E&E RPCVs Group News

E&E RPCV Board Financial Report

A major duty of the E&E RPCV Board is the careful stewardship of its fiscal resources.  Treasurer Randy Marcus provided the year end financial report to the board and it was approved by the board by acclimation.

As part of the report, Marcus listed his duties and accomplishments for 2016.

  • Receiving and depositing Legacy Project donations and voluntary fees (which we used to call dues)
  •  Tallying and keeping track of the amount collected for each Legacy Project
  •  Distributing funds to Legacy Project recipients when instructed to do so by the RPCV champion
  •  Sending out formal acknowledgement letters to donors for tax purposes
  •  Keeping track of operating expenses that come out of unobligated funds (non-LP money)
  •  Paying for approved expenses like the Hyatt Hotel conference room last year, bank fees, website costs, etc.
  •  Compiling an annual financial report for the board
  •  Filing non-profit tax forms to the IRS, to Maryland (our official address), and the NY State Charities Bureau (where EERPCVs, Inc. is incorporated)

 

E&E RPCV Financial Report 2016

Prepared by Randy Marcus

Money In
NPCA dues, fees, cash received
Legacy Project Axum Library
Legacy Project Borana Students
Legacy Project Hesperian Health Guides
Legacy Project ITC Lab Mettu
Total Money In

Total Received
$ 1,339.19
$ 5,078.00
$20,068.00
$ 1,694.21
$ 68.00
$28,238.40

Money Out
Business Expenses
Legacy Project Borana Students
Legacy Project Hesperian health guides
Legacy Project ITC Lab Mettu
Net Total Money Out
Net Total (Money In less Money Out)

Total Out
$ 1,148.87
$20,000.00
$ 2,044.57
$ 2,000.00$25,348.61$2,889.79

 

 

 

 

 

 

 

 

 

 

Please note. Legacy Program funds are restricted and may only be applied to that fund. Donations received in a prior fiscal year may be applied the following year or at the point when a sufficient amount of funds have been raised to warrant expending a bank transfer fee.

Treasurer Marcus has noted that although we had a positive cash flow for FY 2016, the organization will need to recoup the loss of the portion of dues previously received by NPCA since they have changed their due structure to voluntary membership. Donations to the general fund are greatly needed.

You may send checks to:

Ethiopia & Eritrea RPCVs
c/o Randy Marcus
1634 Martha Terrace
Rockville MD 20852-4134

Make out your check to “Ethiopia & Eritrea RPCVs,” and in the subject line enter “General Fund.” Include your email for tax receipt.

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