North America Chapter of BIT Sindri Alumni Association presents Neil Pundit, President and Treasurer Association Treasury Report for

Balance  May 13, Nonprofit Business Checking Account opened with PNC Bank, in DE  Signature Authority: Yogendra Chadda, Neil Pundit Transfer from old account with Bank of America$6, MEMBERS contribution for LIFE MEMBER$10, MEMBERS fee and additional contributions$ 1,055 Total$17,714

EXPENDITURES  2013 projected expenses ExpensesAmount Legal & IRS Fees$1,906 Mailing cost$176 Searching$69 Promotional$980 Total$3,131

Budget  Schedule Budget for 2013 = $8,000  Expected 160 Member Fee of $50 each Opening Balance$ 14,583 Receivable 2 LIFE MEMBER Pledges$ 1,200 Current Balance$15, 683

BIGGER FINANCIAL PICTURE  NO ASSETS, NO BUILDING, NO LOANS  ALL SCHOLARSHIPS ARE PERPETUALLY FUNDED  ONLY 25 MEMBERS HAVE PAID vs 160 projected  MUST BUILD RESERVES  ENV ENGRG START WILL NEED CAPITAL  ALL PROJECTS MUST HAVE TARGETED CAMPAIGNS

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