FINANCIAL SUMMARY
Proposed 2008 NCF Budget
Income
Contributions $110,000
Interest & Dividends 10,500
Total Income $120,500 |
Expenses
Construction 525,000
Printing and mailing 15,000
Service Weekends 5,000
Marketing 4,000
Professional fees 3,500
Administrative 1,100
Insurance 1,000
Licenses and Permits 250
Bank Service Fees 150
Total Expenses $555,000 |
Explanatory notes:
Income - The Campaign for Nature Camp has been collecting
generous donations from supporters to meet the major construction
costs at camp, and these have not been counted as normal income.
See the Annual Report for more information on the NCF financial
situation. Printing/Mailing - The Afterglow is now mailed to
2000 people, including former campers and parents of current
campers. A grant has been received to cover a portion of these
costs. Marketing - Expenses to advertise camp to parents and
potential sponsors, plus increased visibility for NCF. Professional
fees - Annual audits will be done by a professional CPA. A part-time
bookkeeper is also needed to help the treasurer. Insurance -
will protect the Board of Directors from liability. Both of
these measures are for the protection of funds entrusted to
us by our contributors.
Investment Policy Defined
The NCF Board of Directors at its January meeting approved a
new Investment Policy Statement (IPS) as part of its initiative
to update governing policies and organizational documents in
consideration of the recent transformational changes in the
role and scope of the Foundation‘s support of Nature Camp.
The new IPS was drafted with input from a number of individuals
with expertise and experience in this area, including Amy Clark,
Chuck Story, Paul Schwobel, Joe Irby and Powell Hutton. The
new IPS provides strategy, policy and administrative guidance
for the investment and management of the financial assets of
the NCF, including annual independent audits and explicit thresholds
of expenditures that can be authorized by the Treasurer, the
Finance Committee and the NCF Board. It also provides for the
segregation of the assets of the Foundation into the following
three accounts based on the source of funding and purpose for
which it is to be used. The Capital and Operating Account is
comprised of funds accumulated as part of The Campaign for Nature
Camp from 2007-2009 and through the Foundation’s annual
giving campaign from 2008 forward. The purpose of this Account
is to provide funding to meet capital improvement needs, to
support the annual operations of NC Inc. and NCF, and to support
camp operations as needed. Typically, income and principal may
be used to advance the purposes of the Account. Excess amounts
in this fund may be transferred to the Legacy Account. The Legacy
Account is comprised of funds accumulated through dues and donations
prior to 2007 and through designated future gifts, and is used
primarily to provide financial security to protect the long-term
interests of Nature Camp and the Foundation. In addition, annual
income from the Legacy Account may be transferred to the Capital
and Operating Account to support the maintenance and operations
of Nature Camp. The Nature Camp Scholarship Account is comprised
of donations or Foundation allocations designated for the purpose
of providing financial assistance to deserving campers. A copy
of the IPS is available upon request to Amy Clark, breezyhillva@verizon.net. |
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