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Thread: 5A7) Half-Year Financials

  1. #1
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    Default 5A7) Half-Year Financials

    For Discussion

    FS2020a.pdf

  2. #2
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    I think it's telling that both the website and computer equipment are completely written off (and the site was 3 years ago). Both obviously need replacing.

    Everything else seems pretty stable to me..
    Christopher Mallon
    FIDE Arbiter

  3. #3
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    Thanks Fred, great report. A couple of questions on the financial report: 1) What is the "Sales of books and equipment"? Is this discarded books and equipment or do we get a rebate/ commission from Strategy Games ? 2) Can you please shed light on the CFC Magazine / CFC Newsfeed expense of $2,375.00 for the previous 2 quarters of 2019 - to October 31st and $4,220.00 for the 2018-19 fiscal year ? 3) What are the "Sales Affiliate Rebates" and how do they work ?

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    Quote Originally Posted by Lloyd Lombard View Post
    Thanks Fred, great report. A couple of questions on the financial report: 1) What is the "Sales of books and equipment"? Is this discarded books and equipment or do we get a rebate/ commission from Strategy Games ? 2) Can you please shed light on the CFC Magazine / CFC Newsfeed expense of $2,375.00 for the previous 2 quarters of 2019 - to October 31st and $4,220.00 for the 2018-19 fiscal year ? 3) What are the "Sales Affiliate Rebates" and how do they work ?
    1) Commission from CMA/Strategy Games
    2) We pay $300 monthly for the CFC Newsfeed and the remainder would be for the CFC Newsletter, which seems to come out about once a year (the budget is $1200 per newsletter).
    3) You should check with the office or search for it in the Handbook. Essentially it's a fee to become an "affiliate" and you get a rebate on CFC memberships sold.
    Last edited by Fred McKim; 02-24-2020 at 07:13 AM.

  5. #5
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    Quote Originally Posted by Fred McKim View Post
    3) You should check with the office or search for it in the yearbook. Essentially it's a fee to become an "affiliate" and you get a rebate on CFC memberships sold.
    The sales affiliate program has an annual fee of $25 plus tax. As an affiliate, you collect and remit membership dues to CFC and receive a discount. The discount is equal to 15% of the CFC share. The program is open to organizers and clubs. The concept is to reward those who help us collect dues.

  6. #6
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    Quote Originally Posted by Fred McKim View Post
    1) Commission from CMA/Strategy Games
    2) We pay $300 monthly for the CFC Newsfeed and the remainder would be for the CFC Newsletter, which seems to come out about once a year (the budget is $1200 per newsletter).
    3) You should check with the office or search for it in the yearbook. Essentially it's a fee to become an "affiliate" and you get a rebate on CFC memberships sold.
    Thanks Fred, I haven't received a CFC Newsletter for probably somewhere around "at least" 2 years and I'm thinking more likely 4 or more years.

  7. #7
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    As the club we don't have issues with the very promt rating updates. However, the financial part is very very lacking. Most likely we are not alone for waiting invoices to rating calculations for months ... Thus, the financial situation might be even better than shown in a report.

    The report would make more analyzing value if it had 2018 October situation.
    .*-1

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