I am redrafting (OK, I copied and pasted some as well) Rob's email to us in thread format to get this going so here goes. I have taken out Steve's donations as I don't think that is anyone outside of the BOD's business. If I remember correctly, Steve even said that he was donating extra to ensure we had financial reserves. I can add them back if so deemed.
All comments, suggestions, etc are welcome.
Below is the North Carolina Woodworker financial summary for July 2008 through June 2009.
July 2008 to June 2009 NC Woodworker, Inc Profit and Loss Summary
Income
Total Income----------------------------------------------$15,853
Expenses
Total Expenses----------------------------------------------$12,497
Reserves ----------------------------------------------------$ 3,356
July 2009 donations (15 individual contributions MTD) -------$ 490
All comments, suggestions, etc are welcome.
Below is the North Carolina Woodworker financial summary for July 2008 through June 2009.
- We pay approximately $250 monthly for web hosting, around $15 a month for business banking fees, and another $50 a month for miscellaneous fees.
- These figures do not take into account the loss of advertising revenues from Amazon that were received in fiscal year 2008 and are not being received in 2009.
- We have not included Steve Cole's "out-of-pocket" contributions because they are no longer occurring.
- We do not have credit – we need enough in reserve to pay for expenses as they arise.
July 2008 to June 2009 NC Woodworker, Inc Profit and Loss Summary
Income
- Donations-------------------------------------------------$ 4,840
- Advertising revenues------------------------------------$ 4,057
- Raffles-----------------------------------------------------$ 5,965
- Net calendar sales---------------------------------------$ 991
Total Income----------------------------------------------$15,853
Expenses
- Website Operations ----------------------------------------$ 3,478
- Picnic and Events -------------------------------------------$ 2,447
- Prizes (raffle, calendar, etc) -------------------------------$ 1,835
- Supplies (printing, copying, mailing shipping) ----------$ 2,685
- Admin Fees (banking, accounting, legal, etc) -----------$ 2,052
Total Expenses----------------------------------------------$12,497
Reserves ----------------------------------------------------$ 3,356
July 2009 donations (15 individual contributions MTD) -------$ 490
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