Actions

MoF Report 2008 05 06: Difference between revisions

From HacDC Wiki
No edit summary
 
(20 intermediate revisions by 5 users not shown)
Line 18: Line 18:
|-
|-
| Cash (Checking)
| Cash (Checking)
| $910.26
| $827.83
|
| $82.43
| $910.26
| $910.26
|-
|-
Line 48: Line 48:
|-
|-
! Total Assets
! Total Assets
| $1,778.65
| $1,696.22
|
|
| $1,778.65
| $1,778.65
Line 66: Line 66:
|
|
| $850.00
| $850.00
|-
| Notacon (Promotion)
| $500.00
|
| $500.00
|-
|-
! Total Liabilities
! Total Liabilities
| $850.00
| $1,350.00
|
|
| $850.00
| $1,350.00
|-
|-
| ''NET ASSETS''
| ''NET ASSETS''
Line 78: Line 83:
|-
|-
! Total Net Assets
! Total Net Assets
| $928.65
| $346.22
|
|
| $928.65
| $428.65
|-
|-
|}
|}
== Statement of Activities ==


== Statement of Financial Position ==
== Statement of Financial Position ==
Line 100: Line 103:
|
|
|-
|-
| Member Donations
| Member [[Donation]]s
| $1,795.00
| $1,805.00
|
|
| $1,795.00
| $1,805.00
|-
|-
| Grant Income
| Grant Income
Line 110: Line 113:
| $1,337.00
| $1,337.00
|-
|-
| Public Donations
| Public [[Donation]]s
| $390.01
| $390.01
| $82.43
| $82.43
| $482.43
| $472.44
|-
|-
| Other Income
| Other Income
Line 121: Line 124:
|-
|-
! Total Revenue and Other Support
! Total Revenue and Other Support
| $2,982.25
| $3,532.25
| $82.43
| $82.43
| $3,064.68
| $3,614.68
|-
|-
| ''EXPENSES'' (Supporting)
| ''EXPENSES'' (Supporting)
Line 131: Line 134:
|-
|-
| Rent
| Rent
| $850.00
| $1,700.00
|
|
| $850.00
| $1,700.00
|-
|-
| Promotional Expenses
| Promotional Expenses
Line 164: Line 167:
|
|
| $84.66
| $84.66
|-
| Volunteer Meals
| $50.00
|
| $50.00
|-
|-
| Bank Fees
| Bank Fees
Line 171: Line 179:
|-
|-
! Total Expenses
! Total Expenses
|  
| $3,186.03
|
| $3,186.03
|-
! Increase (Decrease) in Net Assets
| $346.22
|
|
|  
| $428.65
|-
|-
|}
|}


== Statement of Cash Flows ==
== 5 Largest Receipts (Since Last Report) ==


== 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) ==
== 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 =
= Budget =
Line 187: Line 236:
== Membership Dues ==
== 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.
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.
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.
Of course, anyone will be encouraged to [[Donation|donate]] more.  Everything beyond $42 is tax deductible.


== Budget Principle Proposal ==
== Budget Principles Proposal ==


Membership dues go to pay our Rent, Insurance, Internet. Anything beyond that raised, through Donations or other Income
* 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 cover the space's minimal expenses
* Project-specific needs must be raised by projects
* 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
* Excess, donations, etc. go towards group-wide goals approved at a meeting


== Budget Proposals ==
== Budget Proposals ==
Line 204: Line 252:
=== HiDeUS (High Density Unit of Shelving) - $500 ===
=== 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.
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 ===
=== Compliance Paperwork - $1,003.00 ===
Line 227: Line 275:
|-
|-
| DC Basic Business License (Charitable Solicitation)
| DC Basic Business License (Charitable Solicitation)
| Required for soliciting donations from the public
| Required for soliciting [[donation]]s from the public
| $253.00
| $253.00
|-
|-
|}
|}
[[Category:Meeting_Minutes]]

Latest revision as of 03:25, 6 April 2012

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 $346.22 $428.65

Statement of Financial Position

Unrestricted Restricted Total
REVENUE AND OTHER SUPPORT
Member Donations $1,805.00 $1,805.00
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 $3,532.25 $82.43 $3,614.68
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
Volunteer Meals $50.00 $50.00
Bank Fees $6.55 $6.55
Total Expenses $3,186.03 $3,186.03
Increase (Decrease) in Net Assets $346.22 $428.65

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 cover 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
Retrieved from "https://wiki.hacdcserver.org/index.php?title=MoF_Report_2008_05_06&oldid=7227"