Foundation:Gentoo Foundation Finances FY2020

Financial statements of Gentoo Foundation Inc.

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================================= Period: 2019/20 Period-Start: 2019/07/01 Period-Ending: 2020/06/30 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: -- 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 191,886.40  Assets USD -10,162.00   Accumulated-Depreciation:Computers:Infra USD 109,029.70   Bank USD 100,472.69     CapOne:Saving8438 USD 8,557.01     CapOneMoneyMarket USD 47,496.85   Capital USD 689.94     Banners USD 46,806.91     Computers USD 4,034.31       Dev USD 42,772.60       Infra USD 35,378.27   Clearing USD 35,268.10     CapOneMoneyMarket-CapOne:Saving8438 USD 110.16     Paypal-Exchange USD 10,143.59   Paypal USD -202,009.68 Equity:RetainedEarnings USD 42,178.31   Expenses USD -244,187.99   Income

USD -10,123.28 Remarks: - See: [AC-NPO-2]

Statement of Activities --- Remarks: - See: [AC-NPO-2]

TODO: Statement of Functional Expenses -- - See: [AC-NPO-4] - NPO-Ledger: All expenses MUST be tagged with a Program -- TODO: this is not yet enforced - RAW Program Tag data, 2019/07/01 to 2020/07/01

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