Today is the day for ABCTE, we are officially on our own. It was about four years ago that I became the President and things were definitely not as rosy. We had lost our grant in Congress and we had to run around working to get our funding back in the spending bill. The press was not kind to us because of some issues with our board and it had been a while since a new state had accepted us.
It takes a dedicated team of people to overcome those issues, cut costs and build success. It took a great board of directors to help brainstorm solutions to our financial problems. It took many friends in many states to put themselves out there for ABCTE. And you have to watch every dollar.
Today is both a celebration and a thank you. Our revenue per candidate is now around $800 and our cost per candidate is down to $1,100. We have over $4.8M in the bank to cover that distance until our volume will create a break-even situation. It took very careful planning and execution to hit this point and I am very proud of where we are.
So to all our states, candidates, Congress, the US DOE, education reform friends, founding board members, staff (and the families of the staff since we travel so much), my sincere appreciation.