February 2016 was a quiet month, with neither deposits made or check written. So our balance remains the same – $48,358.44.
I did spend some time getting ready for 2016 – creating a new notebook to track our finances, setting up a new spreadsheet. While doing that, I did a quick look at our finances over the last couple of years. Up until December of 2014, our cash balance was around $10,000. So what happened?
The answer to that goes tack to the National AGO Convention which was held in Chicago. The Chicago, North Shore, and Fox Valley were the sponsoring chapters for that convention. Somewhat surprisingly, after all was said and done, there was about $100,000 left from the proceeds of that convention. A foundation was formed, called ChicAGO 2006 Foundation. Each chapter appointed representatives to that foundation, and they met regularly to discuss possibilities for managing and spending those funds.
By last year, the Board of the ChicAGO 2006 Foundation along with the consensus of the three AGO Chapters made the decision to dissolve the Foundation and to distribute the remaining funds to the three Chapters to administer as they desire.
The board is in discernment this year as to how to best manage and spend those funds, and will keep you apprised of any decisions made. We are grateful for the luxury of such financial stability in an era when many non-profit organizations are struggling.
Laurie Stivers
Laurie Stivers, treasurer