{"id":4428,"date":"2018-10-03T09:00:07","date_gmt":"2018-10-03T13:00:07","guid":{"rendered":"https:\/\/cmubuggy.org\/news\/?p=4428"},"modified":"2018-11-14T22:13:40","modified_gmt":"2018-11-15T02:13:40","slug":"baa-financial-report-fiscal-year-2018","status":"publish","type":"post","link":"https:\/\/cmubuggy.org\/news\/2018\/10\/baa-financial-report-fiscal-year-2018\/","title":{"rendered":"BAA Financial Report &#8211; Fiscal Year 2018"},"content":{"rendered":"<p>Hey everyone, it\u2019s your friendly neighborhood BAA Treasurer!\u00a0 There were no rolls this weekend, so instead of your standard rolls report, we here at BAA HQ decided to give you a financial report!\u00a0 We\u2019re often asked a few questions related to finances, such as \u201cwhere do my donations go?\u201d and \u201chow much money does the BAA have?\u201d\u00a0 So this year, we\u2019ve decided to increase the BAA\u2019s transparency and open the books!<!--more--><\/p>\n<p><strong>Question 1: \u201cWhere do my donations go?\u201d<\/strong><\/p>\n<p>You may have noticed, for the last couple of years, that the Buggy Alumni Association logo has been strewn about the course, as well as on cmuTV during coverage of Raceday.\u00a0 While this may seem like a perfect synergistic opportunity to promote the BAA (and it is!), for the last 2 years the BAA has actually be an official sponsor of Raceday.\u00a0 One of our founding missions is to support the undergraduate buggy community, and we have been fortunate enough, thanks to the generous donations of our members, to be able to pick up the slack when other sponsorships have fallen through.\u00a0 This sponsorship costs approximately $5,000 (due to some bookkeeping matters, it was slightly larger in FY18), and this was, by far, our largest single expense in FY18.<\/p>\n<p>We do also have some other Raceday-related expenses that aren\u2019tdirect sponsorship.\u00a0 The website itself costs money, so some of our donations go to support our online presence.\u00a0 We hand out various items at Raceday, such as the ever-popular Raceday Guides, which requires us to pay for the printing in the necessary quantities. We also host multiple events during Carnival (the Finals Auction, the panel during the Buggy Showcase), for which we provide catering, as well as any non-food\/drink costs associated with the event.<\/p>\n<p>Then there are the non-Raceday costs.\u00a0 There are several programs throughout the year involving buggy (events such as Tom Wood\u2019s History of Buggy presentation), which we help support.\u00a0 We also provide food during certain morning rolls, such as on Parent\u2019s Weekend and during Homecoming.<\/p>\n<p>In some years (though not FY18), we also have some one-off costs related to specific BAA projects, such as the new timing systems in use during Raceday 2017, or the lego buggy sets for the Kidzone that you see during Carnival.\u00a0 We are always happy to support alumni projects that benefit the buggy community as a whole, and it\u2019s exciting when something new hits our radar.\u00a0 In fact, we may have some ideas for the upcoming year.<\/p>\n<p>Our\u00a0 total expenses in FY2018 were $6,440.69.\u00a0 Below is an overall breakdown of those expenses:<\/p>\n<p><a href=\"https:\/\/cmubuggy.org\/news\/wp-content\/uploads\/2018\/10\/FY18Expenses.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-4429\" src=\"https:\/\/cmubuggy.org\/news\/wp-content\/uploads\/2018\/10\/FY18Expenses-300x282.jpg\" alt=\"\" width=\"300\" height=\"282\" srcset=\"https:\/\/cmubuggy.org\/news\/wp-content\/uploads\/2018\/10\/FY18Expenses-300x282.jpg 300w, https:\/\/cmubuggy.org\/news\/wp-content\/uploads\/2018\/10\/FY18Expenses-768x722.jpg 768w, https:\/\/cmubuggy.org\/news\/wp-content\/uploads\/2018\/10\/FY18Expenses.jpg 907w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p><strong>Question 2: \u201cHow much money does the BAA have?<\/strong>\u201d<\/p>\n<p>So how much did we bring in?\u00a0 Our two main sources of income are membership donations and our lead truck auction.\u00a0 Although we require a $10 donation in order to be an official BAA member (which entitles you to great perks such as the Raceday Preview and the Raceday Recap), we welcome donations of all shapes and sizes.\u00a0 Luckily for us, we have some very generous alumni that donate more than $10.\u00a0 Unfortunately, our membership was down this year \u2013 we only had 82 official members in FY18, which is our lowest total in a number of years.\u00a0 Those 82 members donated a total of $3,339.94 in FY18.<\/p>\n<p>The Lead Truck Auction has been our only real fundraiser for the last few years.\u00a0 And while it does well to bring in some money for us, as the \u201cnovelty\u201d of the lead truck has worn off, the amount that we raise from the auction has decreased.\u00a0 The first year of the lead truck auction brought in roughly $2,000.\u00a0 But in recent years, we have failed to achieve our $1,000 goal; this year we brought in $783.<\/p>\n<p>We also occasionally receive company matching donations (certain companies match an individual\u2019s donation to a non-profit organization), though we did not receive any in FY18.<\/p>\n<p>Our total income in FY2018 was $4,147.94.\u00a0 Below is a breakdown for all of the BAA\u2019s income in FY18:<\/p>\n<p><a href=\"https:\/\/cmubuggy.org\/news\/wp-content\/uploads\/2018\/10\/FY18Income.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-4430 size-medium\" src=\"https:\/\/cmubuggy.org\/news\/wp-content\/uploads\/2018\/10\/FY18Income-300x286.jpg\" alt=\"\" width=\"300\" height=\"286\" srcset=\"https:\/\/cmubuggy.org\/news\/wp-content\/uploads\/2018\/10\/FY18Income-300x286.jpg 300w, https:\/\/cmubuggy.org\/news\/wp-content\/uploads\/2018\/10\/FY18Income.jpg 752w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>When you put the two together, it looks like this:<\/p>\n<p><a href=\"https:\/\/cmubuggy.org\/news\/wp-content\/uploads\/2018\/10\/FY18IncomeExpenses.