Treasurer's Report

John Bailey rekkanoryo at rekkanoryo.org
Sat Apr 2 13:37:26 EDT 2022


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

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