DID YOU KNOW???

Treasurer’s Report by Laurie Thompson

DID YOU KNOW??? Effective March 1, 2020: 25% of the net proceeds from any regional designated event will be sent to the State Treasurer to cover possible tax liabilities arising from the income earned from the event. All regions are allowed to host one regional designated event per year with the profit being given to an individual, an outside organization, or an internal division of ABATE of WI. Although we promote community involvement and giving to charitable organizations, most members are not aware that ABATE pays income tax on the monies that come in from these events that go out then to an outside organization. In some cases, the event ends up as a loss for ABATE because 100% of the profit goes outside of our organization but yet we must pay income tax on the money that was raised. We will be discussing this in greater detail at Officer’s Training and sending everyone home with updates for their Policy & Procedures Manual (aka Redbook).

RAFFLE LICENSES – If you have not sent me a copy of your class A or class B license, please send me an email or send a copy through USPS. I can help with questions or if you just need clarification on what is needed for each type of raffle. In this case, it is not acceptable to beg for forgiveness after the fact….

LAST CALL for Sweetheart Raffle Tickets! Tickets will be sold right up to the drawing on Sunday, February 9 before the Board of Director’s Meeting at the Hotel Mead (approximately 11:30). Cost is $5 for 2 tickets and you can win $1000-1st prize, $500-2nd prize, $250-3rd prize. Thank you to everyone who helped sell the tickets and also to everyone who purchased them – good luck! Winners will be posted on our Facebook page and also notified by phone.

SUMMER cash raffle tickets will be available at Officer’s Training to buy and distribute to the regions. We changed it up this year! $20 per ticket, ONLY 600 sold. Prizes: 1st $1500, 2nd $1000, 3rd $700, 4th – 6th $300, 7th – 15th $150, 16th – 20th $50. Get them before they’re gone!!

As always, please direct questions to treas@abatewis.org or (262) 649-3591.