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-4431\" src=\"https:\/\/cmubuggy.org\/news\/wp-content\/uploads\/2018\/10\/FY18IncomeExpenses.jpg\" alt=\"\" width=\"600\" height=\"291\" srcset=\"https:\/\/cmubuggy.org\/news\/wp-content\/uploads\/2018\/10\/FY18IncomeExpenses.jpg 932w, https:\/\/cmubuggy.org\/news\/wp-content\/uploads\/2018\/10\/FY18IncomeExpenses-300x145.jpg 300w, https:\/\/cmubuggy.org\/news\/wp-content\/uploads\/2018\/10\/FY18IncomeExpenses-768x372.jpg 768w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<p>You\u2019ll notice from this comparison of income and expenses that, well, we spent far more than we brought in this year.\u00a0 The Raceday sponsorship <em>alone<\/em> was more than we brought in during FY18.\u00a0 And the results were similar in prior sponsorship years.\u00a0 Thanks to our generous donors in the past, we had a bit of a nest egg built up and were able to support these extra expenses.\u00a0 But at the current rate, we may only be able to do that for one or two more years.\u00a0 And that\u2019s assuming that all our other expenses are kept to a minimum, which may mean fewer alumni projects supported.<\/p>\n<p>This isn\u2019t meant to be a \u201cALL HOPE IS LOST!\u201d, \u201cTHE SKY IS FALLING\u201d type of post that scares you into donating.\u00a0 We\u2019re in decent financial shape for now, and we here at BAA HQ are working to put us on more solid financial footing going forward.\u00a0 No one is obligated to donate, and we welcome all visitors and fans of Buggy, regardless of whether you are a BAA member.<\/p>\n<p>But if you do want to help support the BAA and the buggy community at large, what can you do?\u00a0 Well, there are a few options.\u00a0 The easiest way is to become a member of the BAA!\u00a0 If you liked buggy back when you were at CMU, or you find yourself on the BAA website an unusually large number of times during the course of the year, <a href=\"https:\/\/securelb.imodules.com\/s\/1410\/giving\/form-social.aspx?sid=1410&amp;gid=1&amp;pgid=382&amp;cid=990&amp;appealcode=A3291&amp;dids=98\">JOIN US BY DONATING HERE<\/a>!\u00a0 It only costs a tax-deductible $10, and in addition to helping support the BAA, it also gives you access to our Raceday Preview, Raceday Recap, and any BAA-only events that we throw!\u00a0 It\u2019s the easiest way to help support the Buggy community.\u00a0 Plus, it makes you a Loyal Scot for the year, and CMU offers perks to Loyal Scots. Of course you don\u2019t need to be affiliated with buggy, or even CMU, to donate \u2013 We accept everyone!\u00a0 So if you are one of those people that has photos of Buggy at your desk, constantly talks to people at work about your races that time your team was \u201cgood\u201d back in 2009, and convinces them to watch Raceday live even though you\u2019re now an alum, see if they would have any interest in donating!\u00a0 It\u2019s still a tax-deductible donation for them, even if they have no connection to the sport.\u00a0 The last thing is to see if your employer offers a matching donation.\u00a0 This costs you nothing other than what you were already donating, but gives the BAA some extra funds.\u00a0 CMU\u2019s donation page even has a helpful search function to see if your company matches donations to CMU.<\/p>\n<p>We\u2019re planning for this type of financial report to be presented on an annual basis going forward, so that all BAA members can hold the board accountable for what we do to support the buggy community.\u00a0 So if there\u2019s any other information that you are curious about, or think would be useful, let us know, and if we can provide it, we will!<\/p>\n<p>We here at BAA HQ are looking forward to the 99<sup>th<\/sup> Raceday this April, and with some fun things planned for this year, we hope you\u2019re excited as well.\u00a0 See you at the course!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hey everyone, it\u2019s your friendly neighborhood BAA Treasurer!\u00a0 There were no rolls this weekend, so instead of your standard rolls report, we here at BAA HQ decided to give you a financial report!\u00a0 We\u2019re often asked a few questions related to finances, such as \u201cwhere do my donations go?\u201d and \u201chow much money does the [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4],"tags":[19],"class_list":["post-4428","post","type-post","status-publish","format-standard","hentry","category-buggy-alumni-association","category-general-interest-buggy-stuff","tag-financial-report"],"_links":{"self":[{"href":"https:\/\/cmubuggy.org\/news\/wp-json\/wp\/v2\/posts\/4428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cmubuggy.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cmubuggy.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cmubuggy.org\/news\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/cmubuggy.org\/news\/wp-json\/wp\/v2\/comments?post=4428"}],"version-history":[{"count":10,"href":"https:\/\/cmubuggy.org\/news\/wp-json\/wp\/v2\/posts\/4428\/revisions"}],"predecessor-version":[{"id":4445,"href":"https:\/\/cmubuggy.org\/news\/wp-json\/wp\/v2\/posts\/4428\/revisions\/4445"}],"wp:attachment":[{"href":"https:\/\/cmubuggy.org\/news\/wp-json\/wp\/v2\/media?parent=4428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cmubuggy.org\/news\/wp-json\/wp\/v2\/categories?post=4428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cmubuggy.org\/news\/wp-json\/wp\/v2\/tags?post=4428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}