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MoF Report 2008 06 13: Difference between revisions

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(New page: Random factoid: Our NAICS Code is 813410 = Financial Statements = == Statement of Financial Position == {| cellspacing="10" cellpadding="0" |- | '''Assets''' | '''Unrestricted''' | '''...)
 
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Random factoid:  Our NAICS Code is 813410
Random factoid:  People aren't cashing our checks!


= Financial Statements =
= Financial Statements =
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|-
|-
| Cash (Checking)
| Cash (Checking)
| $827.83
| $18.31
| $82.43
| $82.43
| $910.26
| $100.74
|-
|-
| Cash (PayPal)
| Cash (PayPal)
| $18.39
| $1,417.16
|
|
| $18.39
| $1,417.16
|-
|-
| Cash (Cash Box)
| Cash (Cash Box)
| $0.00
| $110.00
|
|
| $0.00
| $110.00
|-
|-
|  
|  
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|-
|-
! Total Assets
! Total Assets
| $1,696.22
| $2,395.47
|
| $82.43
| $1,778.65
| $2,477.90
|-
|-
| '''Liabilities and Net Assets'''
| '''Liabilities and Net Assets'''
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|
|
|-
|-
| Rent
! Prepaid Dues
| $850.00
| $250.00
|
| $850.00
|-
| Notacon (Promotion)
| $500.00
|
|
| $500.00
| $250.00
|-
|-
! Total Liabilities
! Total Liabilities
| $1,350.00
| $250.00
|
|
| $1,350.00
| $250.00
|-
|-
| ''NET ASSETS''
| ''NET ASSETS''
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|-
|-
! Total Net Assets
! Total Net Assets
| $346.22
| $2,145.47
|
| $82.43
| $428.65
| $2,227.90
|-
|-
|}
|}
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|
|
|-
|-
| Member Donations
| Member Dues
| $1,805.00
| $3,050.00
|
|
| $1,805.00
| $3,050.00
|-
|-
| Grant Income
| Donation Income
| $1,337.00
| $1,939.80
|
| $82.43
| $1,337.00
| $2,022.23
|-
|-
| Public Donations
| Incorporators Contributions
| $390.01
| $1,750.00
| $82.43
|  
| $472.44
| $1,750.00
|-
|-
| Other Income
| Other Income
| $0.24
| $3.75
|
|
| $0.24
| $3.75
|-
|-
! Total Revenue and Other Support
! Total Revenue and Other Support
| $3,532.25
| $6,743.55
| $82.43
| $82.43
| $3,614.68
| $6,825.98
|-
|-
| ''EXPENSES'' (Supporting)
| ''EXPENSES'' (Supporting)
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|-
|-
| Rent
| Rent
| $1,700.00
| $2,550.00
|
|
| $1,700.00
| $2,550.00
|-
|-
| Promotional Expenses
| Insurance
| $500.00
| $0.00
|
| $0.00
|-
| Network & Hosting
| $122.51
|
|
| $500.00
| $122.51
|-
|-
| Furniture (Fully Expensed)
| Equipment
| $307.24
| $1,003.91
|
|
| $307.24
| $1,003.91
|-
|-
| Supplies
| Supplies
| $305.55
| $59.16
|
|
| $305.55
| $59.16
|-
|-
| Transportation (Supplies)
| Transportation (Supplies)
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| $136.63
| $136.63
|-
|-
| Hosting Costs
| Volunteer Meals
| $95.40
| $50.00
|
|
| $95.40
| $50.00
|-
|-
| Incorporation Costs
| Incorporation Costs
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| $84.66
| $84.66
|-
|-
| Volunteer Meals
| Sponsorships
| $50.00
| $500.00
|
|
| $50.00
| $500.00
|-
| Bank Fees
| $6.55
|
| $6.55
|-
|-
! Total Expenses
! Total Expenses
| $3,186.03
| $4,680.51
|
|
| $3,186.03
| $4,680.51
|-
|-
! Increase (Decrease) in Net Assets
! Increase (Decrease) in Net Assets
| $346.22
| $2,145.47
|
| $82.43
| $428.65
| $2,227.90
|-
|}
 
== 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 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 ===
 
{| 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
|-
|-
|}
|}

Revision as of 22:37, 17 June 2008

Random factoid: People aren't cashing our checks!

Financial Statements

Statement of Financial Position

Assets Unrestricted Restricted Total
CURRENT ASSETS
Cash (Checking) $18.31 $82.43 $100.74
Cash (PayPal) $1,417.16 $1,417.16
Cash (Cash Box) $110.00 $110.00
OTHER ASSETS
Security Deposit $850.00 $850.00
Total Assets $2,395.47 $82.43 $2,477.90
Liabilities and Net Assets Unrestricted Restricted Total
CURRENT LIABILITIES
Prepaid Dues $250.00 $250.00
Total Liabilities $250.00 $250.00
NET ASSETS
Total Net Assets $2,145.47 $82.43 $2,227.90

Statement of Financial Position

Unrestricted Restricted Total
REVENUE AND OTHER SUPPORT
Member Dues $3,050.00 $3,050.00
Donation Income $1,939.80 $82.43 $2,022.23
Incorporators Contributions $1,750.00 $1,750.00
Other Income $3.75 $3.75
Total Revenue and Other Support $6,743.55 $82.43 $6,825.98
EXPENSES (Supporting)
Rent $2,550.00 $2,550.00
Insurance $0.00 $0.00
Network & Hosting $122.51 $122.51
Equipment $1,003.91 $1,003.91
Supplies $59.16 $59.16
Transportation (Supplies) $136.63 $136.63
Volunteer Meals $50.00 $50.00
Incorporation Costs $84.66 $84.66
Sponsorships $500.00 $500.00
Total Expenses $4,680.51 $4,680.51
Increase (Decrease) in Net Assets $2,145.47 $82.43 $2,227.90
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