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An Overview
of Toastmasters
Frequently Asked Questions
GMU-specific Information
Join GMU Toastmasters Now
Member Dues & Club Finances
Electing
GMU Officers
Report on Our First Meeting
Downloadable Documents
Overview of First 10 Speeches
Detailed Description of Speech 1
(The "Ice Breaker")
How to Build a Toastmasters Club
(40 page PDF)
Agendas
5/13/08
5/23/08
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Member Dues & Club Finances
Club Finances
When we become a "chartered" (official) Toastmasters club, Toastmasters International (TI) World Headquarters will apply for a non-profit EIN (tax ID) number on our behalf. Then we can open a bank account in the club's name and our Treasurer will handle all finances. In the meantime, the plan is to trust me. The easiest arrangement is to make the checks payable to Andrew Finn and I will write the 'big check' to Toastmasters International for the club. I will, of course, make a detailed and complete accounting of all funds collected and turn it all over to our new Treasurer - when we have one. In the meantime, I will surrender my passport to any member worried this might be a variation of the Nigerian Bank scam (my apologies to any Nigerian members or friends, but that Internet scam DID originate there!).
Member Dues
Last Tuesday, I did not explain the first two expenses we must pay as a new club. Here are all the expenses we must cover:
- the one-time $125 "Charter Fee" (we'll make that $6 per member for the first 20 members)
- the initial, one-time, $20 "Service Charge" that EVERY new Toastmaster must pay
- Toastmasters International dues are a standard $27 every 6 months
- In addition, I strongly recommend we do what both my other clubs do - add $3 per person so we have a small pot of money to work with for miscellaneous expenses.
Thus, everyone who joins as a "charter member" will pay $56 for the first six months when they join, and then $30 every six months thereafter. To repeat, that's $6 per Charter Member (to cover the $125 Charter Fee), the standard $20 Service Charge, $27 to Toastmasters Int'l, and $3 to the local club, for a total of $56. As a club, we are free to drop the extra $3 fee later, or even increase it in the future so we have more money for local club expenses.
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