A / 101 Aviation Association

Bi-Annual Treasurer Report

June 30, 2005

 

Our fiscal year begins on January 1 and ends on December 31 each year, which is also in compliance with our IRC 501(C) (19) status. The first half of this year has been one of significant challenge, as the early years are make or break for any young organization. There have been many individuals who have contributed financially and/or personal time to make A/101 Aviation successful during the first half of 2005. Initially our budget was simply a best guess that was required by IRS.

 

The Panel and Membership have taken the responsibility seriously and should be very proud of the following accomplishments:

 

      Our 1st Income Taxes were filed for the year 2004 and we have not heard any response from IRS, which is good news.

 

      Our membership has grown.

 

      Our award winning web site has grown greatly thanks to our Webmaster Rick Bittle.

 

      Snow Bird was an over whelming success. Budgeted for $100 profit, Snow Bird generated $839 in revenue. Thanks to the M&Ms (Mike Pavisich & Marty DiOrio), contributors and others.

 

      The Legacy project was budgeted for $51.43 profit this year, and is $193.99 in the green, with $200 in reserves to finish the project, which includes shipping the original painting to the 101st Airborne Division. Thanks to Jerry Turner and others.

 

      Our budgeted membership donations are $1600 for the year and are currently at $939. Our annual donation drive is scheduled for October and hopefully will put us over the budgeted mark. Many thanks to our Membership.

 

      Webmaster and Treasurer supplies are budgeted at $150 total and $0 has been spent.

 

      Our Web Host fees are due in September and budgeted for $300 and will most likely come close to budget.

 

      Our flower budget is $360 and $95 has been expended. Really wish this expenditure were zero every year.


 

      Stores sales are budgeted at $50 profit for the year and are currently at $64.50 profit for the 1st half of this year, which includes a pending $100 check from the sale of hats at Houston. Stores has sold $669 worth of merchandise. The Panel has reinvested $604.50 in Stores to position Stores to be a significant future profit center for the Association. Stores has been completely re-supplied with $464.50 of new inventory, $90 worth of shipping and postage materials, and has a new storage cabinet to store the sensitive inventory such as paintings. Stores now has some 787 Legacy prints for sale. Under future consideration is $198 in CCN patches being considered by the Panel to be carried by stores to be offered for sale. The Panel has rejected some new ideas that were not deemed as potential profit makers. New ideas such as t-shirts, lighters, CCN patches were given the green light. These are projects, which members have taken on their own to help stores. The Panel feels very proud of stores being re-supplied and positioned as a future revenue generator. Many thanks to Gil Jones for taking this responsibility as the new Stores Manager and to Gary Lee for helping Gil with the transition.

 

      Tampa Bay Reunion is an unbudgeted item and was approved for $300 to set up the famous A/101 Aviation Hospitality Suite. M&Ms have stepped forward to manage another hospitality suite.

 

In summary, the Association is at or ahead of nearly all budget objectives for the first half of this year, and with everyones help should finish a stellar 1st year and be positioned for a successful 2nd year.

Copyright 1998-2005 A/101 AVN. All rights reserved.
Revised: 09/24/05.