You are hereFOM Financial Report and Budget January 1, 2010
FOM Financial Report and Budget January 1, 2010
Starting Balance 1/1/09: $ 3,818.29
Surplus/Deficit 2009: $ 1,129.97
Total Balance 12/31/09: $ 4,948.26
Operations For 2009
|In kind donations||753.00|
Commissions & Fees – Active giving
|Conference - (in kind donation)||753.00|
|Taxes & Licenses||30.00|
|Net Operating Income||$543.10|
8 NPCA paid memberships at $15 - $120.00
13 donors averaging $ 294.42 (Up from 2008 of 8 @ $262)
Uses of Funds 2009 (Does not include the in-kind contribution)
Admin costs 15%, projects 69%, reserves for next year 15%
Rich’s Comment on 2009 –
Three projects funded in 2009!
- PCV Karen Schaan in Krusevo
- PCV Aubrey Harris in Strumica
- PCV Rachel Smith in Zrnovici
- 2009 saw more projects, more donors, and bigger donations: Small but steady progress. Our internal systems and sustainable practices seem to be developing at a similarly steady pace.
- We switched from a membership to a donation based funding relationship with our network of friends. I am told by PC Macedonia that there are now over 400 RPCV’s from Macedonia who can all be part of FOM.
Budget for 2010
|Administrative expenses||$60||More donations through active giving|
and wire transfers for projects
|Quarterly project grants||$4,000||4 projects|
|Quarterly education grants||$1,000||2 education grants|
|Funds required 2008||$6,600|
|Available reserves||$2,900||Assumes we maintain $2,000 in account|
|Fundraising goal 2009||$4,700||Approx. 25% or $900 more than 2009|
This budget is for 6 projects instead of 3, so would be a great increase in impact. This seems to be in line with our steady growth in donations and our increasing capacity to administer the programs.