[Businessmtg] Present Prudent Reserve & Agenda Item #1

[Kimberly Perry]

Thanks Steve!
I would say then, based on the information we have, that it makes sense to have a full year in reserve. If we don't have any idea of what giving trends might be, it is responsible and prudent to make sure any funds collected cover our financial commitments first before any other efforts are looked at.

-----Original Message-----
>From: Steve Rankin <steve at serenitysys.com>
>Sent: Jan 9, 2008 3:37 AM
>To: justkeepswimmingkp at peoplepc.com
>Cc: ASP Business <businessmtg at asp-afg.org>
>Subject: RE: [Businessmtg] Present Prudent Reserve & Agenda Item #1
>
>In answer to Kimberly's question about ASP's average donations over the last
>3 years, etc. . . 
>
>ASP was 100% funded by me personally until last year, so we do not have a
>long-term donation history.  We tried on 3 occasions to get ASP
>self-supporting during those first 10 years and it didn't work for various
>reasons.  So, we don't have the history you are asking about.  Additionally,
>part of the history that we do have is during the time when ASP was
>transitioning from my 10-year reign as List Administrator and List Owner to
>the new ASP with a new List Administrator and ASP as the List Owner.  It's
>just not possible to know what, if any effect the transition had on
>donations from the members until some time in the future when we can look
>back at this period.  
>
>Also, a prudent reserve is normally based on expenses, not income.  The idea
>is to have an ample reserve to pay those expenses should hard times happen
>and income dried up.  It's generally considered OK for us to focus on our
>expenses--that's how we pay our bills and how we keep our expenses in check.
>On the other hand, if we focus on our income, we lose sight of our expenses
>and they can run away while we focus on fundraising.  I see it as a subtle
>tool that helps us keep our spending within our means rather than trying to
>find ways to make the money to support our spending.   
>
>As for donating to WSO, that's an entirely different topic that's on the
>agenda later.  
>
>Hugs,
>Steve
>
>
>
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