On time. Also, Remarkably early relative to some recent past Treasurers and their reports. Knebel writes:
Attached please find the Libertarian National Committee, Inc. financial statements, as of May 31, 2026.
Due to the Joint Fundraising Committee (JFC) impacts on the financial statements on Pages 5, 9 & 10, it is best to focus on the balance sheet data at the bottom of Page 3.
Unrestricted cash increased $2,990 from the April 30, 2026 balance. Total Cash (net of any Joint Fundraising Committee liabilities) was $725,730, up from $722,740 at 4/30/2026.
On the May 2026 month end balance sheet, Accounts Payable, the Credit Cards Liability, and the Accrued Expenses & Liabilities sum to $35,095, down from $48,813 at 4/30/2026.
The May 2026 income statement is summarized on Page 4, with greater income statement detail on Pages 6, 7 & 8. May 2026’s revenue of $266,264 includes convention revenue of $191,699. Excluding convention revenue, May’s revenue was $74,565, which was down from April 2026’s revenue of $93,441 This was due to a maximum legal donation from one donor of $44,300 in April.
The 2026 budget that was passed by the LNC contained only annual, and not monthly, budgeted numbers. The 2026 total budgeted revenue (minus convention revenue) is $973,765, and January through May’s combined non-convention revenue of $363,060 was 37.3% of that number. At five months through the year, we should be at 41.7%. The LNC is pacing to achieve 89.5% of total year 2026 budgeted non-convention revenue, and that is up from 88.9% in the April 2026 LNC Financial Report. Now that the convention is behind us, the numbers inclusive of convention revenue are as follows: 2026 budgeted revenue was $1,350,509. January through May’s combined revenue of $554,759 was 41.1% of the budget. Including convention revenue, the LNC is pacing to achieve 98.6% of the total 2026 budget.
May non-convention expenses totaled $69,406, with Total Year-to-Date expenses of $406,225, which is 36.0% of total annual budgeted expenses (minus convention expenses) of $1,129,754. Now that the convention is behind us, the numbers inclusive of convention expenses are as follows: May expenses totaled $283,630, with Year-to-Date expenses of $620,449, which is 44.4% of total annual budgeted expenses of $1,395,999.
The LNC had a Net Income of negative $17,366 in May 2026. Excluding the convention, net income in May was a positive $5,159. Net Income for the first five months of 2026 combined was -$65,690. Excluding the losses absorbed by the convention, the YTD net income through May was -$43,165.
FEC reports are expected to be filed on a timely basis by Paula Edwards, the LNC’s FEC consultant, and all other FEC inquiries have been answered on a timely basis. I would like to thank Assistant Treasurer Patrick Mitchell for his assistance during this LNC term in the preparation of the LNC’s FEC filings and financial statements.
Doug Knebel, LNC Treasurer
