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Mr. Dunn explains in the magazine (at least in my wife's copy) that the reason the trustees lost about $20,000 in fiscal year 2012 (9/1/2011 to 8/31/2012) is that they had anticipated that loss and that they had planned for it but due to that loss and their plans it was necessary to raise dues.
One difficulty with his explanation is that for fiscal year 2012 the trustees made, not lost, around $20,000. Another difficulty is his claim that the report was not available until May. The report is dated February 11, 2013 and his explanation therefore asks the reader to believe that the CPAs withheld it for three months. Another difficulty is that although the publisher has now advised members that the report in the magazine is incorrect due to a transposition error, the otherwise identical report on the website is correct and has been posted for a considerable period of time. Incidentally, such reports are customarily furnished by CPAs with the tax returns since the report is identical to the fiscal portion of the return. The tax return, containing the same fiscal information, was signed by treasurer Nielsen on March 5, 2013, one day after the trustees held their private board meeting, most likely attended by Mr. Nielsen as an officer, at the LAX Hilton. The return, filed March 5, 2013, includes a statement under penalty of perjury that returns are made available to the trustees at their private meeting. No mere member would know whether or not the return was actually shared with trustees, since their meeting is private, but the return itself says it was.
One difficulty with his explanation is that for fiscal year 2012 the trustees made, not lost, around $20,000. Another difficulty is his claim that the report was not available until May. The report is dated February 11, 2013 and his explanation therefore asks the reader to believe that the CPAs withheld it for three months. Another difficulty is that although the publisher has now advised members that the report in the magazine is incorrect due to a transposition error, the otherwise identical report on the website is correct and has been posted for a considerable period of time. Incidentally, such reports are customarily furnished by CPAs with the tax returns since the report is identical to the fiscal portion of the return. The tax return, containing the same fiscal information, was signed by treasurer Nielsen on March 5, 2013, one day after the trustees held their private board meeting, most likely attended by Mr. Nielsen as an officer, at the LAX Hilton. The return, filed March 5, 2013, includes a statement under penalty of perjury that returns are made available to the trustees at their private meeting. No mere member would know whether or not the return was actually shared with trustees, since their meeting is private, but the return itself says it was.
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