Difference between revisions of "MoF Report 2008 06 13"

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(New page: Random factoid: Our NAICS Code is 813410 = Financial Statements = == Statement of Financial Position == {| cellspacing="10" cellpadding="0" |- | '''Assets''' | '''Unrestricted''' | '''...)
 
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Random factoid:  Our NAICS Code is 813410
+
Random factoid:  People aren't cashing our checks!
  
 
= Financial Statements =
 
= Financial Statements =
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|-
 
|-
 
| Cash (Checking)
 
| Cash (Checking)
| $827.83
+
| $18.31
 
| $82.43
 
| $82.43
| $910.26
+
| $100.74
 
|-
 
|-
 
| Cash (PayPal)
 
| Cash (PayPal)
| $18.39
+
| $1,417.16
 
|
 
|
| $18.39
+
| $1,417.16
 
|-
 
|-
 
| Cash (Cash Box)
 
| Cash (Cash Box)
| $0.00
+
| $110.00
 
|
 
|
| $0.00
+
| $110.00
 
|-
 
|-
 
|  
 
|  
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|-
 
|-
 
! Total Assets
 
! Total Assets
| $1,696.22
+
| $2,395.47
|
+
| $82.43
| $1,778.65
+
| $2,477.90
 
|-
 
|-
 
| '''Liabilities and Net Assets'''
 
| '''Liabilities and Net Assets'''
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|
 
|
 
|-
 
|-
| Rent
+
! Prepaid Dues
| $850.00
+
| $250.00
|
 
| $850.00
 
|-
 
| Notacon (Promotion)
 
| $500.00
 
 
|
 
|
| $500.00
+
| $250.00
 
|-
 
|-
 
! Total Liabilities
 
! Total Liabilities
| $1,350.00
+
| $250.00
 
|
 
|
| $1,350.00
+
| $250.00
 
|-
 
|-
 
| ''NET ASSETS''
 
| ''NET ASSETS''
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|-
 
|-
 
! Total Net Assets
 
! Total Net Assets
| $346.22
+
| $2,145.47
|
+
| $82.43
| $428.65
+
| $2,227.90
 
|-
 
|-
 
|}
 
|}
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|
 
|
 
|-
 
|-
| Member Donations
+
| Member Dues
| $1,805.00
+
| $3,050.00
 
|
 
|
| $1,805.00
+
| $3,050.00
 
|-
 
|-
| Grant Income
+
| Donation Income
| $1,337.00
+
| $1,939.80
|
+
| $82.43
| $1,337.00
+
| $2,022.23
 
|-
 
|-
| Public Donations
+
| Incorporators Contributions
| $390.01
+
| $1,750.00
| $82.43
+
|  
| $472.44
+
| $1,750.00
 
|-
 
|-
 
| Other Income
 
| Other Income
| $0.24
+
| $3.75
 
|
 
|
| $0.24
+
| $3.75
 
|-
 
|-
 
! Total Revenue and Other Support
 
! Total Revenue and Other Support
| $3,532.25
+
| $6,743.55
 
| $82.43
 
| $82.43
| $3,614.68
+
| $6,825.98
 
|-
 
|-
 
| ''EXPENSES'' (Supporting)
 
| ''EXPENSES'' (Supporting)
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|-
 
|-
 
| Rent
 
| Rent
| $1,700.00
+
| $2,550.00
 
|
 
|
| $1,700.00
+
| $2,550.00
 
|-
 
|-
| Promotional Expenses
+
| Insurance
| $500.00
+
| $0.00
 +
|
 +
| $0.00
 +
|-
 +
| Network & Hosting
 +
| $122.51
 
|
 
|
| $500.00
+
| $122.51
 
|-
 
|-
| Furniture (Fully Expensed)
+
| Equipment
| $307.24
+
| $1,003.91
 
|
 
|
| $307.24
+
| $1,003.91
 
|-
 
|-
 
| Supplies
 
| Supplies
| $305.55
+
| $59.16
 
|
 
|
| $305.55
+
| $59.16
 
|-
 
|-
 
| Transportation (Supplies)
 
| Transportation (Supplies)
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| $136.63
 
| $136.63
 
|-
 
|-
| Hosting Costs
+
| Volunteer Meals
| $95.40
+
| $50.00
 
|
 
|
| $95.40
+
| $50.00
 
|-
 
|-
 
| Incorporation Costs
 
| Incorporation Costs
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| $84.66
 
