Question for Board

[Kevin G.]

Re: Question for Board

Loren approves this thread!

[Kent S.]

Re: Question for Board

Terry

Yearly expenses are about $1.1M. A $400k cushion seems reasonable.

Dave

Doesn't that math assume zero income?

[David H.]

Re: Question for Board

"Yearly expenses are about $1.1M. A $400k cushion seems reasonable."

Doesn't that math assume zero income?

Kent

Revenue for 2023 was also about $1.1M.

Dave

[Rick G.]

Re: Question for Board

Can someone explain to me why the NCRS has over 1.5 million dollars in assests? Most of which is cash and CD's. Are we trying to reach some goal? Shouldn't we be using this money for something useful? Maybe lower the cost of membership or entry fees at Judging shows. Having belonged to several organizations over the last 50 years I fail to see why we have such a large nestegg.

If I recall correctly, $750K of the asset money was bequeathed by a very generous former NCRS member.

[Michael I.]

Re: Question for Board

Dave,
The entirety of the 2023 litigation charges, and the litigation charges accumulated thus far in 2024, were all associated with reaching a resolution with NCRS's former president; nuff said.
Mike

[Michael I.]

Re: Question for Board

Terry,

I will try my best to answer you question.

First, a little over $800,000 of the $1.5 million you cite is from member bequests made to the NCRS back in 2015. Our cash and cash equivalents after those bequests in 2015 was about $1.48 million, so there has been essentially no cash increase from operations over the past nine years. In essence we are operating at break even cash flow, a good goal for a member driven organization.

Second, our cash and CD balance of about $1.4 million is not excessive considering that our expenses are over $1,000,000 per year. As we learned from COVID, bad things happen.

Lastly, if we were to distribute the money back to our members it would amount to about $130 per member; perhaps enough to take our spouses out to dinner, but a severe hardship on the NCRS.

I hope this helps you understand the numbers you see in the NCRS financial report. We publish these reports each year in the Restorer. There is nothing new here.

Mike