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Info on FMC

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manholt   

One is Not for profit...the other is!  You can get a year end P/L from FMCA not for profit, by asking for it.  The other?  Good Luck! :rolleyes: I'm no longer a National Director & even as one, I could not get it. :o

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But you can see FMC rollup into FMCA by looking at the proposed budget which shows the past year. The FMC includes conventions, merchandise store, and some other items that FMCA gets for logo use on products. 

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manholt   

Ross.  Have you ever seen a P & L, from FMCA for profit company?  Must be a well guarded secret...I have tried for 6 years and all I can get is the same language that you just used ! 

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I sm not sure why I would need a P&L when the info is in the next proposed budget. As to the guarded secret, the information isn’t published until there has been an audit. 

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manholt   

The answer to the OP is not the proposed budget, I got that at the Governance meeting!  It does not indicate how much $$$ the for profit side of FMCA made or even has!  Only a fool would think that all the people who go to work, every day, is doing it for free!  The annual Budget, reflect what FMCA "not for profit", can spend.

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F457930   

I can not find any info on FMC on line.  Not who owns it, not who works there, not who profits from it, nor how they profit from it. It does seem to be a closely guarded secret.

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This FMC is Family Motor Coaching, Inc. I forgot to add the magazine, Family RVing, to the list of items above that are under the for profit corporation, FMC, which is wholly owned by FMCA. The FMCA Executive Board members are also the Board of Directors of FMC. The separation of the two allows FMCA to enjoy certain tax benefits of the not for profit status. To maintain this status, FMCA must set aside funds for education which was just more than doubled in the budget passed by the Governing Board in their Gillette meeting. After Nov 1st look for some new educational opportunities for our members. I don’t know any specifics, but there are opportunities there to provide education for members. One I would like to see is “Hands on Driving of RVs”

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F457930   

I understand that the executive board for fmca is made up of elected volunteers who serve with no pay.  Is this also the case with the board of directors  of fmc inc.  do the profits that fmc inc makes go into the coffers of fmca.  just trying to understand the connection between the two and why there is an abundance of info on fmca and none on fmc inc.

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6 hours ago, rossboyer said:

I sm not sure why I would need a P&L when the info is in the next proposed budget. As to the guarded secret, the information isn’t published until there has been an audit. 

Ross, since you seem to be the man in the know, who do I contact to receive a copy of the last audited, which I assume would be 2017, income statement? Thanks.

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manholt   

Ross.  You are right about the education part.  I was there with you!  Also, cast my last vote.  "Hands on driving of a RV", in a seminar format would be free, but actual driving would cost money.  We have RV'g 101 and at $250 per person, that's not free education, that's smoke & mirrors!

Jim S.  Audit for FMCA, just call the 800# and ask for it.  Audit for FMC inc?  Good Luck, please let us all know if you get it. :blink::angry:

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kgebhart   

I think Ross did an excellent job of describing the relationship. When the auditors come in, they do audit each company separately. FMCA and FMC file separate tax returns. The auditors do present each company separately, and also consolidated. 

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F457930   

do I have this right?  fmc inc is like a subsidiary of fmca and was formed as a tax strategy.  thanks for the responses.  I hope  I didn't come across badly.  I am just a curious soul with to much time on my hands. 

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manholt   

Since you have all this time on your hands.  I'm a member of the Lone Star Chapter and giving an invitation to come and meet us at the Six State Rally, in Shawnee, OK.  Sept. 19....We also have just a club rally at Buckhorn RV Resort in Kerrville Sept. 27-30!

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F457930   

Thanks Carl.  We will be in Shawnee.  I will make it a point to look ya'll up.

 

Dee

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manholt   

Dee, I'm in charge of golf, & Linda will be doing golf carts & mobile telephones!  We will be parked in Handicap, on pavement, North end of row # 1. Look for a Red Wrangler with Masonic emblems on rear & 35 inch tires! :D We got to be there the 14th!

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