Last updated on September 21, 2023
Here you read a regular column on where money given to party committees then went. Today’s focus is on the Libertarian National Committee.
Where your money went, the full column.
The LNC did file its latest FEC report on time. The results are not entirely positive. Results for July
Receipts for July $82702.45
Expenditures for July $87289.16
Cash on hand, end of month $266,368.15*
Receipts, year to date $595,848.59
Estimated net receipts for the year, based on the year to date: 595,848.59*12/7 = $1,021,453
That estimated amount is well less than the $1.23 million of receipts budgeted for the current year, as seen in the new budget. A a rough estimate, the LNC needs to trim the estimated income in the budget by another $230,000.
*During today’s meeting, the Chair and Treasurer did not seem to know this number, which is probably accessible electronically to either of them.
The largest donations were for $1563. There were seven of these. Crypto whale maximum donations were absent.
$25,162 went to salaries to six persons. $0% of that went to the former Executive Director, who received $5769 in each of two payments. $3721 went to three persons for CiviCRM and campaign support. Administrative Services, and Graphic Design Services. $9940 went to payroll taxes and Employee Health Insurance.
$5495 went to IWave Information Systems for ‘fundraising software’. That’s for large donor prospecting, or so we read.
$4230 went to Sqvare, Inc., for contract labor, which we believe involved improving the CiviCRM system.
$3528 went to Merchant Fees.
Expenses for Freedom Fest included $14,900 in registration fees, $6577 to one panelist, and $1297 for rooms, paid via the National Chair under the cognnomen ‘consulting’. $500 was paid to TVEyes for TV/Radio broadcast monitoring.
Headquarters, Maintenance and utilities came to $561.
Oh, yes. Doing politics. $7000 went to the Libertarian Party of Arkansas, we gather for petitioning expenses.
9/9/2023 The Treasurer’s Financial Report for June has just been filed.
In June
$83,958 in
$97,510 out
Liabilities up $13K
Total income first half of year $490,706
Income is running $230K or so behind the new budget. At this rate, for the year they’ll reach $980,000 in income, give or take.
Angela McArdle
Aug 21, 2023, 2:33:03 PM (yesterday)
to lnc-business
Hi everyone,
Some our transactions were miscategorized in our most recent FEC reports. Please extend our accountants some grace. This was their first time preparing the financial data for the report.
No, Brett Weistein and I did not receive consulting fees for the party. I fronted some Freedomfest costs in an emergency and Brett received a speaking fee and travel reimbursement for Freedomfest. There are probably a few other miscategorized transactions as well and they will get corrected asap in an amended report.
Angela McArdle, Chair