2003 Financial Report
Two reports are included on this page. The first report is actual (distributed on October 18, 2003 at the ERSC BoD meeting) and the second report is projected. It is interesting to note that MCRGO is losing money rapidly.
MCRGO FINANCIAL HIGHLIGHTS - SEPTEMBER YTD 2003 EXPENSES YTD JULY AUG/SEPT YTD SEPT STAFFING $73,973 $13,434 $87,407 OFFICE, COMPUTER AND SUPPLIES $16,259 $5,418 $21,677 TRAVEL/EXPENSE $5,112 $1,000 $6,112 WEBSITE EXPENSE $7,248 $2,739 $9,987 POSTAGE $18,637 $3,116 $21,753 PRINTING/MAILING $50,020 $15,803 $65,823 GUN SHOW & MERCHANDISE $2,723 $2,067 $4,790 LEGAL $13,719 $0 $13,719 OTHER $653 $266 $919 PROGRAM $7,215 $4,576 $11,791 ANNUAL CONVENTION $0 $6,610 $6,610 TOTAL EXPENSES $195,559 $55,029 $250,588 REVENUE YTD JULY AUG/SEPT YTD SEPT MEMBERSHIPS $166,849 $23,402 $190,251 MERCHANDISE $4,959 $464 $5,423 NEWSLETTER ADS $9,450 $1,675 $11,125 CONTRIBUTIONS $4,496 $859 $5,355 AFFILIATE DUES $11,087 $302 $11,389 PROGRAM AND OTHER $8,063 $4,176 $12,239 ANNUAL CONVENTION $0 $6,630 $6,630 TOTAL REVENUE $204,904 $37,508 $242,412 2003 GAIN/(LOSS) $9,345 ($17,521) ($8,176) LOSS OF $52,103 FOR THE 2002 YEAR LOSS YTD 9/2002 ($26,761)
MCRGO PROJECTED FINANCIALS 4th QUARTER 2003 EXPENSES OCT NOV DEC STAFFING $10,139 $10,139 $10,139 OFFICE, COMPUTER AND SUPPLIES $2,300 $2,300 $2,300 TRAVEL/EXPENSE $700 $700 $700 WEBSITE EXPENSE $1,050 $1,050 $1,050 POSTAGE $1,600 $1,600 $1,600 PRINTING/MAILING $7,300 $7,300 $7,300 GUN SHOW & MERCHANDISE $450 $450 $450 LEGAL $0 $0 $0 OTHER $100 $100 $100 PROGRAM $0 $0 $0 ANNUAL CONVENTION $0 $0 $0 YTD SEPT OCT NOV DEC TOTAL EXPENSES $250,588 $23,639 $23,639 $23,639 CUMULATIVE $274,227 $297,866 $321,505 REVENUE OCT NOV DEC MEMBERSHIPS $5,800 $5,225 $6,825 MERCHANDISE $500 $500 $500 NEWSLETTER ADS $0 $2,000 $1,000 CONTRIBUTIONS $450 $450 $450 AFFILIATE DUES $3,268 $3,268 $3,268 PROGRAM AND OTHER $0 $0 $0 ANNUAL CONVENTION $0 $0 $0 YTD SEPT OCT NOV DEC TOTAL REVENUE $242,412 $10,018 $11,443 $12,043 CUMULATIVE $252,430 $263,873 $275,916 Gain/(Loss) ($8,176) ($21,797) ($33,993) ($45,589) CASH IN BANK $15,000 ($6,797) ($18,993) ($30,589)"Today, MCRGO is in the black and has been for months. And it will stay that way; I hired a CPA to handle your dollars. Memberships are processed within seven days. On Target generates nearly $4,000 in ad revenues each issue."
-Chuck Perricone (Reference: 'On Target' July/August 2003, Page 3)