Final Alumni Accounting for SY2009-2010

Dear Crooms AoIT Alumni Donors and Supporters:

Attached you can find the summary information and quick read ledgers for the 2009-2010 School Year (and previous years if you wish to compare). Book closing occurred on May 8th, 2010. This year we raised $455.00 in donations, $45.00 in matching grants, and $3.31 in miscellaneous revenue, for a total of $503.31; added to reserves that equals $558.31. Total expenses were $571.13, leaving us with a deficit of -$12.82.

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This year marked our fourth year or giving a scholarship, and our first year of providing a product (shirts). We are also preparing to host our first event (the BBQ) – while the locational costs appears on this year's statement, the food costs and revenue (god willing) will appear on next year's statement. Alumni also participated in College Teach-In Day again this year and it is my understanding that another one is being planned by Larry and Justin to target the seniors before they graduate this June.

Unfortunately, this year proved to be a difficult year. While we collected $100.00 more in donations as compared to last year, most of that money came after an emergency message stating we may not be able to provide the scholarship for SY2009-2010. We face a serious problem in the future if we do not diversify our revenues and grow the number of donors we collect from. The matching grants came from one of our largest donors, meaning nearly 50% of our revenue came from two donors, and 81% coming from our four largest donors. While each donation is vital, we should not be relying on only four individuals to provide the bulk of our revenues.

It is at this time that we are need to seriously consider what our commitment is to this program and whether we should continue operations for the upcoming year. It is my hope that the Alumni BBQ will prove to a be a turning point where we will be able to not only encourage stronger participation, but also generate some revenue. Sadly, early indications show this may not be the case (unless all the "Maybes" plan on attending and paying). As it stands, we will conduct our normal survey in early August of members of the Planning Group as whether to offer a scholarship. We have plenty of followers on Facebook, but we need to find ways to convert that following into action. I look forward to being able to speak with you all over the coming weeks and at the BBQ as we look for ways to confront this problem head on.

Thank you for your continued support!