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Difference between revisions of "MoF Report 2008 05 06"

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== Statement of Financial Position ==
== Statement of Financial Position ==
{|
|-
| '''Assets'''
| '''Unrestricted'''
| '''Total'''
|-
| ''CURRENT ASSETS''
|
|
|-
| Cash (Checking)
| $910.26
| $910.26
|-
| Cash (PayPal)
| $18.39
| $18.39
|-
| Cash (Cash Box)
| $0.00
| $0.00
|-
|
|
|
|-
| ''OTHER ASSETS''
|
|
|-
| Security Deposit
| $850.00
| $850.00
|-
! Total Assets
| $1,778.65
| $1,778.65
|-
| '''Liabilities and Net Assets'''
| '''Unrestricted'''
| '''Total'''
|-
| ''CURRENT LIABILITIES''
|
|
|-
| Rent
| $850.00
| $850.00
|-
! Total Liabilities
| $850.00
| $850.00
|-
| ''NET ASSETS''
|
|
|-
! Total Net Assets
| $928.65
| $928.65
|-
|}


== Statement of Activities ==
== Statement of Activities ==

Revision as of 10:54, 6 May 2008

Random factoid: Our NAICS Code is 813410

Financial Statements

Statement of Financial Position

Assets Unrestricted Total
CURRENT ASSETS
Cash (Checking) $910.26 $910.26
Cash (PayPal) $18.39 $18.39
Cash (Cash Box) $0.00 $0.00
OTHER ASSETS
Security Deposit $850.00 $850.00
Total Assets $1,778.65 $1,778.65
Liabilities and Net Assets Unrestricted Total
CURRENT LIABILITIES
Rent $850.00 $850.00
Total Liabilities $850.00 $850.00
NET ASSETS
Total Net Assets $928.65 $928.65

Statement of Activities

Statement of Cash Flows

5 Largest Receipts (Since Last Report)

5 Largest Expenditures (Since Last Report)

Budget

Membership Dues

Propose $42/month for 2008 with waiver procedure as drafted in the Bylaws. PayPal cleared us today, so we can start collecting member dues. Minus PayPal fees, planning for $1,200/month for rent, internet and insurance, this means we need to have 30 members to maintain the space.

Already, we have 6 members so we need to find 24 more dues paying members.

Of course, anyone will be encouraged to donate more. Everything beyond $42 is tax deductible.

Budget Principle Proposal

Membership dues go to pay our Rent, Insurance, Internet. Anything beyond that raised, through Donations or other Income

  • Project-specific needs must be raised by projects
  • Excess, donations, etc. go towards group-wide goals approved at a meeting

Budget Proposals

HiDeUS (High Density Unit of Shelving) - $500

I authorized a budget of $400 for the lumber, but unless we raise may rent through Dues, we have to choose between funding the shelf or paying the rent. I propose a budget of $500.00 for finishing off the shelf.

Compliance Paperwork - $1,003.00

Form Purpose Cost
IRS 1023 501(c)(3) Exemption Application $750.00
FR 500 DC Business Tax Registration $0.00
FR 164 DC Income, Franchise, Sales, Use and Property Tax Exemption $0.00
DC Basic Business License (Charitable Solicitation) Required for soliciting donations from the public $253.00