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January 30, 2011

TO ALL DIRECTORS AND OFFICERS Enclosed are the 2010 financial statements. The year resulted in a small profit ($1772). Significant variances for 2010 compared to 2009: The 2010 contribution to the Ionia Fence Fund was paid from the future grounds fund, versus general operating account in 2009. Yearbook ads and sales increased in 2010, and net of costs, resulted in a profit of approximately $3500. In 2010, the membership data chairman returned ½ of her compensation to ABC. Magazine printing costs decreased in 2010; fewer pages were printed in the last few months of 2010 as ABC worked to catch up issue dates. No expense was incurred in 2010 for the dog registration program (mailing service sends ABC brochures to owners of newly registered dogs); it's expected that this will resume in 2011. Dues income continues to decline as our membership #'s decline. Interest income has declined as certificates of deposit are renewed at lower interest rates. The BOD voted to allocate the entire $175 entry fee for the nationals to the running of the nationals and this was effective in 2010. In 2009, $25 of the entry fee was transferred to the future grounds fund. Had the BOD not made this decision, the financial results for 2010 would have been a loss. The larger GD profit in 2009 resulted mainly from no wrangler at the 2009 GD nationals. The loss from the running of the all age nationals was less in 2010 than in 2009, due mainly to the reporters for both the open and amateur declining most of their expenses in 2010. The need remains to either increase revenue or reduce expenses. Comments on 5-year trends: Both dues and magazine advertising income have declined significantly; hopefully, revisions to the magazine will help retain new members and boost advertising revenue. The national raffle and auction provided significant revenue for the running of the nationals; this has declined significantly and is a major reason the nationals are showing a loss in the last couple of years. The national specialty show has greatly improved its financial result in the last two years.

Details of the 2010 income and expenses for the all age and gun dog championships as well as the specialty show have been provided to the respective vice-presidents for their review and to assist them in making adjustments where necessary. ADDITIONAL FINANCIAL INFORMATION INCLUDED WITH THIS REPORT Summaries of the regional futurities and championship events Future grounds fund and breed issues fund--2009 and 2010 detail of activity 5-year comparison of income and expense ACTIVITY FOR THE FIRST QUARTER, 2011 There have been no financial transactions of significant impact through the date of this letter. If anyone has any questions or comments, please let me know. Respectfully submitted,

Janet Chase, Treasurer

AMERICAN BRITTANY CLUB INC BALANCE SHEET DECEMBER 31

ASSETS CASH/CERTIFICATES OF DEPOSIT OPERATING FUTURE GROUNDS BREED ISSUES RECEIVABLES INVENTORY-MEDALLIONS PREPAID EXPENSES EQUIPMENT-NET OF DEPRECIATION TOTAL ASSETS

2010

2009

191549 76548 15596 4750 2176 7032 1015 298666

189184 73885 12533 6589 1479 5107 1429 290206

LIABILITIES AND FUND BALANCE ACCOUNTS PAYABLE UNEARNED DUES UNEARNED ADVERTISING FUTURITY NOMINATIONS-2008/10 FUTURITY NOMINATIONS-2009/11 FUTURITY NOMINATIONS-2010/12 TRITRONICS AWARD ALL AGE GROUNDS FUND GUN DOG GROUNDS FUND CORPORATE SPONSOR FUND (in 2009, $10,000 was donated for Brittany space in Bird Dog Museum) TOTAL LIABILITIES FUND BALANCE UNDESIGNATED DESIGNATED-FUTURE GROUNDS DESIGNATED-BREED ISSUES 1657 27379 480 11741 3370 491 8666 2651 46824 6018 23642 480 11900 3121