| $84.66
 
|-
 
|-
| Volunteer Meals
+
| Sponsorships
| $50.00
+
| $500.00
 
|
 
|
| $50.00
+
| $500.00
|-
 
| Bank Fees
 
| $6.55
 
|
 
| $6.55
 
 
|-
 
|-
 
! Total Expenses
 
! Total Expenses
| $3,186.03
+
| $4,680.51
 
|
 
|
| $3,186.03
+
| $4,680.51
 
|-
 
|-
 
! Increase (Decrease) in Net Assets
 
! Increase (Decrease) in Net Assets
| $346.22
+
| $2,145.47
|
+
| $82.43
| $428.65
+
| $2,227.90
|-
 
|}
 
 
 
== 5 Largest Receipts (Since Last Report) ==
 
 
 
{|
 
|-
 
| University of Advancing Technology (Grant)
 
| $1,337.00
 
|-
 
| Adam Koeppel (Member Donation)
 
| $350.00
 
|-
 
| Nick Farr (Member Donation)
 
| $350.00
 
|-
 
| Alli Treman (Member Donation)
 
| $350.00
 
|-
 
| Eric Michaud (Member Donation)
 
| $350.00
 
|-
 
|}
 
 
 
== 5 Largest Expenditures (Since Last Report) ==
 
 
 
{|
 
|-
 
| Rent (April)
 
| $850.00
 
|-
 
| Rent (May)
 
| $850.00
 
|-
 
| Security Deposit (April - December 08)
 
| $850.00
 
|-
 
| Notacon Conference Sponsorship
 
| $500.00
 
|-
 
| Ikea
 
| $307.24
 
|-
 
|}
 
 
 
= Budget =
 
 
 
== Membership Dues ==
 
 
 
The general proposal under discussion is $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 Principles Proposal ==
 
 
 
* Our Monthly Expenses (Rent, Insurance, Internet, Basic Supplies) shall remain under a fixed amount per month to be fully fundable by member dues.
 
* Membership dues alone must be able to conver the space's minimal expenses
 
* Anything raised beyond expenses, be it through a "soda fund", the sale of recycled equipment, etc (and not restricted to a cause) should 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 initial construction.  I propose a budget of $500.00 for finishing off the shelf, however, we need to raise May Dues to pay for May Rent first.
 
 
 
=== Compliance Paperwork - $1,003.00 ===
 
 
 
{| border="1" cellpadding="3" cellspacing="0"
 
|-
 
! 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
 
 
|-
 
|-
 
|}
 
|}

Revision as of 15:37, 17 June 2008

Random factoid: People aren't cashing our checks!

Financial Statements

Statement of Financial Position

Assets Unrestricted Restricted Total
CURRENT ASSETS
Cash (Checking) $18.31 $82.43 $100.74
Cash (PayPal) $1,417.16 $1,417.16
Cash (Cash Box) $110.00 $110.00
OTHER ASSETS
Security Deposit $850.00 $850.00
Total Assets $2,395.47 $82.43 $2,477.90
Liabilities and Net Assets Unrestricted Restricted Total
CURRENT LIABILITIES
Prepaid Dues $250.00 $250.00
Total Liabilities $250.00 $250.00
NET ASSETS
Total Net Assets $2,145.47 $82.43 $2,227.90

Statement of Financial Position

Unrestricted Restricted Total
REVENUE AND OTHER SUPPORT
Member Dues $3,050.00 $3,050.00
Donation Income $1,939.80 $82.43 $2,022.23
Incorporators Contributions $1,750.00 $1,750.00
Other Income $3.75 $3.75
Total Revenue and Other Support $6,743.55 $82.43 $6,825.98
EXPENSES (Supporting)
Rent $2,550.00 $2,550.00
Insurance $0.00 $0.00
Network & Hosting $122.51 $122.51
Equipment $1,003.91 $1,003.91
Supplies $59.16 $59.16
Transportation (Supplies) $136.63 $136.63
Volunteer Meals $50.00 $50.00
Incorporation Costs $84.66 $84.66
Sponsorships $500.00 $500.00
Total Expenses $4,680.51 $4,680.51
Increase (Decrease) in Net Assets $2,145.47 $82.43 $2,227.90