wiki:projects/leadership-committee/feb-2011/finance

Version 2 (modified by Jamie McClelland, 9 years ago) (diff)

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Finance Report

Summary

May First/People Link is in better financial shape that at any other time in our history. While our typical monthly expenses (excluding re-imbursed expenses) is between $6,000 and $7,000 per month, our bank balance has crested $20.000 on several occasions in the past 6 months.

This news is starkly different from last year. There are two reasons for the change:

  • For the first time in 4 years, our hosting expenses have not gone up. In fact they've gone down by nearly $200. We were able to renew our Highwinds/XO contract at the same rate and re-negotiate a lower rate for Telehouse. Over the last five years, we've consistently increased our income, however, that increase has always been offset by sometimes dramatic increases in expenses. We will be re-negotiating both Highwinds/XO and Telehouse contracts this summer, however, we expect we can continue at the same cost (which still leaves us for room for growth).
  • We have increased the number of members paying monthly for virtual servers. Most members pay $200/year for an organizational membership. As of now, we have 14 members paying monthly membership dues in the range of $100 and $300, totally $2,805. Furthermore, one members which was significantly behind in their monthly dues, has begun paying regularly, including extra to payoff the debt.

Recommendations

We propose that we hire our first paid staff person starting as a one-day a week business manager, primarily in charge of membership dues collection. The staff person would be responsible for handling the bank transactions and contacting members behind in dues.

Numbers

Profit / Loss

Income

Donations 1,440
Grants 5,000
Hosting 169,684
Interest 14
Re-imbursement/Contribution 6,190
Total $182328.74

Expense

Bank Charges 903
Computer Hardware 11,562
Conference Registration 360
Consultant fees 4,000
Food/Entertainment 692
Internet 54,794
Lodging 1,729
Membership dues and subs 500
Misc. 250
Office supplies 11
Postage 362
Printing 616
Rent and utilities 3,950
Telephone/Faxing 371
Transportation - Local 42
Transportation - Out of Town 8,374
Total Expenses $88516.79
NET 93811.95

Outstanding Invoices

Total Owed $93,167.00
Total invoices 344

Breakdowns

Within the last quarter$52,181 (103 invoices)
Older than one quarter$11,475 (64 invoices)
Older than two quarters$4,300 (24 invoices)
Older than three quarters$5,915 (34 invoices)
Older than four quarters$18,996 (117 invoices)