Fall/Winter 2003 Table of Contents

LSNF Budget 2003
by Michael Stock, Treasurer

As the Landmark Society has grown and matured, so too has its budget. We have also modernized our bookkeeping procedures. In 2002, we started using the Quickbooks computer program to better keep track of income and expenses. This computer program has enabled us to see more clearly where our money comes from and where it goes.

The biggest item in our budget is the $125,000 grant we received from the Wendt Foundation to begin restoration of the Hull House. This grant pays for the site architect, project manager, and the restoration. It has meant that real progress can be made on this project after so many years of dreams.

The Landmark Society depends on its members for much of its support. The membership dues amount to many thousands of dollars. So far this year we have collected nearly $10,000 in dues. The annual appeal at the end of the year generally brings in a few thousand dollars and clearly demonstrates how committed our members are to the cause of preservation. We also acquire money through grants from local foundations or governments. Unfortunately government money is hard to come by in this economic climate, but we have received a grant from the Baird Foundation this year for $2,000. We have also received a $12,000 grant from local NYS legislators for the Hull House.

The Landmark Society also makes money by selling posters and giving tours. We also make some money on our Annual Meeting, Christmas Party and Hull House Fundraiser dinner. We even found several sponsors for our Annual Meeting and the Hull House Fundraiser this year to help us defray the cost of the dinners and awards. On the expense side, the Landmark Society is in a similar situation to those of you who run a home. We have many fixed expenses, such as insurance which runs close to $3,000 per year.

We have to protect our office, Board of Directors, and the Hull House. The Hull House insurance is nearly two-thirds of the insurance cost. The rate is so very high because it is classified as a vacant building. The only company that will insure the Hull House is Lloyds of London! The phone is a monthly business expense, as are the utilities. Our organization has reached the point of needing someone in the office nearly full time. This is one of our largest expenses. This year the membership committee is in need of money to establish new literature and have a membership drive.

The newsletter is also costly. Printing and postage rates are very expensive. Rent is due every month. If you have not seen our new office in the Market Arcade you won't appreciate what a wonderful deal we negotiated for a three-year contract for this office in a very central location. We have numerous other expenses, some planned, some not. For example, there is the yearly accountant's fee. It is a bargain at just $500, but it still is $500. Office supplies add up, as do internet fees and web page fees.

The Board of Directors and the Executive Board work diligently to raise money and to spend it the most efficient way possible. It is a big job and with so many fixed expenses we often seem to be fighting an uphill battle, but we know it is the only way to make our preservation voices heard.