Frisco Noon Rotary - Treasurer's Report 08/09
It has been my honor to serve as your treasurer this past Rotary year, and as your treasurer, I bring you this club's first report of our financials plus more.
Financial Results
Although this year has been hit with a challenging economic environment that none of us would have ever asked for, the club has had its best year due to our great members.
Some of our financial and other important statistics are as follows:
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Active membership grew from 72 to 78 members during the year, up 8.3%
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ClubRunner website, added to mirror the district, average hits of 972/month, almost doubling the hits from the old website
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Paul Harris Contributions to RI increased from $6,080 in 07/08 to $7,218 or a $111 average for 55 members, to $124 average for 58 members
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Donations to our community grew from 3 organizations in 07/08 totaling $6,539 to 13 organizations totaling $17,293, our best year ever
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The Scholarship CD fund, our biggest donation grew from $69k to $92k (see more detail below)
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The club increased its circle of influence in the community and added 5 local business partners to help us raise funds for worthy causes.
Club Revenues
Each member is billed $150/quarter in advance during Dec, Mar, Jun, & Sep for a total of $600 annually. An additional $25 per quarter is billed to contribute to the Paul Harris Fund, which benefits the district with matching funds for future worthwhile projects.
Any potential new member is asked to visit our club for at least three weeks and upon approval of the board will donate a $100 initiation fee to the club to become active.
The clubs biggest fund raiser is the annual golf tourney in April each year netting an average of $30k over the last two years. These funds are used to pay for the scholarships and donate to various organizations during the year based on a pre-determined budget.
Membership Costs
Annual Membership dues to Rotary International are $60 per member which includes the subscription to the monthly newsletter. Annual membership dues to the District are $25 per member. Weekly meals cost the club $32k for the year or $407 per member. Our club has been lucky to have DBU as a host to provide the club with a meeting place each week, free of charge. The balance of each member's dues goes to pay for district conferences including Pets for new board members and various website costs, pins & awards, liability insurance, etc.
Scholarship Fund
Each year the Frisco Noon Rotary Club makes available a $4,000.00 scholarship to a Frisco ISD graduating senior. The scholarship award is based on need, academic achievement, leadership, and participation in extra-curricular activities. In the current year the club awarded, two scholarships to high school seniors, and seven college students are receiving continuing payments from previous awards.
A check for $500.00 each semester for up to eight (8) semesters is made out jointly to the recipient and the junior college, college, or university of the student's choice after receiving confirmation of grades from the student.
At year end the club granted one extra $4,000 scholarship in honor of our deceased "Sergeant of Arms", Mark Hill.
Our Clubs Future
The club has had a record year of contributions and support from our members during challenging economic times. Your board is hopeful that each member makes a commitment to "Service above Self" in the Rotary tradition and together we can Make A Difference in the Frisco community.
Sincerely,
Steve Boyle
Treasurer
2008-2009 Frisco Noon Rotary
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