VETERANS OF FOREIGN WARS OF THE UNITED STATES AUXILIARY NINE MONTH BUDGET REPORT SEPTEMBER 1, MAY 31, FISCAL YEAR

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1 VETERANS OF FOREIGN WARS OF THE UNITED STATES AUXILIARY SEPTEMBER 1, MAY 31, FISCAL YEAR Dee Guillory, National President Jan Passmore, National Secretary-Treasurer Virginia Carman, Budget Committee Chairman

2 VETERANS OF FOREIGN WARS OF THE UNITED STATES AUXILIARY EXPLANATION OF VARIANCES Page 1 The total revenue of the National Headquarters Fund is $2,676,920 (i.e %) of the budgeted amount and the total expenses are $2,581,478 (i.e %) of the budgeted amount, resulting in net gain of $95,442. Page 2 Revenues Mailing List and Label Sales is $125. The VFW took over the National Change of Address process for the member files that the VFW Auxiliary sends to them. Thus the VFW is now incurring the cost so the VFW Auxiliary is no longer reimbursed for this expense. This issue was previously discussed with the Council of Administration at the Mid-Year Conference in February, Revenues National Dues are $733,787. This is 46.11% of the projected amount. VFW Auxiliary National Headquarters budget spans over a two dues years. For annual members, HQ is able to recognize 4/12 of 2017 annual dues paid and 8/12 of 2018 annual dues paid. For life membership revenue, each year HQ is able to recognize only a portion of life memberships paid. An example is a member that was 27 years old & paid $200 for life membership near the end of December The life expectancy for this member is 82.4 years, thus the $200 in life membership revenue has to be prorated over years. This equates $3.61 per year of revenue that can be recognized. This revenue recognition has to be divided between National, Department, and the local Auxiliary. National s portion of revenue per year for this member would be $1.20. The calculation for recognizable life membership revenue is compiled and completed at the end of the fiscal year. Pages 4-5 National Senior Vice President, National Junior Vice President, National Chaplain, National Conductress, and National Guard - Miscellaneous are over budget. The National Officers requested special cards this year that resulted in an overage. This overage has previously been approved by the Council of Administration at the Mid-Year Conference in February, Page 6 National Headquarters Expenses Annual Membership Fulfillment Packages is $110,372. This amount is over budget by $20,372. This is the first year membership cards are being sent by National Headquarters. With the numerous issues that have come up, this line item is over budget. Page 1 of 2

3 National Headquarters Expenses Benefits is $75,195. This is 30.08% of the amount budgeted. One of the largest expenses for benefits is the retirement plan. This expense is calculated at the end of the fiscal year in accordance with the VFW and actuarial firm. Page 7 National Headquarters Expenses Printing is 9,284. This is 37.14% of the amount budgeted. With the potential changes coming to the membership application and programs, it was decided not to waste money on printing brochures and other items that would soon become antiquated. National Headquarters Expenses Salaries is 356,891. This is 59.28% of the amount budgeted. With one National HQ staff that was out most of the year who has now passed and with an open position, this amount is below budget. Programs Program and Awards Book is $11,795. This amount is over budget by $295. $11,795 was the amount charged for the production and printing of the Program and Awards book. This overage has previously been approved by the Council of Administration at the Mid-Year Conference in February, Page 9 Conferences and Meetings Ambassadors Briefing & Workshop is $26,646. This line item is over budget by $5,146. The overage can be attributed to additional attendees to the conference that had not been part of the conference in the recent past. This overage has previously been approved by the Council of Administration at the Mid-Year Conference in February, Page 12 National Home for Children VFW National Home Repairs and Renovations is $14,651. This line item is over budget by $4,651. This overage has previously been approved by the Council of Administration at the Mid-Year Conference in February, Page 2 of 2

4 NATIONAL HEADQUARTERS UNRESTRICTED FUNDS TOTAL REVENUES (PER PAGE 2) $4,162,890 $2,676,920 ($1,485,970) 64.30% TOTAL EXPENSES (PER PAGE 11) 4,162,890 2,581,478 1,581, % NET INCOME $0 $95,442 $95,442 ========== =========== ============ PAGE 1 OF 12

