BOYS & GIRLS CLUB – PARENT MTG RECAP FROM 8/2
Our parent meeting at the B & G club on 8/2 was an important one, with significant, powerful conversations. Many aspects of the club financials and fundraising - absolutely critical to keeping the club afloat - were not released.
The Board is really dead set against releasing this information, and it’s going to take more work.
SUMMARY RECAP:
1) We still do not know current Pacifica-only financials. The Board members indicated that we are only 6 weeks into the fiscal year, so providing financial information wouldn’t be relevant at this time. However, our accountants say the year ended June 30th, so financials should be ready by now. A parent in the audience offered to pay for the final year-end financials, this offer was rejected.
2) The Board is set to meet next week August 10th, for their first meeting with all of the new Board members. Our expectation is the Board agrees to release formal 22-23 budget, and Pacifica-only financials quickly. More about this below…
3) The Board indicated that they are not required to share current financial data with the parent group. However, they CAN release financial data, if they decide to. Nothing stops them. The Board should release this data, if they ever expect to regain parent trust.
IRS rules for non-profits require financial data to be released about nine months after the close of the prior year. Given the financial stress the club is under, we want a monthly release. A monthly release is doable with modern computer accounting systems and makes sense.
Lack of financials has caused a lot of distress for parents, and fears that our clubs could be shut down at any moment. The secrecy around the financials does not sit well.
4) The Board acknowledged that they understood our need for clarity in this current murky situation. At this point, we agreed both parties could move closer to understanding the needs of the other side, to be able to work together, in a more positive framework.
5) The Board acknowledged the request to set up an Official Parental Advisory Board, but it remains unclear when. So, we will continue with the current system of attend the parent mtgs and make requests. We will continue to keep the community updated on Nextdoor, Facebook and our Petition.
PARENT MTG – CALENDAR
Parent meetings have been scheduled for the next year: [ 9-13, 10-11, 11-8, 12-6, 1-10, 1-17, 2-7, 3-14, 4-11, 5-9, 6-13 ]
Hopefully the, financial realities of our Pacifica clubs will unfold and become clearer with time.
BUDGET AND FUNDRAISNG PROBLEMS:
· The Pacifica club has access to the North San Mateo B&G club foundation funds (unless SSF drains it, as SSF leaves) of around $800,000.
· A draft 22-23 budget released at the June 13th meeting outlines a $1.057,820 budget with a $17K deficit, with these items:
a. Outside foundations to donate $110K. This is an unproven number. Fundraiser was not in the meeting and no details of any progress were given.
b. B&G foundation budgeted for $100K (out of $800)
c. Government donations were to be $100K. This donation will not happen. (Neg $100K )
d. Special events - $20K. One event, Moose spaghetti feed $10K has been cancelled. The other event, the crab feed, is uncertain during Covid spikes. (Neg $10K )
e. Board giving supposedly $10K among 6-7 board members: no reported progress, no pledges.
f. Giving from individuals $10K - no report
g. Corporate giving $10K - no report.
h. Bingo: budgeted for $200K. This is a yearly figure. Bingo is supposed to launch in Sept; this date may slip. Pacifica has no recent experience with anyone attending bingo; it’s a mass event in the Covid era. By the time Bingo gets going, even at full expectations, the year is half over. At best, Bingo raises $100K. (neg $100K or more.)
CONCLUSION:
We sit right now with a probable $227K deficit; most likely more.
The Foundation will have $700K remaining = maybe 2 years.
These numbers are the reason parents want, and deserve, a meeting with the B & G Club fundraiser. We are pleading for a discussion of the fundraising plan and progress; and for monthly financials, to gauge spending and verify revenue collection.
We continue to be so appreciative and amazed, at the level of community and parent support.
Our goal remains steadfast: To ensure that our beloved Pacifica Boys & Girls club remain open for generations to come.
In Solidarity,
Erin Pickett
Link to our Petition: (Over 1,860 Signatures Strong)