[Lnc-business] [COC 2018-20] March End-of-Month Financial Reports

[Alicia Mattson]

Have we not yet received the Omni deposit back?  If we have, it would
already be in the cash balance.

Other past banquet fundraising figures I have are:
2008 - $61,961
2010 - $61,750
2012 - $38,074
2014 - $23,029
2016 - $105,961
2018 - $58,160

-Alicia


On Fri, May 1, 2020 at 8:00 PM Tim Hagan via Conventions <
conventions at hq.lp.org> wrote:

> I got corrected by COC members. If the convention is canceled,
> Convention Theme Contest donors and other unrestricted
> convention-related donations could ask for rebates. This amounts to
> $31,291. If 90% ask for refunds, another $28,162 would need to be taken
> from the unrestricted funds to pay for the refunds.
>
> The 2016 Banquet/Gala fundraising raised $105,961. I don't have the
> amount raised for other presidential-election years handy.
>
>
> ---
> Tim Hagan
> Treasurer, Libertarian National Committee
>
> On 2020-05-01 18:45, Sam Goldstein wrote:
> > 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
> _______________________________________________
> Conventions mailing list
> Conventions at hq.lp.org
> http://hq.lp.org/cgi-bin/mailman/listinfo/conventions
>