Financial Report to OSSS Members

The past year was relatively uneventful financially because we didn’t have our usual events!  We track income and expenses by event (Summer Tour, Winter Meeting, additional special workshops) and on-going general operational income and expense (memberships, Oregon state reporting fees, website fees, postal, insurance).  In addition, we track donations to and from OSSS for scholarships and other support related to our mission.  Our fiscal year runs from July 1 to June 30.  Here is a summary of what came in and out of OSSS coffers during our last fiscal year (7/1/20 to 6/30/21):

Scholarships: Last year we awarded $1000 to Brad Remsey (OSU) and $500 to Chelsea OBeidy (UO).

During our March 2021 online winter meeting 24 people donated a total of $1240 toward scholarship(s) in 2021.  The board agreed to again award two scholarships ($1000 and $500) and the selection process is underway.  We also donated $200 to Envirothon, a high school educational program.

Memberships: We have 58 current regular (professional) members ($50/year),  nine student members ($30/year) and 26 lifetime members ($500 onetime).

Operational Expenses:  We paid $199.17 in fees for online payments (our processor is Stripe which charges $0.30 plus %3 per transaction), $199 for website software, $21.17 for our website domain, $350 for liability insurance, $134 for PO Box rental, $61.34 for OSSS notecards and $70 for State of Oregon corporation and reporting fees (OSSS is an Oregon Domestic Nonprofit Corporation with Federal 501c3 tax-exempt status).

Advertising Income:  We received $200 for AMS and Stevens Water (not yet paid) ads placed in the Sharpshooter.

Winter Meeting:  Expense specific to the meeting was $158 for soil lab analysis. Income specific to the winter meeting was $455 for nonmember registrations.

Not to be forgotten are the tremendous raffle prize donations:

Emerson Vineyards winetasting donated by James & Nina, value $300

Private yoga lessons donated Marissa, value $180

Weekend on the coast donated by Jim and Tom Andrews families, value $500

Two “soil” cakes donated Jenessa, value $60

One year member dues donated by Scott, value $50

Case of Oregon pinot noir donated by Andy, value $240

Two nights at Summer Lake Hotsprings Resort donated by Vance, value $192

Grand total income – expense:  $5,595 – $3,023 = $2,572

Current Bank Balance:  $14,849

Please don’t hesitate to give me a call or email and ask questions.  Our finances are simple.  We have one bank account (Umpqua checking) and one spreadsheet (Ledger) with entries for every transaction in or out.  Monies are categorized in a way that allow easy reporting and comparison between events and years.  I’m happy to email the spreadsheet to anyone with an interest.

Pam Keller, OSSS Treasurer, July 2021.

PAST  REPORTS:

Fiscal Year 19 (7/1/19 – 6/30/20) End-Of-Year Summary
Summer Tour was at Brookings (Chetco) and Winter Meeting was as Silver Falls State Park.
Expenses:
$ 128.00     Administrative (PO Box, postage
$ 275.00     Liability insurance
$ 70.00       OR Corp and DOJ annual reporting fees
$ 40.00       Bumper stickers
$ 398.43     Online transaction fees (memberships, registrations)
$ 367.57     Refunds (of registrations and overpayments)
$ 249.17     Web functionality (WooCommerce and GoDaddy)
$ 137.05     Coos Bay Pub Talk outreach travel reimburse
$ 801.03       Summer Tour food
$ 1,116.00     Summer Tour campsites
$ 10,923.12      Winter Meeting facility, lodging and food
$ 400.00     Winter Meeting movie and lodge snacks
$ 200.00     Winter Meeting poster prizes
Grand total expenses: $ 15,105.37

Income:
$ 1,450.00   29 Regular membership dues
$ 150.00      5 Student dues.
$ 400.00      Sharpshooter Ads (AMS and Stevens)
$ 2,025.00    27 regular registrations, Summer Tour
$ 150.00       3 discount registrations, Summer Tour
$ 5,500.00    20 regular registrations, Winter Meeting
$ 2,325.00      13 discount registrations, Winter Meeting
$ 1,800.00      18 student registrations, Winter Meeting
$ 225.00         1 non-member registration, Winter Meeting
Grand total income: $ 14,025.00

FY19 Income – Expenses = ( 1,080.37)
Umpqua bank balance: $12,277.07

Notes:
We have 75 members including 23 lifetime memberships.
OSSS has only one bank account and finances are tracked in a single, simple spreadsheet. Individual transactions are placed into standardized budget and planning categories. Pivot table summaries can then be created for any single or multiple time period, category, or event.
Our online transaction processor is Stripe which charges $0.30 plus 3% per transaction.
OSSS is an Oregon Domestic Nonprofit Corporation with Federal 501c3 tax-exempt status.
FY20 starts July 1, 2020.

