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commit 51018e6290d9b95b0fac99ba86ab993e2c4d916a
Author: Werner Koch <wk at gnupg.org>
Date: Thu Apr 21 14:52:35 2016 +0200
blog: Add financial Results for 2015
diff --git a/misc/blog.gnupg.org/20160421-financial-results-2015.org b/misc/blog.gnupg.org/20160421-financial-results-2015.org
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+# Financial Results for 2015
+#+STARTUP: showall
+#+AUTHOR: Werner
+#+DATE: April 21, 2016
+#+Keywords:
+
+** Financial Results for 2015
+
+Having prepared the annual accounts for g10^code GmbH, the legal
+entity employing some of the GnuPG hackers, I can now share a financial
+report. Please read on if you are interested in how well the donation
+campaign last year worked and how we spend your money.
+
+*** Balance Sheet as of 2015-12-31
+
+ Let us start by looking at the balance sheet, which describes
+ our financial status. The following table shows the actual
+ [[file:data/g10code-bilanz-2015-pub.pdf][balance sheet]] with a few accounts pooled up. Note that for
+ display purposes all values have been rounded to a full Euro, and
+ thus there are minor mismatches in the Sums.
+
+ | | <r> | <r> | <r> | <r> |
+ | | Asset | (2014) | Liability | (2014) |
+ |---------------------------+--------+---------+-----------+---------|
+ | Tangible assets | 3880 | (791) | | |
+ | Stock of goods | 0 | (122) | | |
+ | Cash balance | 360 | (469) | | |
+ | Bank balance KSD | 207453 | (34522) | | |
+ | PayPal and others balance | 3842 | (711) | | |
+ | Accounts receivable | 4774 | (0) | | |
+ | Accounts receivable other | 497 | (18408) | | |
+ | Common capital stock | | | 25000 | (25000) |
+ | Loss carried forward | 0 | (23019) | | |
+ | Profit carried forward | | | 11338 | (0) |
+ | Net profit | | | 115350 | (34357) |
+ | Shareholder loans | | | 0 | (10000) |
+ | Accounts payable | | | 0 | (3510) |
+ | Accounts payable other | | | 27974 | (0) |
+ | GnuPG development fund | | | 72 | (72) |
+ | Provision for taxes | | | 41070 | (5103) |
+ |---------------------------+--------+---------+-----------+---------|
+ | Sums | 220804 | (78042) | (220804) | (78042) |
+
+
+ The /Bank balance KSD/ is the money that we had at the end of the year
+ in our accounts at the local savings bank. The /PayPal/ row gives
+ the amount of money in the PayPal account and in a Gandi prepaid
+ account. /Accounts receivable/ are mostly outstanding demands
+ from the Linux Foundation for work done in December.
+
+ From the /Common capital stock/ of 25000 Euro 50% are held by
+ Walter Koch and 50% by Werner Koch, the owners of g10^code. The
+ /Net profit/ gained in 2014 was back then used to make up for the
+ /Loss carried forward/ in 2014 and the remaining 11000 Euro are
+ set as /Profit carried forward/ to 2015.
+
+ The major part of the /Accounts payable other/ is due to my profit
+ sharing bonus. The /GnuPG development fund/ is the rest of a
+ campaign which collected prize money for the GnuPG logo.
+
+*** Profit and Loss from 2015-01-01 to 2015-12-31
+
+ Now let us see how much money we earned and how we spent it. The
+ following table shows the actual [[file:data/g10code-bilanz-2015-pub.pdf][profit and loss sheet]] with a few
+ accounts pooled up. As above, the values have again been rounded
+ to the nearest Euro.
