As treasurer of AMHA, I would like to personally thank all of the members and staff who are working hard to help AMHA succeed financially. Your efforts are much appreciated and needed at this time. Laura is doing an amazing job getting class sponsors for the World Show. If you have not sent in your sponsorship, please do so. If you have not placed an ad in our e-magazine, please do so. We also have corporate sponsor packages available and advertising information for our World Show program will be coming out soon.
We have finalized the 1st quarter of 2019 financial statements. Our organization generates most of its revenue in the 2nd & 3rd quarters and the 1st and 4th quarters suffer. However, we did generate more revenue in the 1st quarter than we expected but we did have some expenses over and above the budgeted amounts. We are working hard everyday to get back on track and hopefully by year end, we will end up very close to our budgeted amounts.
We would like to welcome Becky Myers to the AMHA team. Becky comes to us as an experienced bookkeeper and has been doing a great job working through the accounting over the last month. Over the next quarter, we will be working together through the list of accounts receivable and verifying the balances and will be attempting to collect any outstanding balances from our members. If you receive an emailed bill from AMHA, your prompt payment is appreciated.
As many of you know, our current computer system is antiquated and very challenging for the staff to process paperwork efficiently. We are currently evaluating our computer system and hope to, at the very least, get a few new computers for the staff so they are not always working on the 10+ year old computers that are old and tired. However, our current software does not allow us to upgrade all of our computers due to compatibility issues. We are also looking into a new ecommerce system that will allow for processing memberships and other simple items via the website. Our goal is to have the ecommerce system set up so the staff does not have to use much of their valuable time to process those transactions. Automation is the key to a successful ecommerce system for us and that is what we are striving for.
After looking at last year’s expenses we determined that we spent almost $25,000 in credit card processing fees. Unfortunately, AMHA is not in a position to continue to carry those costs. Therefore, we will begin to charge 3.5% for each domestic credit card payment that we process beginning May 1st. We apologize for this inconvenience but the BOD feel that it is necessary at this time. If you do not wish to pay the credit card fee, we do have a new payment option for our members. We are able to process ACH payments directly from your bank account. If you would like to keep your banking information on file with AMHA, please complete the ACH authorization form on the website and return it to firstname.lastname@example.org.
We have changed our credit card processing company in an attempt to lower our processing rates. We hope to have reduced rates in the near future and will be able to pass those reductions on to the members at that time. The new processing system requires the CVV number for each credit card which was not required on the old system. The good news is, we can now store the credit card information directly in the processing software which will make the process much more efficient for the office. Thank you for your patience as we transition everyone over to our new software.
We have made and will continue to make a lot of positive changes for AMHA. We appreciate the support of all of our members. This is your organization and we know that it is very important to many to see it succeed.