 

FY 18 (July 1, 2018 to June 30, 2019) Summary of Income and Expenses

Summer Tour was at Wallowa Lake; Winter Meeting at Lincoln City; Soils Workshop at Coos Bay

Income:

Dues (25 regular, 5 student, 24 lifetime members not included) $   1,580.00
Summer Tour Registration (19 regular, 5 student, 12 non-member) $   3,315.00
Winter Meeting Registration (30 regular, 12 student, 7 non-member) $   7,200.00
Winter Meeting lodging reimbursements $   4,380.00
Soils Workshop (20 regular, 3 non-member) $   2,680.00
Sharpshooter Ads $      200.00
Tshirt Sales $      276.00
Total Income $ 21,631.00

Expenses:

Online Transaction Fees (for online payment of dues and registrations) $ 501.80
Summer Tour Lodging and Food $ 4526.00
Winter Meeting Lodging $ 3,674.41
Winter Meeting Food $ 2,195.62
Winter Meeting Facility $ 1,000.00
Winter Meeting Entertainment $ 900.00
Winter Meeting Speaker Transportation and Lodging $ 500.00
Winter Meeting Vans donated by Ace Cheney Fund $ 0
Soils Workshop Facility $ 100.00
Soils Workshop Food $ 407.29
Awards (Envirothon) $ 100.00
PO Box Rent, extra key, and stamps $ 101.00
Annual Board Strategic Retreat Lodging  and Food $ 1,083.09
Liability Insurance, Annual Premium $ 265.00
Annual State Fees (Corporation Registration Renewal, Dept. of Justice Report) $ 70.00
IRS interest owed from 2013 $ 32.19
Website Maintenance (Domain, Woo Software, Plug-ins) $ 249.17
Refund of Extra Payments $ 114.00
Total Expenses $ 15,819.57
FY18  Income – Expenses = $ 5,811.43
Umpqua Bank Balance:  $ 13,451
Notes: 

  • OSSS has only one bank account and a single, simple ledger to track income and expenses.
  • Our online transaction processor is Stripe which charges $0.30 plus 3% for each transaction.
  • Members and the Board have approved the granting of student scholarships and other mission-relevant awards in the coming year.
  • OSSS is an Oregon Domestic Nonprofit Corporation with Federal 501c3 tax-exempt status.
  • FY19 starts July 1, 2019.

Past Reports

FY 17 (July 1, 2017 to June 30, 2018) Summary of Income and Expenses as of 4/24/18

Income:

Dues (44 regular, 8 student, 24 lifetime members not included) $ 2,540.00
Summer Tour Registration  (20 regular, 14 student) $ 1,760.00
Winter Meeting Registration (38 regular, 30 student, 30 nonmember) $ 12,545.00
Winter Meeting Donations $ 2,390.00
Taxes refund (for 2011 Federal and 4 years of Oregon, plus interest) $ 1,102.29
Sharpshooter Ad $ 50.00
Tshirt Sales $ 165.00
Total Income $ 20,552.29

Expenses:

