Important – GMGSO Financial Information

From: Tim Walker
Date: Thu, Jun 7, 2018 at 8:40 PM
Subject: Important – GMGSO Financial Information


Hello GMGSO Parent-Members,

 

The GMGSO is happy to report that a credit will be coming back to all eligible families that will be applied to your 2018-19 gym expenses. This year the GMGSO will provide a total credit of $22,225.00 to 127 eligible families. That means a total of $175 will be credited to each eligible family, per gymnast.

 

$100 will be credited towards your GMG Team fee, per gymnast.

 

$75 will be credited to cover your annual GMGSO Membership Fee, per gymnast. The fee covers the following items:

  • $30 to cover one Awards Banquet ticket.
  • $15 to cover Holiday Party expenses.
  • $15 to cover Team Bonding expenses.
  • $10 to cover Pool Party expenses.
  • $5 to cover Incidental Team expenses (team bows, etc.)

 

We would not be able to make this happen without our volunteer’s work and fundraising efforts throughout the year. Thank you all for your efforts!

 

As the GMGSO Board had been finalizing our financials for the 2017-18 season, we have received many inquiries regarding a credit. Please remember that any credit provided is not a guarantee each year. Providing a credit is only possible if there are funds leftover –  after covering all expenses incurred during the preceding season and retaining a minimum amount in the GMGSO general operating fund. During the 2017-18 season we experienced a combination of decreased revenues from GMGSO sponsored events and increased expenditures for activities included in the GMGSO’s charter, resulting in less funds leftover for a credit. Some examples of this are:

 

  • Less sessions in the Extravaganza and AZ Grand meets – resulting in lower revenue.
  • Increased travel expenses for coaches to attend post-season events, such as State, Regional, Western and National meets, participation in TOPs development events. As our gym continues to mature, we are experiencing higher numbers of gymnasts competing at Optional levels where Regional, Western and National competitions become more likely. Which is good news! In 2017-18 we had record numbers participating during the post-season. However, this also means travel expenses covered by the GMGSO also experienced record numbers.

 

The GMGSO has fielded a number of questions regarding volunteer work during the season. This could include volunteering to work GMGSO sponsored meets, such as the Extravaganza and AZ Grand, or volunteering to help with GMGSO sponsored fundraising efforts. Please know that your volunteer work is greatly appreciated and is critical for providing our gymnasts with the best possible experience. Your volunteer work is an “in-kind” contribution that results in GMGSO sponsored events being a great success. For example, the overwhelmingly positive feedback that Amanda and Brad receive regarding the quality of the Extravaganza and AZ Grand meets is a direct result of our GMGSO volunteer’s work.

 

Keeping your minimum GMGSO parent-member commitment of volunteering to work at GMGSO-sponsored events (2 sessions at the AZ Grand + one additional volunteer session) contributes to the high-quality reputation that those events have. However, it does not guarantee a year-end credit if there are no leftover funds at the end of a fiscal year.

 

Volunteering to help with GMGSO fundraising efforts, such as the annual golf tournament, or selling football or hoops mania tickets, or contributing raffle baskets for meets, go directly to helping offset expenses and can have the greatest impact toward generating a larger credit at the end of season. Our mission is not to increase the amount of fundraising activities we have, but to maximize the ones we already have. In most cases, we have hardly scratched the surface of these opportunities (Last year we only had 20% participation in GMGSO fundraising efforts.)

 

In closing, the GMGSO Board thanks all of our parent-members for their continued support toward providing our gymnasts with the best possible experience. Please know that you are always welcome to attend our monthly meetings – where we share information about on-going GMGSO activities, as well as monthly financial information. We recently updated our email list to ensure you are receiving regular communications and we are committed to improving communications throughout the upcoming season.

 

If you have any questions, or would like further clarification on any GMGSO matters, I invite you to email them directly to me at president@gmgso.org

 

Thank you,

 

Tim Walker

GMGSO President