Surfrider Foundation Florida Conference Chapter Network Finances Ryan Johnson, April 16 th, 2011

Welcome to Surfrider Accounting …

*Chapter Financial Reporting Procedures *Square: Accepting Donations and Payments Remotely for Fundraising & Events *Dropbox: Secure File Sync Service for Financial Records *2010 Chapter Network Cash Assets & Florida TOPICS * Annual Audits & Financial Recordkeeping

CHAPTER FINANCIAL REPORTING PROCEDURES *Deadlines for Quarterly Financial Reports: Financial reports are due to the Surfrider Foundation Headquarters on a quarterly basis. Deadlines for quarterly financial reports are five weeks from quarter ending days (quarters end on March 31st, June 30th, September 30th, and December 31st). Quarterly financial reports are due to the Surfrider Foundation on February 7th, May 7th, August 7th, and November 7th. *Chapter Financial Reports are submitted in Excel to the Accounting Department. The reports are in a standardized format, available on ChapterNet and the Chapter’s financial folder in Dropbox.

DROPBOX The Surfrider Foundation is now using a secure, online file sync service for the exchange of all chapter financial recordkeeping and reporting. Finances are shared between Surfrider HQ and the Chapters, and vice versa. Some of the uses and benefits of using Dropbox include the following … *Financial reporting entries and updates are automatically saved and archived for both Surfrider HQ and the Chapter when closing out of a file *Improved Financial Transparency and Accurate Recordkeeping *Financial Tools & Resources for the Chapter *The Chapter’s Dropbox financial folder includes templates for expense reimbursement reports, forms for contractor agreements, training resources, the chapter’s budgets and campaign plans, and other chapter financial information. It is similar to ChapterNet for some financial templates and other resources, but different by also being access controlled for chapter accounting purposes

INTRODUCING DROPBOX…

SQUARE The Surfrider Foundation has been looking for a convenient and inexpensive solution for chapters to accept contributions and payments via credit card while fundraising and tabling at events. After researching different products, testing the back end security, and piloting different devices, Surfrider HQ is now introducing Square to the Chapter Network. Some of the benefits and features of Square include the following… *No monthly service fee for use or inactivity *Point of sale transactions are secure, and can be done anywhere the chapter fundraises or has an event *Fees per transaction is a flat 2.75%, lower than typical merchant services. *Square is compatible with any iPad, iPhone or Android Smartphone, and is accessed from an app For internal controls, the Surfrider Accounting Dept. has full oversight of transactions, use and access *Funds are directly deposited to the Chapter’s bank account, and the donor / purchaser receives an receipt

Accepting Credit Cards for Fundraising and Merchandise Sold SQUARE

YEAR-END 2010 TOTAL CASH ASSETS & FLORIDA 2010 Total Chapter Network Cash Assets (Unaudited) 2010 Florida Cash Assets (Unaudited) Cash$1,123,823 Revenues $1,208,637 Expenses$1,205,237 Cash$60,608 Revenues$82,792 Expenses$60,610 *From year to year, there is an overall trend of chapters growing in level of financial activity, grassroots fundraising and direct giving as related to local support and local campaigns / programs

ANNUAL AUDITS & FINANCIAL RECORDKEEPING *As a non-profit organization, the Surfrider Foundation is required to be audited annually based on reporting requirements determined by the IRS. Attestation of the Surfrider Foundation includes the Chapter Network *In audits, supporting documentation is requested by the Foundation’s independent auditing firm. The following supporting documentation applies for audit preparation and audits of the Surfrider Foundation’s Chapter Network: (a) Cancelled checks (b) Receipts, including online receipts (c) Invoices, packing slips (d) Documentation of any chapter expense more than $50

Ryan Johnson Staff Accountant