MoF Report 2008 05 06: Difference between revisions
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Line 83: | Line 83: | ||
|- | |- | ||
! Total Net Assets | ! Total Net Assets | ||
| $ | | $346.22 | ||
| | | | ||
| $428.65 | | $428.65 | ||
Line 103: | Line 103: | ||
| | | | ||
|- | |- | ||
| Member | | Member [[Donation]]s | ||
| $1, | | $1,805.00 | ||
| | | | ||
| $1, | | $1,805.00 | ||
|- | |- | ||
| Grant Income | | Grant Income | ||
Line 113: | Line 113: | ||
| $1,337.00 | | $1,337.00 | ||
|- | |- | ||
| Public | | Public [[Donation]]s | ||
| $390.01 | | $390.01 | ||
| $82.43 | | $82.43 | ||
Line 124: | Line 124: | ||
|- | |- | ||
! Total Revenue and Other Support | ! Total Revenue and Other Support | ||
| $3, | | $3,532.25 | ||
| $82.43 | | $82.43 | ||
| $3, | | $3,614.68 | ||
|- | |- | ||
| ''EXPENSES'' (Supporting) | | ''EXPENSES'' (Supporting) | ||
Line 134: | Line 134: | ||
|- | |- | ||
| Rent | | Rent | ||
| $ | | $1,700.00 | ||
| | | | ||
| $ | | $1,700.00 | ||
|- | |- | ||
| Promotional Expenses | | Promotional Expenses | ||
Line 167: | Line 167: | ||
| | | | ||
| $84.66 | | $84.66 | ||
|- | |||
| Volunteer Meals | |||
| $50.00 | |||
| | |||
| $50.00 | |||
|- | |- | ||
| Bank Fees | | Bank Fees | ||
Line 174: | Line 179: | ||
|- | |- | ||
! Total Expenses | ! 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) == | == 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 = | ||
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== Membership Dues == | == 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. | 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 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 == | == Budget Proposals == | ||
Line 207: | Line 252: | ||
=== HiDeUS (High Density Unit of Shelving) - $500 === | === HiDeUS (High Density Unit of Shelving) - $500 === | ||
I authorized a budget of $400 for the | 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 230: | Line 275: | ||
|- | |- | ||
| DC Basic Business License (Charitable Solicitation) | | DC Basic Business License (Charitable Solicitation) | ||
| Required for soliciting | | 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 |