Revision as of 08:15, 16 June 2025

Agenda

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 == Treasurer Report ==
-* First, know that the LVL1 IRS 990-EZ filing for calendar year 2024 was completed and then submitted to and accepted by the IRS prior to the recent May 15 deadline.
-** LVL1's 2024 Opening Balance was $65,385.
-** LVL1's 2024 Revenue was $52,746.
-** LVL1's 2024 Expense was $49,064.
-** LVL1's 2024 Net was $3,682.
-** LVL1's 2024 Closing Balance was $69,067.
-* Second, more recently, the month of April 2025 was back to being cash negative.
-** Here is the link for the [https://drive.google.com/file/d/1hJVPUyfj1s9mhVtfaWBqPoxcgEKlEns1/view?usp=sharing LVL1-FinancialSummary-202504.pdf] with the following values:
-** April 2025 REVENUE was $4,706.24.
-** April 2025 EXPENSE was ($5,191.83).  The majpr expenses included another large LG&E bill at ($1,430.57) and the sewing machine repair course FAP expense at ($699.99).
-** April 2025 NET was cash negative at ($485.59) for the month and we are also cash negative at ($841.49) year-to-date.
-* Things will improve financially if and when we add a few new members.
 == New Business ==