MoF Report 2008 05 06: Difference between revisions
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Revision as of 17:02, 6 May 2008
Random factoid: Our NAICS Code is 813410
Financial Statements
Statement of Financial Position
Statement of Activities
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
| 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 |