Online Transaction Fees (for payment of dues, donations and registrations) $ 525.08
Summer Tour Meeting Room $ 75.00
Summer Tour Campsites $ 192.00
Summer Tour Food $ 862.45
Winter Meeting Food $ 7,046.40
Winter Meeting Keynote Speaker Fee $ 3,000.00
Winter Meeting Speaker Transportation and Lodging $ 804.93
Winter Meeting Buses (Summer Tour Vans donated by Ace Cheney Fund) $ 950.50
Winter Meeting Poster Awards $ 300.00
Winter Meeting Registration Materials (flash drives, name tags, programs) $ 808.58
New Member Materials (magnets, business cards) $ 251.06
Tshirt Expense $ 738.55
PO Box Rent and Stamps $ 92.00
Annual Board Strategic Retreat Lodging $ 591.76
Liability Insurance, Annual Premium $ 265.00
Annual State Fees (Corporation Registration Renewal, Dept. of Justice Report) $ 70.00
IRS Fee for 501c3 Application $ 275.00
Website Maintenance (Domain, Woo Software, Plug-ins) $ 337.34
Refund of Extra Payments $ 197.52
Total Expenses $ 17,383.17
FY17  Income – Expenses = $3,169.12
Umpqua Bank Balance:  $ 7,904.24
Notes: 

  • OSSS has only one bank account and a single, simple ledger to track income and expenses.
  • Some income and expenses in FY17 will not recur.  These are $275 fee for 501c3 application and $1,102.29 refunds of federal and state taxes that should not have been paid.
  • Our online transaction processor is Stripe which charges $0.30 plus 3% for each transaction.
  • The only additional expense expected for FY17 is food for the Board Retreat (around $200).
  • FY18 starts July 1.

~Pam Keller July 17, 2018

In the last Sharpshooter I presented a summary of last year’s income and expenses.  The OSSS Board has developed a budget for this year (Fiscal Year  2018, 7/1/18 – 6/30/19).  The Board will vote on the budget in September and is requesting review and comments from the membership.

A few notes:  OSSS income and expenses can be divided into those associated with putting on events and those associated with general operations.  The budget reflects this and groups expected income and expenses by “Summer Tour”, “Winter Meeting”, “Workshop” and “General Operations”.  Workshop is a new event starting this year.  It is a one day event intended to provide technical training that qualifies for Continuing Education Units (CEUs).  Annual operating expenses tend to be more fixed while event income and expenses are estimates based on best information and past experience. Event expenses are covered by registrations while regular operating expenses are covered by member dues.

 

~Pam Keller, Treasurer February 6, 2018

In 2011 the Oregon Society of Soil Scientists (OSSS) was incorporated in Oregon as a not-for-profit charitable organization. Last year we completed the process by applying for Federal tax-exempt status (501c3). We were approved Oct. 31, 2017. This means that people can take a federal tax deduction for donations to OSSS.

Also last year we finished the OSSS Financial Controls, Policies and Procedures. This document details financial practices to deter mismanagement and provide appropriate oversight.

The OSSS tracks financial transactions in a single, simple spreadsheet. Pivot tables are easily made to summarize by date range or finance category. The only OSSS bank account is a checking account with Umpqua Bank. We have two debit cards, held by the President and Treasurer. We use Stripe to process payments made on the OSSS web site and make weekly deposits to our bank account.

The following three tables contain information about OSSS finances. Below are descriptions of each one which will hopefully help your understanding. Please don’t hesitate to call me if you have questions or concerns.

Table 1: FY 16 (July 1, 2016 to June 30, 2017) Summary of Income and Expenses.
The fiscal year (FY) for OSSS starts in July and ends in June. Therefore, FY16 (ending 6/30/17) is the last fiscal year. This table summarizes income and expenses for the entire year. It was prepared 6/30/17 and is fixed at that date. Income came in as lump deposits so could not be split out as it is now.

Table 2: Budget for FY17 (July 1, 2017 to June 30, 2018).
In this table you see projected income and expenses for the current fiscal year. Income (INC) and expenses (EXP) are categorized and standardized so that meaningful summaries and comparisons over the years can be made. The budget is split by Summer Tour (2017) Winter Meeting (2018) and Other. Additional description and information is provided under the “Action” column. The budget was approved by the board on 7/20/2017 and is fixed at that date with the exception of a minor increase approved by the board on 2/5/18.

Table 3: Income and Expenses to date for FY17. The current fiscal year ends on June 30,2018. This table is a copy of the pivot table in the OSSS general ledger which keeps a running total of income and expenses to date for the current fiscal year. The majority of income and expenses for the 2018 Winter Meeting have not yet come in.

Table 3.  Income and Expenses to date for FY17