Radio Free Registry

[Steve Heinrichs]

Pat,

Thanks for sharing this. Very helpful as to Registry leadership thinking. Odd comment from George as to losing money since the "compilation" of tax return numbers----not actually accrual basis financial statements----says they made money (unless I misread it).

The biggest undisclosed financial matter/recording/entry that would get the books closer to auditable accrual basis ones would beto add the liability for magazine costs associated with dues. That is, dues are paid for a year. Three months, say, down the road, only 3/12 of the payment should be income and 9/12 should be a liability for future magazine costs.

As to the minutes, what we be so difficult in getting them posted in perhaps 3-4 days? Seems fairly easy.

Thanks also to Bruce for the serious discussion of many issues.

Steve Heinrichs

[356JAGER]

DELETED

[bbspdstr]

Thanks, Pat. Your quote from our old friend George Dunn includes a very key sentence: "We have put as much pressure on the publisher as we can to hold, or even reduce publishing costs wherever possible."

That seems a little awkward and allowing that the Registry actually IS a magazine, first and foremost, and that the publisher is more than a mere vendor. He is an officer of the organization, also.....yes, by bylaws, but that still seems like a conflict of interest. This is not meant to disparage the excellent work, but if a budget is created that allows 'X' dollars for the magazine...that's it. It's money in vs money out and the details that go with that simplicity that also count and can make a huge difference.

It's up to the trustees and the treasurer and accountants to determine what the publisher gets to use for the Registry magazine. If this is over their heads and they need better advice, spend some money on that, first, or, maybe, we are being told subliminally that the "Club" really IS a 'Magazine,' full circle and disregarding the advent of the Internet. (hint, hint)

I don't blame the publisher. He's using the old saying; "You can't get a 'no' if you don't ask." He wouldn't like it, but I'll bet he could put out a stellar magazine/newsletter for $100k if that's all there was!

According to the latest Registry's accountant's numbers (as printed in the latest issue), RPM Publishing got less in 2012 than in 2011, down to $226,671 (or 62.78% of club expense) from the previous $309,159 out of the $389,374 in revenue (or 79.4%). The Membership related expenses remained almost the same for those two reporting periods, but they too, as I am to understand, go to RPM as do 'commissions' for ads sold. Still, efforts don't show a decrease in magazine quality.... (but hey, has anyone else seen the latest version of the 'new' PCA 'Panorama'? Wow!)

Meanwhile, as I reread this published Registry 'report,' I see that the "belt-tightening" includes Board meeting expenses for 2011 that were $7,590 rose to $12,446 in 2012. Can anyone explain that? Maybe it's the rising cost of video conferencing?

[Steve Heinrichs]

Guys,

I think but am not certain that there was one less issue in 2012.

Anyhoo---hey, it is 19 July 2013. The current fiscal year for the Registry ends in less than 6 weeks. I assume (bad idea maybe)that the Trustees havesomeclue asto how THIS year is doing. Might be nice to share that with the membership before the usual timeline that means about April of 2014.

Steve Heinrichs

[bbspdstr]

One less issue? Thanks, Steve, I guess I wasn't paying attention or it's not noted anywhere I've read and I guess I wasn't keeping track on my own. So I guess less printing, less to charge to the Registry, but the 'club info' says an issue every 2 months...that would be 6 a year, every year. I wonder if a bigger issue quarterly would help the ailing budget.....where's the 'publishing consultant'? Adam? Thoughts?

Meanwhile, I finally got to read the new editor's efforts in the latest Pano. Those who read this and are still in PCA will know what I mean. Different size, look and layout. Content is surprising, in that older Porsche model articles are being offered.

The cover picture of a white Gmund leads readers to an artistically illustrated story about that 356 now in the hands of Jeff Zwart, ex-Jim Barrington, with copious comments from Wolfgang Porsche, who is NOT in possession of a Gmund 'Limousine' (Coupe) and obviously a 'little' envious of anyone who has one of the few left. The article also shows Jeff Zwart's 'favorite' Porsche (among the many he owns), an also-white '53 356.

I would say that this 'scoop' by PCA's publication, really now two issues in a row, the last with a NY architect's Roadster with the Frank Lloyd (not Adam) Wright designed home of the late Max Hoffman) could be real competition for the Registry if this format is continued.

BTW, Pano is monthly and still has classifieds to go with a good website and much better and more timely financial statements and published audits in the revitalized magazine for about the same membership fee as the Registry. Looks like it's The Year of the Full Circle.... in Porsche clubs anyway.

[Steve Heinrichs]

The "new" Pano is just supurb! Kudos to Pete Stout and his team. One couldjust "feel" that Pete's move would refreshen Pano and more. I think he is adding much value.

Steve Heinrichs

[Steve Heinrichs]

Bruce,

Sorry--I am not sure but think one year got 5 issues in terms of accounting and the other year 7. Meaning just different timing as to the cost. If there were actual financial statements on the accrual basis (see PCA or Porsche Club Gwe would not need to wonder.

