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Proposed Apereo Inc. Transition Financial Plan July through December 2012 Tables excerpt only
Jim Farmer 8 May 2012
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Notes: These tables were prepared for Proposed Apereo Inc. Transition Financial Plan: July through December 2012, 8 May 2012. The tables were used as the source of PNG files for the graphics in the document. The tables or graphics are available from the PowerPoint file itself in several different formats.
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Table 1 – Reported 2011 Reported Income and 2012 Budgeted Income
Jasig Sakai IRS 990 Budget 2011 2012 Income Membership dues and assessments 135,500 635,498 602,888 Conference and seminar fees 58,550 424,695 230,730 Investment income 449 Contributions and grants 16,350 12,599 Restricted revenue (OAE) 59,577 Reimbursed expenses 30,423 Other income 1,324 Total Income 210,849 573,243 957,553 Non-conference income 152,299 148,548 Table 1 – Reported 2011 Reported Income and 2012 Budgeted Income
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Table 2 – Income Omitting the Conference and Used for Analysis
Jasig Sakai Combined IRS 990 Budget 2011 2012 Income Membership dues and assessments 135,500 635,498 602,888 738,388 Investment income 449 Contributions and grants 16,350 12,599 Restricted revenue (OAE) 59,577 Reimbursed expenses 30,423 Other income 1,324 Total Income 152,299 148,548 726,823 751,436 Table 2 – Income Omitting the Conference and Used for Analysis
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Table 3 – Reported 2011 Expenses and Jasig and Sakai’s 2012 Budget
Combined IRS 990 Budget 2011 2012 Expenses Salaries and other compensation 94,847 79,200 390,947 296,000 375,200 Payroll taxes 9,197 10,740 Legal 828 Accounting 1,300 30,168 Communications, advertising and promotion 3,637 3,638 25,188 Travel 8,766 15,000 115,692 134,200 149,200 Continuing education 2,000 1,862 2,945 4,945 Conference support contribution 1,925 Insurance 804 1,250 2,574 Equipment & software 17,567 40,677 27,570 45,137 Credit card and other fees 1,100 10,743 Office expenses 9,600 13,787 18,023 27,623 Other expenses 16,999 500 615 Total non-conference expenses 135,550 141,895 635,005 480,738 622,633 Table 3 – Reported 2011 Expenses and Jasig and Sakai’s 2012 Budget
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Table 4 – Summary of Income, Expenses and Net Income
Jasig Sakai Combined IRS 990 Budget 2011 2012 Total Income 152,549 154,007 651,418 500,773 654,780 Total non-conference expenses 135,550 141,895 635,005 480,738 622,633 Total conference expenses 65,784 472,214 179,753 Total expenses 201,334 614,109 814,758 1,094,847 Net income 9,515 (40,866) 142,794 122,150 81,284 Table 4 – Summary of Income, Expenses and Net Income
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Table 5 - Conference Income and Expenses
Conference Net Contribution for Calendar Year 2011 Jasig Sakai Combined Income 58,550 230,730 289,280 Expenses 65,784 179,753 245,537 Net contribution to net income (7,234) 50,977 43,743 Conference Net Contribution for Calendar Year 2012 424,695 472,214 (47,519) Table 5 - Conference Income and Expenses
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Table 6 – Cost Savings from Consolidated Administration
Recommended Budget Changes for July-December 2011 Increase Decrease 1 Full-time position, taxes from $5,370 6-months to $5,046 224 2 Accounting, Jasig absorbed by Sakai 650 3 Legal expenses, omitted from Jasig and Sakai 1,200 4 Communications, advertising and promotion 1,819 5 Consolidation of Jasig insurance 402 Total 3,095 Net decrease 1,895 Table 6 – Cost Savings from Consolidated Administration
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Table 7 – Suggested Budget Savings
Jasig Sakai Combined Budget Apereo Annual 6-month Savings Income 573,243 602,888 588,066 Expenditures Salaries and other compensation 79,200 296,000 187,600 Payroll taxes 10,740 5,370 (224) 5,146 Legal 1,200 Accounting 1,300 650 (650) Communications, advertising and promotion 3,638 1,819 (1,819) Travel 15,000 134,200 74,600 Continuing education 2,000 2,945 2,473 Conference support contribution 1,000 Insurance 1,250 625 (402) 223 Equipment & software 17,567 27,570 22,569 Credit card processing fees 1,100 550 Office expenses 9,600 18,023 13,812 Other expenses 500 250 Conference expenses 472,214 236,107 Total expenses or savings 614,109 480,738 547,424 (1,895) 545,529 Anticipated coference cost savings (47,519) Total savings (49,414) Net income 6,653 122,150 88,161 1,895 42,537 Expected annual contribution to net income 130,698 Table 7 – Suggested Budget Savings
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Table 8 – The Transition Budget for July through December 2012
Apereo Transition 2012 Income Membership dues and assessments 369,194 Investment income Contributions and grants 6,300 Other income 225 Total Income 375,718 Expenditures Salaries and other compensation 187,600 Payroll taxes 5,146 Legal 1,200 Accounting Communications, advertising and promotion Travel 74,600 Continuing education 2,473 Conference support contribution 1,000 Insurance 223 Equipment & software 22,569 Credit card processing fees 550 Office expenses 13,812 Other expenses 250 Total Expenses 309,422 Net income 66,297 Adjustment for conference cost savings (23,760) Adjusted net income 42,537 Table 8 – The Transition Budget for July through December 2012
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Table 9 – Annual Net Income
Jasig, Sakai and Apereo Budget 2012 Six months Annual Jan - Jun Jul-Dec Total Income 588,066 1,176,131 Total non-conference expenses 311,317 622,633 Less cost savings (1,895) Total Conference expenses 236,107 472,214 (47,519) Total expenses 499,905 545,529 1,094,847 Net income 88,162 42,538 130,699 Minimum net income 40,643 81,285 Jasig Budget 2012 net income (40,866) Sakai Budget 2012 net income 122,150 81,284 Table 9 – Annual Net Income
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Table 12 - Financial Strength
Jasig Sakai Apereo Assets, December 31, 2011 221,941 252,160 474,101 Combined six month net income 88,161 Asserts, June 30, 2012 562,262 Apereo six month net income 42,537 Apereo assets end of year 604,799 Transition Plan, expenses per month 51,570 Transition Plan, number of months 10.9 Assets, June 30, 2012, no cost savings 514,743 Tranision Plan, number of months 10.0 Table 12 - Financial Strength
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Prepared by Jim Farmer Revised 8 May 2012
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