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* [gentoo-nfp] 2019 Presidents Letter
@ 2019-09-07 20:53 Alec Warner
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From: Alec Warner @ 2019-09-07 20:53 UTC (permalink / raw
  To: gentoo-nfp

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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.
________________
[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

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2019-09-07 20:53 [gentoo-nfp] 2019 Presidents Letter Alec Warner

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