2024 Budget & Treasurer’s Report
The following materials have been prepared in advance of LWV Chicago’s Annual Meeting on June 8, 2024.
Proposed Budget 2024–25
Submitted by the 2023-24 Budget Committee: Leslie Chenoweth (Chair), Debby Halpern, Melissa Ryan
At the Annual Meeting, the Budget Committee will present an overview of LWV Chicago’s financial activities and answer questions regarding the budget, the methodology for developing it, and recommendations with respect to future financial actions.
Treasurer’s Report
Submitted by Hollis Burgess, Treasurer
Entering FY2024 after an uplifting 2023 fundraising campaign, LWV Chicago board and fundraising committee were committed to addressing financial issues. Efforts were made to curb expenses and create interesting fundraising events to encourage members to expand financial support for LWV Chicago.
LWVUS decided to implement the change in collection of dues as of January 2025, so local Leagues continue to be responsible through to the middle of the 2025 fiscal year. It may also bill local League for PMP of $32 for FYE 2025. LWVIL will continue its current procedures for PMP also. This will leave LWV Chicago with only $9 of its $75 dues.
At this time, LWVUS has determined that future dues will be $75 per member. It has not been determined whether there will be a “pay what you can” option. It also determined that after the transition, it will take 33% ($24.50) of such dues, while state Leagues will receive 47% ($35.25). That leaves $15 for local Leagues, which for LWV Chicago is an increase of $6. Definitely not enough to support our activities.
In addition, any dues payments after January 2025 above the $75 will be distributed in the same percentages as above. Local Leagues will no longer get the whole of any donation made at the time of dues payment. LWV Chicago will need to increase its commitment to fundraising to continue to support its voter service and education activities.
In the area of cost cutting, this year had LWVIL giving some of its space back to the 332 S. Michigan building, which impacted LWV Chicago in that we moved into a smaller portion of the office and had our rent obligation to LWVIL marginally reduced. There is an ongoing analysis about how much space LWV Chicago needs to effectively support its activities and goals. Our switch to Club Express as of July 1, 2024, saves us the funds we previously paid to Neon and GiveSmart, which organizations handled the membership and donor databases, approximately $3,000+.
There is currently a fundraising campaign to mitigate any shortfall in revenues. This campaign is taking place before the end of the fiscal year so budget v actual amounts may show this shortfall, which, if it exists at the end of the year, will be minor and limited.
The new board of LWV Chicago will continue the efforts to save on expenses and create new avenues for revenue. As members, our satisfaction in being part of a well-respected, effective organization such LWV Chicago also carries responsibility for its financial health. If we wish to continue our good works in encouraging and educating voters on the issues facing our community, we need to step up to that responsibility.
Thank you.