Fact Check: Is Party Income Plummeting? Verdict: Fake News

2018 Jan-Feb LNC Revenue

I know we are all in the excitement of internal Party races and the promise of new ideas and possibilities. But somewhere along the line I read (and I don’t remember from who so this is not a finger pointer) that the Party’s revenues are plummeting. That simply is not true. I am sure it was said through inadvertence or misunderstanding, but let’s please stick to what is correct and not diminish the work of others, including our fantastic Head of Development.
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Dear LNC,
February 2018 revenues were exceptionally strong according to preliminary data.
Total revenue for February was $196,956, including $23,599 for the convention.
When excluding convention revenues and bequests, and adding January and February’s revenues together, our numbers so far for 2018 are excellent:
they exceed all of the revenues for the same time frame for the last 10 years;
they are 49% above the 10 year average;
they are 45% above the average of the last 5 even-numbered years.
Many thanks to all of our donors and members who have contributed.

Lauren Daugherty
Head of Development
Libertarian National Committee

December 2017 End-of-Month Financial Report Released

annual-report

The December End-of-Month Financial Reports are attached.

The year ended with a deficit of $41,424 versus a budgeted deficit of $284,900. Total Revenues for 2017 were $1,585,994, which is $86,794 higher than the budget. Total Expenses were $1,627,418, which is $156,682 below the budget.

The Policy Manual requires me to report to the LNC budget lines that exceed the budgeted expense amount by 10% or $100, whichever is more. The 50-Affiliate Support Expense was $55,356. Its budget was $45,000, so Affiliate Support went over budget by $10,356 or 23%.

The LNC had $6,831 of prepaid convention expenses and $101,728 of deferred convention revenue in 2017, both of which will be booked in 2018.


Tim Hagan
Treasurer, Libertarian National Committee

You can view the report here.

November 2017 End-of-Month Financial Report Released

annual-report

The November End-of-Month Financial Reports are attached. The reserve had dropped to $55,635, which is slightly below the target of $57,042. We received the first payment from the Clinard bequest in December, so I expect the reserve will be back above the target.


Tim Hagan
Treasurer, Libertarian National Committee

You can view the report here.

September 2017 End-of-Month Financial Report Released

annual-report

The September End-of-Month Financial Reports are attached. The reserve has improved, increasing to $136,544 versus a reserve target of $57,042.

The Brand Development/Political Materials Expenses at $58,244 has almost reached its annual budget of $60,000, with one quarter left in the year. Brand Development/Political Materials Revenues was at $49,974. We need to increase these amounts if we want headquarters to continue selling shirts and literature. Having our members wearing the Libertarian apparel and handing out literature helps build brand awareness.

I am seeking co-sponsors to increase both 26-Brand Development/Political Materials Revenue and 55-Brand Development/Political Materials Expenses from $60,000 each to $80,000 each.

Tim Hagan

You can view the report here.

June 2017 End-of-Month Financial Report Released

annual-report

The June End-of Month Financial Reports are attached. The reserve is now down to only $111,075.

Dr. Frank Clinard, Jr., of Los Alamos, NM, left a bequest of $111,863 to the LNC. His bequest was booked as revenue in June. The FEC has ruled that contribution limits apply to bequests. The LNC is still litigating the limit. The amount over the $33,900 limit for general funds is being placed in an escrow account.

Dr. Clinard (1933-2016) was the world authority on Radiation Damage in Materials at Los Alamos National Laboratory, Fellow of the American Ceramics Society, Libertarian candidate for New Mexico State Senate in 1992, and served as the LPNM Public Relations Director.

Tim Hagan

You can view the report here.