This post looks at the state of finances for the SQL Saturday corporation. When I started this corporation, I solicated Redgate for help, and I thank them for allowing me to use some of their legal representation for the initial work.
Current Balance Sheet
As of Nov 1, 2022, here are our finances.
- Domains : $36 (3 domains)
- Cash/AP: $0
- Legal: $0, thanks to the waiving of a retainer by our lawyers.
I submitted a request to Redgate for USD$5,000 as an initial grant to cover expenses for a few years. My guess initially was that we might require US$1500 a year to handle various expenses.
Redgate sent me the money, and I reimbursed myself for the startup costs outlined below.
Total spent: $
To start a corporation in the US, an EIN is required. I submitted an application myself to the US IRS. This cost us USD$250.
To register the corporation in Texas,
The submission for the non-profit, 501.c.3 status also cost USD$275, which I covered.
To open a bank account, I needed a USD $100 initial deposit, which I provided.
All of these expenses were paid back to Steve Jones from the corporation after the initial grant was received.
Expenses in 2022
I have considered a number of services, but ultimately I’ve used these items to reduce costs:
- Google workspaces (email): $0
- Google domains: $12/domain/year
- Github (web hosting, blog, discussions, document sharing): $0
- Zoom: $78
- TechSoupt: $0
These services were free or provided at a discount thanks to our 501.c.3 status.
I have filed forms for taxes in Texas and with the US IRS myself rather than use a letter. With revenues below USD$50,000, this is a simple process. I see no need to use a lawyer for now.
I have decided not to use Docusign for now when contracting with local organizers. First, I don’t think it’s a big deal, and second, I don’t really think the $150/yr is worth it for us. Print, sign, snap a picture and email works fine.
To date, SQL Saturday only has one global partner (ish) in Microsoft. I have been trying to get a few others set up, but staff turnover has been a bit challenging with other big vendors.
I have registered SQL Saturday as an approved vendor (non profit) with Microsoft, and I submit Statements of Work and Invoices to them for sponsoring events. Here are the inflows and outflows for 2022:
- Monies received from Microsoft: USD$12,000
- Monies paid to local organizers: USD$12,000
- SQL Saturday feeds - $0
The previous incarnation of SQL Saturday took substanial “handling” fees for managing sponsorship. I’m proud we are not doing that.
We’re running at a low rate right now, and I hope to continue that in the future. If you have questions, please reach out to me at email@example.com
One quick request. Remind others to register here: http://eepurl.com/hwVBKn. They can join our mailing list and find out about how SQL Saturday is growing and adapting to the new world.