| |
Massachusetts Chess Association
Board of Directors Meeting Minutes
Wednesday, September 14, 2022, 7:30pm
Boylston Chess Club, 40 Norris St., Cambridge, MA and via Zoom
ATTENDEES: Andrew Hoy (President), Robert Messenger (Treasurer and Membership Secretary), Jeffrey Caruso (Clerk), and Directors Dmitry Barash, Igor Klempf, Alonzo Ross, Latanya Sweeney, and Yi Wang.
CALLED TO ORDER at 7:44 p.m.
1. Minutes
MOTION (AH/JC): to approve the minutes of the July 19, 2022 Board meeting. Passed 8-0.
2. Membership Report and Treasurer’s Report
Mr. Messenger presented the membership and treasurer’s reports (appended), including a report on the New England Open.
3. Tournaments
Mr. Messenger discussed upcoming tournaments, including the Greater Boston Open (Oct. 23), Pillsbury Memorial (Nov. 4), and the Massachusetts Senior Open (date TBD).
4. Scholastic tournaments
Mr. Barash discussed upcoming scholastic tournaments, including the Spiegel Cup 1st Qualifier (Sept. 18), the Junior Open (Oct. 9), and the 2nd Qualifier (Nov. 13). Sections for the Junior are TBD but might include Open, U1600, U1200 and U800, with sections being merged if dictated by the numbers of attendees.
5. Education committee
Prof. Sweeney discussed efforts to set up a scholastic chess league. The format is still under discussion, with input needed from parents and coaches.
6. Executive Session
The Board met in Executive Session from 8:17 p.m. to 9:04 p.m.
7. Next meeting
Unanimous consent motion (AH): the next meeting will take place on Wednesday, October 26, 2022, at 7:30pm at the new location of the Boylston Chess Club, 35 Kingston St., Boston, MA. Passed without objection.
ADJOURNED at 9:08 p.m.
Minutes written by Jeffrey Caruso, MACA Clerk
|
Massachusetts Chess Association
|
|
Changes in Membership Totals
|
|
July to September 2022
|
| |
|
|
|
|
|
|
|
| |
|
Total
|
Total
|
|
|
|
Category
|
|
7/19/2022
|
9/14/2022
|
Change
|
| |
|
|
|
|
|
|
|
|
Adult
|
|
233
|
|
227
|
|
-6
|
|
|
Junior
|
|
428
|
|
443
|
|
15
|
|
|
Life
|
|
198
|
|
198
|
|
0
|
|
| |
|
|
|
|
|
|
|
|
Total members
|
859
|
|
868
|
|
9
|
|
| |
|
|
|
|
|
|
|
|
Affiliate
|
|
0
|
|
0
|
|
0
|
|
|
Prison
|
|
406
|
|
406
|
|
0
|
|
| |
|
|
|
|
|
|
|
|
Total non-members
|
406
|
|
406
|
|
0
|
|
| |
|
|
|
|
|
|
|
|
Grand total
|
1265
|
|
1274
|
|
9
|
|
|
Massachusetts Chess Association
|
|
|
Consolidated Income Statement
|
|
|
May to July 2022
|
|
| |
|
|
|
|
|
|
| |
|
|
|
|
This Period
|
This Period
|
| |
|
|
|
|
This Year
|
Last Year
|
|
Revenue:
|
|
|
|
|
|
| |
Memberships
|
|
|
|
$998.00
|
$582.00
|
| |
Net tournament income
|
|
|
$2,258.67
|
($1,385.20)
|
| |
|
Entry fees
|
|
|
$20,510.00
|
$742.05
|
| |
|
Entry fee refunds
|
|
($409.00)
|
$0.00
|
| |
|
Entry fee discounts
|
|
($430.00)
|
$0.00
|
| |
|
Expenses
|
|
|
($17,412.33)
|
($2,127.25)
|
| |
Donations
|
|
|
|
$72.00
|
$100.00
|
| |
Sale of donated books
