Radio Free Registry

[S.J.Szabo]

Their

[356JAGER]

DELETED

[Carrera GT]

-MD-

[Steve Heinrichs]

All, please see my comments regarding this letter on the litigation thread.

Steve Heinrichs

[S.J.Szabo]

[Bill Sampson]

Yesterday, for the first time since I joined the Registry back in 2001 or 2002, the Registry posted a budget for fiscal year 9/1/2013 to 8/31/2014. The budget was, according to the NEWS drop down menu, adopted at the Board of Trustees meeting in October (presumably in Santa Fe). It is copied below in another color (formatting did not copy well) and can also be read by anyone here:
http://porsche356registry.org/registry-holiday/latest-news/525-356-registry-budget-for-fy-2014.html

Congratulations to the trustees and officers for taking this step after so many years of resistance.

A couple of comments regarding analysis of the budget: The net assets as of 9/1/2013 are stated to be $364,727. No one outside the board knows whether the books are closed, but, generally, any organization will be within a couple of bucks 6 weeks after the end of the year, so, that is a decent working number. The tax return (a public record) filed for the fiscal year ending on 8/31/2012 shows the net assets of the Registry to be $381,276. We should have confidence in that number, also reported in a recent issue of my wife's Registry magazine. We can conclude that the Registry lost $16,549 for the fiscal year ending 8/31/2013. Simple arithmetic.

Anticipated dues revenue is expected to be $350,000. If everyone purchases the cheapest subscription (magazine rate in the USA at $45) for one year only that would be 7777 subscriptions. That guesstimate for number of members is almost certainly way high and should be viewed as the outermost possibility although the membership chair could doubtless, if she so chose or was so directed, furnish a precise number.

The trustees anticipate legal and accounting fees of $7500, placing in question assertions there are more $10,000 deductibles to be paid in connection with the litigation. Certainly by the October board meeting all trustees were aware of both suits. That would be good news for the membership - at least they (and I with community property) will not be paying further for the trustees' defense according to the budget.

Publishing costs are listed as $270,000. Some might add the $17,000 in commissions for advertising, also paid to the publisher, but, that is up to the reader. Some might also add the $25,000 paid for membership to an employee or independent contractor associated with the publisher. Some might also add the share of insurance paid on behalf of the publisher to publication costs - I have been informed that the club pays that cost - for verification ask an officer or trustee; I would have no way of knowing how much that is. We can conclude, safely, that as with most car clubs the most expensive item is the club's publication.

With Brian O'Kelly on apparently permanent enforced vacation and with the readily apparent difficulties the Registry web site has experienced, the rebuilding would probably be seen by many as a decent expenditure for $30,000.

I have no idea what $9000 in bank charges might be. In a past year bank charges included computer software and similar, but, who knows at present

I repeat: It is refreshing that this budget has been made available and the officers and trustees should be commended for this glimpse at what they do. An informed electorate deserves much more in my opinion - meeting minutes being one example, but, this is an excellent start.



A budget for the current fiscal year has been approved by the trustees at their board meeting in October.
Porsche 356 Registry Inc.
Budget for the year ending August 31,2014

Revenue Amount %
Membership dues $350,000. 79.65
Advertising $66,000. 15.02
Porsche support $3,000. 0.68
West Coast Holiday $12,500. 2.84
(Factory sponsorship for two WCH; one ECH)
East Coast Holiday $6,250. 1.42
Interest $1,500. 0.34
Royalties $200. 0.05
Misc $0. 0.00
Total Revenues $439,450. 100.00

Expenses
Magazine publishing $270,000. 61.44
Membership services $25,000. 5.69
Insurance $25,000. 5.69
Holidays, events, mtngs $20,000. 4.55
Adv costs - agent fee $17,000. 3.87
Board meetings $17,000. 3.87
Internet web site $9,000. 2.05
Bank charges $9,000. 2.05
Advertising expense $2,500. 0.57
Legal and accounting $7,500. 1.71
Depreciation $200. 0.05
Supplies and postage $250. 0.06
Misc $1,000. 0.23
Website upgrade $30,000. 6.83
Total Expenses $433,450. 98.63

Excess (loss) of
Revenue over expenses $6,000. 1.37

Net assets -beginning of year $364,727.

Net assets - end of year $370,727.

