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    INCOME AND EXPENSES

    {Follows is the last report given by former Executive Director John Gilbert to the Board of Directors for the Tarot Certification Board on April 23, 2002 prior to his subsequent resignation.}

    The Tarot Certification Board was incorporated on November 8, 1999 as a Colorado nonprofit corporation. Prior to that time we operated as a separate entity under the management of the American Tarot Association. Here's a summary of our financial situation:

    Beginning balance $ 459 transferred from ATA to TCB on November 1, 1999.

    Beginning balance for 1999 was $ 459
    Total income for 1999 was $ 420
    Total expenses for 1999 were $ 494
    Leaving a balance of $ 385

    Beginning balance for 2000 was $ 385
    Total income for 2000 was $ 3,606
    Total expenses for 2000 were $ 3, 488
    Leaving a balance of $ 503

    Beginning balance for 2001 was $ 503
    Total income for 2001 was $ 6,192
    Total expenses for 2001 were $ 6,122
    Leaving a balance of $ 573

    We actually ended 2001 with a balance of $188.63 in the checking account. The $384.37 discrepancy represents money in our Pay Pal account which I have since transferred to our checking account.

    During 1999 we paid Executive Director fees to Wald Amberstone. During 2000 and 2002 we paid web master fees to Ruth Ann Brauser. Executive Director fees have been accumulating since I took over and now represent an account payable in the amount of $ 1,928 which can be paid out over time as we can afford to pay it. With the present rate of growth we're experiencing we could pay this off within three to four months. I also have the option of donating any portion of this to the TCB.

    The promotions we did during 2001 are starting to pay off. But we won't do that again. It's too much work labeling, stamping, stuffing and mailing 250 prospect letters every week. It's also expensive printing promotional materials and brochures. The Internet offers us a chance to do the same types of promotional activities for a fraction of the cost. Besides, by the end of the year the mailing list had aged enough a lot of letters were returned to us as "Addressee Unknown." On the Internet, it doesn't cost us any money to send out something that gets returned.

    My efforts during 2002 will be to continue to develop a good prospect list and institute a good promotional program on the Internet.

    Namaste,
    John