FEAST $$$ FINANCIALS
How much does it cost to run FEAST every year?
Long story short: SGD$5,000+ a year - and that's just to keep the company legally running.
a) Club Express (CE) charges us SGD $6.75 for each member – that’s about 20% of a Community member’s fee! The CE programme integrates members details with our event registration and provides the website design software.
b) As a registered Company Limited By Guarantee (the legal structure for non-profit organisations in Singapore) FEAST is required to have a Company Secretary (SGD $500/year) to ensure we comply with statutory regulations for businesses (but the ‘secretary’ does no FEAST day-to-day admin work!) We are also required to have an annual audit ($1,400) and file a report for tax computation purposes ($300/year).
c) We have a part-time book-keeper ($1,200/year) to keep fiscal entries and the supporting paperwork in order – as a non-profit, our audit is particularly thorough.
d) Operational expenses include our feast-story.org domain name, website hosting etc.
Then there are the expenses involved with our activities: payments to webinar facilitators, and honorariums for coaches, mentors and panelists plus subscriptions for zoom, canva, jot form etc.
What does FEAST get for free?
What is visible to many are the generous sharing of stories told by our talented members at fund-raising events such as FEAST FEST.
However, behind the scenes are hours and hours of admin work provided by the Directors and now the Fulcrum too – such as planning/promoting/administering events, designing promotional materials, contacting and liaising with facilitators/coaches/mentors, evaluating submissions, editing videos, creating podcasts, website design and maintenance, co-ordinating Special Interest Groups . . .
In 2018 and 2019 we had a surplus thanks to receiving a grant from the Singapore Arts Council (to stage our first Conference) and the success of the Bangalore Conference. However, in FY 2020 (year ending June 2021) we suffered a small loss – not having a conference was a significant hit for us. (Many storytelling organisations tell the same covid story!) Please do not take FEAST’s economic position for granted.
FEAST accepts payments via PAYPAL, CREDIT CARD (processed by STRIPE) and - for residents in Singapore only, by PAY NOW (UEN 201818697Z) More details are in the Membership FAQ answer above.