Dear Foundation Colleagues,

In Fiscal 2019 the Gentoo Foundation Inc pursued a few key initiatives. Top of mind was the process of improving the state of the Foundation financials. The foundation continued to take in revenue and sustain our expenditures for another fiscal year. In fiscal 2019 this included an additional program where the Foundation provided hardware security keys to Gentoo developers.

With regards to our Financials; in 2019 the board authored a request for proposal (RFP) and after numerous months the board succeeded in locating a company to assist us in improving our financial affairs. A special thanks to Robin (Foundation Treasurer) and Matthew for their efforts in driving this effort. We have ascertained our standing with the IRS, received advice on how to move forward, as well as a quote for financial services in order to improve the books of Gentoo Financial Inc. As we have kept the same board for Fiscal 2020, I expect our financial records to be complete for the past 3 fiscal years (2016-2019) by early fiscal 2020 (e.g. Nov 2019.)

In 2019 the board entered into a partnership with Nitrokey[1][2] and funded the purchase of over 70 nitrokey pro 2 units to Gentoo Developers. The board hopes that these units will improve the security of key material used for Gentoo development and aspires to fund additional units in the future as needed; provided the community continues to provide positive feedback on the program.

In 2019 Gentoo Foundation Inc. had revenues exceed expenditures; the Foundation made a profit in 2019. We do not expect this to be the case in the 2020 Fiscal year due to hardware purchases and additional accounting costs that will come in the 2020 Fiscal as we continue to make progress improving our books. While we may lose money in Fiscal 2020, the Foundation has sufficient assets and cash flow to cover the anticipated shortfalls.

-Alec Warner
President, Gentoo Foundation Inc.
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[1] https://www.nitrokey.com/news/2019/nitrokey-partners-gentoo-foundation-equip-developers-usb-keys
[2] https://www.gentoo.org/news/2019/04/16/nitrokey.html