INTERNATIONAL THEOSOPHY CONFERENCES, INC.

FINANCIAL INFORMATION

There has been some confusion and misunderstanding of how the cost of $50 for the Lunch on Friday was determined and how the $50 donation was recommended for the overall conference costs.   Hopefully, this statement will help to clarify.  The determinations were made as follows:

1.  A.   $50 for the Lunch on Friday at the hotel.  The Radisson Hotel has menu selections which range from $26 to $36 per plate.  It was learned that the buffet lunch offered was actually not as cost efficient as plated lunches which are served.  Not sure at this point what selection was going to be picked, I estimated that $30 per plate would be within the range.  It should also be known that the Hotel is paid for the Meeting Room by serving the lunch.  While it may be that one could purchase lunch in the nearby area for approximately $20, the extra $10 pays for the cost of the meeting room and in this way the cost is shared by all. 

B.  Service Charge.  There is a 20% service charge required by the hotel which is the same as a tip for the servers.  20% of $30 is $6.00.

C.  Parking.  The parking fee is $8.00.  While it is true that guests at the hotel have free parking, for all others it is $8.00.  It is understood that on a comparison basis this is a good rate.

D.  Audio Visual Equipment.  The hotel charges for this.  For our meeting it was estimated the total cost would be $300.  We estimated that perhaps as many as 60 would attend and if this is shared it would be $5.00 each.

E.  Total cost per individual for Friday Lunch.  $30 + $6.00 + $8.00 + 5.00 = $49.  To cover the unexpected a $1.00 was added.   TOTAL = $50.00 for Friday Lunch.

2.         $50 Recommended as a Donations.  The following costs were considered:

            A.  Advertising   $1000.00

            B.  Liability Insurance required by the hotel $300.00

            C.  Filming of Conference – discussed previously $300.00

The Divisor picked was 32 as this was the number of rooms we have reserved at the hotel.  $1000 + $300 + 300 = $1600 divided by 32 = TOTAL = $50 as a recommended donation.  Sally Colbert’s previous email recommended we use boxes which can be checked off as $10 - $20 - $300, etc. donations is a good one.  If there are those not comfortable with a $50 donation or no donation, it will all still work in that traditionally, there have been, in the past, several theosophical groups which have made independent donations and the same will probably hold true for this conference.  These larger donations are very much likely to make up any shortfall.  I hope the above is clear and please feel free to make comments.

James Colbert, Treasurer