American Bonanza Society Financial Report 2010 Annual Meeting September 24, 2010.
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Transcript of American Bonanza Society Financial Report 2010 Annual Meeting September 24, 2010.
American Bonanza SocietyFinancial ReportAmerican Bonanza SocietyFinancial Report2010 Annual MeetingSeptember 24, 2010
Membership Revenue
• Slight increase in foreign postage.• Small increase in new membership dues.• Renewal dues steadily declining since 2007.
Magazine Performance
• Static profit margin of about 9%.• Increase in bad debts in recent years. • Production cost controls assist in profitability.
2005 – 2010 Projected
General & Admin. Revenue
Insurance Program Funds have been dropping 8-10% a year. Lower premiums from competitive market. How do we maintain this revenue stream?
General & Admin. Revenue
Investment Income UBS actively managing investment portfolio. Income and unrealized gain (loss) improving. Lower management fees are expected.
Convention & Merchandise
• Convention profitability on the decrease.• Location appears to play a key role.• Replaced with ABS Experiences in 2011.
• Store profitability has been stable & reliable.• New inventory sparked small sales increase.• Oshkosh sales were down this year.
General & Admin. Expenses
• Changes to travel & business expense policy.• Modernizing operating systems.• Effects of Executive Director transition.
Total Revenue & Expenses2005 – 2010 Projected
• Expected loss $72,000 in 2010.• Catching up with member needs.• Optimization of resources important to future.
American Bonanza Society Air Safety Foundation, Inc.Financial ReportIncluding BPPP, Inc. - a wholly owned subsidiary
American Bonanza Society Air Safety Foundation, Inc.Financial ReportIncluding BPPP, Inc. - a wholly owned subsidiary
2010 Annual MeetingSeptember 24, 2010
ASF & BPPP Donations2005 – 2010 Projected
• Donations to ASF & BPPP declined in 2010.• 2009 spike is $1,000,000 Maciel donation.
ASF Service Clinic Revenue and Expense
• Service clinics offered at breakeven price.• 239 planes inspected during FY 2010.
BPPP Revenue & Expense2005 – 2010 Projected
• Estimated $20,000 operating profit in FY10.• Incentive programs for first time attendees.• More flying attendees in FY10 than in FY09.
ASF & BPPP Net Assets2005 -2010 Projected
• 2008 drop attributed to economic factors.• 2009 spike from $1,000,000 Maciel donation.• 2010 sees improvement in investment market.