Thursday, October 4, 2018

Ongoing Financial Report....(updated 10/31)

Transparency is incredibly important to this foundation, so I wanted to share the following financials to date:

Incoming funds (Updated 10/31/18):

      Donations: $6,247.95

** As a side note, there are only two board members and we wrote into our by-laws that we will receive no compensation this year as we determine how much work is involved in running the foundation. To prove our commitment, we funded the initial fees, wrote up the articles of incorporation and by-laws, filed the necessary paperwork and created the website to become an official 501(c)(3) tax exempt corporation. We also previously provided four $500 scholarships out of pocket as we were formulating the idea for this nonprofit.  

Expenses: $1,154.63

·       LegalZoom fees for Nonprofit charter/EIN number
·       Registered Agent fee
·       1023EZ Filing fee
·       Business Email and Domain
·       Website Domain fee
·       Fee for checks (bank)
·       Post Office Box fee
·       Pay Pal fees

   Scholarships rewarded to date: $2000.00

   Current Account Balance: $3,093.32

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