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

[Robert S. Kraus]

Correct. We have NOT received the Omni deposit back yet.

In Liberty,

Robert

Robert S. Kraus - Operations Director
Operations at LP.org
Libertarian National Committee, Inc.
1444 Duke Street
Alexandria, VA 22314
Phone: 202.333.0008 x 231
Direct: 571-290-5408

Donate or Join: https://www.lp.org/leaders-staff/robert-kraus/

Member: Association of Meeting Professionals (AMPs)
2019 "Planner of the Year"

On 5/2/2020 2:54 AM, Alicia Mattson via Lnc-business wrote:
> 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
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