8140 2176 46820

103259

102297

103263 76548 15596 195407 298666

101491 73885 12533 187909 290206

TOTAL LIABILITIES AND FUND BALANCE

AMERICAN BRITTANY CLUB INC INCOME STATEMENTS YEAR ENDED DECEMBER 31

2010 ACTUAL

2010 ANNUAL BUDGET

2009 ACTUAL

INCOME GENERAL: DUES RECORDING FEES CORP SPONSOR INCOME INTEREST ON CERTIFICATES OF DEPOSIT ABC FUTURITY SHARE YEARBOOKS/PATCHES/DECALS PURINA PARENT CLUB PROGRAM MISCELLANEOUS MAGAZINE: ADVERTISING MISCELLANEOUS TOTAL INCOME EXPENSES GENERAL: EXECUTIVE SECRETARY CLERICAL ASST-MEMBR MEMBERSHIP LIST ASSIST WEBMASTER DOG REGIST PROGRAM INSURANCE POSTAGE PRINTING & SUPPLIES TELEPHONE/INTERNET/FAX JUDGES EDUCATION AKC DELEGATE EXPENSE DATES COORDINATORS DEPRECIATION ANNUAL ELECTION EXPENSE ANNUAL MEETING EXPENSE CONTRIBUTION TO IONIA FENCE YEARBOOKS/ PATCHES/DECALS INCOME TAX ON INTEREST INCOME CREDIT CARD PROCESSING PRIOR YEAR EXPENSES MISCELLANEOUS MAGAZINE: MANAGING EDITOR PUBLISHING EDITOR POSTAGE SUPPLIES TELEPHONE/INTERNET/FAX PRINTING/MAILING MAGAZINE CREDIT CARD PROCESSING DEPRECIATION MISCELLANEOUS TOTAL EXPENSES SUBTOTAL SPECIAL EVENTS-NET BOOK SALES NATIONAL OPEN NATIONAL AMATEUR NATIONAL SHOW OPEN GUN DOG CHAMP AMTR GUN DOG CHAMP EAST FUTURITY CENTRAL FUTURITY WEST FUTURITY TOTAL EXCESS/DEFICIT BOARD DESIGNATED TRANSFER TO FUTURE GROUNDS FUND @$25/DOG (SUSPENDED IN 2010) GUN DOG NATIONALS ALL AGE NATIONALS BOARD DESIGNATED TRANSFER 1/2 OF REC FEES FUTURE GROUNDS BREED ISSUES EXCESS (DEFICIT) 7200 1050 1350 1200 0 2515 1884 2467 2159 56 538 300 182 1559 2204 0 3025 1133 1249 748 3098 5350 11950 10864 561 1272 27115 654 0 245 91928 20029 7200 1050 2700 1200 2000 2500 2000 1500 1500 700 2500 300 120 1750 2200 0 0 750 1000 0 3800 6600 9750 10800 500 1400 35200 800 60 500 100380 11896 7200 1050 2700 1200 1220 2465 2441 1765 1971 457 1078 300 120 1389 2297 5000 3382 1030 878 350 2471 6600 9750 9956 511 1227 31353 681 60 379 101280 17348 38968 30651 7376 4771 1339 6533 3255 921 17890 253 111957 44000 32000 7376 6000 1200 0 3300 1200 17000 200 112276 43216 31275 7376 8551 1028 5186 3401 675 17734 185 118627

10 -2474 -4835 2136 596 909 194 284 249 17098

50 1000 750 0 0 0 0 0 0 13696

60 -3415 -4533 2052 1672 1482 363 -138 59 14950

0 0 -7663 -7663 1772

0 0 -8000 -8000 -2304

-2425 -2775 -7816 -7825 -5891

AMERICAN BRITTANY CLUB INC DEPARTMENT INCOME STATEMENTS YEAR ENDED DECEMBER 31, 2010

NATL OPEN INCOME ENTRY FEES CORP SPONSOR CALCUTTA SHARE TROPHY DONATIONS AUCTION PROCEEDS ABC RAFFLE PROCEEDS MISCELLANEOUS TOTAL INCOME 8400 1000 1122 50 790 308 433 12103

