[Lnc-business] March End-of-Month Financial Reports

[Sam Goldstein]

Tim,

Thanks for the concise summary of our current financial position in 
regards to the convention.  Alternatively, can you also let us know how 
much was raised at the past several POTUS Convention Banquets/Galas that 
we would forego if we don't have an in person convention?

Live Free,

---
Sam Goldstein, At Large Member
Libertarian National Committee
317-850-0726 Cell

On 2020-05-01 21:20, Tim Hagan wrote:
> Convention Packages, Gala, Suites & Room Rentals, Welcome Committee,
> and Training Revenues are $302,942.
> 
> Assuming 90% will need to be refunded, the LNC would need $272,648 to
> pay the refunds.
> 
> 
> The LNC should get back the deposits paid for the event at the Omni
> and for audio/video if its contract is terminated under the force
> majeure clause.
> 
> Convention Funds in Restricted Acct: $209,130
> Refund from A/V Vendor:               $40,000
> Refund from the Omni:                  $3,500
>                                       =======
> Total Funds and refunds available:   $252,630
> 
> 
> The LNC will need another $20,018 to pay the refunds. This would have
> to come from the unrestricted accounts, which have $66,300 available.
> 
> 
> Please note:
> 
> If an in-person convention is not held, we will need to pay any costs
> for an on-line convention or polling of the delegates, and that would
> need to come out of the unrestricted funds.
> 
> Unlike package sales or room rentals, donors to the Convention Theme
> Contest were not expecting to get goods or services in return. This
> analysis assumes donations to the Convention Theme Contest will not be
> refunded.
> 
> ---
> Tim Hagan
> Treasurer, Libertarian National Committee
> 
> On 2020-04-27 16:12, Sam Goldstein wrote:
>> Mr. Hagan,
>> 
>> Assuming we do not have a National Convention this year and 90% of all
>> convention revenue to date is refunded to the contributors, what would
>> be the financial impact on the party?  Are there adequate funds in the
>> Convention Restricted account as of April 27, 2020 to pay those
>> refunds?  If not where will the additional money come from to take
>> care of those liabilities?
>> 
>> I would appreciate answers to these questions prior to the LNC meeting
>> scheduled for May 2nd at Noon Eastern Time.
>> 
>> Thanks and
>> 
>> Live Free,
>> 
>> ---
>> Sam Goldstein, At Large Member,
>> Libertarian National Committee
>> Convention Oversight Committee
>> 317-850-0726 Cell
>> 
>> On 2020-04-27 18:54, Tim Hagan via Lnc-business wrote:
>>> The March End-of-Month Financial Reports are attached. Membership 
>>> dues
>>> and donations are a under budget by $24,773 and $88,899 respectfully 
>>> for
>>> the year-to-date.
>>> 
>>> The way things have shifted during the past month and a half, I 
>>> expect
>>> that eventually we may need to shift money from Ballot Access
>>> petitioning to Litigation.
>>> 
>>> ---
>>> Tim Hagan
>>> Treasurer, Libertarian National Committee