|2021-01-31||Sarah Grau and Marlena Lanini||2020 Financial Report|
Our 2020 year-end balance leaves us in a good position to offer all club activities in a year that we anticipate revenue to decline due to the pandemic. Our main sources of revenue are club memberships, Shamrock Run, and Run! Turkey Run! (RTR). Net proceeds from RTR are always donated to local food charities and are not used to fund other club activities. The Shamrock Run will be virtual and free this year, so we anticipate a decline in revenue in 2021. Our main cash outflows are donations as well as club overhead expenses. Per club policy adopted in February 2019, we maintained a minimum of $10,000 in our three non-restricted accounts. In 2020, we donated all proceeds from Run! Turkey Run!, but other club donations were smaller than in previous years to ensure that we would have funds during an uncertain time. In 2021, we are making changes to our membership year to align our club roster with participants at club events, which will have the benefit of lowering our overhead expenses in the future.