4.L. Treasurer's Report

[Fred McKim]

We had a healthy increase in membership and rating fee revenue this year. Some of that "surplus" money has gone towards the Olympic team and having a healthy start on the 2020 Olympic Fund campaign.

One of the projects I intend to work towards in the next fiscal year is our social media presence / CFC Newsletter. At one time we were spending as much as $18K on this.

GoMembership will be discussed separately, but Bob could use a couple of volunteers to help with this as the "model" tends to have a lot to do with Chess Clubs.

We have the financial resources to invest in a new website, but want to assess what we will need going forward once we have GoMembership up and running.

I have posted the complete Financial Statements at 4M., but any questions you have can be sent here.


Fred


Fred's "Coles Notes" CFC Financials

Revenue
======
Net CFC Memberships .............................................. $52,100
Net CFC Rating Fees ................................................ $37,700
Chess Foundation Donation ....................................... $10,300
CMA (Chess Equipment & Books Agreement) ............... $ 5,000

Total Net Revenue........................................... ...... $ 105,100


Expenses
======
Office / Admin .................................................. .... $52,200
CFC Olympic Program ............................................ $21,400
International Expenses .......................................... $12,300
CFC Newsletter / Social Media ................................. $ 4,200

Total Net Expenses .............................................. $ 90,100

SURPLUS .................................................. ......... $ 15,000