Financial Report & Membership Status

[Shoot2Thrill]

Financial & Membership Report – August 1, 2020

With the help of Tina Cullison and Lorene Thompson, IHMSA, Inc. has transitioned from Wells Fargo Bank to Chase Bank and reflected those changes with PayPal. Rich Hawkins and Doug Edney are on the Chase account. The biggest reason for the bank change is proximity. The closest Wells Fargo branch to Doug is 4.5 hours away as compared to a Chase Bank which is 45 minutes away. Similar distances are true for Rich as well.

Since a change at headquarters and banks, much work still needs to be done on a detailed financial report. Ending statements from Wells Fargo which include some World Championship expenses and match fees need be included with the expenses and match fees applied to the Chase account. The next financial report will be detailed and finalized by January 2021.

Chase Bank Accounts:

Checking Account: $7,550.45

Savings Account: $74,544.28

Total: $82,094.73

$17,500 from the checking was recently deposited into the savings. The board decided to deposit funds over $7,500 from the checking to savings. We are still in the process of working with the new bank, and things are happening slowly but are happening.


PayPal Account:
$632.50


Cindy Smith Restitution as of June 1, 2020
$16,989.92


Membership Totals
2018  411 dues paying members

2019  337 dues paying members

2020  274 dues paying members (The pandemic very well may have affected this year’s dues, but the declining trend is alarming. We are working on ways to contact previous members and publicizing our sport.)

Life Members  615 (We are working to find out who may have deceased.)

[19 Turkeys]

I have made this suggestion many times over the past 5 years with promises of implementation but it has not happened. With the current changes taking place, this would be a good time to do so.

Please consider making the following changes to the financial statement.

1. Create a sub statement for the International (World) Championship showing income & expense.
2. Create a single line account under the income side of the financial statement entitled World Championship. This number would be black if income is positive red if negative.

Justification for this request is that it is impossible to determine if the match is a positive or negative project to income.

Yours,

Steve Ware
IHMSA # 33287L

[Shoot2Thrill]

Thank you for the suggestion. We intend to make changes based on membership requests and be transparent.

[i26963]

I know this thread is old, but I, too, would love to see actual financials of the World Championships.
I remember that the Internationals(now World Championship) was always supposed to be self supporting.
Is this still the case?
With the recent increase in sanction fees, it begs the question of what exactly are we getting for the increase.
We must print our own scorecards, the Ihmsa News has been reduced to 2 issues in 2020, 3 in 2019.
Lest anyone doubt my dedication to IHMSA, I have been a member since 1982, and shot most of 1981 before becoming a member.
At Little River Gun Club, Robert Walker, Ken Hale, Stephen Kuehl, and myself, have spent thousands of dollars from our own pockets and countless hours of work in the last two years, improving our range. After paying target setters at our matches, we have almost nothing left.So, doubling sanction fees is a big deal for us.
I fear that many ranges will just shoot unsanctioned matches. I have nothing to offer a new shooter when asking him to sign up as an IHMSA member.
Rant off. You don’t have to agree with me, but this is my perspective from a Co-Match Director. I’m not speaking for Robert, Ken, or Stephen, these are just my thoughts
Melvin Calliham
IHMSA # 26963

[braud357]

Thank you Melvin, you have touched upon several questions that I have wanted to ask 1

[19 Turkeys]

Part of the problem is that the bylaws REQUIRE publication of financials on a regular basis. The officers have violated this for years. This is one reason Mrs. Smith was able to embezzle from us. We must follow our bylaws & publish financials even if only published here!

Steve W.

[LOCKHART]

What is the word from the powers that be? I have seen this subject come up before, and never an adequate answer in reply. Do the "big dogs" just ignore the members, etc? There should be SOMEONE that is responsible for getting this info to the members. I'm thinking that as the good ship IHMSA is sinking, there should be somebody that is looking for the HOLE that is letting the water in. I renewed my membership last week, very reluctantly. I don't pay the extra to get the Ihmsa news, but if I had only gotten TWO issues I would be raising hell!

[i26963]

A couple more things that need to be made public.
What agreement does IHMSA have with OK regarding the WC? Is it in writing? If so, please make it known to the membership.
Specifically, in the event that OK decides to not hold the WC anymore, what becomes of the targets, mechanisms, etc.?
I know Jim Fields and his club put in a tremendous amount of work into hosting the WC, so please don’t think this is a slight to them. And they did a first rate job.
Thanks
Melvin

[aggshooter]

Originally posted in this thread 7 months ago

"IHMSA Sec/Treasurer position

We are currently looking for nominations to fill the position of IHMSA Secretary-Treasurer. If you are interested or know someone who may want to fill the current vacancy, please send your nomination to IHMSA President Doug Edney (douglasedney@yahoo.com) or to myself. Nominations will be evaluated and then forwarded to the Board for final voting for this position.

To be candid, the board has been discussing how we can split up the responsibilities of this position. In the past, it has been a case of overload, and we are looking at the best way to reduce the workload.

Tina Cullison has filled in this past year after spending 3 years working for us in getting a successful resolution to the embezzlement case. In working behind the scenes and without recognition, she has been a tireless worker in every endeavor and many times put the organization ahead of personal desires. Please join me in thanking her for all she has done for us."



7 months, and Still waiting for someone to step up

I've spent the last 2 days preparing an update from the YTD report Tina completed last June. It's not polished, but good enough I think to forward to our tax guy. It wasn't my job, didn't want it to be. I don't have a background in accounting. I sent the report to Doug a few hours ago for review before publishing. A more detailed report is in the works, it will be ready asap. BTW, the tax year ended only 8 days ago.

[i26963]

None of the questions I asked above asked for a financial report. Perhaps I should have started a new thread.
The reasons Doug gave for a doubling of sanction fees affect us Match Directors, too, perhaps, more so.
And my simple question in my follow-up post should be easy for a board member to answer...is there a written agreement with OK club pertaining to the WC?? If so, what are the particulars?
Melvin