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Just how are we doing financially?

by SCFF Treasurer Jim Tolonen

Several folks have been asking about our financials since this “stay at home Pandemic” showed up.  So I thought the easiest way to communicate to all was a short article in the newsletter.

Basically we are in very good shape.  As a “Non-Profit” we generally do not set out to make money every year, but through decades of carefully managing our inflows and outflows we have built up a reserve of cash to tide us through lean periods.  Our cash currently stands at approximately $29,000.  We had just finished our fiscal year on February 1, just after our successful annual fund-raiser dinner and raffle; and had our push for renewal of memberships through March.  All that completed before this pandemic struck.  So we were at a high point in our finances for the year.

As a brief overview, we usually have three sources of funds; the annual dinner itself (which raises about $2,500 net of all costs) , the big raffle and silent auction (which raises about $5,000 net of costs), and memberships and donations, (which raise about $6,500).   This gives a total inflow of about $14-$15 thousand per year.  Our total expenses for the year typically run about $14-$15 as well, including $3,000 in Conservation donations and $1,000 in scholarships.  The other large items are Speakers, Hall rental, Printing (including our roster, fund raiser and thank you letters), postage, liability insurance, events, etc.

So, if we brought in zero new dollars, our current cash should last about two years.  But the reality is that membership has continued to flow in, and even if we cannot have our normal January fund-raiser, it is still likely we can have some type of fundraiser later in next year.  Also, some of our expenses have decreased.  Speakers are charging less for ZOOM meetings because they do not have to travel.  We have already paid our grange rental for the year, and that is being held, and we are thankfully not being charged for now, as we cannot use the facility; so we are building a credit for future use.  The bulk of the new web site consulting work has been completed.  Our 11 scholarship recipients have already been paid.

I hope that is helpful and comforting.

Having been frugal in the better times is allowing us to weather these lean times.  I read somewhere that is usually a good plan.  I believe Ben Franklin recommended that in Poor Richards Almanac.

Looking very forward when the fires abate, and Covid is behind us, and we can all meet at the Grange, or on the water, or …….

In the mean time, stay safe and fish on!