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THE POUND RIDGE LIONS CLUB FINANCIALS |
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All
lion clubs operate utilizing two separate accounts, Non-Charitable and Tax
Exempt Charitable. The Pound Ridge
Club has taken it one step further and has set up two separate corporations,
The Pound Ridge Lions Club, Inc. and The Pound Ridge Lions Club Charities,
Inc. a 501c3 Tax Exempt entity. All
operating expenses of the club such as envelopes, flags, pins, banners and
guest speaker dinners come out of Pound Ridge Lions Club, Inc. account. All funds going into this account come from
the individual club members through dues and member donations. No fundraising funds can be utilized for
club operations. 100%
of all net fundraising proceeds and cash contributions are deposited into the
Pound Ridge Lions Club Charities, Inc. 501c3 Tax Exempt entity and is
disbursed on an annual basis to qualified groups or programs approved by the
club membership that benefit the community or the Lions Zone, District, State
or International projects. |
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Our
club attempts to make our charitable disbursements utilizing a formula of 80%
local and 20% non-local after our commitments to Lion vision and sight
projects. All disbursements are
approved by the membership and are subject to change based on actual
fundraising net proceeds. 100% of net
proceeds are distributed within a 24 month time frame. |
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