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Re: Echo and how it was paid for

At 07:10 AM 01-06-2004, Barry wrote:
>Perhaps you might provide a break down of money from donations and money 
>which was taken from the reserve and will never be replaced.

What's this "will never be replaced?"  From where does this erroneous idea 
come?  We made a load to ourselves which should be repaid in order to meet 
prior commitments.

>In the two budgets I helped prepare there were two large payments out of 
>the reserve towards ECHO.(100,000 dollar range)

The budgets you helped prepare showed expenses, not the sources of the funds.

>Since the reserve is made up of stock shares and mutual funds and the the 
>reserve lost value over the last few years I can't imagine there being 
>much extra income coming from the reserve.

Actually, we've done rather well in preserving the value of our assets and, 
even, earning some money.  We have a very good account exec who has kept us 
doing reasonably well.

>I regards to point # 5 the services AMSAT delivers are shrinking and 
>"Services" exclusively for members is almost non-exsistant. Our yearly 
>dues is basically paying for a monthly Journal and Martha's salary and the 
>related expenses.

Yes and no.  At the current level of Membership, the answer is 
approximately yes.  However, because our overhead is nearly fixed, having 
more Members leaves us more money to use for projects.  So, the more 
Members we have, the lower the percentage of overhead.

>So most of what you said makes sense I am just not sure to whom.

The Board, I hope.

73, art..... 

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