[Ravensfort] Fw: Re: Fw: [Ansteorra-announce] [Announcements] FromtheBoard of Directors-Financial Announcement
Dan Smith Jr
gogetdan at gmail.com
Mon Feb 23 09:09:56 PST 2009
Wow... good. I don't feel so silly in thinking the exact same thing. Like
you, I'm not really sure that it should irritate me. But it does. I'm
still looking for more opinions / information before I write a comment.
Thanks, Alaric
--------------------------------------------------
From: "Cathal SilAlmhain" <silalmhain at yahoo.com>
Sent: Monday, February 23, 2009 9:35 AM
To: "Ravensfort List" <ravensfort at lists.ansteorra.org>
Subject: [Ravensfort] Fw: Re: Fw: [Ansteorra-announce] [Announcements]
FromtheBoard of Directors-Financial Announcement
> I think that this means that they had some savings in stocks (more
> volatile) which they moved to bonds, money markets, or cds (increasing
> less volitile in the order that I have listed them). The question is, why
> did they have any money in stocks (especially high-risk stocks) in the
> first place? the natural answer to this question would be "to make money
> in the stock market" but that answer doesn't satisfy: the point of the SCA
> is not to make money. The point of the SCA is to spend the money it has
> doing the SCA's work (namely, facilitating the play of its members). Not
> to mention the fact that taking the money out of volitile investments
> *after* the investments have tanked is not really beneficial . . .
>
> Note that the foregoing is based on reasonable assumption, not fact.
>
>
>
>
>
> --- On Sun, 2/22/09, Dan Smith Jr <gogetdan at gmail.com> wrote:
>
>> From: Dan Smith Jr <gogetdan at gmail.com>
>> Subject: Re: [Ravensfort] Fw: [Ansteorra-announce] [Announcements] From
>> theBoard of Directors-Financial Announcement
>> To: giovanna51 at yahoo.com, "Raven's Fort Barony of"
>> <ravensfort at lists.ansteorra.org>
>> Date: Sunday, February 22, 2009, 1:54 PM
>> Before I go further, can somebody explain this line to me so
>> that I'm sure I get it's meaning? :
>>
>>
>> "4. The Directors and corporate staff have
>> realigned our investments in minimize the impact of a
>> volatile market."
>>
>>
>> Thanks. Alaric
>>
>>
>>
>>
>> From: CAC
>> Sent: Friday, February 20, 2009 11:51 AM
>> To: Raven's Fort Barony of
>> Subject: [Ravensfort] Fw: [Ansteorra-announce]
>> [Announcements] From theBoard of Directors-Financial
>> Announcement
>>
>>
>> This is interesting for those that aren't on the
>> Ansteorra list. For those that are I apologize for your
>> having to look at it twice.' The times they are
>> a'changin." wasn't that Bob Dylan?!
>>
>> --- On Fri, 2/20/09, Patrick Anderson
>> <president at sca.org> wrote:
>>
>> From: Patrick Anderson <president at sca.org>
>> Subject: [Ansteorra-announce] [Announcements] From
>> the Board of Directors-Financial Announcement
>> To: announcements at sca.org
>> Date: Friday, February 20, 2009, 11:27 AM
>>
>>
>> Financial Announcement:Our organization, like most of the
>> world, is suffering from the recenteconomic down turn.
>> Please take a moment to review the 2009 SCA, Inc.budget the
>> directors and corporate staff have posted
>> athttp://www.sca.org/. As you can see, the SCA is
>> forecasting a deficitfor this budget cycle (2009). At this
>> time, this is only a forecast, andwill be monitored and
>> modified as the year progresses. For the yearending 2008, we
>> had a net loss of $181,595.56. Looking forward to
>> 2009,changes in funding strategy will be required to meet
>> current and futureneeds.The SCA's 2008 and projected
>> 2009 deficit is a result of severalfactors.1. An
>> increase in the cost to the SCA's liability insurance.2.
>> The increased cost of travel.3. The increased cost
>> materials; printing, paper, postage etc.4. Over the
>> last couple of years our membership numbers hadremained
>> steady. However, the last four months have shown a
>> slightoverall decline in membership and more people are
>> renewing as associateorfamily members, resulting in a loss
>> of revenue.5. The Organization's branches hosted
>> roughly 100 fewer events thisyear; down to 1123 from 1247
>> the previous year.At the October 2008 Board meeting the
>> Board of Directors took thefollowing substantive measures to
>> cut costs.1. The elimination of one of the quarterly
>> in-person meetings of theBoard of Directors, the July
>> meeting, which will be replaced by aconference call. Please
>> note: The directors remain committed to outreachto the
>> membership. The elimination of this meeting was a
>> difficultchoice as the directors and corporate staff is
>> committed to publicmeetings, traveling across the Known
>> World in order to meet the membersand gain input from
>> them.2. The introduction of the online waivers, which
>> will reduce postageand paper costs.3. The Corporate
>> office also negotiated a reduction in rental fees inour new
>> lease.4. The Directors and corporate staff have realigned
>> our investmentsin minimize the impact of a
>> volatile market.Looking forward, we see the potential for
>> continued financial distressfor the Organization. In light
>> of the 2008 loss, the Directors andcorporate staff are
>> currently working through a variance analysis. Thefirst
>> results of this analysis are the measures noted above.
>> Movingforward, we are looking at a variety of options to
>> reduce costs, andincrease our revenue. Please take a moment
>> to review the list of ideasbelow and send us your comments
>> and ideas. We understand that some ofthe options will be
>> unpopular in areas of the Society. This should notbe
>> considered a complete list of all options, nor should any of
>> theseitems be considered as a "done deal". While
>> we have no wish to undulychange the spirit of our shared
>> activity, we feel strongly that at thistime all options must
>> be placed on the table, examined andreviewed.1.
>> Development of a Grant program, specifically target at
>> supportingour publications and A&S activities.2.
>> Offering Tournaments Illuminated and The Compleat
>> Anachronistsubscriptions to non members, libraries, schools,
>> and others.3. Raising the rate for these publications to
>> our members. 4. Adding new tiers of member sponsorship of
>> the SCA such as a Donoror Sponsor level of involvement.5.
>> Examining the different membership participation options,
>> with ashort term "event pass" for new
>> participants.6. Increased funding from sales of SCA
>> related merchandise (via CafePress or other similar sites
>> Individual Kingdoms currently have gone inthis direction. We
>> are not looking to curtail this activity. )7. Raising
>> membership rates.Please note that the Organization is
>> capable of funding the forecasteddeficit for 2008 and 2009
>> from our reserves. However, with the currenteconomic
>> environment and the SCA's challenges, this does not seem
>> tobe a prudent solution.As ever, the Board of Directors
>> and Corporate staff needs your input andideas.Comments may
>> be sent to; comments at sca.org. Please recall that this is
>> acomment only address. The Directors all see the email from
>> this commentsaddress, however we do not offer individual
>> responses.Thank you for your time and review of this
>> material.--Patrick AndersonPresidentSociety for Creative
>> Anachronism, Inc.president at sca.org952-412-4112Comments are
>> strongly encouraged and can be sent to:SCA Inc.Box
>> 360789Milpitas, CA 95036You may also email
>> comments at lists.sca.org.This announcement is an official
>> informational release by the Society forCreative Anachronism
>> , Inc. Permission is granted to reproduce thisannouncement
>> in its entirety in newsletters, websites and electronic
>>
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>>
>>
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