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MoF Report 2008 05 16: Difference between revisions

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|
|-
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| Member Donations
| Member Dues
| $1,805.00
| $1,050.00
|
|
| $1,805.00
| $1,050.00
|-
|-
| Grant Income
| Donation Income
| $1,337.00
| $1,808.75
|
| $82.43
| $1,337.00
| $1,891.18
|-
|-
| Public Donations
| Incorporator's Contributions
| $390.01
| $1,750.00
| $82.43
| $
| $472.44
| $1,750.00
|-
|-
| Other Income
| Other Income
| $0.24
| $2.19
|
|
| $0.24
| $2.19
|-
|-
! Total Revenue and Other Support
! Total Revenue and Other Support
| $3,532.25
| $4,610.94
| $82.43
| $82.43
| $3,614.68
| $4,693.37
|-
|-
| ''EXPENSES'' (Supporting)
| ''EXPENSES'' (Supporting)
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| $1,700.00
| $1,700.00
|-
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| Promotional Expenses
| Insurance
| $500.00
| $0.00
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| $0.00
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| Networking & Hosting
| $122.51
|
|
| $500.00
| $122.51
|-
|-
| Furniture (Fully Expensed)
| Equipment
| $307.24
| $553.16
|
|
| $307.24
| $553.16
|-
|-
| Supplies
| Supplies
| $305.55
| $59.16
|
| $59.16
|-
| Conferences and Outreach
| $500.00
|
|
| $305.55
| $500.00
|-
|-
| Transportation (Supplies)
| Transportation
| $136.63
| $136.63
|  
|
| $136.63
| $136.63
|-
|-
| Hosting Costs
| Volunteer Meals
| $95.40
| $50.00
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| $95.40
| $50.00
|-
|-
| Incorporation Costs
| Incorporation Costs
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| $84.66
| $84.66
|-
|-
| Volunteer Meals
! Bank Fees
| $50.00
| $101.87
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|
| $50.00
| $101.87
|-
| Bank Fees
| $6.55
|
| $6.55
|-
|-
! Total Expenses
! Total Expenses
| $3,186.03
| $3,308.46
|
|
| $3,186.03
| $3,308.46
|-
|-
! Increase (Decrease) in Net Assets
! Increase (Decrease) in Net Assets
| $346.22
| $1,302.48
|
| $82.43
| $428.65
| $1,384.91
|-
|-
|}
|}

Revision as of 22:18, 16 May 2008

Random factoid: AMEX Payments apparently do not clear right away in PayPal's system.

NOTICE

The Ministry of Finance will be publishing weekly financial reports on Fridays.

Financial Statements

Statement of Financial Position

Assets Unrestricted Restricted Total
CURRENT ASSETS
Cash (Checking) $318.59 $82.43 $401.02
Cash (PayPal) $983.89 $983.89
Cash (Cash Box) $0.00 $0.00
OTHER ASSETS
Security Deposit $850.00 $850.00
Total Assets $2,152.48 $2,234.91
Liabilities and Net Assets Unrestricted Restricted Total
CURRENT LIABILITIES
Notacon (Promotion) $500.00 $500.00
Prepaid Member Dues $350.00 $350.00
Total Liabilities $850.00 $850.00
NET ASSETS
Total Net Assets $1,302.48 $1,384.91

Statement of Financial Position

Unrestricted Restricted Total
REVENUE AND OTHER SUPPORT
Member Dues $1,050.00 $1,050.00
Donation Income $1,808.75 $82.43 $1,891.18
Incorporator's Contributions $1,750.00 $ $1,750.00
Other Income $2.19 $2.19
Total Revenue and Other Support $4,610.94 $82.43 $4,693.37
EXPENSES (Supporting)
Rent $1,700.00 $1,700.00
Insurance $0.00 $0.00
Networking & Hosting $122.51 $122.51
Equipment $553.16 $553.16
Supplies $59.16 $59.16
Conferences and Outreach $500.00 $500.00
Transportation $136.63 $136.63
Volunteer Meals $50.00 $50.00
Incorporation Costs $84.66 $84.66
Bank Fees $101.87 $101.87
Total Expenses $3,308.46 $3,308.46
Increase (Decrease) in Net Assets $1,302.48 $82.43 $1,384.91

5 Largest Receipts (Since Last Report)

Prepaid Dues (Member 010) $300.00
Member Dues (Various) $50.00
Member Dues (Various) $50.00
Member Dues (Various) $50.00
Member Dues (Various) $50.00

5 Largest Expenditures (Since Last Report)

No Expenditures (Since Last Report)

Budget

Membership Dues

The general proposal agreed to on Tuesday, May 6 was to charge $50/month for dues, strongly encouraging members to donate via PayPal for privacy reasons.

This amount will be re-evaluated as expenses become more well known.

As of COB on the date of this report, we have 22 dues paying members establishing a base budget of $1,100 to cover Rent, Insurance and Internet for the space.

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

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
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