5 REVENUES ADMINISTRATION OF FUNDS $389,390 $222,367 ($167,023) 57.11% CANCER INSURANCE 90,000 39,315 (50,685) 43.68% GROSS PROFIT FROM TREASURERS' BONDS 162, ,411 17, % INVESTMENTS 1,300,000 1,036,026 (263,974) 79.69% MAILING LIST AND LABEL SALES 6, (6,375) 1.92% MISCELLANEOUS 8,500 8,473 (27) 99.68% NATIONAL CONVENTION 90,000 41,500 (48,500) 46.11% NATIONAL DUES 1,539, ,787 (805,713) 47.66% NET PROFIT FROM VFW SUPPLY DEPARTMENT 117,000 51,624 (65,376) 44.12% REVENUE FROM MEMBER BENEFITS 460, ,292 (95,708) 79.19% TOTAL REVENUES $4,162,890 $2,676,920 ($1,485,970) 64.30% ========== =========== ============ ======== PAGE 2 OF 12

6 EXPENSES NATIONAL PRESIDENT SALARY $65,845 $50,650 $15, % EMPLOYEE BENEFITS 5,050 3,875 1, % TRAVEL 62,000 53,608 8, % TRAVEL EXPENSES FOR DOCUMENTARIAN 10,500 3,911 6, % GIFTS FOR DEPARTMENT VISITS 2,500 1, % GIFTS FOR COMMANDER IN CHIEF % PRESIDENT'S JEWEL 2,000 1, % POSTAGE % PRINTING 1, % MISCELLANEOUS % 150, ,071 33, % PAGE 3 OF 12

7 NATIONAL SENIOR VICE PRESIDENT SALARY 9,623 7,402 2, % EMPLOYEE BENEFITS % TRAVEL 10,000 5,371 4, % MISCELLANEOUS (141) % 20,623 13,681 6, % NATIONAL JUNIOR VICE PRESIDENT SALARY 9,117 7,013 2, % EMPLOYEE BENEFITS % TRAVEL 9,010 6,352 2, % MISCELLANEOUS (191) % 19,002 14,242 4, % NATIONAL SECRETARY TREASURER SALARY 66,043 50,802 15, % EMPLOYEE BENEFITS 15,000 12,155 2, % TRAVEL 16,830 14,003 2, % 97,873 76,960 20, % PAGE 4 OF 12

8 NATIONAL CHAPLAIN SALARY 7,597 5,844 1, % EMPLOYEE BENEFITS % TRAVEL 2,670 2, % MISCELLANEOUS (191) % 11,017 9,081 1, % NATIONAL CONDUCTRESS / CONDUCTOR SALARY 7,091 5,455 1, % EMPLOYEE BENEFITS % TRAVEL 2,640 1, % MISCELLANEOUS (191) % 10,481 7,873 2, % NATIONAL GUARD SALARY 6,584 5,065 1, % EMPLOYEE BENEFITS % TRAVEL 2,715 1, % MISCELLANEOUS (191) % 10,049 7,730 2, % PAGE 5 OF 12

9 NATIONAL HEADQUARTERS EXPENSES ANNUAL MEMBERSHIP FULFILLMENT PACKAGES 90, ,372 (20,372) % ACCIDENT INSURANCE FOR OFFICERS AND EMPLOYEES 2,700 2, % AUDIT AND TAX SERVICES 34,000 31,725 2, % BANKING AND INVESTMENT SERVICE CHARGES 50,000 33,120 16, % BENEFITS 250,000 75, , % CHARTER KITS 6,000 3,089 2, % COMPUTER HARDWARE & SOFTWARE MAINTENANCE 10,000 2,448 7, % CONSULTING SERVICES, SUPPORT, & MALTA HOSTING 233, ,875 59, % CREDIT CARD PROCESSING FEES 20,000 9,560 10, % EMPLOYEE PROFESSIONAL DEVELOPMENT 20, , % INTERNET SECURITY 1, % MARKETING AND ADVERTISING 75,000 29,340 45, % MISCELLANEOUS 2, , % NATIONAL CERTIFIED RECRUITER TRAINER PROGRAM 15,000 3,318 11, % NATIONAL MAGAZINE 900, , , % OFFICE SUPPLIES 15,000 3,536 11, % PAYROLL SERVICE 5,000 2,636 2, % POSTAGE 45,000 17,771 27, % PAGE 6 OF 12

