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SPCM Newsletter 12/11

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  • sscitymilw@aol.com
    Hi everyone, Enclosed is the newsletter contents. Also like to thank Bob Strauss, Art Chavez and Ken Ottman for their help at Trainfest. A total of 7
    Message 1 of 1 , Dec 3, 2011
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      Hi everyone,

      Enclosed is the newsletter contents. Also like to thank Bob Strauss, Art Chavez and Ken Ottman for their help at Trainfest.

      A total of 7 employees received W2's in 2010, 6 will receive them in 2011.

      Tried adjusting the font size - best I could do.

      Thanks,

      George


      $49,287 Needed to Reach 2011 Revenue Goal

      To date we have deposited $130,713 into our PNC and West Michigan National Bank and Trust accounts in 2011. To meet our goal of $180,000, we’ll need to raise $49,287 by December 31, 2011. Total 2010 revenues were $152,478.

      What happens if we don’t make our goal? The Board of Directors is planning a January 28, 2012 meeting in Manistee (time/place tbd.), and the 2012 budget will be one of the main topics. Organizational performance review for 2011 is another main topic.

      We will need to provide the following payments to governmental entities in 2012:

      USDA Rural Development: $52,801 or more for mortgage interest.
      IRS: Applicable payroll taxes and interest of $14,000 or more.
      State of Michigan: Unemployment and Sales, Use and Withholding tax payments of $7,500 or more.
      City/County of Manistee: $13,000 or more for property taxes.
      Total: Over $86,000 will be needed in 2012 to pay the above.
      To date in 2011, we’ve paid over $50,800 to the above.

      The board and staff have raised prices for 2012 to help increase revenues, and will continue working with the General Manager to reduce staffing, utility, supply and maintenance expenses. Reduced days/hours of operation, self-guided tours, sound and video equipment, volunteer stations, and other means of cost saving are being considered.

      All of the above governmental entities are working with us, and some have forgiven late fees and penalties. We are working to reduce private debts owed to local businesses where and when possible, but the government has priority. We are also instituting accounting changes necessary to provide meaningful data and meet the expectations of USDA, IRS, and others.

      While debt repayment will be the top focus for 2012, we will continue maintenance and restoration work where possible. This includes painting projects aboard the SS City of Milwaukee.


      We Need Your Help

      We can’t borrow an endless supply of money to fund greater spending. We have to live within our means. We also have a project that requires local supervision since our membership resides across the United States.

      Our 2011 staff payroll totaled $40,070.96. 2010 payroll was $45,652.10. At this time we are planning to retain Linda Spencer as General Manager, and Bob Newcomb and Robert Hilliard as seasonal tour guides/maintenance staff. All have made sacrifices to continue working on our project for our benefit, and to maintain our historic vessels. Linda and Bob are now on unemployment, and their return depends upon your donations. Simply put, we need to improve our financial resources to pay our obligations, and to pay the staff necessary to run the business.

      Luckily, we have a hero in the Frank B. Foster Charitable Trust. If members and supporters donate up to $25,000 by March 31, 2012, the trust will match the donations $1 per $1. With the annual $5,000 mortgage support grant, this can result in a $55,000 reduction in our debt. This can also free up operating revenues to pay staff and other operational expenses.

      If you would like to support the challenge, please circle Foster Challenge when you send in your tax-deductible donation. These funds will be matched (up to $25,000) and be used for governmental obligations. If you would like to fund operational expenses, please circle operating. These funds will not be matched, but will help pay staff and other non-governmental expenses. Both categories will be considered membership support (if over $25) for those renewing their memberships.

      Will you be a hero? No donation is too small, and none will be too big. Please write SS City of Milwaukee NHL on your checks, and mail to SS City of Milwaukee NHL, P.O. Box 394, Manistee, MI 49660. Appreciate your support!


      We Need Your Help

      We can’t borrow an endless supply of money to fund greater spending. We have to live within our means. We also have a project that requires local supervision since our membership resides across the United States.

      Our 2011 staff payroll totaled $40,070.96. 2010 payroll was $45,652.10. At this time we are planning to retain Linda Spencer as General Manager, and Bob Newcomb and Robert Hilliard as seasonal tour guides/maintenance staff. All have made sacrifices to continue working on our project for our benefit, and to maintain our historic vessels. Linda and Bob are now on unemployment, and their return depends upon your donations. Simply put, we need to improve our financial resources to pay our obligations, and to pay the staff necessary to run the business.

      Luckily, we have a hero in the Frank B. Foster Charitable Trust. If members and supporters donate up to $25,000 by March 31, 2012, the trust will match the donations $1 per $1. With the annual $5,000 mortgage support grant, this can result in a $55,000 reduction in our debt. This can also free up operating revenues to pay staff and other operational expenses.

      If you would like to support the challenge, please circle Foster Challenge when you send in your tax-deductible donation. These funds will be matched (up to $25,000) and be used for governmental obligations. If you would like to fund operational expenses, please circle operating. These funds will not be matched, but will help pay staff and other non-governmental expenses. Both categories will be considered membership support (if over $25) for those renewing their memberships.

      Will you be a hero? No donation is too small, and none will be too big. Please write SS City of Milwaukee NHL on your checks, and mail to SS City of Milwaukee NHL, P.O. Box 394, Manistee, MI 49660. Appreciate your support!



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