X.org Treasurer's Report ~ 2017
| BEGINNING BALANCE (Jan 1, 2017) | $33,444.39 | |
|---|---|---|
| … SPI Account | $33,444.39 | |
| Income | ||
| … Donations | $6,189.00 | |
| … Sponsorship:General | $1,000.00 | |
| … TOTAL INCOME: | $7,189.00 | |
| Expenses | ||
| … Banking Fees | $-38.78 | |
| … Corporate | $-113.75 | |
| … XDC Travel Sponsorship | $-1,668.86 | |
| … SPI 5% of Income | $-359.45 | |
| … TOTAL EXPENSES: | $-2,180.84 | |
| ENDING BALANCE (Dec 31, 2017) | $38,452.55 | |
| … SPI Account | $38,452.55 | |
Treasurer Report for Fiscal Year 2017
The bylaws[1] of the X.org Foundation provide a duty of the Treasurer to produce an annual financial report, approved by the Board, within 60 days of the end of the fiscal year. The fiscal year is defined as ending on the 31st day of December in each year.
X.org is a member of Software in the Public Interest (SPI), which handles most aspects of the Foundation's financial management. SPI provided monthly Draft Treasurer's Reports for FY2017 on April 5th, 2018.
Financial Records
The X.org Board maintains financial books using the Ledger-CLI program, which is used for its own record keeping and to shadow SPI's data. The tabulated finances above are directly generated from X.org's Ledger, and thus is an accurate reflection of the state of our own books.
Fundraising
Around a dozen individual donations were received through SPI's Click&Pledge service. An unknown number were also received through SPI's PayPal payment service (we've requested transaction details from SPI for our own verification purposes, but don't expect this to change the overall totals).
With the SPI financial processing infrastructure now well established, the X.org Board returned to looking at corporate sponsorship as an income source. Sponsorship level policies were adopted to provide for both General sponsorship and Event sponsorship, with funds from the latter being earmarked specifically for the annual XDC event. One general sponsor was signed up during FY 2017. A number of Event sponsors were contacted and committed to providing funding totalling over $25,000 during the 2018 Fiscal Year.
Funded Activities
The primary expenditures for the project in 2017 was the X Developers' Conference (XDC) held at Google HQ. The X.org Foundation sponsored travel expenses for two attendees: One a presenter at the event, and another a regular press reporter.
Several expenses were also incurred in finalizing the dissolution of the old X.org Foundation corporate registration with the State of Delaware, along with associated membership fees that X.org paid on an annual basis. The memberships are now terminated and the fees will no longer recur.
Asset Transfer
Prior to joining SPI, the X.org Foundation maintained its financial assets in a Bank of America account. The majority of the assets in the amount of $33,000 had been transferred during the 2016 fiscal year, and confirmed as received by SPI. A transaction for the remainder, in the amount of $391.53, was made in March of 2017, but has not yet been confirmed as received by SPI.
References
1: https://www.x.org/wiki/BylawReview/ProposedBylawsSPI2016.pdf