Kevin Standlee (kevin_standlee) wrote,
Kevin Standlee

Tonopah Finances Update

Reviewing receipts and records and recounting the cash showed that I'd neglected to enter two pre-supporting memberships into the database and a couple of $20 bills had stuck together initially, so the final revenue count for the Tonopah bid is $415. That covers all of the bid's out-of-pocket expenses, much to my amazement.

Lisa and I made several automobile trips solely for bid purposes (not the drive to Pasadena, but shopping expeditions into Salem and Portland for stuff the bid used). I calculated those using the tax-exempt deduction rate of $0.14/mile (not the commercial rate) that we would have taken as deductions from taxes had we been a 501(c)(3) organization, and after that, there's nothing left. This makes it much easier to account for in my records, let me tell you. I had no expectation that the bid would actually run an operating surplus. I would have had to report "miscellaneous hobby income" of about $30 on my income taxes, which complicates life a bit.

In the end, we ended up only out our time and some money for gas and wear on the vehicles running back and forth to Salem and Portland. Thank you again to everyone who bought memberships to let us do so. I was flabbergasted at the support y'all gave us. Considering that I financed most of the out-of-pocket expenses on my credit card, I'm also very grateful.
Tags: tonopah, westercon

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