President's Report
C. I. Sersanous
It is a pleasure to report to the membership continued gains in the financial condition of the American Rhododendron Society through your Board of Directors and for the fiscal year, ending April 30, 1955.
In the following pages you will find a financial report from our Auditors with various exhibits as to a comparative balance sheet, a statement of cash receipts and disbursements for the Test Garden Fund, a similar statement for the Exhibition and Cool House Fund, and an analysis of the surplus account, all for the fiscal year April 30, 1954 to April 30, 1955.
Considerable increase will be noted in the assets of the Society, a gain of $2524.62 from $9,706.33 in 1954 to $12,230.95, reflected in a gain of membership and a gain of $1851.50 from funds in the National Society Test Garden Fund. The surplus therefore has increased $2524.62 from April 30, 1954 to April 30, 1955.
The Exhibition and Cool House fund has been increased from a balance of $2323.75 to $3680.26, some $1356.51 having been added by shows put on by the Portland Chapter of the A.R.S. - the shows having been held after the close of our fiscal year April 30, 1955 and therefore not shown in our audit.
During the year and effective July 1, 1955 a Portland Chapter was organized, and will function on the same basis as other chapters so organized under the laws of the National Society. New chapters formed this year include the Vancouver, British Columbia Chapter, Grays Harbor Chapter, Hoquiam, Washington, and the Portland Chapter, Portland, Oregon, making a total of eight forming the National Organization. Other new chapters are in the making.
The National membership now exceeds over eleven hundred.
The above constitutes a brief report covering the financial condition, additional new chapters and a statement of paid membership, all of which seemingly indicates modest progress on the part of the American Rhododendron Society for the fiscal year ending April 30, 1955.