2007 Annual Board Meeting Recap
The governing board of GlobalEyes convened on November 25, 2007 in Fremont, CA. Board members present: Veronica Ensign Scott Chacon Jessica Bylo Chacon Items discussed: o Review of 2007 financials (see appendix A) o 2008 budget and fundraising goals o Website restructuring o Expansion of school fundraising program o Permanent gift giving program Decisions made: o 2007 Financial review notes: ! Approximately 96% of the $6500 spent in 2007 went directly to programming (note this figure includes wire transfer fees) ! Overhead expense of wire transfer fees should be reduced – see 2008 budgetary notes below o 2008 budget and fundraising goals:
GlobalEyes Budget 2007 2007 actual Marketing Wire transfer fees Fundraising $150.00 $480.00 $100.00 $109.00 $300.00 $-
2008 $200.00 $320.00 $100.00
Fundraising Goals 2007 2008 actual (45% growth) Q1 Q2 Q3 Q4 $2,100.00 $1,520.00 $1,340.00 $2,419.00 $3,045.00 $2,204.00 $1,943.00 $3,507.55
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notes: governing board decreed that 95% of all expenditures must be directly applied to programming ! $40 per month ($480) budgeted for wire transfer fees in 2007; $300 actually spent. This expense will be reduced in 2008 by limiting wire transfers to 1 – 2 times per quarter, bringing the budgeted amount down to $160 – 320 for 2008. ! Fundraising goals set at 45% growth (note these figures do not consider grant funding) o Website will be reorganized according to three current initiatives in Kisumu: 1. support for CRM 2. feeding and development programs at area primary schools 3. community education and intervention activities o School fundraising activities will be expanded by a project spearheaded by Jessica Chacon and her American High School students. AHS will be given space on GlobalEyes website to organize and network with other schools. o The Holiday Gift Giving program will be made permanent in 2008. !
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Apendix A
2007 Applied Funds Summary month amount GE fundraiser Jan-07 $1,000.00 AHS Amnesty Club Mar-07 $1,000.00 MG #1 May-07 $586.44 AHS Swim Against Malaria Jun-07 $960.00 MG #2 Sep-07 $300.00 Julie Sina donation Oct-07 $500.00 MG #3, Pam A., CRM/TF Dec. Dec-07 $1,586.32 total $5,932.76 GlobalEyes 2007 Quarterly Balance Sheets Summary Revenue Private donations Micro-goals program Other fundraising Expenses Direct applied funds Wire fees Net marketing expenses Other expenses $7,205 $3,000 $1,105 $3,100 $6,519 $5,933 $300 $109 $177 fee $80.00 $20.00 $40.00 $40.00 $40.00 $40.00 $40.00 $300.00
Q1 I.
Revenue a. b. c. $1,080.00 $1,020.00 $2,100.00 a. b. c. total expenses net income $1,080.00 $169.00 $1,020.00 $2,269.00 $(169.00)
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GlobalEyes December 2006 fundraiser American High School Amnesty Club fundraising
II.
gross profit Expenses
Transfer to Tropical Focus for Obede Feeding Program ($80 wire fee) Marketing - Logo development Anti-malaria project transfer to Tropical Focus ($20 wire fee)
Q2 I.
Revenue a. b. $520.00 $1,000.00
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Micro-goal #1: Children Rescue Mission water tank American High School Swim Against Malaria Fundraiser
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c. II. gross profit Expenses a. b. c. d. total expenses net income Q3 I. $1,520.00 $586.44 $1,000.00 $37.47 $140.00 $1,763.91 $(243.91)
Micro-goal #1 transfer to Tropical Focus ($40 wire fee) Anti-malaria project transfer to Tropical Focus ($40 wire fee) Digital Camera for Tropical Focus cable and batteries DHL shipment + fees digital camera to Tropical Focus
Revenue a. b. c. $340.00 $1,000.00 $1,340.00 a. b. c. total expenses net income $340.00
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Micro-goal #2: Children Rescue Mission domestic needs Private donation
II.
gross profit Expenses
Micro-goal #2 transfer to Tropical Focus ($40 wire fee)
$340.00 $1,000.00
Q4 I.
Revenue a. b. c. d. gross profit Expenses a. b. c. total expenses net income $1,000.00 $174.31 $1,000.00 $244.88 $2,419.19 $540.00 $114.31 $1,586.32 $2,240.63 $178.56
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Private donation Private donation for marketing costs Private donation Micro-goal #3: Half cost of Dago Thim School Latrine construction
II.
Transfer to Tropical Focus for CRM educational needs ($40 wire fee) Marketing - business cards Transfer to Tropical Focus for Dago Thim Latrines ($40 wire fee)
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