Magazine article Melville Society Extracts

Treasurer's Report

Magazine article Melville Society Extracts

Treasurer's Report

Article excerpt

1. Cultural Project

The big news for 2002 was the launching of the Cultural Project, our affiliation with the New Bedford Whaling Museum and Kendall Institute. Generous kick-off contributions of $13,048 were complemented by contributions of $5,120 (to date) to the Annual Fund, constituting an operating fund of $18,168. Expenses so far have been $812, but some significant bills have not yet showed up. The Cultural Project is off to a healthy but not extravagant start.

2. Operating Budget (Checking Account)

The handoff from 2001 treasurer Dennis Berthold to me entailed overlapping bank accounts while dues dribbled in and checks cleared, so the snapshot of 12/ 31/01 implied by such a report is understandably hazy. Once everything could be turned over to the new account, activity for 2002 looked like this:

Carryover from 2001: $13,949

Income: Dues $9,878, Interest $188, Advertising $400, Back Issues $220, total Society (excluding CP, Murray, and Cohen funds) income $10,686.

Expenses: Publication costs $11,750, Office expenses $548, Board expenses $2,348, Banking charges $28, total expenses $14,674.

Balance carried forward: $9,961.

Comment: Dramatic increases in publication costs for Leviathan, even with Hofstra's generous contributions, threaten to make expenses outrun income in 2003. This is the Society's single most serious financial concern.

3. Dodge and Cox Balanced Fund Investments (Murray Endowment)

The 1/1/02 Starting Balance in the fund was $49, 165. …

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