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Spending the Cusack fund

May 9, 2011

by Neil Clarkson

» More on Cusack

Cusack's rescue fund has exceeded all expectations, and that is thanks to the generosity of many people around the world.

Cusack pictured yesterday at the Back Forte boarding stable in Washington.

Both Horsetalk and Cusack's new owner, Deb Johnson, recognise how vital it is that every cent be accounted for as Cusack makes his way to Kansas for a new life.

What we intend to do is keep a running account of all spending in this story. It will be updated regularly. Those interested can check back here at any time for the latest developments and outgoings.

Money to help Cusack has been paid either into a Paypal account or, for those who preferred, directly into Horsetalk's bank account.

The webmaster has kept a running tally on an Excel spreadsheet, and it stands at around $NZ3300, but the figures will need to be double-checked before we can give the definitive tally. Even this figure may change a little, as we understand there may be some cheques in the post and some e-checks on Paypal are showing in the tally, but the transaction fee does not come off until it clears.

There will be a few twists and turns as we're going to be paying bills in US dollars, not NZ dollars, so we need to work out the most efficient way of getting this done.

Also, as the campaign got under way and before the first cent had been donated, Horsetalk promised Deb that the website would underwrite the cost of buying Cusack and getting him to Kansas.

Deb took us at our word, and used her credit card to pay the $US500 purchase price and $US20 board. In our own act of good faith, we reimbursed her straight away.

We sincerely hope we can lay it all out in an easy-to-understand format!

Once again, thank you for your support of Cusack.

Please check back regularly.

May 15, 2011

We've been quiet a few days, waiting for a couple of E-checks to clear and while some final donations came in, so we could give a final tally.

We have also been lining up our skittles in a bid to minimise the fees payable on the money, as we would all rather spend it on Cusack than on transaction fees.

Here's how we are looking:

A total of $NZ570 was paid directly into Horsetalk's account by donors. On top of this, we also received a $NZ100 cash donation, which takes the tally here to $670.

Early on, Horsetalk forwarded $US600 via Paypal to Deb to reimburse her for the $US500 she paid for Cusack, plus $US20 in board following his purchase before he could be taken to the Back Forte Equestrian centre.

This $US600 came out on Paypal this end as $NZ777.08. The $NZ670.00 has been applied to this debt. The $NZ107.08 difference will be one of Horsetalk's donations to the Cusack fund, which nicely squares things away on New Zealand shores!

It transpires the $US600 sent to Deb showed up her end as $US576. You've gotta love fees! She will account for where the $US56 surplus here is spent as the bills start to get paid.

This leaves the Paypal money! Naturally, we're very keen to minimise fees and can do this by getting the money straight into a US bank account and into US dollars, which means the math from then on is more straightforward as everything can be done in one currency and without the tyranny of any more fees.

Here's how it shaped up. The gross amount paid by donors into Paypal amounted to $NZ2855. The transaction fees charged by Paypal amounted to $NZ124.52, leaving the total amount available to be sent to Deb at $NZ2730.48.

We ran a test with a small amount of cash being paid into a US account accessible by Deb. It worked fine, so today we have transferred $NZ2730.48 into this account.

According to Paypal, this will show up in a few days as $US2095.25 to meet Cusack's expenses, which include the fund's share of his board, transport to Kansas, vet check and other ancillaries which are no doubt on the horizon.

FOR THE RECORD: Including the top up on this side of $NZ107.08, the total raised in NZ dollars amounted to $3632.08.

The amount heading for the US bank to meet his expenses is $US2095.25, which should show in a few days.

Deb will be providing us with regular updates as the money is applied to Cusack's bills.

If any other donations arrive, we'll update this page accordingly.



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