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 2008
actual
Marketing $150.00 $109.00 $200.00
Wire transfer fees $480.00 $300.00 $320.00
Fundraising $100.00 $- $100.00
Fundraising Goals
2007 2008
actual (45% growth)
Q1 $2,100.00 $3,045.00
Q2 $1,520.00 $2,204.00
Q3 $1,340.00 $1,943.00
Q4 $2,419.00 $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 fee
GE fundraiser Jan-07 $1,000.00 $80.00
AHS Amnesty Club Mar-07 $1,000.00 $20.00
MG #1 May-07 $586.44 $40.00
AHS Swim Against Malaria Jun-07 $960.00 $40.00
MG #2 Sep-07 $300.00 $40.00
Julie Sina donation Oct-07 $500.00 $40.00
MG #3, Pam A., CRM/TF Dec. Dec-07 $1,586.32 $40.00
total $5,932.76 $300.00
GlobalEyes 2007 Quarterly Balance Sheets
Summary
Revenue $7,205
Private donations $3,000
Micro-goals program $1,105
Other fundraising $3,100
Expenses $6,519
Direct applied funds $5,933
Wire fees $300
Net marketing expenses $109
Other expenses $177
Q1
I. Revenue comments
a. $1,080.00 GlobalEyes December 2006 fundraiser
b. $1,020.00 American High School Amnesty Club fundraising
c.
gross profit $2,100.00
II. Expenses
Transfer to Tropical Focus for Obede Feeding Program
a. $1,080.00 ($80 wire fee)
b. $169.00 Marketing - Logo development
c. $1,020.00 Anti-malaria project transfer to Tropical Focus ($20 wire fee)
total expenses $2,269.00
net income $(169.00)
Q2
I. Revenue comments
a. $520.00 Micro-goal #1: Children Rescue Mission water tank
b. $1,000.00 American High School Swim Against Malaria Fundraiser
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c.
gross profit $1,520.00
II. Expenses
a. $586.44 Micro-goal #1 transfer to Tropical Focus ($40 wire fee)
b. $1,000.00 Anti-malaria project transfer to Tropical Focus ($40 wire fee)
c. $37.47 Digital Camera for Tropical Focus cable and batteries
d. $140.00 DHL shipment + fees digital camera to Tropical Focus
total expenses $1,763.91
net income $(243.91)
Q3
I. Revenue comments
a. $340.00 Micro-goal #2: Children Rescue Mission domestic needs
b. $1,000.00 Private donation
c.
gross profit $1,340.00
II. Expenses
a. $340.00 Micro-goal #2 transfer to Tropical Focus ($40 wire fee)
b.
c.
total expenses $340.00
net income $1,000.00
Q4
I. Revenue comments
a. $1,000.00 Private donation
b. $174.31 Private donation for marketing costs
c. $1,000.00 Private donation
Micro-goal #3: Half cost of Dago Thim School Latrine
d. $244.88 construction
gross profit $2,419.19
II. Expenses
Transfer to Tropical Focus for CRM educational needs ($40
a. $540.00 wire fee)
b. $114.31 Marketing - business cards
Transfer to Tropical Focus for Dago Thim Latrines ($40 wire
c. $1,586.32 fee)
total expenses $2,240.63
net income $178.56
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