January 2014 Minutes

HULA Board Meeting

7 January 2014

Pete and Kate’s House

 

Dave Strang

Secretary

 

 

Meeting called to order at 7:10 pm

 

Directors Present

Directors Absent

Members Present

Jack Wade

Stephen Parrish

Sat Ishii

Nick DeBoer

Stacey Fineran (resigned)

Moko Ishii

Dave Strang

 

Clay McKell

Ari Patz

 

 

Kate Burgess

 

 

Pete Issacson

 

 

Mondo Chun

 

 

Erin Armstrong

 

 

Sam Suen

 

 

 

 

 

 

 

 

Minutes:

 

Regular Business

 

Approval of Minutes:

Minutes of previous meeting approved unanimously

 

Next Meeting date:

March 11th, 7pm, Tuesday

Pete and Kate’s house.  Ari on food

Calendar review:

  • Aloha Cup was Dec. 14-15
  • Wahine weekend – January 11-12th
  • Leeward community college health and wellness fair – January 28th
  • Yocket Aloha weekend? Still TBD
  • Kaimana February 14-17th
  • Spring league dates – early March to end of May (or so)
  • Next Aloha Cup – January 17-18th, 2015

 

Treasurer’s report

  • Current balance in HULA account $23,303.93
  • $10,300 budgeted for variable expenses, $2,694.66 spent so far
  • $3,780 budgeted for guaranteed expenses, $1,566 spent so far
  • Mailbox fee increase $6
  • $15,830.75 in CD’s, $9,814.62 rolled over into HULA checking account (not included in above balance)

 

Field report

  • Sam got Makiki permit Saturdays 9am-3pm until the end of March.
  • Sunday permits end in February.  Sam will renew
  • No new progress on lighted fields
  • Kaimana practices will have to take place at Maikiki

 

League liaison report

  • Jack reports that Cale and Parrish are penciled in as league commissioners
  • Sam says that fields have been reserved at Kapiolani park – rugby and a soccer field in March, two soccer fields in april and may
  • Jack will remind commissioners of the existence of the commissioners handbook

 

Small events report  

  • Wahine Weekend – January 11-12th
  • First day at Maikik park, second day on Waimanalo beach
  • Hoping for 25 players, at least 5 new
  • Organizers Moko and Masumi want to be able to give all new players a disc
  • MOTION: In addition to the budgeted funds for wahine weekend, give Moko an addition 5-10 discs for new players.  Motion approved
  • Yocket Aloha
  • The Yocket Aloha beach day will be a tournament organized using funds from club junior for the Aloha Cup
  • Kate will talk to Stacey about status of organization
  • Small event coordinating handbook
  • Kate still working on

 

Hopu Ka Lewa recap – Ari

  • Hopu appears to have made money, but books still need to be finalized
  • The Penske truck was damaged and payment for damage still to be resolved
  • Final wrap up meeting still to be held
  • High turnover in committee expected
  • Full recap after the wrap up meeting

 

Kaimana update – Jack Wade and Nick DeBoer

  • Planning on track
  • 18 open teams, 12 women’s teams
  • About 400 people have registered so far

 

Website review

  • HULA currently pays for 3 domains – hawaiiultimate.com, kaimanaklassik.com, hopukalewa.com
  • These cost $100 per year for unlimited hosting space and one domain name, and $10 per year for each additional domain name.
  • Google apps (including Drive) has been installed on those domains and along with 10 free hawaiiultimate.com accounts
  • Google Drive has folders for HULA materials for things such as perennial information (league handbook, etc.), minutes, and a publish to the website folder
  • Clay will authorize individual board member emails to allow access to Drive
  • Clay has also been working on an integrated payment system for league and tournaments

 

Non profit and accounting status + action items

  • In the eyes of the IRS, HULA has been for-profit since 2010
  • Pete provided notes from his and Sam’s meeting with Terry Tamura (attached at the end of the minutes)
  • Overall, the situation is not as dire as once feared
  • The estimated cost for Terry Tamura helping us get the paperwork in order to renew non-profit status varies from $1400-$4200 depending on how much work we do (see Pete’s note #4)
  • Document status
  • Mondo found our GET letter (attached at the end of the minutes and can be found in the HULA BOD folder on Google drive)
  • May have previous 990’s with response letters from IRS (Mondo will confirm)
  • Jack and Ari will go through Kaimana and Hopu books to determine which vendors would need 1099/W-9 forms (= individuals paid > $600)
  • Pete will send out accounting template for future bookkeeping.  Its is important that all HULA accounts use a common terminology for expenditures (e.g. – food, entertainment, etc.) and miscellaneous is not acceptable.
  • Mondo, Jack, and Ari will begin organizing the HULA, Kaimana, and Hopu accounts respectively.  They will ask for assistance once they get a handle on the amount of work required
  • Question – Is our fiscal year the same as our tax year?

