Foundation:Gentoo Foundation Finances FY2017

= Financial statements of Gentoo Foundation Inc., FY2017 =

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, with an estimated 80% of estimated transactions captured.
 * Automatic calculation of MACRS values is completed.
 * Infra assets are completed.
 * Non-Infra assets are outstanding (Computers:Dev, Banners)
 * In-Kind Donations has minimally started.
 * Donor Restrictions has NOT been started, but is expected to have minimal impact (see further remarks).

Remarks

 * See: [AC-NPO-2]

Remarks

 * See: [AC-NPO-2]

TODO: Statement of Functional Expenses

 * See: [AC-NPO-4]
 * TODO: reformat to columar style with TOTALS

Program: Foundation
USD 500.00 Expenses:Donations

Program: GSOC
USD 1,429.08 Expenses:GSOC:Mentor-Travel-Reimbursement

Program: General
USD 185.00 Expenses USD 35.00   Fees:Legal USD 150.00   Mail

USD 185.00

Program: Infra
USD 1,575.55 Expenses USD 1,472.95   Hosting USD 25.60     Amazon USD 1,242.34     Hetzner USD 205.01     OVH USD 102.60   Services

USD 1,575.55

Program: PR
USD 420.41 Expenses USD 408.53   Events USD 11.88   Fees:Legal

USD 420.41

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