Zundfolge / Treasurer's Report

2022 Treasurer's Report

By Dave Cohen | January 29th, 2023
2022 Financial Reports2022 Financial Reports

Each year the chapter is required to report its finances to membership.

In 2022 we hosted a full complement of driver education events and tours while we resumed our larger shows and events including some special events like our 50+2 celebration and the special Wundercars show.

As an all-volunteer not-for-profit club, our goal is to break even or be slightly positive. After large losses in 2020 from fewer and canceled events, we returned to profitability in 2021 and again in 2022 with a profit of $11,266. We continued to keep costs low in general overhead, including storage and electronic board meetings. Our events performed above breakeven for the year HPDE contributing $5,874, Tours $1,646 and other shows and events $720. Our online media from our relaunched website had a cost of $1,060 for the year net of online advertising revenues from our sponsors. This is an improvement versus the former costs of designing, printing and mailing the Zundfolge.

We can also be proud that the club contributed $10,282 to charities including Food Lifeline, LEO and the BMW CCA Foundation that were part of the sponsorship requirements for some of our events. Our volunteers and participants contributions made this happen.

Membership unfortunately has resumed its downward decline reducing the dues we receive from National.

The Income Statement is presented by functional area for clarity. Each line is revenue less related expenses. Member dues and advertising revenues covered administration and online media costs while Driver Education, Tours, and Social Events all more than covered costs. Our balance sheet remains strong.

We expect 2023 to be closer to breakeven with declining membership and participation, rising costs from the track and for tours as well as hosting additional member events.

2022 Treasurer Report2022 Treasurer Report2022 Treasurer Report

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