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Legal & Finances
BBYSL is recognized by the Federal Government, the IRS, and the State of Illinois for meeting the requirements to be a 501-c-3 NonProfit organization. The league maintains one checking account, at a local bank, that requires two signatures to pay expenses. In 2006, BBYSL secured a working Line Of Credit not to exceed $25,000.00 to further the mission and purposes of the league. To this date, because of good financial management, the league has NOT used this Line Of Credit.
The league retains legal and financial advisors. ALAN SMIETANSKI, a local attorney, advises the Board in federal and state laws and form filing requirements. Dale Gerretse, a partner of the local accounting firm of GROSKREUTZ, SCHMIDT, ABRAHAM, ESHLEMAN & GERRETSE, audits league finances and prepares annual tax returns, 1099's, and keeps the board informed of changes is tax filing requirements. Both of these gentlemen were instrumental in helping the Board secure the league's NonProfit Status. To inform our parents, players, sponsors, and community concerning the leagues Income and Expenses we are providing the following links. Income is obtained from Complex Usage(local schools and outside tournaments), Concession Stand Sales, Fund Raising, Public Contributions (Team & Sign Sponsors), Registration and Volunteer Fees. Expenses are tracked in Board Operations (Advertising, Fund Raising, Insurance, Licenses & Fees, Postage, Profession Services, Registration, Utilities, Supplies, and Miscellaneous Expenses.) Complex Operations (Maintain Buildings, Maintain Field Equipment, Maintain Field & Grounds, and Complex Improvements.) Concession Operations (Cost of Goods Sold, Maintenance & Supplies, Concession Manager & Staff Payroll.) Softball Operations (Umpire Payroll, Player & Coaches Uniforms, Trophies & Awards, Softball Equipment, Tournament Fees, Clinics and Camps. Last Year's Income Graph (Sept 2008 - Aug 2009) Last Year's Expenses Graph (Sept 2008 - Aug 2009) Year-To-Date Income Graph (Updated Monthly) Year-To-Date Expenses Graph (Updated Monthly) Year-To-Date PROFIT & LOSS Summary (Updated Monthly) We hope this information helps our parents, players, sponsors, and community understand what it takes to maintain and operate the Bradley Bourbonnais Youth Softball League on an annual and ongoing basis. It takes more than registration fees to operate BBYSL. PLEASE SUPPORT OUR SPONSORS AND CONCESSION STAND. Further questions about financial matters should be directed to the Board of Directors.
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