The Club’s fiscal year runs from July 1 through June 30. In the fiscal year ended June 30, 2016, the Club had income of $10,721 and expenses of $11,623, leading to an operating loss of $901. (All numbers here are rounded to the nearest dollar.)
- Income arises from membership dues ($10,135) and interest. The latter was unusually high this year, as we had a certificate of deposit mature and recognized all 59 months’ of interest at maturity.
- The five events for which we charged admission about broke even, leaving us with a surplus of $334, and we expended $2,088 on the autumn “welcome to your city” event and the two Global Networking Nights.
- As it has in the past several years, the Club contributed $3,000 to the Colorado Harvard College Scholarship Fund. We received $1,006 in directed donations for this purpose and added $1,994 of general funds. More information about this fund is found in this article. We also contributed $350 to There With Care as part of our April service events.
- The Schools Committee spent $3,303 on its operations, including $1,415 to conduct two interview days in January $682 on receptions for admitted students, and $800 in subsidies towards admitted students’ travel to Cambridge for the Visitas weekend. The Steering Committee expended $997 on its monthly and special meetings.
- A new expense category for us this year was Directors’ and Officers’ insurance as well as a general liability policy for the Club. The annual premium for these policies was $828. We spent $556 on postage and mailings.
- During the year, we had 72 members join at the Basic Level and 32 extend their memberships at a discount. We also had 13 Sponsor-Level and 15 Patron-Level memberships, which together account for over half of our membership revenue; many thanks to these loyal supporters!
- The Club’s net worth was $21,974 at the start of the fiscal year and ended at $21,073.
Questions about the club's finances may be directed to president@rmhuc.org or treasurer@rmhuc.org.