LNC Sinks into Financial Hole
By phillies
Spending outruns income
For late November and all of December, the Libertarian National Committee raised $98,498 and spent $108,113, leaving it at the end of the year with $3178 cash on hand and $48,894 in debts, or so its FEC reports say. Those debts were $9,682 at the start of the reporting period, while cash on hand was $12,793 at the start of the period. For the corresponding period in 2004, the LNC raised $123,052. So where did the money go? Political advertising approached 0.2% of the total.
Office rent was 9903. The Central Parking System received $240. The employees to put in that office cost much more. Employee Net Pay, to Andrew Davis, Austin Petersen, Casey Hansen, Louise Calise, Mark Meranta, Robert Kraus, Sean Haugh, and Susan Dickson, came to $26,521. There were also all those other charges that come with paying people, including Carefirst CapitalCare MAMSI - UnitedHealth, the District of Columbia for withholding, unemployment, and administration, Medicare and Social Security for company and employer, 401 K Contributions, employee goodwill gift cards, and withholding for Virginia, North Carolina and South Carolina, totalling $13,293.7. Someone was paid $1053 to cover a UHaul Internation bill as moving expense reimbursement. Payroll processing cost $186 to Quickbooks.
Those employees needed tools. Copier lease and maintenance was $690. Credit card processing fees were $2016. Office supplies were $114. Information Technology? Blackbaud, Inc. received $9750 for their Software Annual Licence and Maintenance Fee. Lyris Tech - Sparklist received $7774 for web and email hosting, Terra Eclipse received $4500 for web site management, and Rackspace USA received $649 for web site hosting. Phone and data came to $1513, including payments to AT&T - Mobility, PAETEC - US LEC Corp., Telecompute Corporation, and Verizon Wireless. ThePlanet.com got $574 for Email Server Hosting Expense. Intuit Software earned $84.57 for quickbooks maintenance. PC remote access was $44.94. Non-Party editing, mailing, and printing cost $11,776. Postage and meters cost $805.90. Annual Business Reply Mail fees were $745. Address and phone confirmations were $57.21 to Accurint.
Bank and other service charges included $262 to Riggs Bank, $1453.7 to Mercantile Bank of Michigan for managing he quite substantial Escrow Trust, and 52.92 to PNC for finance charges, Legal Expenses totalled $5523, namely $2898 to Gary Sinawski and $2625 to Warner, Norcross & Judd. D and O Insurance was $1642 covering two months. State Farm got $448 for other insurance. The LNC Meeting at the Town and Country Resort cost $3142 for the site and $151 for meals. Staff travel costs are inapparent. Last and least, the party advertised, sending $182.63 to Google for the Party branding project.
LNC Sinks into Financial Hole | 2 comments (2 topical, 0 hidden)
LNC Sinks into Financial Hole | 2 comments (2 topical, 0 hidden)
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