NORTHWEST BASKET WEAVERS – VI PHILLIPS BASKETRY GUILD
NORTHWEST BASKET WEAVERS – VI PHILLIPS BASKETRY GUILD
NORTHWEST BASKET WEAVERS – VI PHILLIPS BASKETRY GUILD
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<strong>NORTHWEST</strong> <strong>BASKET</strong> <strong>WEAVERS</strong> <strong>–</strong> <strong>VI</strong> <strong>PHILLIPS</strong> <strong>BASKET</strong>RY <strong>GUILD</strong><br />
Revised 7/10/11<br />
INCOME SOURCE CHARGED TO: INCOME GOES TO:<br />
Budget Income Items to Operate the Guild come from:<br />
Dues<br />
Budget Income / Operating Expenses<br />
Raffles <strong>–</strong> meetings<br />
Budget Income / Operating Expenses<br />
Basket Raffles<br />
(retreat & other)<br />
Materials Auctions <strong>–</strong><br />
Budget Income / Operating Expenses<br />
Nov. Meeting<br />
Retreat<br />
Newsletter Advertising<br />
Budget Income / Operating Expenses (ie<br />
newsletter)<br />
Up to 10% of unencumbered<br />
Retained Earnings<br />
(Allowed to balance the budget if<br />
necessary)<br />
Activities & Other Sources of Income:<br />
Retreat (includes only general Breakeven (max 5-10% Budget Income / Operating Expenses<br />
income/expenses for event) profit)<br />
Workshops <strong>–</strong> (includes retreat<br />
workshops)<br />
Breakeven (max 5-10%<br />
profit)<br />
(Retreat: retreat classes less<br />
retreat teaching expense)<br />
30% to Education / Speakers Fees<br />
35% to Workshops<br />
35% to Grants<br />
Guild Merchandise Small profit 100% to Grant Fund<br />
Field Trips Breakeven Budget Income / Operating Expenses
1.<br />
ENCUMBERED FUNDS<br />
FUND SOURCE OF FUNDS PURPOSE<br />
General Reserve for Operating<br />
Expenses<br />
Retained Earnings<br />
To provide the guild a reserve of 1 year operating<br />
expenses (or a majority of) and protect against a<br />
downturn in finances. This would allow the<br />
guild time to react and generate needed operating<br />
funds. (A protection against the days when we<br />
were constantly raising money to support the<br />
Grant Fund<br />
Income from Guild<br />
Merchandise profit & 35%<br />
profit from Workshops<br />
guild.)<br />
Provides grants to members for educational<br />
studies<br />
Workshops<br />
Show Fund<br />
Memorial Funds - Other<br />
Jean Leik Fund<br />
Educational Funds <strong>–</strong> Speaker<br />
Fees<br />
Retreat<br />
35% of any profits from<br />
workshops<br />
Guild’s Commission from<br />
sale of baskets at shows,<br />
profit on entry fees<br />
Donations in memory of a<br />
member<br />
Guild proceeds from sale of<br />
Jean’s materials<br />
30% of any profits from<br />
workshops<br />
(Original funding from<br />
retained earnings.)<br />
Allows a contingency fund specifically for<br />
workshops to support unanticipated expenses and<br />
to support the expense of workshops to keep<br />
costs low for members.<br />
Funds retreat feature teacher and workshop<br />
teacher travel expense; Basket Days<br />
Supports expenses for shows<br />
Used to support an expense or activity, board<br />
decision<br />
Per Jean’s wishes, these funds are specifically<br />
designated to support education outreach /<br />
activities for children<br />
OTHER FUNDS<br />
Funds educational activities to benefit members<br />
(no cost to members) and the public (no cost or<br />
nominal cost): Speaker Day, Special Speakers<br />
(including retreat), retreat mini-demos, public<br />
outreach, demonstrations & hands-on activities.<br />
A reserve for unexpected retreat cancellation.
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