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

In 2023 we hosted a full complement of driver education events and car shows. We ran 5 HPDEs at Pacific and Ridge and 4 Car Control Clinics including the Women’s Car Control in partnership with SheJumps. We held 3 large shows – Burgers and BMWs, M-Car Day and Deutsch-Marque also including Porsche and Audi clubs as well as our Holiday Party which alas will no longer be able to be held at the XXX-Root Beer Drive In. We partnered with The Shop and BMW Seattle for an M-Car day in Seattle and hosted several tech events over the year.

As an all-volunteer, not-for-profit club, our goal is to break even or be slightly positive. For 2023, the club made $5,919 which was down $5,352 from 2022. We continued to keep costs low in general overhead, including storage and electronic board meetings. Our events this year cost the club: HPDE cost $1,982, Tours cost $673, and other shows and events cost $673. Our online media from our relaunched website returned $2,998 for the year net of online advertising revenues from our sponsors. This is a significant improvement versus the former costs of designing, printing and mailing the paper and PDF Zundfolge.

We can also be proud that the club contributed $5,741 to charities including Life Enrichment Options, Renton Lions Club, SheJumps and the BMW CCA Foundation that were part of the sponsorship requirements for some of our event venues. Our volunteer’s and participant’s contributions made this happen.

Membership unfortunately has continued its downward trend reducing the dues we receive from National. In 2023, we dropped 97 members or 6% resulting in membership dues of $11,719 which is used to support overall club expenses.

The Income Statement is presented by functional area for clarity. Each net income 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 used club resources. Our balance sheet remains strong.

We expect 2024 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.

2023 Financial Statement