|
|
|
$150.00
|
$0.00
|
| |
Commissions on USCF dues
|
|
|
$32.25
|
$11.25
|
| |
Interest
|
|
|
|
$168.68
|
$147.27
|
| |
Dividends
|
|
|
|
$205.91
|
$236.06
|
| |
|
|
|
|
|
|
| |
Total revenue
|
|
|
|
$21,297.84
|
$1,818.63
|
| |
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
| |
Tournaments
|
|
|
|
$17,412.33
|
$2,127.25
|
| |
|
TD fees
|
|
|
$365.00
|
$810.00
|
| |
|
Rating fees
|
|
|
$348.75
|
$125.25
|
| |
|
TLA fees
|
|
|
$27.50
|
$0.00
|
| |
|
Rent
|
|
|
$7,304.00
|
$0.00
|
| |
|
TD hotel room
|
|
|
$332.86
|
$0.00
|
| |
|
Publicity
|
|
|
$261.73
|
$0.00
|
| |
|
Cash prizes
|
|
|
$7,095.03
|
$600.00
|
| |
|
Non-cash prizes
|
|
|
$1,522.56
|
$592.00
|
| |
|
USCF dues expense
|
|
$17.00
|
$0.00
|
| |
|
Miscellaneous expenses
|
|
$137.90
|
$0.00
|
| |
Internet expenses
|
|
|
$1,911.34
|
$165.05
|
| |
Prison program expenses
|
|
|
$65.80
|
$0.00
|
| |
Chess league expenses
|
|
|
$108.25
|
$0.00
|
| |
Election expenses
|
|
|
$63.16
|
$46.95
|
| |
Administrative expenses
|
|
|
$237.31
|
$28.03
|
| |
PayPal service fees
|
|
|
$720.51
|
$69.11
|
| |
Insurance expense
|
|
|
$103.17
|
$68.80
|
| |
Legal expenses
|
|
|
$125.09
|
$0.00
|
| |
|
|
|
|
|
|
| |
Total expenses
|
|
|
$20,746.96
|
$2,505.19
|
| |
|
|
|
|
|
|
|
Net income (loss):
|
|
|
$550.88
|
($686.56)
|
|
Massachusetts Chess Association
|
|
General Fund Income Statement
|
|
May - July 2022
|
| |
|
|
|
|
|
| |
|
|
|
This Period
|
This Period
|
| |
|
|
|
|
Last Year
|
|
Revenue:
|
|
|
|
|
|
| |
Memberships
|
|
$984.00
|
$582.00
|
| |
Transfer from Future Year Membership Fund
|
$25.50
|
$16.75
|
| |
Adult tournaments
|
|
$16,856.00
|
$0.00
|
| |
Scholastic tournaments
|
|
$2,815.00
|
$742.05
|
| |
Commissions on USCF dues
|
|
$32.25
|
$11.25
|
| |
Sale of donated books
|
|
$150.00
|
$0.00
|
| |
Interest
|
|
|
$56.36
|
$57.61
|
| |
|
|
|
|
|
| |
Total revenue
|
|
$20,919.11
|
$1,409.66
|
| |
|
|
|
|
|
|
Expenses:
|
|
|
|
|
| |
Adult tournaments
|
|
$13,529.44
|
$699.00
|
| |
Scholastic tournaments
|
|
$3,882.89
|
$1,428.25
|
| |
Chess league expenses
|
|
$108.25
|
$0.00
|
| |
Internet expenses
|
|
$1,911.34
|
$165.05
|
| |
Election expenses
|
|
$63.16
|
$46.95
|
| |
Administrative expenses
|
|
$237.31
|
$28.03
|
| |
PayPal service fees
|
|
$720.51
|
$69.11
|
| |
Legal expenses
|
|
$125.09
|
$0.00
|
| |
Insurance expense
|
|
$103.17
|
$68.80
|
| |
|
|
|
|
|
| |
Total expenses
|
|
$20,681.16
|
$2,505.19
|
| |
|
|
|
|
|
|
Net income (loss):
|
|
|
$237.95
|
($1,095.53)
|
|
Massachusetts Chess Association
|
|
Special Funds Income Statement
|
|
May - July 2022
|
| |
|
|
|
|
|
| |
|
|
|
This Period
|
This Period
|
| |
|
|
|
|
Last Year
|
|
Revenue:
|
|
|
|
|
|
| |
|
|
|
|
|
|
Life Membership Fund
|
|
$67.14
|
$75.73
|
| |
Interest
|
|
|
$67.14
|
$75.73
|
| |
|
|
|
|
|
| |
|
|
|
|
|
|
Future Year Membership Fund
|
|
$14.00
|
$0.00
|
| |
FY24
|
|
|
$14.00
|
$0.00
