Difference between revisions of "Internal:Annual financial report (2017–2018)"

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Latest revision as of 14:41, 2 December 2018

Status: Under Review

This report describes the financial activities of Wikimedia District of Columbia during Fiscal Year 2017–18, covering the period from October 1, 2017 through September 30, 2018.

Income Statement

Revenue
Restricted revenue
Wikimedia Foundation grants $17,715.73 New grant funding for WikiConference North America 2018, less refunds of unspent grant funds from the 2016–17 SAPG, 2016–17 Art+Feminism, 2017 Strategy Salon, and 2017 USF SOLIS grants; includes grant funds subject to fiscal sponsorship agreements.
Other grants $50,000.00 New grant funding for the Wiki Art Depiction Explorer project from the Knight Foundation.
Restricted event sponsorships $2,000.00
Other restricted contributions $1,359.73
Total restricted revenue $71,075.46
Unrestricted revenue
Individual donations $75,000.00 Significant individual donations in excess of $1,000 per donor per year.
Member dues and donations $1,818.00 Membership dues and associated donations not exceeding $1,000 per member per year.
Affiliate programs $570.11 AmazonSmile and Nonprofits on Facebook.
Corporate donations $200.00
Total unrestricted revenue $77,588.11
Total revenue $148,663.57  
Expenses
Program costs
Institutional partnership
Staff $58,217.12 Wages and payroll taxes for one full-time employee.
Events $5,174.05 Food, beverage, and incidental costs.
Travel $182.43
Total institutional partnership costs $63,573.60
Grantmaking and sponsorship
Fiscal sponsorships $17,129.86 Expenditures of third-party grantee funds associated with the WikiConference North America 2016, WikiConference North America 2018, and Art+Feminism 2016–17 programs and administered by Wikimedia DC under a fiscal sponsorship agreement.
Total grantmaking and sponsorship costs $17,129.86
Training and support
Boot camp $12,628.23
Total training and support costs $12,628.23
Content development
Photography contests $1,000.00
Total content development costs $1,000.00
Total program costs $94,331.69  
Administrative costs
Finance
Accounting software $630.00 QuickBooks Online subscription.
Payroll service $576.00 Gusto payroll service.
Transaction fees $80.84 PayPal fees.
Total finance costs $$1,286.84
Insurance ($219.51) Refund of insurance premium overpayment.
Legal
Filing fees $333.45
Total legal costs $333.45
Mailing
Mail service $795.00 Mail delivery service at Cove.
Postage $127.15
PO box $136.00
Total mailing costs $1,058.15
Meetings
Annual meeting $610.00
Board meetings $225.00
Other meetings $0.00
Total meeting costs $835.00
Printing and publishing
Marketing materials $311.97
Business cards $85.44
Total printing and publishing costs $397.41
Technology $855.31
Travel
Long-distance travel $1,913.01
Total travel costs $1,913.01
Total administrative costs $6,459.66  
Total expenses $100,791.35  
Net surplus
Net operating surplus $47,872.22  
Other income and expenses
Depreciation ($385.31)
Total other income and expenses ($385.31)
Net surplus $47,486.91  

Statement of Accumulated Surplus

Beginning accumulated surplus $84,275.09  
Net surplus $47,486.91  
Total net accumulated surplus $131,762.00  

Balance Sheet

Assets
Current assets
Unrestricted cash $28,277.53
Restricted cash $101,484.47 Unspent funds from Wikimedia DC's SAPG grant for 2016–17 and the 2017 Strategy Salon grant, as well as third-party grantee funds associated with the "WikiConference North America 2016", "Art+Feminism 2016–17", and "USF SOLIS 2017" programs and administered by Wikimedia DC under a fiscal sponsorship agreement.
Accounts receivable $2,000.00
Total assets $131,762.00  
Liabilities and net assets
Net assets
Net accumulated surplus $131,762.00  
Total liabilities and net assets $131,762.00  

Notes

About Wikimedia District of Columbia:

Wikimedia District of Columbia is the official chapter of the Wikimedia movement in the Washington, DC area. The chapter is incorporated in the District of Columbia, which is its principal place of business. The chapter serves the District of Columbia, Maryland, Virginia, Delaware, and West Virginia and conducts outreach activities to further the mission of the Wikimedia movement, including free access to the world’s information.

Internal controls:

The President and Treasurer are, and were throughout the fiscal year, the only persons authorized to incur expenses on behalf of Wikimedia District of Columbia, in accordance with the Fiscal Control Policy. Expenses were authorized by the Board of Directors or by the President in order to conduct day-to-day business.

Asset accounts:

Wikimedia District of Columbia maintains a checking account at Wells Fargo Bank. Wikimedia District of Columbia additionally maintains a PayPal account, which is used to issue and receive payments.

Program expenses:

A detailed description of programs, including direct programs and grants, is provided in the Annual Report for Fiscal Year 2017–18.