Foundation:Gentoo Foundation Finances FY2005

Financial statements of Gentoo Foundation Inc.

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================================= Period: 2004/5 Period-Start: 2004/07/01 Period-Ending: 2005/06/30 Prepared-by: robbat2 Disclaimers: - The following statements have not been reviewed by a CPA - The following statements represent a work-in-progress, with some known concerns. - Known Concerns: -- Non-USD transactions are known to include balance errors. -- Incomplete historical capture due to lack of records -- Data capture: --- Depreciation expenses have been started, but less than 20% of estimated transations have been captured. --- In-Kind Donations has minimally started. --- Donor Restrictions has NOT been started, but is expected to have minimal impact (see further remarks).

Statement of financial position ---       USD 9,385.30  Assets USD 2,003.19   Bank:NetBank USD 351.46   Capital:Computers:Dev USD 7,030.65   Paypal USD -9,385.30 Equity:RetainedEarnings USD 489.57   Expenses USD -9,874.87   Income

0 Remarks: - See: [AC-NPO-2]

Statement of Activities ---         USD 489.57  Expenses USD 344.22   Fees:Paypal USD 145.35   Services USD -9,874.87 Income USD -1,500.00   Commission USD -8,374.87   Donations:Cash

USD -9,385.30 Remarks: - See: [AC-NPO-2]

TODO: Statement of Functional Expenses -- - See: [AC-NPO-4] - TODO: reformat to columar style with TOTALS Program: General USD 145.35 Expenses:Services

TODO: Statement of Cash Flows - - Operating Activities - Investing Activities - Financing Activities

TODO: Notes to the Financial Statements --- - (TODO FASB 2016-14 requirements)

Further Remarks:

- FASB 2016-14 MUST be applied for all fiscal years starting after 2017/12/15, but the standard permits earlier application. -- The treasurer has elected to apply the changes to ALL financial statements, as none of them have been formally audited at this time. - Donor Restrictions -- The earlier boards did NOT include any formal means for donors to restrict cash donations. -- Some in-kind donations MAY have usage restrictions (e.g. bandwidth  limitations, disclosure limitations), but are not expected to impact the financial statements at this time. This has not yet been confirmed with a  CPA that specializes in NPO accounting. - FASB 2016-14 changed the classes of Net Assets: -- Before: --- Permanantly restricted Net Assets --- Temporarily restricted Net Assets --- Unrestricted Net Assets -- After: --- Net Assets with Donor Restrictions --- Net Assets without Donor Restrictions

References: --- [FASB2016-14] UPDATE 2016-14—NOT-FOR-PROFIT ENTITIES (TOPIC 958): PRESENTATION OF FINANCIAL STATEMENTS OF NOT-FOR-PROFIT ENTITIES http://fasb.org/cs/ContentServer?c=Document_C&cid=1176168381847&d=&pagename=FASB%2FDocument_C%2FDocumentPage

[AC-NPO-1] Nonprofit Accounting Explaination (1): Introduction to Nonprofit Accounting https://www.accountingcoach.com/nonprofit-accounting/explanation/1 [AC-NPO-2] Nonprofit Accounting Explaination (2): Financial Statements of Nonprofits https://www.accountingcoach.com/nonprofit-accounting/explanation/2 [AC-NPO-4] Nonprofit Accounting Explaination (4). https://www.accountingcoach.com/nonprofit-accounting/explanation/4