It is the firm policy of the World Championship Coyote Calling Contest to be as thrifty in our expenses as possible. 100% of the operational expenses are accounted for and filed with our annual required IRS taxes. Those tax reports are of a personal nature and generally not available to the public but a summary can be supplied upon approved request with solid justified reason for the request by members or sponsors.
It is our firm policy to use all sponsor monies first for operational expenses before using any membership fee monies. Every effort is made to get as much sponsorship money as possible so that membership fees remain available for prizes. No event money, fees, donations, auction monies, or membership fees are used to pay any salaries to staff for any reason unless so noted. None have been paid as of this report.
!00% of any remaining funds from the annual event is carried over to the next event. No funds are removed, transferred, or taken for any other use except for use in supporting the World Championships documented expenses and to support membership and its events and activities. All is well documented at all times.
Since 90% to 95% of our membership fees and income are by check or credit card all income is easily accounted for and is reported on official IRS required reporting tax forms annually.
According to the practices of other similar events this is considered 100% payout for prizes at our events. We are very happy to answer reasonable questions to members and sponsors about any of our operations and business practices. Just contact us as we have nothing to hide.
The World Championship Coyote Calling Contest taxes, use details, and required fees accounting-
If any current member or sponsor wants further explanations about any of these expenses we will be very happy to discuss their question. Just contact us at any time. We remain totally accountable for all of the monies collected and spent in this great event. All income and expenses are reported on our Federal and State Income Taxes as required by law by a Certified Public Accountant.
- Federal Tax I.D. number- 47-2447760
- Arizona Sales Tax– Reported and paid through Arizona Ammunition, LLC. to the State of Arizona. We pay any local or state required sales taxes and fees as required per location.
- Firearms Transfers– Performed through Arizona Ammunition, LLC. using their Federal Firearms license and a local approved and licensed Federal Firearms dealer. Arizona Ammunition, LLC. does not charge a fee for this service. The local dealer maybe paid a transfer fee depending on their requirements. Sponsorship monies are used first.
- Insurance- Arizona Ammunition, LLC. pays the required events insurance for each event and does not require any payment for this service except the $25.00 for the certificate for each event. All public facilities rented now require insurance for the use. Since 2015 the event has not received a donated facility. Generally these facilities require that all food vendors are licensed and approved by the local Health Departments and vendors are registered with the local City/County Commerce Department for local sales taxes collection and payment.
- Legal services- All legal fees directly related to the World Championships is charged to, accounted for, and paid by the World Championships. Sponsorship monies are used.
- Accounting fees- All accounting fees for the World Championships is paid for by Jim and Nancy Schmidt at the present time.
- Printing and copy fees– All fees for printing and copying is paid for by the World Championships. Presently we have two sponsors for the printing and copying and they only charge for the toner used and shipping costs. Sponsorship monies are used.
- Travel and Lodging- For working staff only- Exact costs of all directly related travel, food, and lodging (when necessary) is paid for by the World Championships. All these expenses are well documented with required receipts for everything. No exceptions. All is reported on our taxes. Sponsorship monies are used first.
- Facilities deposit and rental fees– Sponsorship monies are used first. All deposits are returned to the World Championship savings account and used to pay all required future deposits and expenses.
- Auction proceeds- 100% of these funds are used to support the current and preceding years event operations. These funds are used to pay remaining accounts payable payment, refunds, etc. after the close of each event. Remaining funds are generally carried over from one year to the next and held in our World Championship savings account. These held funds are reported in our IRS tax reports.
- Banquet fees– If there is a sponsor then the fees are paid by that sponsor. If there is not a sponsor then fees are taken from other sponsorship funds first.
- Polygraph Services– This performed by a professional service. Sponsorship monies are used first.
- Vet-Techs– If Vet-Techs or other professionals are used for temperature testing their service fee is paid using sponsorship funds first.
- Signs/banners/ other support material– Paid for by sponsorship monies first. Reused each year where possible.
- Equipment storage fees- The event has a great deal of equipment, supplies, reusable material, sponsor prizes, sponsor brochures, sponsor banners, and other material and it must be stored when not in use. Presently all this material is stored in a storage unit owned individually by Jim and Nancy Schmidt at no charge.
- Auctioneer Fees (if any) The event gives an Auctioneer a $100.00 service fee for a $100.00 discount off their entry fee for handling ALL auctions during the event.
- Credit Cards fees- Currently paid for by Arizona Ammunition, LLC. and not charged back to the World Championships.
- Security- Each World Championship event requires professional security onsite. The fees for this professional security and is paid from sponsorship monies first.
- Items sold at event or online- Funds from the sale of items like hats or decals that are sold at the event or online are kept separate to be used to replace those items as the inventory depletes.
No money from this great event are kept personally by any of the staff, organizers, owners, or Arizona Ammunition, LLC.