162
THE INFORMATION presented below
comes from the Notes to Financial
Statements. The Statement of Financial
Position contains a great deal of net
presentation of numbers. Below is an effort
to break out the information in categories
and you will see these items are titled the
same as the items on the Statement of
Financial Position.
If you have any questions, you may call
me and I will be happy to discuss them
with you.
Since my last column, I have attended the
Budget Committee meeting. A budget has
been presented to the Executive Council
that has an excess of revenue over
expenditures. Until it is approved, the
Council may alter the figures. I will,
therefore, present information on this at a
later date.
In my travels, I have met and spoken with
some interesting people. There seems to be
some interest in model airplane clubs
Executive VP’s Report
Doug Holland
AMA Executive VP
3517 Fernwood Dr.
Raleigh NC 27612
(Home) (919) 787-5163
(Office) (919) 787-7454
04jan.qxd 10/23/03 12:06 pm Page 162
January 2004 163
purchasing their fields. This is an excellent
strategy if the club is large enough and
financially sound.
A real advantage is that if the field has
to be relinquished, the club has an asset to
sell as appreciated property that could
result in a substantial profit. If anyone is
considering that possibility, call me and I
can give you some ideas about financing.
For those of you who are in a position to
consider gifts to AMA or inclusion of
AMA in your will, I would welcome the
opportunity to discuss that with you. There
are some methods of giving that allow you
an income tax deduction now, return on
the money for the rest of your life, and a
gift to AMA.
With the stock market improving and
hopefully the economy also, it may be a
good time to consider such plans.
Someone asked me when I was going to
retire. I told him I did not plan to retire
because my “play” was too expensive. I
have personally found that work is the
price of money and I cannot afford to quit.
Until later, Always Be Courteous.
04jan.qxd 10/23/03 12:06 pm Page 163
Edition: Model Aviation - 2004/01
Page Numbers: 162,163
Edition: Model Aviation - 2004/01
Page Numbers: 162,163
162
THE INFORMATION presented below
comes from the Notes to Financial
Statements. The Statement of Financial
Position contains a great deal of net
presentation of numbers. Below is an effort
to break out the information in categories
and you will see these items are titled the
same as the items on the Statement of
Financial Position.
If you have any questions, you may call
me and I will be happy to discuss them
with you.
Since my last column, I have attended the
Budget Committee meeting. A budget has
been presented to the Executive Council
that has an excess of revenue over
expenditures. Until it is approved, the
Council may alter the figures. I will,
therefore, present information on this at a
later date.
In my travels, I have met and spoken with
some interesting people. There seems to be
some interest in model airplane clubs
Executive VP’s Report
Doug Holland
AMA Executive VP
3517 Fernwood Dr.
Raleigh NC 27612
(Home) (919) 787-5163
(Office) (919) 787-7454
04jan.qxd 10/23/03 12:06 pm Page 162
January 2004 163
purchasing their fields. This is an excellent
strategy if the club is large enough and
financially sound.
A real advantage is that if the field has
to be relinquished, the club has an asset to
sell as appreciated property that could
result in a substantial profit. If anyone is
considering that possibility, call me and I
can give you some ideas about financing.
For those of you who are in a position to
consider gifts to AMA or inclusion of
AMA in your will, I would welcome the
opportunity to discuss that with you. There
are some methods of giving that allow you
an income tax deduction now, return on
the money for the rest of your life, and a
gift to AMA.
With the stock market improving and
hopefully the economy also, it may be a
good time to consider such plans.
Someone asked me when I was going to
retire. I told him I did not plan to retire
because my “play” was too expensive. I
have personally found that work is the
price of money and I cannot afford to quit.
Until later, Always Be Courteous.
04jan.qxd 10/23/03 12:06 pm Page 163