Finances

We need to make sure all of our finances are in order. As such, we have scheduled a meeting with Lynne Chaimowitz

She requests

1. Existing financial records
   • 2012 - We can provide access to Quickbooks Online
   • 2011 - Somewhere we have a basic breakdown of income, but not expenses
   • 2010 - Unknown
   • 2009 - Unknown
     
     
2. Strategic documents that would be helpful in defining how we set up your accounting records
   • Income
     • Memberships
     • Classes / Workshops
     • Donations
     • Time on PCs (Starting June 1st)
   • Expenses
     • Rent
     • Utilities
     • Physical Space Improvements
     • Staff (Independent Contractors at the moment)
     • Tools
   • Fiscal Sponsorship
     • Provided by The School Factory
     • One donation of $1,000 in 2011? The School Factory takes 10%, we received $900.
       
       
3. A list of skill sets and responsibilities that you and/or volunteers are in charge of
   • Jenn & Josh: Currently assign / categorize items into Quickbooks Online for General AHA Income
     • No accounting background.
   • Jess: currently updated Quickbooks Pro 2010 for Time on PC Income (Digital Ops)
     • No accounting background, but has been handling the Ops data entry for a few years now.

Our questions

1. What forms should we be submitting to the:
   • City
   • State
   • Federal
     
     
2. What payments should we be submitting to the:
   • City
   • State
   • Federal
     
     
3. Should we have separate Bank Accounts for Gaming Center vs. Maker Income?
   
   
4. Does out current QB Online process seem all right?
5. What exemptions do we qualify for as a domestic nonprofit?
6. How will filing requirements change if we pursue 501c3-ship?
7. What standardized resource can we refer to in the future?

Information:

• State of Michigan Articles of Incorporation

2011 P&L - Basic Breakdown

Income	$20247.94
Expense	$17465.62
	
Inc: Membrships	$7016.28  Income from Monthly Dues
Inc: BF2011    	$9395     Income from Classes taught by AHA outside of All Hands Active
Inc: Donations 	$900      Nine Tuna Donation ($1,000, School Factory takes 10%)
Inc: Unknown	$2936.66  A lot of this is probably from other classes taught at AHA, unaccounted for membership income, possibly indiegogo ($610) fundraising etc.)

Inc: SubTotal	$20247.94	
	

Exp: BF 2011	$7500     Bright Futures Classes (Independent Contractor Payouts)
Exp: Rent	$3150
Exp: Util	$1750
Exp: Unknown 2	$1410     (I believe these are from checks)
Exp: Improving  $1054.98  General Lowes, Meijer, Stadium Hardware purchases
Exp: Unknown	$652.34   Ask Josh to see AHA 2011 Google Doc for better breakdown)
Exp: Electronic	$496.61   Electronics - Sparkfun orders, Jameco, etc.
Exp: Insurance	$330.5
Exp: Donation	$258      GEMSI for Bilal
Exp: Web Host   $240      Slicehost
Exp: Food	$227.2    Food for volunteer events
Exp: Marketing	$192.85   Kolossos, Kinkos, etc.
Exp: Subscrip.  $180.45   Intuit, Amazon Prime, Events Manager for Web site
Exp: Gas	$22.39
	
Exp SubTotal	$17465.32

2012 P&L - Basic Breakdown

Income

  Classes	237.27
     AHA Classes Income....... 4.942.52
     How to - 3D Print........ 71.30
     How to - Laser........... 47.33
     How to Arduino........... 104.09
     How to CNC............... 28.52
     Learn to Solder.......... 18.82
  Total Classes	$5.449.85
  Coffee Donations............ 5.00
  Laser Cutter Donations...... 13.00
  Membership Dues............. 2.641.46
  Misc Product Sales Income... 5.00
  Need to split............... 895.00
  Uncategorized Income........ 154.41

Total Income $9.163.72 Gross Profit $9.163.72

Expenses

  Advertising................. 93.98
  AHA Class Contracting....... 100.00
  AHA Class Supplies.......... 24.33
  Board Meeting Expenditures.. 76.73
  Bright Futures Employees.... 2.207.91
  Bright Futures Supplies..... 47.83
  Bright Futures Transportation62.40
  Dues & Subscriptions........  29.95
  Food........................ 31.48
  Insurance................... 354.50
  LASER Budget - Rental....... 151.67
  Laser Budget - Repairs...... 179.48
  Maintenance................. 32.00
  Membership Expense.......... 18.29
  Rent or Lease............... 3.000.00
  Shogun Budget............... 1.284.51
  Shogun Contractor........... 400.00
  Treasurer Spending.......... 17.95
  Uncategorized Expense....... 228.54
  Utilities................... 1.442.16

Total Expenses $9.783.71

Net Operating Income -$619.99

Net Income -$619.99