Candle Site Accounting

[PJ]

Hi All,

 

Well, basically I've been aiming to keep Candle ...

 

1. up and running

2. advertisement free

3. community based non-profit site

 

Since I accepted a few donations, I felt it is only right for me to publish 100% open accounting on the site, while still keeping anonymous generous benefactors. So I created an Excel spreadsheet detailing this, any donations from members will be labeled as "Candle Member Donation".

 

You can view this by clicking the link below. Sorry, I haven't had a chance to convert it to HTML or anything, it's just a raw Excel spreadsheet.

 

Hmm, one of the constraints I had to factor when doing full history of expenses was trying to figure out how to account for the time I was footing all expenses for the site, since when I asked for donations, I was forward-looking. So I just put in as an initial donation from me.

 

Basically in a nutshell our burn rate is $14-$15 a month, and we have $200 surplus.

 

Umm, I hope I'm calculating all this correctly. Please note: I am a software engineer, so my exposure to accounting is limited to ACCO 101 in college (just don't ask what I majored in for my undergrad).

 

P.J.

 

Candle Worksheet

[PJ]

Hehe, okay ... in that case we need a treasurer or accountant.

 

I nominate Don.

[skrunks]

got a few chuckles outta that. I suppose you dont' have a balance sheet and a monthly P/L eh? shame shame! Its a good site, glad we're in the "black".

 

 

"may your path be lined with the scent of eternal spring"

[robhon]

I'd just like to know if the board set PJ up with a golden parachute...

[skrunks]

Wait a minute. He's jumping out of airplanes? Big price to pay for keeping the books!

"never jump out of a perfectly good aircraft"

[Stats]

I am a CPA and I was totally confused by the spreadsheet. Not being critical, just an an observation. It just did not "flow" for me

 

Anyway, if you need any help, let me know. Thanks for your efforts with the site, PJ. As I am in the middle of the I-129 process, this site has been invaluable to me.

 

If there is anything I can do to help the community, please let me know.

[PJ]

"Stats", as in statistics? Or am I just making assumptions?

 

At any rate, I would be very grateful if you could help me set up some sort of spreadsheet so I could keep open accounting. As I mentioned, I want to make sure I am keeping the site non-profit, so donations should not exceed expenditures, unless they are being stored for future expenses like the recurring monthly cost.

 

Is the data in the spreadsheet sufficient to create some sort of balance sheet?

 

Umm as you can see, I really do not know much about accounting. Maybe I could learn something from you. I always like to learn.

 

Incidentally, I majored in Economics in college. So I feel kinda bad that I don't know anything about these matters.

[skrunks]

Look out! you'll get a spreadsheet with assets, liabilities, par value of equities, long term debt, and all kinds of <figures>! ha! Personally, i was always glad to have a CFO do all that

[PJ]

Hi All,

 

We received another donation from a generous member, I have updated our site's accounting spreadsheet. Here's the link:

 

Updated Candle Accounting

 

Umm, I know everyone with financial knowledge and background says my spreadsheet isn't very clear, but it's the best I could do.

 

In a nutshell, we have sufficient funds to keep the site running as a non-profit, advertisement-free site for a *very* long time, and at this point we have the flexibility for initiatives like looking into the possibility of purchasing decent realtime chat software for Candle, since to be quite honest what I hacked and spliced together isn't pretty.

 

Thanks,

 

P.J.