[Carrera GT]

Yesterday, for the first time since I joined the Registry back in 2001 or 2002, the Registry posted a budget for fiscal year 9/1/2013 to 8/31/2014. The budget was, according to the NEWS drop down menu, adopted at the Board of Trustees meeting in October (presumably in Santa Fe). It is copied below in another color (formatting did not copy well) and can also be read by anyone here:
http://porsche356registry.org/registry-holiday/latest-news/525-356-registry-budget-for-fy-2014.html

Congratulations to the trustees and officers for taking this step after so many years of resistance.

A couple of comments regarding analysis of the budget: The net assets as of 9/1/2013 are stated to be $364,727. No one outside the board knows whether the books are closed, but, generally, any organization will be within a couple of bucks 6 weeks after the end of the year, so, that is a decent working number. The tax return (a public record) filed for the fiscal year ending on 8/31/2012 shows the net assets of the Registry to be $381,276. We should have confidence in that number, also reported in a recent issue of my wife's Registry magazine. We can conclude that the Registry lost $16,549 for the fiscal year ending 8/31/2013. Simple arithmetic.

Anticipated dues revenue is expected to be $350,000. If everyone purchases the cheapest subscription (magazine rate in the USA at $45) for one year only that would be 7777 subscriptions. That guesstimate for number of members is almost certainly way high and should be viewed as the outermost possibility although the membership chair could doubtless, if she so chose or was so directed, furnish a precise number.

The trustees anticipate legal and accounting fees of $7500, placing in question assertions there are more $10,000 deductibles to be paid in connection with the litigation. Certainly by the October board meeting all trustees were aware of both suits. That would be good news for the membership - at least they (and I with community property) will not be paying further for the trustees' defense according to the budget.

Publishing costs are listed as $270,000. Some might add the $17,000 in commissions for advertising, also paid to the publisher, but, that is up to the reader. Some might also add the $25,000 paid for membership to an employee or independent contractor associated with the publisher. Some might also add the share of insurance paid on behalf of the publisher to publication costs - I have been informed that the club pays that cost - for verification ask an officer or trustee; I would have no way of knowing how much that is. We can conclude, safely, that as with most car clubs the most expensive item is the club's publication.

With Brian O'Kelly on apparently permanent enforced vacation and with the readily apparent difficulties the Registry web site has experienced, the rebuilding would probably be seen by many as a decent expenditure for $30,000.

I have no idea what $9000 in bank charges might be. In a past year bank charges included computer software and similar, but, who knows at present

I repeat: It is refreshing that this budget has been made available and the officers and trustees should be commended for this glimpse at what they do. An informed electorate deserves much more in my opinion - meeting minutes being one example, but, this is an excellent start.



A budget for the current fiscal year has been approved by the trustees at their board meeting in October.
Porsche 356 Registry Inc.
Budget for the year ending August 31,2014

Revenue Amount %
Membership dues $350,000. 79.65
Advertising $66,000. 15.02
Porsche support $3,000. 0.68
West Coast Holiday $12,500. 2.84
(Factory sponsorship for two WCH; one ECH)
East Coast Holiday $6,250. 1.42
Interest $1,500. 0.34
Royalties $200. 0.05
Misc $0. 0.00
Total Revenues $439,450. 100.00

Expenses
Magazine publishing $270,000. 61.44
Membership services $25,000. 5.69
Insurance $25,000. 5.69
Holidays, events, mtngs $20,000. 4.55
Adv costs - agent fee $17,000. 3.87
Board meetings $17,000. 3.87
Internet web site $9,000. 2.05
Bank charges $9,000. 2.05
Advertising expense $2,500. 0.57
Legal and accounting $7,500. 1.71
Depreciation $200. 0.05
Supplies and postage $250. 0.06
Misc $1,000. 0.23
Website upgrade $30,000. 6.83
Total Expenses $433,450. 98.63

Excess (loss) of
Revenue over expenses $6,000. 1.37

Net assets -beginning of year $364,727.

Net assets - end of year $370,727.

Thanks for posting this idea now of a Budget.

What else has changed and now starting come forward as a result of the Lawsuit being filed against the 356 Registry Trustees? Some other types of acceptable accounting? ...perhaps publishing Meeting Minutes? Any Trustee terms limits yet? Talk Forum behavior-moderating. And how about individual Member rights?

There should be perhaps a lot more...