|
| |
|
|
|
|
|
|
Living Memorial Chess Fund
|
|
$287.54
|
$236.18
|
| |
Donations
|
|
|
$72.00
|
$0.00
|
| |
Interest
|
|
|
$9.63
|
$0.12
|
| |
Dividends
|
|
|
$205.91
|
$236.06
|
| |
|
|
|
|
|
|
Hurvitz Trust
|
|
|
$21.32
|
$13.58
|
| |
Interest
|
|
|
$21.32
|
$13.58
|
| |
|
|
|
|
|
|
Franklin Fund
|
|
|
$13.95
|
$0.12
|
| |
Interest
|
|
|
$13.95
|
$0.12
|
| |
|
|
|
|
|
|
Prison Chess Fund
|
|
|
$0.28
|
$105.87
|
| |
Donations
|
|
|
$0.00
|
$105.76
|
| |
Interest
|
|
|
$0.28
|
$0.11
|
| |
|
|
|
|
|
|
Total revenue
|
|
|
$404.23
|
$431.48
|
|
Massachusetts Chess Association
|
|
Special Funds Income Statement
|
|
May - July 2022
|
| |
|
|
|
|
|
| |
|
|
|
This Period
|
This Period
|
| |
|
|
|
|
Last Year
|
| |
|
|
|
|
|
|
Expenses:
|
|
|
|
|
| |
|
|
|
|
|
|
Future Year Membership Fund
|
|
$25.50
|
$16.75
|
| |
FY22
|
|
|
$0.00
|
$16.75
|
| |
FY23
|
|
|
$25.50
|
$0.00
|
| |
|
|
|
|
|
|
Prison Chess Fund
|
|
|
$65.80
|
$5.76
|
| |
Program expenses
|
|
$65.80
|
$5.76
|
| |
|
|
|
|
|
|
Total expenses
|
|
|
$91.30
|
$22.51
|
| |
|
|
|
|
|
|
Net income (loss)
|
|
|
$312.93
|
$408.97
|
| |
|
|
|
|
|
|
Life Membership Fund
|
|
|
$67.14
|
$75.73
|
|
Future Year Membership Fund
|
|
($11.50)
|
($16.75)
|
|
Living Memorial Chess Fund
|
|
$287.54
|
$236.18
|
|
Hurvitz Trust
|
|
|
$21.32
|
$13.58
|
|
Franklin Fund
|
|
|
$13.95
|
$0.12
|
|
Prison Chess Fund
|
|
|
($65.52)
|
$100.11
|
|
Massachusetts Chess Association
|
|
Statement of Changes in Fund Balances
|
|
May to July 2022
|
| |
|
|
|
|
|
| |
|
Fund balance
|
Plus:
|
Plus:
|
Fund balance
|
| |
|
5/1/2022
|
Net Income
|
Unrealized gain
|
7/31/2022
|
| |
|
|
|
|
|
|
General Fund
|
|
$60,339.62
|
$237.95
|
|
$60,577.57
|
|
Life Membership Fund
|
$12,945.55
|
$67.14
|
|
$13,012.69
|
|
Future Year memberships:
|
|
|
|
|
| |
FY23
|
$102.00
|
($25.50)
|
|
$76.50
|
| |
FY24
|
$12.00
|
$14.00
|
|
$26.00
|
|
Living Memorial Chess Fund
|
$50,575.92
|
$287.54
|
($1,563.85)
|
$49,299.61
|
|
Hurvitz Trust, Principal
|
$6,500.00
|
$0.00
|
|
$6,500.00
|
|
Hurvitz Trust, Interest
|
$500.23
|
$21.32
|
|
$521.55
|
|
Franklin Fund, Principal
|
$5,000.00
|
$0.00
|
|
$5,000.00
|
|
Franklin Fund, Interest
|
$141.00
|
$13.95
|
|
$154.95
|
|
Prison Chess Fund
|
$4,634.11
|
($65.52)
|
|
$4,568.59
|
| |
|
|
|
|
|
|
Total fund balances
|
$140,750.43
|
$550.88
|
($1,563.85)
|
$139,737.46
|
|
Massachusetts Chess Association
|
|
Balance Sheet
|
|
As of July 31st 2022
|
| |
|
|
|
|
|
|
|
ASSETS:
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| |
Cash in savings, Citizens Bank, N.H.
|
|
|
$11,127.19
|
| |
|
General Fund
|
|
$10,517.07
|
|
| |
|
Living Memorial Chess Fund
|
$542.12
|
|
| |
|
Prison Chess Fund
|
|
$68.00
|
|
| |
Cash in checking, Citizens Bank, N.H. (General Fund)
|
$4,299.38
|
| |
Cash in 2nd checking, Citizens Bank, N.H. (Gen Fund)
|
$549.25
|
| |
Cash in money market, Citizens Bank, N.H.