10 NATIONAL HEADQUARTERS EXPENSES CONTINUED PRINTING 25,000 9,284 15, % PROPERTY AND LIABILITY INSURANCE 22,000 21, % RENT, UTILITIES AND JANITORIAL SERVICES 182, ,036 45, % REPAIRS AND MAINTENANCE 5,000 2,174 2, % SALARIES 602, , , % TELEPHONE AND INTERNET ACCESS 26,000 17,269 8, % 2,635,700 1,796, , % PROGRAMS AWARDS 195,000 78, , % PROGRAM AND AWARDS BOOK 11,500 11,795 (295) % PROMOTION OF PROGRAMS 4, , % TRAVEL 5,300 1,982 3, % 216,300 91, , % PAGE 7 OF 12

11 SPECIAL EVENTS AND CONTRIBUTIONS ACADEMY AWARDS (ANNAPOLIS, COAST GUARD, WEST POINT, AND AIR FORCE) 1,500 1, % CAFE / PRESIDENT'S CELEBRATION 22,500 16,537 5, % DONATION TO VFW FOR JOINT PROGRAMS 50,000 50, % GREETINGS, FLOWERS, AND GIFTS 3,000 1,629 1, % NATIONAL PRESIDENT'S SPECIAL PROGRAMS 20,000 2,000 18, % 97,000 71,508 25, % PAGE 8 OF 12

12 CONFERENCES AND MEETINGS AMBASSADORS' BRIEFING & WORKSHOP 21,500 26,646 (5,146) % APRIL STAFF MEETING 12,500 10,271 2, % BYLAWS, GRIEVANCE & APPEALS, FOCUS GROUPS, AND OTHER COMMITTEES 15,000 1,159 13, % DEPARTMENT SENIOR VICE PRESIDENTS' CONFERENCE / OFFICER'S PLANNING MEETING 160, ,234 21, % JR. VICE NETWORKING AT NATIONAL HOME 16,500 2,814 13, % MID YEAR CONFERENCE 90,000 70,954 19, % REPRESENTATIVES FOR NATIONAL PRESIDENT 50,000 40,878 9, % STRATEGIC PLANNING COMMITTEE 12,000 8,817 3, % TRAVEL TO DEPARTMENT CONVENTIONS 65,000 48,950 16, % VFW LEGISLATIVE VOD CONFERENCE 10,000 4,898 5, % 452, ,621 98, % PAGE 9 OF 12

13 2018 NATIONAL CONVENTION KANSAS CITY, MO BANQUETS AND RECEPTIONS 40, , % FLOWERS AND DECORATIONS 2, , % GIFTS 8, , % MISCELLANEOUS 3, , % NATIONAL PRESIDENT'S SPECIAL GUEST 10, , % POSTAGE AND SHIPPING 1, , % PRINTING 10, , % PRODUCTION AND ON SITE COSTS 150, , % TRANSPORTATION 30, , % TRAVEL 176,000 20, , % VFW CONVENTION SCHEDULE 1, , % 432,000 21, , % PAGE 10 OF 12

14 CONTINGENT EXPENSES MISCELLANEOUS TRAVEL, SPECIAL COMMITTEES AND ATTORNEY'S FEES 10, , % TOTAL EXPENSES $4,162,890 $2,581,478 $1,581, % ========== =========== ============ ======== CAPITAL EXPENDITURES COMPUTER EQUIPMENT $50,000 $1,572 $48, % FURNITURE, FIXTURES AND EQUIPMENT 40, , % LEASEHOLD IMPROVEMENTS 40, , % 130,000 1, , % DEPRECIATION AND AMORTIZATION COMPUTER EQUIPMENT & SOFTWARE 265, ,384 86, % FURNITURE, FIXTURES AND EQUIPMENT 14,000 11,061 2, % LEASEHOLD IMPROVEMENTS 10,000 6,676 3, % 289, ,121 92, % PAGE 11 OF 12

15 RESTRICTED FUND VFW NATIONAL HOME FOR CHILDREN REVENUE CONTRIBUTIONS TO HEALTH & HAPPINESS $80,000 $81,707 $1, % INVESTMENT REVENUE 90,000 85,544 (4,456) 95.05% TOTAL REVENUE 170, ,251 (2,749) 98.38% EXPENSES ADMINISTRATIVE EXPENSES 28,000 17,364 10, % CHRISTMAS AND GRADUATION GIFTS 7,000 6, % VFW NATIONAL HOME MAINTENANCE 125, , % VFW NATIONAL HOME REPAIRS AND RENOVATIONS 10,000 14,651 (4,651) % TOTAL EXPENSES 170,000 38, , % NET INCOME $0 ========== $128,711 =========== $128,711 ============ ======== PAGE 12 OF 12