NATL AMTR

NATL SHOW

8225 1000 1307 50 790 308 358 12038

8440 1000 1780 685 308 4971 (50/50 raffle/silent auction/shirt sales/raffle/DVD sales) 17184

EXPENSES JUDGES TROPHIES SWEEPS PURSE GRDS/SHOW SITE SHOW SUPT LICENSES/FEES REPORTER BIRDS HORSES VIDEO/PHOTOGRAPHER CHMN/SECR EXP HOSPITALITY MISCELLANEOUS/SUPPLIES TOTAL EXPENSES 3890 2612 2247 588 393 1975 1746 163 31 932 14577 5210 2711 2321 785 835 1975 1796 163 31 1046 16873 1554 2736 938 3165 3200 663

1346 770 676 15048

NET INCOME

-2474

-4835

2136

AMERICAN BRITTANY CLUB DEPARTMENT INCOME STATEMENTS DECEMBER 31, 2010

EAST FUT

CENT FUT

WEST FUT

OPEN GUN DOG

AMTR GUN DOG

80'S BOOK

INCOME ENTRY FEES CORP SPONSOR CALCUTTA SHARE ABC RAFFLE PROCEEDS AUCTION PROCEEDS (NET OF 25% TO FUT GRDS FD) PISTOL RAFFLE MISCELLANEOUS (MDSE SALES NET OF COSTS) BOOK SALES TOTAL INCOME 2830 500 1870 500 2590 500 9450 1000 690 308 713 645 -66 7000 1000 420 308 713 645 -66 10 3330 2370 3090 12740 10020 10

EXPENSES JUDGES TROPHIES GRDS/SHOW SITE BIRDS HORSE RENTAL LICENSES/FEES REPORTER HOSPITALITY PREMIUMS/CATALOG MISCELLANEOUS MAILING BOOK TOTAL EXPENSE NET INCOME PROFIT SPLIT WITH HOST CLUB NET INCOME TO ABC 169 292 670 675 750 145 200 40 1 418 292 615 200 145 1094 292 475 425 145 75 86 3911 2405 1212 1431 1260 599 450 97 779 1797 2161 1012 1431 960 750 429 77 494 0 2942 388 -194 194 1803 567 -283 284 2592 498 -249 249 12144 596 9111 909 0 10

42 91

AMERICAN BRITTANY CLUB DETAIL OF FUTURE GROUNDS FUND AND BREED ISSUES FUND TO DECEMBER 31, 2010 FUTURE GROUNDS FUND BALANCE FWD 1/1/09 2009 Allocation of 1/2 of increase in rec fees Open Gun Dog Champ @ $25/dog Amtr Gun Dog Champ @ $25/dog Open Champ @ $25/dog Amtr Champ @ $25/dog Grant for Thayer grounds purchase Membership development Badger BC re Pheasant Fest Meet the Breeds expos NAIA Conference expense Contributions AKC Canine Legislative Support Fund NAIA NAIA Trust Bird Dog Fdn UC Regents/Nelson Fund US Sportsmens Alliance Balance 12/31/09 2010 Allocation of 1/2 of increase in rec fees ABC matching funds-Ionia fence project L.McDonald-Meet The Breeds Contributions AKC Canine Legislative Support Fund NAIA NAIA Trust US Sportsmens Alliance Balance 12/31/10 85869 BREED ISSUES FUND 13811

7816 1350 1075 1425 1350 -25000

7816

-260 -334 0 -500 -500 -500 -2000 -2000 -3000 12533

73885

7663 -5000

7663 -100 -500 -500 -500 -3000

76548

15596

Notes: 1) Amounts committed, but not disbursed at 12/31/10 From future grounds fund--matching contribution of $3000 for Ionia fence fund From breed issues fund--Bird Dog Fdn ($2000) and UC Regents/Nelson Fund ($2000) 2) The BOD voted in November, 2010, to suspend transfers of $25 per dog from entry fees at the GD and AA nationals.

