X.org Treasurer's Report FY2016

[Daniel Vetter]

Hi Bryce,

On Tue, Mar 21, 2017 at 01:11:18PM -0700, Bryce Harrington wrote:
> 			X.org Treasurer's Report

Stored in my secretary's files and pushed out to the bod git repo.

Thanks a lot for doing all this work as secretary of X.org!
-Daniel

> 				  2016
> 
> BEGINNING BALANCE (Jan 1, 2016):                          38,448.79
>    X.org Bank of America Account               38,448.79
>    SPI Account                                      0.00
> 
> Income
>    Donations:                                     551.00
>    GSoC 2015 Stipends:                          3,000.00
>    TOTAL INCOME:                                3,551.00
> 
> Expenses
>    EVoC 2015 Sponsorship:                      -4,500.00
>    XDC Sponsorships:                           -2,959.44
>    NRAI (X.org Foundation):                      -518.82
>    BofA Fees:                                     -79.00
>    SPI:                                           -27.55
>    PayPal Fees:                                    -2.12
>    Click&Pay Fees:                                -20.94
>    Chargeback:                                    -56.00
>    TOTAL EXPENSES:                             -8,163.87
> 
> ENDING BALANCE (Dec 31, 2016):                            33,835.92
>    X.org Bank of America Account                  391.53
>    SPI Account                                 33,444.39
> 
> 
> 
> == Financial Management ==
> 
> This year marked a major transition for the X.org treasury.  The X.org
> Foundation moved from being an independent organization to become a
> member project within the Software for the Public Interest (SPI).
> 
> Over the course of the year, we first established financial management
> within SPI, initiating our SPI-managed accounts with Click&Pledge and
> PayPal, then transitioned the bulk of X.org's cash assets from the
> organization's Bank of America account to SPI.  We are in process of
> filing for dissolution of the X.org Foundation legal structure with the
> State of Delaware, and then will close out the Bank of America account
> and transfer the remainder of funds to SPI.
> 
> Along with this transition, we have also restructured our handling of
> X.org's financial data.  The project's historical financial
> documentation has been organized into an encrypted repository shared and
> managed by X.org board members; this should help ensure X.org's
> 'institutional memory' is easily accessible to future board members.  A
> Ledger CLI instance has been established in this repository for
> registering all monetary transactions.
> 
> With these steps taken, X.org's financial management should be much more
> streamlined and its legal costs significantly reduced.  Having SPI to
> handle tax filing and cash accounts management removes a big time burden
> from X.org.
> 
> 
> == Fundraising ==
> 
> Google's Summer of Code program remained the principle source of income
> for X.org this period, however the addition of SPI's PayPal and
> Click&Pledge donation services in the 2nd half of the year augmented
> X.org's income via numerous individual donations.  These services now
> registered and in place to support future targeted X.org fundraising
> activities as needed.  Member projects can link to the donation forms
> from their own website, and SPI also maintains a multi-project form to
> allow donors to distribute their donation across several projects.
> 
> 
> == Funded Activities ==
> 
> The primariy expenditures for the project in 2016 were sponsorships
> relating to its 2015 Endless Vacation of Code (EVoC) and 2016 X
> Developers' Conference (XDC) programs.  The EVoC sponsorship occurred in
> 2015 but due to complications related to international financial
> transfers, the payment was finalized only in 2016.  For XDC, sponsorship
> was for travel expenses for three attendees to Helsinki.
> 
> 
> ---
> Bryce W. Harrington
> bryce at osg.samsung.com
> X.org Foundation Treasurer



> _______________________________________________
> board at foundation.x.org: X.Org Foundation Board of Directors
> Archives: https://foundation.x.org/cgi-bin/mailman/private/board
> Info: https://foundation.x.org/cgi-bin/mailman/listinfo/board


-- 
Daniel Vetter
Software Engineer, Intel Corporation
http://blog.ffwll.ch