PROUD ULTIMATE 2021 FINANCIALS

Fiscal year: January 01, 2021 - December 31, 2021*

FINANCIALS FAQ

What is the decision-making process for budget and spending?

The Board and other organizers meet regularly to discuss annual plans and budgeting as part of quarterly board meetings and recurring planning meetings. Some items require majority votes while others are more straightforward calculations of costs and the income required to fund programming. The majority of spending, like city fees, insurance, and filing fees/other administrative costs, are not optional. Donations to other organizations are determined by league participants and Proud Ultimate leadership (see below for more info). Surplus typically comes from donations and fundraising events, as these funding sources are less predictable.

How does Proud Ultimate decide which nonprofits should receive donations?

To-date, teams have nominated nonprofits to receive donations each season. The top three teams earn money for their nonprofits ($1000 for first place, $500 for second place, and $250 for third place). There are occasional events with dedicated fundraising efforts (for example, the BGF Holiday Mixer). The recipient of these donations has been historically decided by the event organizers and shared in advance of dedicated donation requests.

The Board may revisit how donations are made in future years, and there are plans to develop a donation framework to help guide decisions about which nonprofits should receive Proud Ultimate donations. 

How does Proud Ultimate set league dues and other pricing?

League Dues are set at the lowest cost possible to cover the costs of running the organization. We are proud to offer all of this programming at a fraction of the cost of other leagues at less than 50% of similar organizations. League dues may increase marginally over time as the league grows and/or operating costs increase to ensure our operating model is sustainable and we can fund all planned programming. Event fees are similarly only meant to cover basic costs and are not intended to make money for Proud Ultimate. Pricing overall is determined in collaboration with The Board, league commissioner(s), and event organizers.

Does Proud Ultimate pay its staff or volunteers?

Proud Ultimate is run completely by volunteers. Captains and organizers, all of whom spend significant time and resources making Proud Ultimate successful and contributing to the community, can receive free or discounted league participation if budget allows, but this is not always guaranteed. As the organization expands, Proud Ultimate may consider paid part-time or full-time staff or offering modest stipends in the future.

What does the organization do with excess funding?

This year’s balance matches almost exactly the variable fundraising from 2021. Excess funds from previous years roll over into the following year. We try to end the year with a balance because we must prepay for many of the H1 expenses for the following year. As the surplus grows, The Board will vote on ways to invest the money in new programming or back into the community.

Who do I contact with additional questions?

Reach out to any organizer or email info@proudultimate.org.

*Tracking for fiscal year 2021 began on August 9, 2021. 

**These donations are earmarked for specific nonprofits.