By Tim Sullivan
RUSA continues to be financially strong. The attached profit and loss statement shows that in 2006 RUSA had gross income of $67,694.56. Approximately two-thirds of this amount ($44,805) was derived from membership fees as membership continues to grow. Other sources of income include souvenir sales, $10,844.26, awards and medals sales of $4,487.50, and advertising in this newsletter of $3,448.30.
Expenses for the year totaled $70,119.12. The main expenses were for souvenir inventory purchases, $16,430.93, payment to Audax Club Parisien for medal purchases and brevet processing of $14,335.57, publishing the American Randonneur, $13,522.90, printing and distributing the RUSA handbook, $6,395.09 and reimbursing RBAs for brevet expenses, $3,369.53.
For the year RUSA incurred a net loss of $2,424.56. Part of this was the result of an increase in the souvenir inventory. Jennifer Wise added several items to the inventory including coffee mugs, long sleeve jerseys, and socks. The souvenir store inventory increased from $11,274.29 to $17,658.09. Included in the merchandise being sold are the reflective ankle bands and sashes that RUSA continues to sell at below cost to members in order to foster safety. RUSA also purchased, and made available for free to members, Scotchlite reflective tape.
At the end of the year RUSA had $63,215.76 in its bank accounts. RUSA does not have any liabilities. The bank funds are equivalent to one year's expenses and thus provide an operating reserve. It also exceeds one of the goals of the organization when it was formed to maintain a reserve of at least $50,000. RUSA has been able to maintain this financial security without an increase in membership fees since it's inception in 1998.
RUSA will continue to use its funds to support its members, to improve their safety, and to promote randonneuring. If you have any ideas to further these goals, then contact a Board member with your constructive thoughts and ideas.