(If you'd like to become a financial supporter in 2008, you can find donation/membership information here.)
Welcome to the end of our first fiscal year!
The Organization for Transformative Works completed its first year of operation on December 31, 2007 and the Financial Committee is please to report that we ended our first fiscal year in the black, with a solid financial foundation in place to cover anticipated new and ongoing expenses into the coming year!
Almost 60 individual donors contributed a total of over $7,300 to the organization during our first fiscal year, one-third of those donations in amounts of $25 or less. Contributions came from the United States, the United Kingdom, Canada, Australia, New Zealand, Austria, and Germany. In addition, in-kind donations (e.g., donated payments for the OTW domains, incorporation fee) totaled over $800. Funds were raised through various sources, including the Halloween fundraiser held in October 2007. Contributions showed a dramatic increase following the launch of the OTW web site (www.transformativeworks.org), which brought in contributions of over $800 between the launch in mid-December and the end of the year.
Although the OTW maintains a strict confidentiality policy regarding its donors which prevents us from thanking each of you publicly, we want to extend our gratitude to you for your generous support during these early months. Or, in fandom speak – \o/!!
The OTW’s expenses for 2007, which totaled approximately $1,600, were primarily related to startup costs associated with incorporation and launching the organization. Fees were paid to Basecamp for project management software, and to Rimhosting and Browsercam for use in the archive development. Other miscellaneous expenses included fees for a post office box and Paypal.
Expenses are expected to increase in 2008: the OTW will purchase general and "directors and officers" liability insurance in early 2008 (these are standard insurance policies held by nonprofit corporations); in addition, as our projects come online there will be expenses related to hosting our server, and possibly the purchase of a dedicated server, if funds permit.
Again, we thank you for your generous support of the OTW during our first year and we hope you will continue to support our efforts into the new year!
Susan Gibel, Treasurer and Chair, Financial Committee
Organization for Transformative Works Annual Report 2007