Put-in-Bay Chamber of Commerce to Re-focus Finances

In a 3 November 2015 letter to Chamber members, the Put-in-Bay Chamber of Commerce Board revealed financial concerns that require an adjustment in spending priorities.  The letter states, “Our bank account has an estimated balance of $100,000. However, of this $100,000 we will spend an estimated $36,000 on the 2016 Island Guide.  The Board of Directors has decided that bills owed to our members will take priority.”  The Chamber Liabilities identified on 26 October 2015  include a cost breakdown for Reverse Raffle, Oktoberfest, Wine Festival, Payroll, and Other.  The “Other” category lists an IRS penalty of $3032.83 for “W2 non-filing in 2007,” $11,000 for “Emerald Isle Rent 2014” and $16,000 “Emerald Isle Rent 2015,” among lesser items.

The letter explains the Board’s plan to resolve the financial situation in the following manner:

This is how we will reduce expenses in 2016:
• Eliminating the rack card (printed for distribution at turnpike locations)
• Temporarily suspending advertising with WPIB
• Reducing Travel Show expenses
• Not advertising in the 2016 Lake Erie Shores & Islands Island Guide (we DO plan to advertise here in 2017)
• Reducing costs associated with I-LYA winter activities
• Reducing payroll costs
• Reducing office costs (Pitney Bowes, multiple telephone lines, cc processing fees)
This is how we will increase revenue in 2016:
• Selling unnecessary domain names owned by the Chamber
• Participating in advertising co-ops
• Having a Spring fundraiser (we will need your help with this)
• Going into 2017, we would also like to change Chamber membership from a dues system to more of an advertising package.

The following Board Members are identified at the close of the letter:

Kim Stoiber, President
Andy Christensen, Vice President
Tip Boyles, Executive Board Member
Dustin Heineman, Executive Board Member
Katrina Reed, Executive Board Member

Put-in-Bay Daily™ did not receive a reply from the Board President when we e-mailed a request for information.  The next Chamber meeting is scheduled to meet at 1pm Monday, 9 November 2015 at Pasquale’s.  Minutes of the October meeting are available at the Chamber of Commerce Web site in PDF format.