AMERICAN BRITTANY CLUB INC FIVE YEAR INCOME SUMMARY 2010 INCOME: DUES CORPORATE SPONSOR INC ADVERTISING RECORDING FEES INTEREST ABC FUTURITY SHARE YEARBOOKS & PATCHES PURINA PARENT CLUB PROGRAM MISCELLANEOUS TOTAL INCOME EXPENSES: EXECUTIVE SECRETARY PUBLISHING EDITOR MANAGING EDITOR CLERICAL ASSISTANCE MEMBR LIST ASSISTANCE WEBMASTER ADVERTISING DOG REGIST PROGRAM MEMBERSHIP DEVELOPMENT INSURANCE POSTAGE PRINTING & SUPPLIES TELEPHONE/INTERNET PRINTING/MAILING MAGAZINE JUDGES EDUCATION PROFESSIONAL SERVICES YEARBOOKS & PATCHES AKC DELEGATE EXPENSE ANNUAL ELECTION EXPENSE ANNUAL MEETING EXPENSE DATES COORDINATORS CONTRIBUTION TO IONIA FENCE INCOME TAX ON INTEREST INCOME CREDIT CARD PROCESSING DEPRECIATION PRIOR YEARS EXPENSES MISCELLANEOUS TOTAL EXPENSES SUBTOTAL SPECIAL EVENTS NET ACTIVITY: BOOK SALES NATIONAL OPEN NATIONAL AMATEUR NATIONAL SHOW OPEN GUN DOG AMTR GUN DOG EAST FUTURITY CENTRAL FUTURITY WEST FUTURITY NET INCOME BEFORE TRANSFERS BOARD DESIGNATED TRANSFER TO FUTURE GRDS FUND @$25/DOG BOARD DESIGNATED TRANSFERS OF 1/2 OF REC FEES INCR EFFECTIVE 7/02 FUTURE GROUNDS BREED ISSUES NET INCOME (LOSS) AFTER TRANSFERS 2009 2008 2007 2006

38968 7376 17890 30651 4771 1339 6533 3255 1174 111957

43216 7376 17734 31275 8551 1028 5186 3401 860 118627

44791 7379 18660 31502 7864 1536 5868 3520 1442 122562

43808 7376 28855 33382 9863 1494 5832 2825 1240 134675

43265 7376 26076 33937 6749 1272 3334 2832 2924 127765

7200 11950 5350 1050 1350 1200

7200 9750 6600 1050 2700 1200 1220

7200 9750 6000 1050 2700 1200 1388 2450 13962 2368 2285 37243 976 3905 611 1480 2147 300 1329 1364 180 531 4012 104431 18131

6000 9750 5400 1050 1800 37 1209 350 2700 6793 2135 2190 49504 453 249 4369 1621 1483 564 300 1000 862 1668 180 -23 6370 108014 26661

6000 9750 5400 1050 1800 750 1702 2778 11006 3678 2043 41055 281 240 6679 4720 1555 * 300 1000 530 1425 180 656 3017 107595 20170

2515 12748 3028 3431 27115 56 3025 538 1559 2204 300 1133 1903 182 748 3343 91928 20029

2465 12397 2952 3198 31353 457 3382 1078 1389 2297 300 5000 1030 1559 180 350 2851 101279 17348

10 -2474 -4835 2136 596 909 194 284 249 17098

60 -3415 -4533 2052 1672 1482 363 -138 59 14950

105 2138 -808 -1749 -84 -1666 649 1139 -131 17724

55 6844 3243 0 1551 179 814 596 240 40183

276 1889 2897 143 1525 -267 288 886 315 28122

**

-5200

-2800

-5054

-4350

-7663 -7663 1772

-7816 -7825 -5891

-7875 -7876 -827

-8345 -8345 18439

-8484 -8484 6804

* combined with supplies and postage ** trasnfers suspended in 2010

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