PRCCI Annual Treasury Report 2014
There are two financial issues we are concerned with in PRCCI:
1.  Will the calendar sales return sufficient funds to PRCCI to finance next year's calendar effort (about $8,500 for printing calendars and purchasing the lottery license from the State) and to meet PRCCI's small operating expenses (pay accounting expenses in filing the annual tax return, purchase insurance to cover the officers, file the annual corporate report, miscellaneous administrative fees such as the post office box, etc.)
2.  Will the $335,000 investment fund return sufficient earnings to enable significant charitable grants to our community to assist Petoskey Rotary Club's efforts to truly "make a difference" for our area.
How did we do this year?
1.  In April of 2014, the 2013 Calendar sales closed out and paid PRCCI $14,030.  This was sufficient to finance the 2014 Calendar sales effort and meet PRCCI administrative expenses for the year.  We currently have a balance in the general fund of $3,899.  This is sufficient to cover miscellaneous admin expenses until the 2014 Calendar sales effort closes out.  That effort had sufficient sales that it appears it will also close out with sufficient earning for PRCCI to cover support expenses for the 2015 Calendar sales effort and to meet general admin expenses comfortably. 
PRCCI is financially sound.
2.  Since the last annual report, PRCCI has made six (6) charitable grants totaling $8,500 (4 in December and 2 in May) and committed $25,000 to the PPS for the athletic complex (We removed the $25K from the market & placed it in a savings acct).  Our investment fund (Petoskey-Harbor Springs Area Community Foundation fund - PHSACF) grew from $356K in January to $382K at the end of August.  Since our fund corpus is $335K, you can see that we could easily cover our grants of $8.5 K and $25K with that amount with a bit over $10K to spare.  Unfortunately, in Sept the market took a sharp dip and our fund was reduced to $370K.  The grants of $8.5K had already been paid out, so we only were committed to $25K, which left us with $345K -- a bit close to our corpus amount with the thought that the market might go down significantly more.  So we decided not to make a Fall season call for grant applications, but to wait until Spring. 
As it happened, the market has rebounded and we have recovered nearly all of losses.  If the market remains reasonably stable, we should have sufficient funds to pay our $25K obligation to the athletic complex and to provide some unusually generous grants in the Spring grant application call.
So, in this regard also, PRCCI is financially sound.