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Late-in-Year LNC Financial Report

As supplied to us from the LNC, Bill Redpath writes:

Here are the LNC November 2024 month end financial statements, and an update on LNC finances through today (Sunday, January 5, 2025).

I apologize for not getting the November financial statements to you earlier. The fault is mine. I am in the process of moving from Illinois to Ohio. Due to that, I have resigned as Chair and Ballot Access Director of the Libertarian Party of Illinois.

November 2024 was not a good month financially for the LNC, but December was good.

November total revenue was only $47,281 from contributions ($47,043), Legal Fund revenue ($170), and Interest ($68). Joint Fundraising Commission revenues were $16,245, continuing its month-by-month decline, although that changed in December. Total revenue was $63,527, while the November budgeted revenue was $127,200.

January through November Total Fundraising revenue was $884,069 versus a budget of $1,354,200, which is 65.3% of budget. JFC Commissions Year-to-Date revenue was $214,044. Total revenue, excluding Convention Revenue, was $1,112,197.

November expenses was overall below budget, except for $14,314 of expense for D&O insurance, and $5,683 in property taxes, fees & permits that now total $18,987 YTD. Accounting expense was $10,146 in November, and Legal expense was $11,556. It looks as if we the LNC may need to amend the 2024 budget again to bring it into compliance with the Policy Manual.

A December 27, 2024 report from Hannah Kennedy states that December 1 through 27 revenues were $127,758, with $44,314 of that from the JFC, $451 from the LP Store, and $82,992 in General Fundraising. Expenses were only $85,622, which yields a positive Net Income of $42,136.

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