[QCWA Hotlist] QCWA Info

[Ken Simpson, W8EK]

Greetings,

For those of you who do not know me, I am one of your national 
directors.  I have been Chairman of the Chapter Relations Committee, 
and as of about 2 weeks ago, I am now chairing the Finance Committee. 
  I try to attend as many hamfests and chapter meetings as possible. 
In 2010, I attended 28 hamfests, 26 chapter meetings, and presented 10 
forums.  In the past 15 days, I have attended 3 hamfests, and 
presented 6 forums for QCWA.  So I try to get the input from members.

I would like to use this reflector to give you information.

Yes, QCWA is having financial problems.  That may be an understatement!

However, you need to know that the QCWA Scholarship fund is NOT having 
financial problems.  The Scholarship Fund is separate from regular 
QCWA operating funds, and it is fairly healthy.  Not as healthy as if 
the stock market was doing better, but healthy never the less.  The 
dollar amount of scholarships given is dependent on the amount earned 
by the Scholarship Fund.  At one point it touched $700K, but is now at 
about $660K of endowed funds.  Since only the earnings are used for 
scholarships, it will fluctuate with the stock market, but basically 
continue to grow as it receives additional contributions.

In addition to the scholarship fund, QCWA had two other invested 
funds.  One is the Endowment Fund, which I am told is for "rainy 
days".  That fund did have about $40K in it, but it is now about half 
of that, due to the shortfall from the RI Convention.

The other invested fund is the Corporate Account.  This is where we 
are really hurting.  This is the fund that is used for general 
operating expenses. At year end 2009, it had about $145K; at year end 
2010, it had about $128K.  Now it has about $90K.  You see the trend. 
  This is why our CPA informed us that we needed to do "something", or 
QCWA would be spent into bankruptcy in a few years.

I need to assure you that QCWA is "watching its pennies" closely and 
not spending unnecessarily.  Chuck does a good job of watching things 
at HQ.  But we also need to remember that we will be getting a new 
General Manager, and moving HQ soon.  That will involve extra expense.

One of the things that we all need to be aware of is that QCWA is a 
501(c)3 organization, which means that any donations to QCWA are tax 
deductible.  We need to embark on a "Charitable Giving" program, which 
means large donations, including QCWA in your will, and other "tax 
advantage" activities.  This will be done as soon as I can get 
information together, and get it approved by the Finance Committee, 
and Board of Directors.

I wish I had more -- and better -- information to give you, but I have 
been on the road for QCWA most of the time since I was given the 
Finance Chair job.  I am still trying to collect accurate information.

I welcome your questions and comments.  It would probably be better to 
address those to me individually at W8EK at FLHam.net.  When I am home, I 
try to respond to e-mail within a couple hours.  If on the road, that 
time can vary, depending on e-mail availability.  We have hamfests 
each of the next three weekends.

Please let me know your thoughts.  I want to be certain that you have 
the information that you need.

Thanks.

73,

Ken, W8EK

Ken Simpson
QCWA National Director
E-mail to W8EK at FLHam.net or W8EK at arrl.net
Voice Phone  (352) 732-8400