1. Official name of the club

    Port St. Lucie Stamp Club is located at Port St. Lucie, Florida

2. Board of Directors / Officers

    The Board of Directors (BoD) shall be made up of the five elected officers of the PSLSC. These officers by name along with their responsibilities are:

     President presides over each meeting.

    Vice President presides over meetings when the president is not in attendance.

    Treasurer maintains financial records of income and expenditures. Collects fees and pays obligations.

    Secretary records and maintains a record of all meetings.

    Event Coordinator designs, duplicates, and distributes print material about events. Places notices of these events in print media and online.

These officers are elected by direct vote on an as needed basis. Nominations are called for at a monthly meeting of the PSLSC. The vote is by a show of hands of members that are present.

Officers will meet during the regular monthly PSLSC meetings.

3. Meetings of the PSLSC

    The PSLSC will hold regular meetings on the second Tuesday of each month from 7-9pm at a location to be determined by the BoD. In a national mid term or general election year, the meeting may be held, not held, or rescheduled at the discretion of the BoD based on space availability.

4. Member Dues

    The dues paid by each member shall be fixed at $10 per year payable at the beginning of each calendar year.

5. Other Income

    The PSLSC typically sponsors two events each year where stamps, postcards, and coins are displayed for sale by PSLSC members and invited professional dealers. The fee to have a table at these events is the income stream used to pay for the venue where these events are held, publicity for the event, and promotion of the event.

6. Donations

    From time to time donations of stamp collections are made to the PSLSC by individuals who may or may not be members of the PSLSC. These donations are processed by club members to be identified prior to being put up for auction at a monthly meeting. A portion of the auction proceeds is typically given to a local non-profit.

7. Auction proceeds

    The monthly auction by members of the PSLSC produce income for the PSLSC to pay for the monthly room rent for meetings, and the rental fee for the space used for events. Each member may enter up to 25 lots to be auctioned each month. A 10% fee is collected from each sold auction lot to be used by the club for financial obligations. There is no fee for members to enter lots for sale in the auction, and there is no fee collected on unsold lots in the auction.

8. Employees

    The PSLSC has no paid employees. Volunteer members of the club support the PSLSC as needed.

9. Expenses

    The monthly meeting room and event space fee and publicity are the sole expenses of the PSLSC. The BoD may approve additional expenditures which are appropriate for the furtherance of the interest of the PSLSC.

10. Speakers

    At monthly meetings, members and volunteer speakers may make presentations. No fees are paid to speakers.

11. Donations by PSLSC

    The PSLSC may make donations to non-profit organizations as stipulated by the BoD. Club members are consulted during a regular meeting before these donations are made. The most recent recipient of a PSLSC donation is the local no kill animal shelter known as "Dogs and Cats Forever". The amount  and recipient of the donation is determined by the PSLSC BoD.

12. Purpose of PSLSC

    The purpose of the PSLSC is to bring together collectors of stamps and other philatelic items. Members buy, sell, donate, and trade these items. The further purpose of the PSLSC is to promote the hobby for the enjoyment of all concerned.

13. Duration

    The PSLSC shall remain in existence so long as there are members. When the membership decreases, this non profit entity may be terminated by the remaining BoD officers.

14. Business Plan

    Income will be the $10 membership fee, 10% of all auction sales, event table rental fees, and donations as made.

    Expenditures include monthly meeting room fee, event space fee, advertisement of events, postage and supplies for the promotion of events, event liability insurance, and other payments as stipulated by the BoD.

    The intent of this business plan is to balance income and expenses. This club will incur no debit beyond available assets and not carry a bank balance above reasonable future financial obligations. When the bank balance exceeds anticipated future needs, a donation shall be made based on the recommendation of the BoD and/or suggestions made by the membership.

15. Consignment Terms

At the discretion of the BoD, the PSLSC may accept a stamp collection from the public on a consignment basis to be evaluated by members for eventual sale at the club auction.

The proceeds of the auction amount realized shall be distributed as follows:

The first 10% will be withheld from the amount realized as a commission by the PSLSC.

The remaining sale price realized will be given half to the PSLSC and the other half to the consignor. The consigner may designate a charitable organization to receive their portion. Or the entire amount realized may be designated as proceeds to the club by the donor.