MWPHGL of Maryland Office of the Grand Inspector

MWPHGL of Maryland Office of the Grand Inspector 1307 Eutaw Place, Baltimore, MD MASONIC BUDGET AND FINANCIAL PLANNING The Honorable Lee A Taylor Jr, Most Worshipful Grand Master RW Stephen B. Bush, Grand Inspector RW Albert Adams, Deputy Grand Inspector 1

The Honorable Lee A. Taylor Jr. , 33 o Most Worshipful Grand Master M. W. P. H. G. L. Vision Mission Statement “The Most Worshipful Prince Hall Grand Lodge, Free and Accepted Masons, Maryland Jurisdiction, Incorporated is a fraternal organization dedicated to the fatherhood of God and the brotherhood of man. Our fraternal organization takes good men, builds and develops them, to be better men. We dispense charity, promote good and solid family values and endeavor significantly to aid in the uplifting of humanity. ” Grand Master’s Vision Statement "Wisdom is the principal thing; therefore get wisdom; and with all thy getting, get understanding. " Proverbs 4: 7 MOTTO "Faithful service. Remember the past as we look TO the future. " Stay Firm and Faithful. Let us plan for tomorrow upon the roots of what influenced us to join this great Grand Lodge and our Lodges. Do not let worry and anxiety steal our joy. Let us continue to practice Freemasonry as a charitable, benevolent, educational organization, adhering to the Landmarks of Freemasonry. We must be strong men in our communities, supporting our churches, youth programs, community activities, and being honest law enforcers. Let us direct our attention to relief of the poor, sick and distressed. We must teach the principles, and not be afraid of the changes we would like to implement. The issues of the day can be cumbersome, and the weight seemingly unbearable; but when we wait on the Lord we shall renew our strength. " Scripture: "Let us not be weary in well doing; for in due season we shall reap, if we faint not. " Galatians 6: 9 2

Budget and Financial Planning Introduction • The objective of this class is to help you to create a Lodge budget to effectively and efficiently plan and maintain your Lodge finances. 3

Budget and Financial Planning • What’s a budget for? Your organization functions on at least two kinds of budgets, one that covers your organization as a whole, and smaller program or project budgets. • For the Lodge, the Worshipful Master uses his budget to show he plans to maintain and improve financial operations, accounting for revenues and the variety of Lodge expenses. • If you’re chairing a event, the most convincing part of it is likely to be the budget because it shows your members projected revenues and expenses and the resulting anticipated profit (or loss) from the activity. 4

Budget and Financial Planning All Lodges Should Be Operating From A Budget To Develop a Budget Requires Financial Planning - Financial Planning Includes Evaluating • Income • Expenses • Managing Your Financial Plan 5

Budget and Financial Planning Definition Income – The amount of money received during a Masonic Year. Expense – The cost involved in some activity; a price. 6

Budget and Financial Planning Income • Dues • Fundraisers • Donations • Lodge Assessments 7

Budget and Financial Planning Don’t Panic Over the Numbers • FOR INCOME OR REVENUE: • Make a list of all the expected sources of income. • Examples: – Dues – Fundraisers – Donations/gifts – Initiation Fees – Etc. 8

Budget and Financial Planning Don’t Panic Over the Numbers FOR EXPENSES: • Start by making a list of everything you need for your lodge to function. Examples: Grand Lodge requirements, such as rent, various fees, annual communication registration, etc. , as well as other expenses, such as insurance, utilities, Masonic and office supplies, printing costs, social activities, gifts to charity, etc. • A good resource is the budget your Worshipful Master submitted, which was (or should have ben) approved by the Lodge. 9

Budget and Financial Planning Don’t Panic Over the Numbers • Although the budget is approved by the Lodge, it is not carved in stone. Plans change, circumstances change, expected revenues or expenses may change, etc. • Note: Even though an item may have been included in the approved budget, Lodge members must vote in favor of the expense before Lodge funds may be used. In addition, as you learned in the Auditing session, an approved Order on the Treasurer is required before the Treasurer can write checks or otherwise spend Lodge funds.

Budget and Financial Planning Define Your Priorities MUST SHOULD WANT G. L. Assessments Charity Fraternal Support Facility Fees Community Service Social Affairs Insurance Bond 11

Budget and Financial Planning BUDGET EXPENSES – GRAND LODGE FEES • Annual Maintenance Tax $ 50. 00 per mbr • Annual Per Capita Tax $ 50. 00 per mbr • Scholarship $ 10. 00 per mbr • Charity Fund $ 6. 00 per mbr • GL Raffle Tickets $ 30. 00 per mbr • CHIPS Program $ 5. 00 per mbr • Magazine Subscription Total $ 9. 50 per mbr $160. 50 per mbr Add’l fees - Raised/Healed Brothers Annual Comm. Registration Fee (Per Officer) Temple Renovation Fee $ 70. 00 $150. 00 $100. 00 12

Budget Sample Projected Revenue/Receipts Dues (# members X dues rate) GL Raffle Tickets (6 X $5 per member) Grand Lodge Raffle Tickets (19 X $5 X # members) $6, 000. 00 $660. 00 $2, 090. 00 Fund Raisers (Net Profit) · Bull & Oyster Roast $3, 000. 00 · Christmas Party $2, 000. 00 · Comedy Show $1, 500. 00 · Crab Feast $1, 800. 00 · Jazz Brunch $3, 000. 00 · Masquerade Ball $2, 500. 00 · Scholarship Fundraiser $2, 400. 00 Donations Initiation Fees (# X $110) TOTAL Revenues/Receipts $440. 00 $16, 640. 00 13

Budget Sample Projected Expenses (GL Requirements in Bold) Annual Communication Registration Fee (5 X $15) $750. 00 Annual Trustee Maintenance Tax ($50 X # Members) $1, 100. 00 Charitable Contributions $1, 000. 00 Charity Fund (# Members X $6) Dispensations ($3. 50 each) $132. 00 $24. 50 District Dues $100. 00 Donations to Widows $300. 00 Family and Friends Picnic $600. 00 GL Flowers GL Raffle Tickets (1 st 6 X $5 per member) GL Raffle Split (19 X 5 X # Members X 60%) $35. 00 $660. 00 $1, 254. 00 Hotel (GL Session) $600. 00 Initiation Fees ($110 X #) $240. 00 Insurance $800. 00 Laptop (for Quick. Books Software) $400. 00 Lodge Rent ($150 per month) LOI Registration Fee Masonic Newspapers (# members X $9. 50) $1, 800. 00 $60. 00 $266. 00 14

Budget Sample Masonic Supplies $200. 00 Masonic Support $500. 00 Miscellaneous Expenses $300. 00 Per Capital Tax $588. 00 PM Aprons $600. 00 Printer $100. 00 Printing $250. 00 Quick. Books Software Program $250. 00 Raised/Healed Brothers ( # X $70) $210. 00 Reinstated Brothers (# X $60) $120. 00 Scholarship Fund/GL (# Members X $10) $220. 00 Scholarship Fund/Lodge $1, 000. 00 TH Wise CHIP Program (# members X $5) $110. 00 Trustee Ball Tickets $160. 00 Trustee Souvenir $100. 00 Website Maintenance $100. 00 Workshops (Constituent) $168. 00 Total Projected Expenses $15, 097. 50 EXCESS REVENUES OVER EXPENSES $1, 542. 50 15

Budget and Financial Planning Budget Summary Total Revenues/Receipts $16, 640. 00 Total Expenses/Disbursements $15, 097. 50 Excess Revenues Over Expenses $ 1, 542. 50 16

BUDGET AND FINANCIAL PLANNING Questions ? ? ? 17