X.org Treasurer's Report FY2016

[Luc Verhaegen]

On Wed, Mar 22, 2017 at 09:03:16AM +0100, Daniel Vetter wrote:
> Hi Bryce,
> 
> On Tue, Mar 21, 2017 at 01:11:18PM -0700, Bryce Harrington wrote:
> > 			X.org Treasurer's Report

Bryce, i did not get this email. Is your osg.samsung.com email address 
known to the members ml?

> > 				  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

Legal costs? I guess one would have to have the MIA treasurer reports of 
the last decade to learn about those.

> > 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

Thanks

Luc Verhaegen.