LNC Financial Results for October 2025

LNC Treasurer Redpath wrote the LNC.  He included an associated staff report.

Due to Joint Fundraising Committee (JFC) impacts on the financial statements on Pages 5, 9 & 10 (because of Cash that is included that will be expended on liabilities of the Kennedy Victory Fund), it is best to focus on the balance sheet data at the bottom of Page 3. Once all JFC-raised funds have been expended by the LNC, there will be no difference between the Page 3 balance sheet and the more detailed balance sheet.
The current Cash situation remains quite good due to the closing of the sale of the office building in Alexandria, VA in August 2025. Total Cash (net of any Joint Fundraising Committee liabilities) was at $743,856, up from $725,071 at 9/30/2025.

Also on the October month end balance sheet is Credit Cards Liability, which was down to only $887, after being as high as $85,072 earlier this year.

The October 2025 income statement is summarized [in the Staff Report] on Page 4, with greater income statement detail on Pages 6, 7 & 8.

Total Revenue for October was $73,877, which was below the budgeted amount of $85,000. Total revenue for January through October was $753,888, or 79% of the budgeted amount of $950,000.

October Expenses totaled $87,944, which was 102% of the budgeted amount of $86,070. YTD Expenses through October totaled $877,703, which was 94% of the budgeted amount of $934,150.

The LNC had a Net Income of -$14,066 in October 2025 and has now had a negative Net Income in five of the last six months.

YTD through October Net Income was -$123,815, but would have been -$41,583, but for the non-cash accounting loss on the sale of the building.

FEC reports have been 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.

The Staff report shows that LPUS dues-paying membership continues to fall.  Membership at the end of October was lower than at the end of any other month this year.  The membership bump a few months ago has rapidly faded.