – Forms Committee Chair
Greg Michail, CBB – Conference Committee Co-Chair
Ron Johnson, CBI, LCBB, M&AMI – Education Chair
Tony Moran, CBI, CBB, M&AMI – Membership Committee Chair
Scott Williams, Esq. – Bylaws Project Manager
Teri Craft – Communications Committee Co-Chair
Sally Rowshan, Esq. - Communications Committee Co-Chair
Eric Landis, CBI, ABI – Membership Benefits Chair
Members Terming out at the end of 2023
Ron Johnson, CBI, LCBB, M&AMI – Education Chair
Tony Moran, CBI, CBB, M&AMI – Membership Committee Chair
Randy Katz, CFA – Immediate Past President, Conference Committee Co-Chair
Newly Elected Board Members for 2024
Cynthia Moller
Jack Chung
Matt Manavi MBA, CBI, CM&AP, M&AMI