AWBA
The Art Without Boundaries Association

The  Art Without Boundaries Association has tax exempt status under Section 501(c)(3) of the Internal Revenue Code

TM 2005 Art Without Boundaries™ and MnemeTherapy™ are both trademarks with all rights reserved. You may not copy or
reproduce anything from this website without written permission from AWBA
AWBA Financial Statements
Counter
Association Financial Statements- 2010: A Graphic Guide

Link to Financial Statements is at the bottom on the page
Monthly Financial statements will be posted by the 15th of
the following month.

Click here to view the spread sheet, use your back button to
return to this site.

Click here if you have questions about AWBA Financials
Starting Balance

The money we
have in the bank at
the beginning of
the month
+
Revenues

  • Membership fees
  • Monthly Association Dues
  • Contributions that are not meant for
    anything specific (unrestricted)
  • Contributions given for something
    specific like a student's membership
    fee (restricted)
=
Expenses

  • Internet service
  • Phone
  • Toll free line
  • Webhosting
  • Paypal checkout
  • Bank service
    charge
  • Office expense
  • Mentoring
    bonuses
  • Recruiting
    bonuses
-

Total Cash
Assets
-
Ending Balance

Money we have in
the bank at the end
of the month
=

Association
Management Fee

Expenses
(Including
Association
Management Fee)
-
=
How we balance:

How are your Association Dues being used?
The dues are used to pay expenses such as:

  • Internet service
  • phone
  • toll free line
  • web hosting
  • Paypal Checkout
  • bank service charge
  • office supplies

The Association Management Company REPLACES
the high cost of paying for :  

  • Manager/Executive Director
  • Staff salaries, benefits
  • Office space
  • Office furniture and equipment
  • Maintenance/Insurance for an office or building
  • Utilities
  • Accounting
  • Out-sourced web design and maintenance

The Association Management Company (AMC) is compensated in three ways:
  1. Dues minus expenses
  2. A performance-based Mentor bonus (paid from membership fees).
  3. Training Bonus: Membership fee (minus) Mentor bonus for overseeing the training
    program. The AMC Mentor and Training bonuses are tallied with the Mentor and
    Recruiting bonuses on the spreadsheet.

In addition to the recruiting, training, certification and continuing education
program, the AMC handles these day to day operations and responsibilities:

  • Answer e-mails and phone calls
  • Forward requests from website to Chapter Owners
  • Bill paying
  • Accounting
  • Posting Monthly Financial statement
  • Web design, maintenance
  • Design and update Chapter pages
  • Dues Invoicing & receipts for online payments
  • Track and record dues/invoice payments
  • Track general ledger account information
  • Update Chapter Registry
  • Maintain and contribute to 3 blogs
  • Provide Marketing tools for new Chapters (SmileBox)
  • Co-ordination and communication for Board meetings
  • Host conference calls
  • File Reports with State of FL and IRS
  • Media Relations

    Because we use an Association Management company, AWBA is able to operate
    without continual fund raising.
Membership Fee:
$3,000
Paid to Mentor for
Bonus
$2,250-$2,500
Dues: $50.00
Minus Expenses
Where does the money go?
Unrestricted
contributions
over $100
Distributed by
board vote
Unrestricted
contributions under
$100
Unrestricted contribution
is a donation that is not
earmarked or restricted
Pays Expenses
Restricted
Contributions
3rd party makes a donation
to pay for a student's
membership fee
Ending Balance

Money we have in
the bank at the end
of the month

Association
Dues

Total Cash
Assets
Balance to Association
Management Company
for managing recruiting program
Balance to Association
Management Company
Restricted
Contributions
fundraiser
To the recipient of
fundraiser
Balance to Association
Management Company
for managing recruiting program
Paid to Mentor for
Bonus
$2,250-$2,500
Q: How do we know that the Association Management Company is not misusing AWBA
funds?

A: There are checks and balances in place to protect both the Association and the AMC. First
being how the money is received. Dues, Membership fees and contributions all come two ways:
1) by check and 2) by Paypal (the service used to process debit and credit cards) no one pays
by cash.
1) Checks are to be made out to AWBA, although some are still coming to MnemeCorp. Both of
these accounts are business accounts, which means that checks have to be deposited and
there are no cash back options when depositing. It's how the government tracks for tax
purposes. That means there is a record of the check and it's amount.
2) Dues, Membership fees and contributions can also be paid via credit or debit card, which l
comes automatically to the AWBA Paypal account and there is record kept by Paypal of the
transaction. MnemeCorp also has a Paypal account, but all the links have been directed to
AWBA.

Secondly, the treasurer of the Board of Directors has a link to the bank, both PayPal accounts
and all the Google doc spreadsheets that list the revenue and expenses online, so they can be
checked at any time, making sure all money is accounted for.