+
+ | | <r> | <r> | <r> | <r> |
+ | | Debit | (2014) | Credit | (2014) |
+ |--------------------------+--------+---------+--------+---------|
+ | Revenues | | | 57251 | (80435) |
+ | Revenues from donations | | | 283538 | (0) |
+ | Revenues other | | | 218 | (163) |
+ | Salaries | 108719 | (31800) | | |
+ | Social insurance | 18060 | (0) | | |
+ | Contractors | 33165 | (0) | | |
+ | Write-offs | 1532 | (1656) | | |
+ | Connectivity and hosting | 2012 | (2874) | | |
+ | Rents | 2681 | (2653) | | |
+ | Interest expenses | 550 | (0) | | |
+ | Travel expenses | 3499 | (1014) | | |
+ | Other expenses | 5169 | (6244) | | |
+ | Donations | 5100 | (1) | | |
+ | Taxes | 45171 | (0) | | |
+ | Net profit | 115350 | (34357) | | |
+ |--------------------------+--------+---------+--------+---------|
+ | Sums | 341007 | (80597) | 341007 | (80597) |
+
+# Other expenses are:
+# | Fachliteratur | 634 | 664 |
+# | Stromkosten | 452 | 592 |
+# | Bürokosten | 432 | 84 |
+# | Porto | 29 | |
+# | Bankkosten | 577 | 136 |
+# | Werbekosten | 1111 | 3943 |
+# | Beiträge | 128 | 128 |
+# | Instandsetzungskosten | 0 | 250 |
+# | Konferenzkosten | 919 | 118 |
+# | Rechtskosten | 433 | 33 |
+# | Sonstige Kosten | 320 | 238 |
+# | Forderungsverluste | 134 | 58 |
+
+ The /Revenues/ are mainly due to funding from the Linux Foundation
+ for 60,000 USD (54,000 EUR). The /Revenues from donations/ are
+ mainly made up of 100,000 USD from Stripe and Facebook (89,000
+ EUR), 113,000 EUR received via PayPal, and 80,000 EUR via Stripe
+ (credit cards). Note that in 2014 we posted all donations to the
+ /Revenues/ account and not to a separate donations account.
+
+ As with almost all software companies, the majority of expenses
+ are staff costs (we've hired three programmers). Not counting
+ taxes, which are due to the annual profit, we have total costs of
+ 180,000 EUR with 160,000 spent on /Salaries/, /Social insurance/,
+ and /Contractors/. My share is 47,400 EUR regular salary of which
+ I need to pay social insurances myself plus a profit sharing bonus
+ of 25000 EUR. That bonus is exceptionally high due to the huge
+ net profit that we made in 2015; it is very unlikely that a bonus
+ will be due this or next year.
+
+ The /Rents/ are for the room used as an office in my house. The
+ /Interest/ was paid for a loan that I gave to g10^code in 2012 and
+ which was redeemed in 2015. /Other expenses/ sums up money spent
+ for magazines, power, office supplies, advertising, conference
+ fees, legal costs, etc.
+
+ Having received a lot of donations I considered it to be fair to
+ put some money (5100 EUR) to support [[https://netzpolitik.org][Netzpolitik.org]], [[https://fsfe.org][FSFE]],
+ [[https://www.kindernothilfe.de][Kindernothilfe]], [[http://www.freundeskreis-fluechtlinge-erkrath.de/][Freundeskreis für Flüchtlinge in Erkrath]],
+ [[https://wikimedia.de][Wikimedia]], and [[https://openmusiccontest.org][OpenMusicContest]].
+
+ Because g10^code GmbH is still not tax exempted we will need to
+ pay about 45,000 /Taxes/ in 2015 on the 115,000 Euro of /Net
+ profit/. Due to the net loss that we expect for 2016, a tax refund can
+ be expected in 2017.
+
+*** Planning 2016 and 2017
+
+ Along with the paid projects we are currently working on, the two
+ large donations that we are expecting (from Facebook and Stripe),
+ the Linux Foundation grant, and a small stream of individual
+ donations, g10^code will be able to operate with its current staff
+ until the end of 2017. Obviously, we need a longer term plan.
+ Things are a bit delayed, because the original plan to turn
+ g10^code into a charitable company did not worked out and we need
+ to look into other options before starting a new campaign.
diff --git a/misc/blog.gnupg.org/data/g10code-bilanz-2015-pub.pdf b/misc/blog.gnupg.org/data/g10code-bilanz-2015-pub.pdf
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