Knee Knacker 2001 Financials

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As many of you have noticed, there was an increase in the entry fee this year from $85 to $95. Fortunately, most entrants took advantage of the "early-bird entry" fee before the increase took effect on January 9, 2002.

The increased fee was due to an ongoing rise in expenses over the past few years, while revenue remained relatively flat. This resulted in a significant loss in 2001, which threatened the future economic viability of the race. In other words, we could not afford to keep putting on the race much longer without either increasing revenues or decreasing expenses. Thus, the entry fee increase in 2002, along with more judicious spending on our part. Do I sound like a politician, yet? :-)

The graphs below demonstrate the financial situation from the 2001 race. They are shown in dollar amounts per runner on the start line. In 2002 there were 180 runners on the start line, out of 233 who entered the lottery.

Revenue

2001RevPerRunner.gif (5219 bytes)

Notes:

  1. Entry fees were $85 in 2001. Of the 233 runners selected in the lottery, only 180 made it to the start line. Additional revenues were realized as only partial refunds were made to the 53 dropped runners.

  2. The miscellaneous revenue came mostly from bank interest, and sales of souvenirs, raffle tickets, and beverages.

Expenses

2001ExpPerRunner.gif (8904 bytes)
Notes:
  1. All the expenses in the chart are distributed across the 180 runners on the start line.
  2. T-shirt expenses include T-shirts for the 200+ volunteers who help us out before, during and after the race.
  3. Banquet expenses include the cost of feeding one guest per runner, as well as race volunteers.

 

Bottom Line

The total loss per runner in 2001 was $12.31. As I mentioned above, this cannot continue. Entry fees will remain at $95 for the 2003 race, while we try and contain expenses even further. We trust that this disclosure sheds some light on our current financial situation.

If you have any questions, concerns, comments, or suggestions, please contact us at the addresses below.

Paul Quinn & Enzo Federico

2002 Co-Race Directors

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