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April 10, 2002 -
We're thrilled to announce that ICLUBcentral has just expanded its product line and its investing expertise by acquiring investment software firm STB Investor Software, NAIC's official provider of educational software for stock analysis. STB created the popular stock analysis programs NAIC Classic and Stock Analyst PLUS, as well as the Prospector series of stock screening tools.
The acquisition of STB broadens ICLUBcentral's offerings to include investing software for individual investors as well as for clubs. STB's team, notably co-founders Barbara and Corry DalMaso, also strengthens ICLUBcentral's expertise in stock analysis. The union will enable ICLUBcentral to offer more resources to investors, and will help our customers make better investing decisions. STB's software products include the following:
NAIC Classic is the NAIC's official program for learning and using the Stock Selection Guide, a pillar of NAIC’s time-tested system of fundamental analysis. Classic walks beginners through the SSG step-by-step, and features an Experienced mode for more advanced investors.
Once you've mastered the basics, graduate to STB Stock Analyst PLUS, the most powerful and comprehensive tool for performing detailed studies of companies. Approved by the NAIC for performing the SSG.
STB Prospector II is the easiest tool available for screening NAIC datafiles to locate great stocks for potential investment. Just click and go to find that needle in your haystack!
For help with STB products, please contact STB by phone at (604) 502-9907 or by email at support@stbinvestorsoftware.com.
To celebrate ICLUBcentral's purchase of STB Investor Software, we're offering a special limited-time deal on a couple of our new products...
GRADUATE TO SA+ AND SCREEN FOR FREE!!
Step up to Stock Analyst PLUS, the most powerful NAIC tool for performing detailed studies of companies, and we'll throw in our popular Prospector II stock screening software (a $95 value) for free!* Approved by NAIC for performing SSG analysis, Stock Analyst PLUS is the best software for advanced analysis, with unmatched balance sheet capabilities.
Users of NAIC's S&P Compustat datafiles can use Prospector II to easily identify companies with particular characteristics. Free upgrade to OPS-compatible version for registered Prospector II users is coming soon!
To order Stock Analyst PLUS for $99 and receive Prospector II for free, just call NAIC toll-free at 1-877-275-6242, ext 0, or check out http://www.stbinvestorsoftware.com/Products/Saplus/saplus.html.
* Offer valid only on purchases made between April 10, 2002, and May 31, 2002. Customers must register SA+ to receive free Prospector II software. Prospector II manual available only by .pdf download.
Remember to upgrade to NAIC Club Accounting for Windows version 2 before June 30, 2002, when the upgrade discount expires. To purchase, see http://www.store.yahoo.com/betterinvesting/25103.html or call NAIC at 1-877-275-6242, ext 0.
Dear Doug:
I am the treasurer of an investment club that's about 3 months old. We have ten members and ideally would like each member to own 10% of the club. The problem is that some members have paid a $5.00 late fee, which has changed their ownership to slightly more than 10%. The other members don't think it is fair that they now own less than the penalized members. While I realize that our percent ownership will change as we gain and lose members, I can't convince the members that the difference is insignificant. They insist we correct this so all members own an equal 10%. I use NAIC's Club Accounting software to keep our books, and if I enter the late fee as a member "Fee" instead of a member "Payment," it appears to correct the problem. I am not sure if this is the correct way to do this and am afraid it could have bad consequences at tax time. What should I do?
- Guy G.
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Dear Guy:
Your experimentation with NAIC Club Accounting software has yielded the proper results: “late fees” paid by members should indeed be recorded on the books as “fees” and not payments. (Of course, reading the documentation that came along with the software could have provided the same results with little or no tinkering!) The basic rule to remember is that a “payment” purchases units for the contributing member, while a “fee” does not purchase units.
Member late fees are probably the most common type of fees that are levied by clubs, but some clubs collect fees for other investment-related expenses as well. These might include NAIC membership dues, the purchase of club software, postage for club mailings, or subscriptions to magazines or data services. (I should point out, however, that there’s nothing wrong with recording member contributions for these expenses as payments if you wish.)
As for your other club members and their insistence on equal ownership, I’m glad to hear that you’re on the enlightened side of the argument. In fact, I think it’s an unhealthy obsession to worry about maintaining equal ownership in your club. After a few years, a successful club with an equal ownership proviso will find it much harder to recruit new members, and, as you’ve discovered, late payments and fees by members throw a wrench into the equal ownership works.
In your club’s case, you’ll now find that the members who have paid fees will see those sums included in their tax basis in the club. A member who has paid a late fee will have a larger tax basis (will have slightly lower returns) in the club than members who were not assessed a penalty. Even though their percentage ownership in the club may remain the same, the notion of true equality within the club has gone out the window.
- Doug
To ask Doug an investing question yourself, just write to askdoug@iclub.com!
We've been getting loads of inquiries about how to subscribe to NAIC Online Club Accounting. It's easy! Just log in to your NOCA club website after April 15, and you'll be offered a prompt with full details. Links to the subscription page will be available from your club homepage as well.
There are 2 things that every investment club needs:
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a brokerage account.
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club accounting software.
ICLUBcentral brings you thirteen years of experience in building NAIC Club Accounting software. Now, we can help you find the right broker as well. If you open a new club brokerage account at TD Waterhouse, you'll be eligible for a $100 rebate on New User and Upgrade versions of NAIC Club Accounting version 2.
Visit our site for instructions. Then, send us your completed rebate form, and we'll show you the money!
For more information, please visit:
http://www.iclub.com/promotions/tdwaterhouse
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