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Written by Billie Reynolds
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Thursday, 07 January 2010 |
YES, MONEY MATTERS
 There is a good report from your OCW treasurer and your business
manager. The organization is getting along very well and all of our
tax-related documentation has been sent out by our accountants,
Schreffler & Co. of Keizer , Oregon. Tax forms must be filed even
though we are a not-for-profit group and owe no taxes. As of March 15,
the checking account held $7,764 and we have some money in savings. OCW
made a $27,000 prepayment to Canby Grove Conference Center, thus earning
a $600 credit on our bill for the 2010 summer conference. This
arrangement nets us a much higher interest rate than we’d get by putting
that amount in a CD.
Income is working out well. The dues pay for the overhead of running the organization—the postage, newsletter, Web site, accountants, insurance, etc. The one-day conferences should pay for themselves at the new rates, rather than lose money. The venues have been charging more and, as OCW grows, so do the costs. (More rooms, more microphones, more copies, more of everything.)
Now I have a confession to make … I did slip some checks into the wrong envelopes for book sales; they have now been mailed to the correct people.
Thomas Jefferson said when we owe money to others, we are slaves to whom we owe. How nice that OCW is in the black and our freedom is intact!
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Money Matters 
