In 2017, after becoming incorporated on May 15, the Boundless Love Project did the following:
• In partnership with the District 196 Community Education program, we taught one five-week meditation training, and four half-day Intro to Meditation workshops.
• We held 20 free weekly group meditations starting on August 1st. We did this in partnership with the Dakota County Library.
• We created the website, BoundlessLoveProject.org which freely offers our guided meditations, mindfulness trainings, and other resources to help people be more peaceful, loving, and joyful.
• We started an email newsletter to inspire our supporters’ mindfulness practices and inform them of new resources as they became available on our website.
Expenses by Category
Income and Expense Report
Total income: $379.21
Programs: $329.40 (67%)
Administrative: $162.59 (33%)
Fundraising: $0.00 (0%)
Total expenses: $491.99 (100%)
Total Income: $379.21
Total Expense: $491.99
Net Balance: ($112.78)
Cash Flow Statement
Funds at beginning of year: $0.00
Net funds during 2017: ($112.78)
Interest-free loan: $3,000.00
Cash at end of year: $2,887.22
Notes on Finances:
Our preferred method of operation is via a gift economy: our Mindfulness Teacher Freeman freely offers the teachings and trainings, and those inspired to give may give. When donations come in ear-marked for Freeman, they are split 50% to him and 50% to Boundless Love Project. The stipend paid to Freeman in 2017 was $135. Given that these donations are offered in thanks for the teaching he does, we designated 100% of his stipend towards programmatic activities.
Because the total money handled was low, our administrative expense percentage of 33% is higher than ideal. Administrative costs included the articles of incorporation filing fees ($70), post office box rental ($76), and fees related to opening a business checking account ($5).
Zero dollars were invested into fundraising, and that seems like the perfect amount to invest into it this year. Haha!
The interest-free loan was provided by one of our officers to help with cash flow issues as we get started.