Bonjour à tous,

We are, by convention, showing the current year's income statement along with the previous year's income statement for comparison. There are a number of factors, however, that make a side-by-side comparison challenging:

  • WICE changed the end of the fiscal year from 31 July to 30 June. So we are really comparing 11 months against 12 months.
  • In anticipation of WICE's dissolution, the previous board discontinued membership renewals in early-2022, and membership did not re-open until the late-summer of 2022. So revenues associated with membership are not comparable.
  • The previous year began with a full slate of instructors and a course schedule that had been established when WICE was fully functioning. The current year began course development and scheduling almost from scratch in the late-summer of 2022. Revenues from programs, therefore, are not comparable, either.
  • In 2022 WICE sponsored its biennial Paris Writers Workshop and Upstairs at Duroc. In 2023 these did not happen.
  • Finally, during the previous year WICE had an office (with associated expenses) and salaried employees. This past year WICE did not have those expenses.

Despite all of those anomalies, we are pleased to report that our 2022 – 2023 year ended on a positive note. We finished with almost € 19,000 more than we started with in August, 2022. This was due to several factors:

  • First, we had an increase in members once membership sign-ups and renewals re-opened.
  • Second, we received a $5,000 donation from the Franco-American Benevolent Society in December.
  • Third, we cut costs significantly by renegotiating several services (e.g., insurance, Wild Apricot).
  • Finally, we are no longer paying for an office and an administrator.

This translated into an average positive free cash flow of approximately € 1 700 a month.

Looking forward, we expect to have about € 6,000 in fixed expenses for the year, or about € 500 in fixed expenses per month. In the absence of an office and salaried employees, and with our reserve funds and positive free cash flow, this should be more than sufficient to cover any and all anticipated costs.

That said, we do expect increased expenses this year for information technology support and consulting services, and for legal/administrative consulting services. The Board of Directors has determined that WICE's technology platforms require a consistent level of expertise that exceeds what we can reasonably expect from a volunteer corps, and that we should use legal assistance to ensure we are following all laws related to data privacy and other issues.

Annie Milgram, Treasurer

Income Statement

2023       2022
Membership13,295.00     Membership9,489.00
Paris Writers Workshop10,875.00  See note 1
Upstairs at Duroc50.00  See note 2
Expenses - AdministrativeExpenses - Administrative
Information Technology3,795.17Information Technology2,919.80
Finance Fees1,052.73Finance Fees1,849.93
Social Events2,398.78Social Events171.42
Office Expenses23,240.28  See note 3
Salaries22,083.32  See note 4
Expenses - Cost of SalesExpenses - Cost of Sales
Net Operating Income18,221.45Net Operating Income-20,175.25
Interest Income526.91Interest Income319.70
Net Income18,748.36Net Income-20,175.25


Cash on hand 01 Aug 202234,658.48
Net Income18,748.36
Cash on hand 30 Jun 202353,406.84


  1. The Paris Writers Workshop is a biennial event. It was held in 2022, and it will not be held again until 2024.
  2. "Upstairs at Duroc," WICE's literary magazine, is a biennial publication. It was published in 2022, and it will not be published again until 2024.
  3. This includes office rent, utilities, insurance, etc.
  4. Salaries for Emmy Slatni and Kim Peyt.