Re: Official CFC Candidates for President
Okay, thanks for the questions.
Contribution from Foundation $ 5,447 - each spring we get a cheque from the Foundation for earnings on our investments. We received $ 7,263 last summer and we record 1/12 of it each month. 9/12 = $ 5,447
Contributions to Chess Foundation - $ 2,340 - These are new life memberships purchased. The memberships are paid to the CFC office then sent to the Foundation to be invested. We include these in our membership revenues and clearly identify them in the notes to the financial statements.
Contributions to clubs and affiliates - $ 5,220 - Includes the subsidy to the Canadian Open 2010 of $ 1,378 when we waived the rating fees (CFC and FIDE) at the AGM2010. The balance of $ 3,842 represents donations made to specific events from sponsors requesting tax receipts. The receipts are included in donations in our revenues.
Other program $ 87,347 - the breakdown can be found in the notes to the financial statements (the next page).
Breakdown is:
Olympics - $ 14,312
Youth program - $ 70,435 (mostly the WYCC)
Kalev Pugi fund - $ 2,600
The WYCC numbers include all the monies that flows thru the CFC office to cover tournament and hotels costs for all players and accompanying parents and team officials.
Gary - does that help. :)
Originally posted by Gary Ruben
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Contribution from Foundation $ 5,447 - each spring we get a cheque from the Foundation for earnings on our investments. We received $ 7,263 last summer and we record 1/12 of it each month. 9/12 = $ 5,447
Contributions to Chess Foundation - $ 2,340 - These are new life memberships purchased. The memberships are paid to the CFC office then sent to the Foundation to be invested. We include these in our membership revenues and clearly identify them in the notes to the financial statements.
Contributions to clubs and affiliates - $ 5,220 - Includes the subsidy to the Canadian Open 2010 of $ 1,378 when we waived the rating fees (CFC and FIDE) at the AGM2010. The balance of $ 3,842 represents donations made to specific events from sponsors requesting tax receipts. The receipts are included in donations in our revenues.
Other program $ 87,347 - the breakdown can be found in the notes to the financial statements (the next page).
Breakdown is:
Olympics - $ 14,312
Youth program - $ 70,435 (mostly the WYCC)
Kalev Pugi fund - $ 2,600
The WYCC numbers include all the monies that flows thru the CFC office to cover tournament and hotels costs for all players and accompanying parents and team officials.
Gary - does that help. :)
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