Memorandum to Accompany Statement of Receipts and Disbursements - "Fifty Thousand Dollar" Fund, 1924

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MEMORANDUM TO ACCOMPANY STATEMENT OF RECEIPTS AND DISBURSEMENTS -- "FIFTY THOUSAND DOLLAR" FUND.

Some confusion seems to exist regarding the time of $1,194.64, the amount expended from the "Fifty Thousand Dollar" Fund for expenses of the National Office. (See last item under Analysis of "Disbursements" on the accompanying statement).

During the period of Congress preparation (in fact, from January 1 to June 12), every item of expense not directly incurred by reason of the Congress, as, for example, salary of Miss Woods and the regular staff of the National Office as organized prior to acceptance of the invitation to hold the Congress in U.S., office rent of rooms occupied prior to necessary enlargement of quarters because of ↑temporarily↓ increased space, any printing done which would have been done had there been no Congress, is accounted for entirely separately from the expense of the Congress.

To meet the expense of the National office during this period, there came certain receipts, entirely apart from the contributions to the "Fifty Thousand Dollar" Fund, as for instance,

National Membership Dues January to June      $1984.50

Contributions designated specifically to apply to "National Work"    469.66↑*↓

Returns on seals and blotters sent out in December      893.81

The expense of the National Office during the period (that is, salaries of regular staff, rent of two rooms, printing other than Congress literature or stationery, etc.) being greater than the receipts, and all the effort of Board, Branches and National Office sta regular staff going into the work of Congress preparation and procuring subscriptions to the "Fifty Thousand Dollar" Fund, the National Office expense was met, in part, from the $50,000 fund (transfer being made from that fund to the regular National Office fund.

According to the understanding of the Board (see extract from minutes of Board meeting in Chicago November 4-5-6, attached) two fifths of the "Fifty Thousand Dollar" fund was to be allocated to the National Office -- budget for the year November 1923 November 1924. Two-fifths of the amount actually raised is $6,157.35, or $4,962.71 more than has been used from that fund for purely National Office requirements. In addition, ↑practically↓ the entire time of the regular staff, and the entire office space was given for the period to Congress preparation, which amounts in figures to $2,945.68. It is clear, therefore, that the National Office ↑instead of having↓ received nothing from the "Congress Fund," but gave generously of its own to the Congress expense.

↓*This sum is largely pledges made in Chicago to meet the deficit which↓ [text cut off]