 

 

 

New business

 

Aloha Cup recap – Sat Ishii reporting

  • 55 players from Hawaii, 15 players from japan participated
  • Club junior sending $6 per person to HULA – contractual payment for HULA services (equipment, fields, etc.)
  • Next aloha cup
  • Club junior wants to hold it January 17-18th 2015
  • HULA is fine with moving dates

 

Equipment insurance

  • Pete looked into the option of adding equipment coverage to our insurance policy.  It is minimum $300 per year depending on the value of our equipment
  • The board had several questions:
  • Does it cover rental items?
  • Is $300 enough to cover the value of HULA’s equipment?
  • How much does $300 cover?
  • How much is the deductible?
  • How much loss/damage do we incur in a year?
  • The board wanted more information before making a decision on adding equipment coverage
  • Pete and/or Mondo will look into answers

 

Leeward Community College Health and Wellness Fair

  • Sat has reserved a booth for HULA on Wednesday, January 28th, 9am-1pm
  • Sat would like some help and resources (such as discs, business cards, etc.) to help promote ultimate at the fair
  • MOTION: Give Sat 30 discs for sale and/or donation and authorize up to $50 for printing fees for promotional materials.  Motion approved

 

Aloha Grants

  • An Aloha Grant was awarded to Jena Kline for up to $500 to run a High School/Middle School ultimate tournament.

 

HULAships for Kaimana

  • HULAships were granted to six applicants.  The remainder of the $1400 budgeted for HULAships will be given to the Kaimana TD’s to use at their discretion for Kaimana-ships
  • Mondo will notify recipients and deduct HULA membership dues from non-member applicants

 

Status of filling board of directors vacancies

  • Nick DeBoer was approved via electronic vote to serve out the remainder of Laura Stevens term
  • Stacey Fineran announced that she would be resigning from the board
  • The board decided to leave her seat unfilled until the next election
  • Jack will be sole league liaison

 

Discussion of using HULA funds for alcohol purchases

  • No league fees shall be used for alcohol purchase in public locations
  • HULA continues to encourage safe drinking habits

 

HULA policy book

  • Pete suggested the creation of a document that will be a record of the various policies, formal and informal, that HULA enacts
  • He will begin compiling this

 

Meeting Adjourned 9:35pm

Meeting with Terry Tamura, CPA. 12/18/13

Present at meeting for HULA: Peter Isaacson, Sam Suen

 

4 Questions from HULA BOD:

1. Impact of no W-9/1099 forms? Legal to pay penalties for others?

2. Accounting accuracy i.e. what if accounts can’t be reconciled?

3. Implications of missing receipts, can we do “lost receipt” forms?

4. Cost estimate for doing more of the accounting “legwork”.

 

1. (Impact of no W-9/1099 forms? Legal to pay penalties for others?)

·      The penalty for not doing the 1099/W9 process is on the issuer (i.e. HULA or Hopu/Kaimana).  However, the payee should still have been reporting the income, even if they didn’t receive 1099’s.

·      $600 is the threshold where the forms are required.

·      For years where it wasn’t done but should have been, the effect is that we just can’t claim a deduction for these payments. I.e. if it’s not reported, we just can’t claim the deduction, but that’s about the extent of the penalty.

·      We SHOULD do 1099’s for calendar year 13! 1099’s are due to the recipient by Jan. 31 of following year (i.e. Jan. 2014), to IRS/state by end of February. We need W-9 for these people – should do a quick run-through of the records to identify these people and get W-9 forms together.

2. (Accounting accuracy i.e. what if accounts can’t be reconciled?)

·      For things that don’t “balance out”, it can be treated as “non-deductible” (and taxes would have to be paid on it), but there’s not really a “penalty” for this.

·      Need to reconciled checks written/cashed and items on bank statements, and if this doesn’t reconcile, the difference counts as this “non-deductible” amount.

·      If going from bank statements, need to categorize each item.

3. (Implications of missing receipts, can we do “lost receipt” forms?)

·      Can’t do “lost receipts” form for missing items (consider what an auditor would do – need to have information on what each item was for, otherwise see above, #2).

4. (Cost estimate for doing more of the accounting “legwork”.)

·      Not sensible to have Tamura’s company do everything. HULA/BOD still needs to do some legwork to categorize the items.

·      At the very least, need to go through registers/bank statements and categorize everything. Otherwise, LOTS of hours for them to go through and categorize things for us, with lots of back and forth for discussion. Could cost tens of K.

·      Cost estimates:

·      If we make an excel spreadsheet(s) to summarize transactions for all accounts, accounting services to close year end and prepare income tax returns: $1,400 – $1,800.

·      If we just categorize things, and Tamura and co. enter individual transactions into their system, and also do year end and income tax returns: $3,000 – $4,200.

·      Perhaps a middle option, where we prepare excel spreadsheets “with some holes” i.e. everything doesn’t totally reconcile, but they don’t necessarily have to post every individual transaction. We will find out.