Annual Financial Report for Fiscal Year 2012–13

Report from the Audit Committee

Forthcoming

Income Statement

Revenue
	Donations	$7,490.00
	Grants	$2,750.00	This does not include the "Outreach 2013" grant of $11,086.05 awarded by the Wikimedia Foundation, which is funded through excess grant funds from last year.
	Event sponsorships	$500.00
	Membership dues	$590.00
	Wikimania 2012	($14.00)	Final Wikimania business, including refunds and receipts from uncollected accounts.
	Total revenue	$11,316.00
Expenses
	Program	$12,232.14
	Taxes	$4,102.68	Corporate income taxes paid to the federal and DC governments from Fiscal Years 2011 and 2012, paid in this fiscal year due to difficulties and delays securing tax-exempt status from the IRS. This expense is not expected to recur.
	Rent	$1,320.00	Office at 1629 K Street NW, Washington, DC.
	Administrative expenses	$615.32
	Grants	$592.70	Grants which funded programs were instead classified as program expenses.
	Technical expenses	$497.90
	Asset depreciation	$384.83	20% of original value per year.
	Transaction fees	$124.91	To Wells Fargo, Paypal, and others.
	Total expenses	$19,870.48
Net income
	Net income (loss)	($8,554.48)

Statement of Retained Earnings

	Beginning retained earnings	$15,449.10
	Net loss	($8,554.48)
	Total retained earnings	$6,894.62

Balance Sheet

Assets
	Current assets
		Unrestricted cash	$2,302.29	Includes our bank account and two prepaid cards.
		Temporarily restricted cash	$3,133.21	From WMF Bootstrapping Grant and Outreach 2013 grant.
	Non-current assets
		Fixed assets	$1,923.94
		Accumulated depreciation	($384.83)
		Net fixed assets	$1,539.11
	Total assets		$6,974.61
Liabilities and Equity
	Liabilities
		Net liabilities	$0.00
	Equity
		Retained earnings	$6,894.62
		Donated capital	$79.99
	Total liabilities and equity		$6,974.61

Statement of Cash Flows

Operating activities
	Decrease in accounts payable	($11,877.93)
	Decrease from operations	($2,811.54)
	Decrease in pre-paid expenses	($81.45)
	Total operating activities	($14,770.92)
Investing activities
	Total investing activities	$0.00
Financing activities
	Total financing activities	$0.00
Net cash flow
	Net decrease in cash	($14,770.92)

Notes

About Wikimedia District of Columbia: Wikimedia District of Columbia is the official chapter of the Wikimedia movement in the Washington, D.C. area. The chapter serves the District of Columbia, Maryland, Virginia, Delaware, and West Virginia. It is incorporated in the District of Columbia and this is its principal place of business (and the term Corporation refers to the chapter's official identity, below). The chapter conducts outreach activities in our chapter’s region in order to further the cause of the Wikimedia movement, including free access to the world’s information. While structured as a not-for-profit membership organization, the Corporation has not yet received a determination of tax-exempt status from the Internal Revenue Service, and so the Corporation has had tax liabilities on its income in past years and this year.

Internal controls: Wikimedia-DC's President and Treasurer are and were throughout the year the only persons authorized to incur expenses on behalf of the Corporation. Expenses were authorized by (1) the Board of Directors or the Membership, or (2) by the President in order to conduct day-to-day business.

Taxes: Wikimedia DC continues to owe taxes to the IRS and to DC until its 501(c)3 status is established.

Depreciation: We have applied a 20% depreciation charge to our value of fixed assets for the first time at the end of this fiscal year. Our intent is to continue to use the straight-line method to calculate depreciation in future years.

Accounts payable: Wikimedia District of Columbia has no lines of credit, so any recognized accounts payable are from accounts where an expense is recognized but payment is deferred for whatever reason. Expenses are recognized when we receive documentation of an expense such as an invoice or receipt.

Asset accounts maintained: Wikimedia DC maintains two checking account at Wells Fargo Bank, one for general purposes and the other for the Outreach grant and associated expenses. The Wikimedia Foundation which funded the Outreach grant requires it to be in a separate account.

For reference: previous Annual Financial Report, for Fiscal 2012