User:Milton Beychok/Sandbox
Financial Report as of March 15, 2011
In late October, 2010, when the Management Council (MC) came into being and began getting organized, it was found that there were no longer any funds available to us for paying the cost of hosting our services. That situation was explained in the announcement made in this forum posting on November 12, 2010. Therefore, the MC began a donation drive in early November. Our financial history from November 2010 to date is shown in the table below:
| Month | Donations during month, $ |
Total donations at month end, $ |
Monthly hosting cost, $ |
Paid by | Funds on hand at month end, $ |
|---|---|---|---|---|---|
| November 2010 | 2,776.09 | 2,776.09 | 709.85 | Tides Foundation(a) | 2,776.09 |
| December 2010 | 934.33 | 3,710.42 | 559.85(b) | Donation funds | 3,150.57 |
| January 2011 | 101.55 | 3,811.97 | 611.45(c) | Donation funds | 2,640.67 |
| February 2011 | 48.41 | 3,860.38 | 319.90(d) | Donation funds | 2,369.18 |
| March 2011 | 42.89 | 3,903.27 | 319.90 | Donation funds | 2,092.17 |
| April 2011 | (e) | (e) | 319.90 | Donation funds | 1,772.27 |
| Notes: (a) The Tide Foundation paid all costs while Larry Sanger retained control of Citizendium. (b) Lower cost negotiated by Dan Nessett. (c) Includes $51.60 additional cost for time spent downloading Citizendium to new 3-server configuration. (d) Further cost lowering for 3-server configuration negotiated by Dan Nessett. (e) Not known at this time. Will update at end of April 2011. | |||||
As shown in the table above, our total donations to date amount to $3,903.27, of which we have now spent $2,131.00 for having our servers hosted through April 22, 2011. Our current remaining funds amount to $1,772.27.
Since the current monthly cost for hosting our servers is $319.90, our current funds are sufficient to last us until September 22, 2011.
The MC is making every effort to find some university, or philanthropist or charitable non-profit organization to help us with free server facilities or with additional funds. However, we have had no success to date. It appears that, after September 22nd, we must continue to raise our own funds by donations.
After September 22nd, what we will urgently need is for a small number of our members to pledge monthly donations ranging from $11 per month to $17 per month, as shown just below:
- 20 members pledging $17.00 per month would raise $340.00 (which would be $323 after deducting PayPal's fee, sufficient for hosting cost) or
- 25 members pledging $13.50 per month would raise $337.50 (which would be $320 after deducting PayPal's fee, sufficient for hosting cost) or
- 30 members pledging $11.25 per month would raise $337.50 (which would be $320 after deducting PayPal's fee, sufficient for hosting cost)