EARTHWARD
Finance Summary 2004
Turn your vision earthward –
'Tis we must lend a hand.
Samuel P. Putnam
This is Earthward's Annual Report of our finances for the year 2004. It was last updated April 30, 2005. Information for part of 2005 is also included separately but may be subject to change.
Incorporation and tax exemption notice:
We are a nonprofit organization with a 501(c)(3) tax exempt status. Our EIN is 11-3688904. We are incorporated in Nevada, as of 2003.
Contributions 2004: $371.00
member contribution for website domains: $70.00
06/17/04 $100
09/21/04 India Tracey Fund $1.00
01/18/04 $100.00 (member contribution)
01/11/04 $100.00 (member contribution)
Contributions Jan-Apr. 2005: $340.56
member contribution for website domains: $70.00
02/01/05 $24.44
03/28/05 Paypal deposit $0.32
03/28/05 Paypal deposit $0.36
03/29/05 $97.00
04/08/05 $29.00 (to cover Western Union fee)
04/12/05 $24.44
04/30/05 $25.00 to cover filing fee for Nevada’s officer list form
02/04/05 $20.00
03/29/05 $50.00
Interest Earned in 2004:
$0.39 from PayPal money market
Interest Earned Jan-Apr. 2005:
$0.55 from PayPal money market
Our Programs, 2004:
Funds earmarked for India Tracey ($1 gross, 67 cents net) too small to disperse yet. Will hold onto until we get more funds, then disperse total.
Total program expenses: 0
Our Programs, Jan.-Apr. 2005:
04/08/05 $250.00 withdrawn and sent by Western Union to the Uganda Humanist Association to help the Okello* family, refugees from the Lord’s Resistance Army.
Total program expenses:
Fundraising Expenses for 2004:
paypal fees for credit card payment processing: $2.23
Domain name registration for earthward.net and earthward.org: about $70.00
Total fundraising expenses = $72.23
Fundraising Expenses for Jan.-Apr. 2005:
paypal fees for credit card payment processing: $9.53
Domain name registration for earthward.net and earthward.org: about $70.00
Total fundraising expenses = $
Better Business Fundraising Ratio 2004:
According to the Better Business Bureau, charities should adhere to the following guideline. Fundraising expenses divided by total related contributions should be no more than 35%. Earthward's fundraising expenses so far 2004 are $72.23, and our total related contributions so far have been $371, so 72.23/371 = 19%. This puts us well within the guideline and then some for 2004.
Administrative Expenses 2004:
P.O. box rental in Florida – now free
Postage costs: $0.00
Bank account monthly fee: $16 x 11 months= $176. (Dec. was free)
Total Administrative Expenses= $176
Total Expenses (Fundraising plus Administrative plus Services)= $248.23
Administrative Expenses Jan.-Apr. 2005:
P.O. box rental in Florida – free
Postage:
Western Union: $29.00 to send money to help the Okello* family
Filing fees: Yearly list of officers filing fee= $25.00
Bank account monthly fee: free till June
04/30/05 – $1.00 After confirming that the Held Law Firm is no longer collecting donations for the India Tracey Legal and Educational Fund, because of a court settlement in which the Union County school agreed to pay for her education, we returned to the donor her $1.00 we received last year specifically earmarked for the India Tracey fund.
Total Administrative Expenses= $
Total Expenses (Fundraising plus Administrative plus Services)= $
Better Business Services to Expenses Ratio for 2004:
According to the Better Business Bureau, charities should adhere to the following guideline (called Guideline 9). Our service expenses divided by our total expenses should be at least 65%.
For 2004, our donations, given mostly through our own volunteers, barely exceeded our expenses. As a result, we did not disperse any service funds. However, as you can see, we are doing much better for 2005.
In 2005 so far (in April), our service expenses have been $250.00, and our total expenses have been $384.55, and 250.00/384.55= 65%. So far (in April), for 2005, we are meeting the guidelines!
For a fairly new organization, we are making great progress. This is what the Better Business Bureau says of new organizations:
"An organization that does not meet Standards 8, 9 and/or 10 may provide evidence to demonstrate that its use of funds is reasonable. The higher fund raising and administrative costs of a newly created organization, donor restrictions on the use of funds, exceptional bequests, a stigma associated with a cause, and environmental or political events beyond an organization's control are among factors which may result in expenditures that are reasonable although they do not meet the financial measures cited in these standards." – Implementation Guide to the BBB Wise Giving Alliance Standards for Charity Accountability
Ending Net Assets for 2004: $16.42 total
paypal account= $4.04
checking account= $12.38
(2004: Our contributions ($371.00) minus our expenses ($232.23) minus our ending net assets ($16.42) equal $6.81 unaccounted for. Since we are not using a professional accountant, this probably just reflects an accounting error and not an actual loss. We will do better in the future.)