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Difference between revisions of "MoF Report 2008 05 06"

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| Cash (Checking)
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| $910.26
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| $82.43
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! Total Assets
! Total Assets
| $1,778.65
| $1,696.22
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| $1,778.65
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== Statement of Financial Position ==
== Statement of Financial Position ==

Revision as of 11:45, 6 May 2008

Random factoid: Our NAICS Code is 813410

Financial Statements

Statement of Financial Position

Assets Unrestricted Restricted Total
CURRENT ASSETS
Cash (Checking) $827.83 $82.43 $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 $1,696.22 $1,778.65
Liabilities and Net Assets Unrestricted Restricted Total
CURRENT LIABILITIES
Rent $850.00 $850.00
Notacon (Promotion) $500.00 $500.00
Total Liabilities $1,350.00 $1,350.00
NET ASSETS
Total Net Assets $428.65 $428.65

Statement of Financial Position

Unrestricted Restricted Total
REVENUE AND OTHER SUPPORT
Member Donations $1,795.00 $1,795.00
Grant Income $1,337.00 $1,337.00
Public Donations $390.01 $82.43 $472.44
Other Income $0.24 $0.24
Total Revenue and Other Support $3,522.25 $82.43 $3,604.68
EXPENSES (Supporting)
Rent $850.00 $850.00
Promotional Expenses $500.00 $500.00
Furniture (Fully Expensed) $307.24 $307.24
Supplies $305.55 $305.55
Transportation (Supplies) $136.63 $136.63
Hosting Costs $95.40 $95.40
Incorporation Costs $84.66 $84.66
Bank Fees $6.55 $6.55
Total Expenses $2,866.03 $2,866.03

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