Steve Heinrichs

[admin]

Bruce-
The publishing schedule is 6 issues a year, but they probably flucuate by a few weeks here and there, so they might not all fall in the same fiscal year. Since the Registry is not a "time sensitive" publication they probably get a better deal from the printer by being somewhat flexible.
And before everyone gets on the Stout train, Steve will appreciate this, the one and only time I have had to threaten a lawsuit against a publication was because of Stout. Needless to say I didn't have to get legal and my materials and story were returned forthwith. But it came close to being a very expensive story for Excellence.

[bbspdstr]

Hey, Adam (and again, Steve), thanks for the observation of publishing and fiscal year aberration as an interruption of year/issue continuum...but while we are airing dirty laundry, 'Excellence' and woes with that rag, remember my 'sponsorship' $100 minimum for our 2008 ECH?

I dealt with Porsche-oriented vendors, John Hodgson dealt with corporate entities including Porsche AG, directly. I took a stab at 'Excellence' as a potential sponsor and although I got Dr. Brett to be a go-between (after about 10 years of articles of his 356 restorations, I hoped that would help), I was turned away by Pete with the excuse that the owner was uninterested with even supplying $100 or an issue for our goodie bags or "a few" to put on a table in the hospitality suite, let alone any money for support of anything else offered to over 500 attendees, viewers of our website (thank you again, Barry!) and exposure in the Registry magazine concerning event sponsorship.

The reasoning was arrogantly put by the owner and passed along by Pete that: (paraphrased) "Most Porsche enthusiasts already know about our magazine and buy it anyway...why should it be given away? And, we don't 'do' sponsorship." (And then, shortly thereafter, I noticed that they did sponsor another event, but I had dropped my subscription after that ECH denial, anyway. There has never been any doubt in my mind that a car magazine is the same as a car club.)

Nothing against Pete Stout, he did not control more than his editorial position...but I'm glad to see he has moved on over to Pano. I'm glad to see 'Excellence' had the wisdom to not let your confrontation 'go legal'...just as the Registry should not have let the situation with Steve go in that direction. And here 'we' are.........again, thanks Justin!

[admin]

I remember sponsoring that ECH, the "Bruce Shake-down" even though I supplied thousands $$$ in product (Rennsport DVD's) I was told I couldn't call myself a sponsor unless I met the cash $100 requirement. So I sent in my $100, Bruce missed his calling, he should have been an government tax collector with the fine print.
Sorry to hear Excellence didn't need the exposure. I have gotten great response from 9 Magazine, they always send a box of goodies when I need them.

[Steve Heinrichs]

Hi guys,

Just a couple of things re Excellence and interactions with Pete while he was there---I, too, had a not so perfect experience regarding the Porsche Race Car Classic for lung cancer research. No real point in describing it at this moment. Suffice To say that knowing how Pete personally supported the event monetarially and otherwise...and...from discussions over the years...my view is that the owner/publisher had/has some policies that Pete had to live with. And, like Everett at Samba and Justin here, it is that owner's "deal" and it is what it is. As to those of us who are doing all we can to help the Registry (although the Trustees disagree, we owe much to Everett and especially now Justin. Anyway, more comments in a minute re magissues and member count, but I do wish Pete much success at PCA.

Steve Heinrichs

[Steve Heinrichs]

re Magazine issues and Member count---

Just a little more re the former: I certainly can understand and have no complaint as to 5 issues in one year and 7 in another rather than 6 and 6, given timing, etc. No problem.

Except that when published financial information is really just typed out tax return data---on a "cash" basis, the number of magazine issues siginifantly impacts any real understanding of how well the Registry is doing.

My whole question at the beginning was related to this. When the former Treasurer was in place, he caused the Registry's financial reporting to specifically note that one should not jump to the conclusion that the R was flush with excess cash because the tax return data specifically did not show the cost of magazines requiredto honor dues obligations. I noted that that was no longer being disclosed and asked what it was. Then, well, the whole enchilada ensued.

So--there ya go.

As to member count---note that the R Forum now shows over 10,000 yet filings and comments and math suggest current membership is about 7,000. The likely difference is that 10,000 means all those who have ever been and the 7,000 is now. Interesting.

Steve Heinrichs

[Bill Sampson]

SJ:

PCA is a 501(c)(7) just like 356 Registry, Inc. is. Most car clubs that seek IRS recognition of non-profit status are so classified.


Bill

[Steve Heinrichs]

For those looking for a laugh today:

Note the latest issue of the Registry magazine. The tax return numbers are published. Now, while these are not actual financial statements as has been explained, the president, Mr. Dunn, explains the loss. Well, he sort of does and links it to the dues increase.

But---small problem---the columns are reversed and actually there was a gain (well, not really if actual accounting rules were followed, but accounting according to the Registry).

So, the editor sends an email blast and notes that the columns were reversed.

We 356 Registry members (me included as my lawyer and I believe I am one) await Mr. Dunn's revised explanation. Will it mean that the dues increase was not necessary?

Steve Heinrichs

[Pat]

I asked him (George Dunn) that question in the email exchange that I posted earlier on this thread and I got a confusing answer too.