Treasurer's Report

[John Bailey]

I don't know where I got March 31 as the deadline for the Delaware
filing.  The deadline was actually February 28, and I didn't know I
had missed the deadline until around March 24.

John

On Sat, Apr 2, 2022 at 1:37 PM John Bailey <rekkanoryo at rekkanoryo.org> wrote:
>
> Board,
>
> Please find below my annual Treasurer's Report.  My schedule in April
> will prevent me from being able to organize and attend a board meeting
> during the month, however, I thought it would be useful to provide the
> report as usual.
>
> Treasurer's Report:
>
> Closing Balance as of December 31, 2020 was $24,727.55.
>
> Opening Balance as of January 1, 2021 was $24,727.55.
>
> Income:
>   * Amazon Smile: $40.07
>   * Google Summer of Code: $800.00
>   * Interest: $4.00
>   * Spreadshirt: $63.00
>   * Other donations: $562.19
>
>   Total Income: $1,469.26
>
> Expense:
>   * Development:
>     * Mac Mini reimbursement to John Bailey: $700.00
>     * Code Signing Certificate reimbursement to Gary Kramlich: $177.00
>   * Fees:
>     * Renewal of domains and purchase of pidginchat.com (Reimbursement
>       to John Bailey): $105.40
>   * Disbursement of Google Summer of Code Mentor Stipend to Gary
>     Kramlich: $800.00
>
>   Total Expense: $1,782.40
>
> Net change in money on hand for the year is a loss of $313.14.
>
> Closing Balance as of December 31, 2021 is $24,414.41, broken down as
> follows:
>   * Checking account: $1,500.00
>   * Paypal: $113.99
>   * Savings Account: $22,800.42
>
> Additional items to note--John made the following transfers:
>   * $2,500.00 from Paypal to Checking account
>   * $169.92 from Paypal to Checking account
>   * $146.10 from Paypal to Checking account
>   * $57.93 from Paypal to Checking account
>   * $53.00 from Paypal to Checking account
>   * $148.87 from Paypal to Checking account
>   * $5,000.00 from Checking account to Savings account
>   * $146.10 from Checking account to Savings account
>   * $57.93 from Checking account to Savings account
>   * $372.91 from Checking account to Savings account
>   * $518.90 from Checking account to Savings account
>   * $148.87 from Checking account to Savings account
>
> The above transfers were made to maintain the Paypal balance at $100.00
> and the Checking account balance at $1500.00
>
> As always, the GnuCash ledger and bank statements are available for
> examination by the Board and Officers upon request.  GnuCash files are
> available in Keybase in the IMF Officers group's files.
>
> 2022 So far...
>
> Opening Balance as of January 1, 2022 was $24,414.41.
>
> Income:
>   * Interest: $1.12
>   * Amazon Smile: $17.12
>   * Spreadshirt: $15.00
>   * Other Donations: $13.50
>
>   Total Income: $46.74
>
> Expense:
>   * Fees:
>     * Reimbursement to John Bailey for domain renewals (pidgin.im and
>       adium.im): $40.00
>
>   Total Expense: $40.00
>
> Current Balance: $24,421.15, broken down as follows:
>   * Paypal: $100.00
>   * Checking account: $1,475.00
>   * Savings account: $22,846.15
>
> Net change, "profit" of $6.74.
>
> Transactions:
>   * Transfer of $18.33 from Paypal to Checking account
>   * Transfer of $9.16 from Paypal to Checking account
>   * Transfer of $44.61 from Checking account to Savings account
>   * Transfer of $15.00 from Paypal to Checking account
>   * Reimbursement to John for domain renewals (pidgin.im and adium.im)
>
> The above transfers were made to keep the PayPal balance at $100 and
> the Checking account balance near $1,500.  This also helps maximize our
> interest income.
>
> Additional items to note:
>   * John sent 1099-NEC to Gary for the mentor stipend disbursement from
>     2021.  This had a deadline of January 31, which John met.
>   * John filed the forms with the IRS that went with Gary's 1099-NEC.
>     This had a deadline of January 31, which John met.
>   * John missed the filing deadline with Delaware and incurred a $200
>     penalty and $3 interest charge.  Deadline was March 31.  Total
>     expense for this is $228.  John directly filed with Delaware to
>     save $235 in additional filing fees from CT Corp.  This has not
>     been reimbursed to John yet due to it being over the $50 threshold.
>   * John will receive an invoice in July from CT Corp for approximately
>     $165.  This is the annual fee for their representation services,
>     which are required for us to remain a Delaware corporation.
>   * John renewed the pidgin.im and adium.im domains and reimbursed
>     himself for it due to the total expense being $40, which is under
>     the $50 threshold to require Board approval.
>
>
> Thanks,
> John