Go Back  Quiltingboard Forums > Main
Guild Treasuries >

Guild Treasuries

Guild Treasuries

Old 06-12-2013, 04:27 PM
  #1  
Senior Member
Thread Starter
 
Join Date: May 2011
Posts: 311
Exclamation Guild Treasuries

This thread was inspired by the thread, "How much are your annual guild dues?"
The two guilds that I belong to have over $30,000 in their treasuries. What do you think of this?
My opinion, spend it! We still are requested to contribute quilts and handmade objects as fundraisers--so raising $$$ is always a high priority.
We can get in some good speakers, but their workshops fill up very quickly. Maybe I'm behind the times, and it is perfectly justifiable. I look forward to your opinions!
SmickChick is offline  
Old 06-12-2013, 04:35 PM
  #2  
Power Poster
 
Join Date: Mar 2011
Location: Ontario, Canada
Posts: 41,444
Default

I don't think guilds should have a large amount of money unspent. I wold think $10,000 would be enough to put on a quilt show and anything else should be used to benefit the members. I also think there should be some bylaw in place of which charity the money shoud go to if the guid dissolves and at what number of members it is dissolved.
Tartan is offline  
Old 06-12-2013, 04:36 PM
  #3  
Power Poster
 
BellaBoo's Avatar
 
Join Date: Jan 2009
Location: Front row
Posts: 14,646
Default

What is the guild saving it for? All a guild needs is the yearly expenses met every year. The rest is gravy. I would be speaking up about having the workshops extended as many days as necessary so everyone gets a spot. I don't like fundraising when it's not necessary.
BellaBoo is offline  
Old 06-12-2013, 04:57 PM
  #4  
Super Member
 
Join Date: Aug 2010
Location: Piedmont Virginia in the Foothills of the Blue Ridge Mtns.
Posts: 8,562
Default

The most important question is: Is your guild a non-profit? If it is, there should be an auditing to determine if they are still maintaining their non-profit status when they have such a balance in the account.

Also, if the guild is non-profit the funds are *not* to be used just "for members" but for the promotion of the art of quilting for the benefit of the members *and* the public. Certain numbers of hours are to be spent in community work through donating charity quilts and other projects. Non-profits give back, that's the point.

If your guild does not have non-profit status, which will require some expense and time to acquire, perhaps that's something that ought to be looked into since it has all this money.

If they are not interested in non-profit, then I'd imagine some serious questions need to be answered about who is truly responsible for this fund from board to board. What happens to it if/when the guild disband, or the banks defaults, or a board member absconds with it, or they are challenged by a member or a public person?

Seriously, if I were a member of that guild I'd really want to know how long it has been building, has been collected, is being spent, and what the future plans for it are. If the board is not forthcoming, I'd collect several like-minded members, ask for a place of the meeting program, and bring the issue up for discussion and vote at a meeting.

Our guild of 110 members does not have non-profit status, charges $20 membership annually, puts on a show every 3 years, donates up to 250 community quilts annually, pays a small amount each month for the use of our meeting space, operates on a budget of less than $2000 yearly and is going strong and drawing new members several times a year. I can not imagine a guild having $30,000 in the bank, even if they had 800 members! And I've been "doing" guilds for decades.

Jan in VA
Jan in VA is offline  
Old 06-12-2013, 05:59 PM
  #5  
Power Poster
 
QuiltnNan's Avatar
 
Join Date: Mar 2011
Location: western NY formerly MN, FL, NC, SC
Posts: 51,433
Default

Jan's thoughts were my first thoughts as well
QuiltnNan is offline  
Old 06-12-2013, 07:21 PM
  #6  
Power Poster
 
dunster's Avatar
 
Join Date: Mar 2009
Location: Lake Elsinore, CA
Posts: 15,133
Default

The expenses of a large guild are considerable, and money usually has to be on hand for booking speakers as much as a year (or more) in advance. Some guilds only do fund raising every other year, and so the money we have on hand right after the quilt show (our big money raiser) has to last for two years. Before you condemn the guild for having so much in the treasury, find out why it's there. Ask for a treasurer's accounting, but be prepared to spend some serious time reading and understanding the report, and asking questions. I was surprised to learn that my membership dues ($25/year) barely pay for producing and mailing the monthly newsletter. (I'm going to change to the email-only version to help the guild save money.) Rent for a room large enough to hold us can be very high, and the guild also must pay for insurance.
dunster is offline  
Old 06-12-2013, 07:25 PM
  #7  
Super Member
 
Join Date: Oct 2009
Location: Maine-ly Florida
Posts: 3,917
Default

Money is a hot topic in our guild, right now. Our dues were just raised to $25 from the $15 set in the 1970s. Long overdue...we put on a show every year, a getaway every year, have speakers at some meetings, and do charity quilts. Oh, and we fund two local college scholarships. We sure don't have $30,000 but I don't think we should.
lots2do is offline  
Old 06-12-2013, 08:14 PM
  #8  
Senior Member
 
Sally J's Avatar
 
Join Date: Apr 2011
Location: San Jose, Ca
Posts: 370
Default

My guild has over 400 members, due are either $25 or $30 (I forget which). We are able to get really well known speakers and that is great. They do have large costs for a guild of this size and they have a considerable balance in the bank.
Sally J is offline  
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
liont
Main
5
06-12-2013 02:11 PM
rvquilter
Main
9
03-19-2011 01:22 PM
O WHO?HookEMWe'rebetternU
Main
33
09-09-2010 12:03 AM
nanabirdmo
Main
37
08-10-2010 09:16 PM
O WHO?HookEMWe'rebetternU
Main
19
11-09-2007 07:07 PM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


FREE Quilting Newsletter