View source for MoF Report 2008 05 06

Random factoid:  Our NAICS Code is 813410

= Financial Statements =

== Statement of Financial Position ==

{| cellspacing="10" cellpadding="0"
|-
| '''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
| $346.22
|
| $428.65
|-
|}

== Statement of Financial Position ==

{| cellspacing="10" cellpadding="0"
|-
| 
| '''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
| $1,700.00
|
| $1,700.00
|-
| 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
| $3,136.03
|
| $3,136.03
|-
! Increase (Decrease) in Net Assets
| $386.22
|
| $468.65
|-
|}

== 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 ===

{| 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
|-
|}