|
|
$19,184.49
|
| |
|
General Fund
|
|
$13,183.69
|
|
| |
|
Living Memorial Chess Fund
|
$1,500.21
|
|
| |
|
Prison Chess Fund
|
|
$4,500.59
|
|
| |
Cash at Citizens Investments (General Fund)
|
|
$11,281.93
|
| |
Cash in Vanguard money market
|
|
|
$21,634.11
|
| |
|
General Fund
|
|
$7,701.71
|
|
| |
|
Future Year Membership Fund
|
$102.50
|
|
| |
|
Living Memorial Chess Fund
|
$3,520.01
|
|
| |
|
Hurvitz Trust
|
|
$5,154.94
|
|
| |
|
Franklin Fund
|
|
$5,154.95
|
|
| |
Long term investments
|
|
|
|
|
| |
|
Living Memorial Chess Fund
|
|
$43,737.27
|
| |
|
|
Cost basis
|
|
$16,861.83
|
|
| |
|
|
Gain to market
|
$26,875.44
|
|
| |
Annuities
|
|
|
|
|
$23,456.05
|
| |
|
General Fund
|
|
$8,576.75
|
|
| |
|
Life Membership Fund
|
|
$13,012.69
|
|
| |
|
Hurvitz Trust
|
|
$1,866.61
|
|
| |
Accounts receivable
|
|
|
|
$839.24
|
| |
Prepaid expenses
|
|
|
|
$3,938.55
|
| |
|
|
|
|
|
|
|
Total assets:
|
|
|
|
|
$140,047.46
|
|
Massachusetts Chess Association
|
|
Balance Sheet
|
|
As of July 31st 2022
|
| |
|
|
|
|
|
|
|
LIABILITIES:
|
|
|
|
|
|
| |
|
|
|
|
|
|
| |
Accounts payable
|
|
|
|
$5.00
|
| |
Unearned revenue
|
|
|
|
$203.00
|
| |
Entry fee credits
|
|
|
|
$102.00
|
| |
|
|
|
|
|
|
| |
Total liabilities
|
|
|
|
$310.00
|
| |
|
|
|
|
|
|
|
FUND BALANCES:
|
|
|
|
|
|
| |
|
|
|
|
|
|
| |
General Fund
|
|
|
|
$60,577.57
|
| |
Life Membership Fund
|
|
|
|
$13,012.69
|
| |
Future Year Membership Fund
|
|
|
|
| |
|
FY23
|
|
|
|
$76.50
|
| |
|
FY24
|
|
|
|
$26.00
|
| |
Living Memorial Chess Fund
|
|
|
$49,299.61
|
| |
Hurvitz Trust, Principal
|
|
|
|
$6,500.00
|
| |
Hurvitz Trust, Interest
|
|
|
|
$521.55
|
| |
Franklin Fund, Principal
|
|
|
|
$5,000.00
|
| |
Franklin Fund, Interest
|
|
|
|
$154.95
|
| |
Prison Chess Fund
|
|
|
|
$4,568.59
|
| |
|
|
|
|
|
|
| |
Total fund balances
|
|
|
|
$139,737.46
|
| |
|
|
|
|
|
|
|
Total liabilities and fund balances
|
|
|
|
$140,047.46
|
|
81st New England Open
|
|
September 3rd to 5th, 2022
|
|
Westford, Massachusetts
|
|
Financial report
|
| |
|
|
|
|
2022
|
2021
|
| |
|
|
|
|
|
|
|
Income:
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| |
Entry fees
|
|
|
|
$14,507.00
|
$13,410.00
|
| |
Entry fee refunds
|
|
|
($244.00)
|
($529.00)
|
| |
Donations
|
|
|
|
$0.00
|
$69.00
|
| |
MACA dues received
|
|
|
$492.00
|
$822.00
|
| |
NHCA dues received
|
|
|
$14.00
|
$0.00
|
| |
USCF dues received
|
|
|
$360.00
|
$344.00
|
| |
|
|
|
|
|
|
| |
Total income
|
|
|
$14,263.00
|
$12,950.00
|
| |
|
|
|
|
|
|
|
Expenses:
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| |
Cash prizes
|
|
|
|
$4,490.00
|
$4,490.04
|
| |
Trophies and medals
|
|
|
$88.88
|
$0.00
|
| |
Site rental
|
|
|
|
$5,337.50
|
$5,293.75
|
| |
TD hotel rooms
|
|
|
$332.86
|
$665.72
|
| |
Publicity
|
|
|
|
$274.85
|
$205.54
|
| |
TLA fee
|
|
|
|
$22.50
|
$15.00
|
| |
Rating fee
|
|
|
|
$277.50
|
$277.25
|
| |
TD fees
|
|
|
|
$600.00
|
$430.00
|
| |
Tournament supplies
|
|
|
$88.21
|
$104.15
|
| |
NHCA dues paid
|
|
|
$14.00
|
$0.00
|
| |
USCF dues paid
|
|
|
$338.75
|
$326.10
|
| |
|
|
|
|
|
|
| |
Total expenses
|
|
|
$11,512.30
|
$11,481.45
|
| |
|
|
|
|
|
|
|
Net income (loss):
|
|
|
|
$2,750.70
|
$1,468.55
|
| |
|
|
|
|
|
|
|
Number of players
|
|
|
|
226
|
205
|
|