Executive VP’s Report
Doug Holland AMA Executive VP
Contact
- Address: 3517 Fernwood Dr., Raleigh, NC 27612
- Home: (919) 787-5163
- Office: (919) 787-7454
Notes to Financial Statements
The information presented below comes from the Notes to Financial Statements. The Statement of Financial Position contains a great deal of net presentation of numbers. Below is an effort to break out the information in categories; the items are titled the same as the items on the Statement of Financial Position.
If you have any questions, you may call me and I will be happy to discuss them with you.
Budget Committee
Since my last column, I have attended the Budget Committee meeting. A budget has been presented to the Executive Council that has an excess of revenue over expenditures. Until it is approved, the Council may alter the figures. I will, therefore, present information on this at a later date.
Club Field Purchases
In my travels, I have met and spoken with some interesting people. There seems to be some interest in model airplane clubs purchasing their fields. This is an excellent strategy if the club is large enough and financially sound.
A real advantage is that if the field has to be relinquished, the club has an asset to sell as appreciated property that could result in a substantial profit. If anyone is considering that possibility, call me and I can give you some ideas about financing.
Planned Giving
For those of you who are in a position to consider gifts to AMA or inclusion of AMA in your will, I would welcome the opportunity to discuss that with you. There are some methods of giving that allow you an income tax deduction now, return on the money for the rest of your life, and a gift to AMA. With the stock market improving and, hopefully, the economy also, it may be a good time to consider such plans.
Personal
Someone asked me when I was going to retire. I told him I did not plan to retire because my "play" was too expensive. I have personally found that work is the price of money and I cannot afford to quit.
Until later, Always Be Courteous.
Transcribed from original scans by AI. Minor OCR errors may remain.
