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Thread: 5A2. Discussion Items - CFC financial situation in 2022 and beyond

  1. #1
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    Default 5A2. Discussion Items - CFC financial situation in 2022 and beyond

    We've all been through challenging times during the pandemic - we want to hear from you on how we're doing, what you perceive the priorities to be, how to we build the Federation going forward?

  2. #2
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    It is my belief (still awaiting last year's financials which should be done before the end of the meeting) that we will come back stronger than ever after the end of Covid. The last Olympiad which concluded less than a month ago was the most expensive ever. This current fiscal year will reflect that expense but it was somewhat offset by the cancellation of the 2020 Olympiad. We had set aside $25,000 to pay for the 2020 Olympiad which will be applied to the 2022 Olympiad and we did get a subsidy of 750 Euros from FIDE for each player and delegate which will also bring down the overall cost.

    Despite greatly reduced income during the Covid crisis, the CFC weathered the storm and all indications are that we will recover as demand for tournaments and memberships appears to have recovered quite strongly bolstered by people who are new members who took up chess during the pandemic and our old members returning and trying to shake off the rust.

  3. #3
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    Lyle Craver asked for and Bob pointed us to membership numbers which have recovered nicely after Covid.

    https://www.chess.ca/en/cfc/membership-statistics/

    Overall we are above 2019 membership levels and 243 down from the peak of 2790 for May 1st, 2020. The recovery from Covid appears to have brought us back to 2019 levels.

  4. #4
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    I believe that if we can afford it, we need a part-time assistant for the CFC office. Specifically, invoice handling and remittance of provincial membership revenue are falling behind. I'm sure Bob is putting in much more than a 40 hour week to keep up with the higher priority stuff.
    Paul Leblanc
    Treasurer, Chess Foundation of Canada
    CFC Voting Member

  5. #5
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    Bob and Vlad,

    The OCA has not yet received CFC rebates for the previous financial year. When can we expect to receive the rebates?
    Thanks,

    Ilia Bluvshtein,
    OCA President

  6. #6
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    Hello all,

    In a nutshell, I have been completely overwhelmed this summer with,

    Involvement with the CYCC / CO Hamilton 2022
    Difficulties with the new JustGo online membership system
    The flood of new and returning members as we come out of the COVID shutdown
    Mentoring a lot of rookie TD's / Organizers post COVID with SwissSys etc.
    A greater number of events being FIDE rated now
    Rating issues and dealing with a larger international event, NAYCC

    so my apologies to all that are waiting for something from the CFC Office.

    I just spoke with Vlad, he has approved the go ahead with getting some part time help, much appreciated.
    I am working on the financials now for the AGM, should be ready by Thursday evening.
    Cheques for provincial dues will be ASAP after I get the financials done. Apologies to Ilia, he has asked me earlier and I told him 2 weeks. But that was way more than 2 weeks ago.

    Bob

  7. #7
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    Our membership numbers seem to be much better than I expected. Hopefully by next fiscal year we can return to the high of almost 2800 members that we hit May 1st, 2020.

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