Michael Doyle

[Steve Heinrichs]

Guys---

Many, many questions. Let me just focus on one topic:

The Audit.

How does one reconcile president Dunn's comments about the audit being forthcoming and Trustee Skirmat's note that it is taking too long, to the 2014 budget??

These are cash basis numbers. Was the audit already paid for? Is there none for this year (which is that..2013 or 2014?). How does $7,500 cover tax returns, audit and legal fees?

When will the audit be done and for which year(s)?

Maybe this is Trustee Liberty's good news coming.

Steve Heinrichs

[Losthillsguy]

Bill, just to clarify...

I wasn't forced to leave, but in the face of my friends and co-volunteers being fired, I left with them on my own accord.

Also, Chuck did the lions share of work on the new website. I did most of the work transitioning from the old email list to the forum.

[Bill Sampson]

I stand corrected - thanks Brian. I stand by my thanks for the tremendous effort you put in helping the transition from the list to the forum - which worked pretty well.


Bill

[Meissen540]

Its funny how unrelated activities seem to converge in a common thread throughout life.
Just yesterday a small group of car guys met for lunch, and the topic of discussion moved to the lawsuit, specifically the banishment of some people from the Registry. One comment I believe was spot on: "if people were not acted against for voicing their opinions and asking questions, this probably would not have got this far down the road". I know that act does not sit well with me. That should have never happened. I will stand by that opinion.
So Brian's info prompts me to ask the question that came up yesterday.

How many people were "punished" for their comments/questions on the Talk List? What were these people told when ejected?

I personally was in disbelieve when Barry Briscoe was "disciplined". Although Barry and I did not agree on everything, I did respect his views, and the 1000s of hours he volunteered to the Registry and the Talk List to make it a better place. His work did make it better. How could he have said something so egregious to warrant that action?
Has anyone heard from Barry lately?
Barry, I would like to hear from you.
I would like to hear FACTS from those who were removed from the registry, and the Talk List. If you have emails, post them.
I would like to hear Barry's side of what transpired. Being a moderator, he might have some insight to the back office discussions at that time. Also Brian, what prompted you to say enough is enough?
I would also like to hear from those that agreed to, or actively removed people. I don't understand your thinking on this. Why was this a necessary and why was it good decision?

To me, this is the spark that lit the powder keg of everything going on. Sure, the debate of the minutes and the budget is real and important, but I believe these actions are important to understand, and clear up. After yesterday's discussion, I realized I don't know everything that transpired during that period, how many were impacted, and what they were told.
Please, no flaming posts, just facts.
Also, FWIW on this forum, I think its great that the Registry is now allowing the discussion to continue on the Talk List. In some ways that will help to heal all this. If nothing else, maybe its giving a new perspective to the leaders.
It is also becoming clear on the Talk List who the Spin Doctors are. This is important as we must question: do we want these people leading the Registry in the future?

And once again, for the record..... I consider myself neutral, but reading both sights to gather facts. As Joris stated, any outcome should include the detail of the proceedings so that get the facts and we do not repeat history in the future.

Tom McCoy
Atlanta

[S.J.Szabo]

[S.J.Szabo]

Jim Liberty
Post subject: Re: 356 Registry Lawsuit Update
PostPosted: Wed Oct 23, 2013 12:41 pm

As you might have read, we have made the Holiday contract between the Registry and the organizers, much more interactive, with a lot less risk. There will be a Trustee appointed as mentor for all of these events. Not to control, but to help with the more challenging aspects of the hotel contracts, budgeting, and schedules.

There will be updates on all the issues coming in the near future. I think you will like what you hear.

_________________
Jim Liberty

[roy mawbey]

Yes Tom, I also hope Barry is okay. I did ask someone a while back and they said he was fine. I havn't seen his presence on Samba either by the way. Goodness he put the hours in on the Registry, and on several occasions his comments back to me regarding questions I had made, were very fair and understanding. There is a difference sometimes in how we across the pond ' see things' compared to you in the States. He was fair to understand just that alone.

I hope he is enjoying driving his 356A as much as me, and that really that is what this is all about. When I am driving along by myself down a nice country road and the motor is running sweetly and the sun is out, forums are very secondary. Maybe, thats how he is feeling now, why get embrioled in something thats not really necessary in life?


[attachment:1]DSC_6862.JPG[/attachment]

Roy

[roy mawbey]

Attached the above photo that I should have resized




Roy