The 2003 accounts indicate that we have somewhere in the region of 2,200 subscription paying members.

Excluding the building fund donations, but noting that the accounts include the costs of 5 club magazines against the receipts for 4, and the projected savings of $2400 per issue from now on, it is fair to say that the clubs annual profit should average $25,000.

QUESTION(S) 1. Noting current 'cash' funds of around $82,000 - what is the long term objective of these funds? Correct me if I am wrong, but unless tax laws are so dramatically different in the US, I would assume the club gets its 'exempt IRS' status due to the fact that it is supposed to be non-profit making. Surely most organisations with similar status are only allowed to accrue funds as they have buildings or other such projects to support? If we were ever to acquire a building, this would undoubtedly be the largest item of expenditure the club woud ever incur. If there is no other major long term 'capital expenditure' objective then why do we distinguish between the building fund and general fund?

Even if we maintain our tax status, the annual maintenance, utilities, security and insurance for any suitable premises are likely to be in the region of the clubs current annual net income. However...no matter how many eager volunteers we have, clubs always need to employ staff to work in premises unless they only want them to be open on an 'ad-hoc' basis, which to my mind defeats its purpose. At a shrewd guess I think subscriptions would have to be increased by 50% to cover ongoing costs.

I have seen insufficient evidence of the building sub-committees work so far. Please note I AM NOT SAYING THEY HAVEN'T DONE ANYTHING! I am merely stating that I have not seen any mention of the things I would have expected them to report back on. This is a 'club'... which means that anything which the sub-committee reports back to the main committee must be made public to its members at the same time. I would have expected to hear about the following by now, viz-a-viz

QUESTIONS (2). Has a 'feasibility study' been carried out to ascertain the likely square footage & location desired to see whether this is really achievable at todays property prices? Have any estimates been made of likely running costs and how that money would be raised? (subscriptions? separate membership? entrance fees? alcoholic refreshments...always a good earner?)

My main concern would actually be that with property prices continually on the increase, the price of any suitable property could in fact be increasing faster than we are raising money.