Difference between revisions of "Annual General Meetings/2020/Treasurer’s report"

From OpenStreetMap Foundation
(Treasurer report 2020)
(2 intermediate revisions by the same user not shown)
Line 5: Line 5:
== Detailed reports: ==
== Detailed reports: ==
[https://wiki.osmfoundation.org/wiki/File:OpenStreetMap_Foundation_Limited_-_Profit_and_Loss_2020.pdf Profit and Loss 2020]
* [[Media:OSMF_report_of_directors_and_unaudited_financial_statements_for_year_ended_20191231.pdf|Official Financial Statement 2019]] (PDF as submitted to HMRC - contains income and balance sheet)
[https://wiki.osmfoundation.org/wiki/File:OpenStreetMap_Foundation_Limited_-_Balance_Sheet_2020.pdf Balance Sheet 2020]
* [[Media:OpenStreetMap Foundation Limited - Profit and Loss 2020.pdf|Profit and Loss 2020]] (preliminary, year to date, for 2020-12-12)
* [[Media:OpenStreetMap Foundation Limited - Balance Sheet 2020.pdf|Balance Sheet 2020]] (preliminary, year to date, for 2020-12-12)
== Key figures ==
== Key figures ==

Latest revision as of 19:00, 12 December 2020

Treasurer’s report for the December 2020 AGM

Unless specified, figures are preliminary, in GBP, and rounded. The comma is used as a thousands separator.

Detailed reports:

Key figures

Asset balance (Bank, debts, equipment and depreciation) at the beginning of the period (last AGM): 550,000 Of which bank balance at the beginning of the period: 490,000

Asset balance at the end of the period: 646,000 Of which bank balance at the end of the period: 524,000

Corporate income is a significant part of our income, through memberships, SotM sponsorships and donations to support staffing. Individual memberships are up slightly at 15,600 (2019: 14,500); donations are up significantly at 37,000 (2019: 20,500)

Net profit is up significantly at 87,000 (2019: 17,000), mostly because we had very little costs for SotM.

Significant events

New bank

Our change of bank was the treasurer’s most significant event in 2020. Barclays decided to terminate their relationship with us, and we moved our assets to Triodos Bank. We are also using TransferWise for our day-to-day banking.

Since Triodos doesn’t offer Euro accounts, we lost some of our savings to the currency exchange. On the other hand, Triodos offers a savings account, which is slowly accumulating interest.

New budget

The treasurer is working on setting up a new budget process that will make it easier to reconciliate actual spending with the budget - which we’ve never done before.

The budget process represents a significant workload for the treasurer, and doing a budget right after getting elected treasurer is impossible. The new board will approve a budget for the first half of 2021, and the next budgets will start and end in the summer.

Fundraising for core software and infrastructure stability and sustainability

This year, the Board resolved to support two roles for priority needs: a Senior Site Reliability Engineer and Lead Developer / Maintainter for iD. With an estimated budget of approximately 225000 GBP, we set out to raise earmarked donations from companies, chapters and organisations.

We are pleased to report that this goal was reached, and greatly appreciate the generosity and support to keep OpenStreetMap running smoothly. The total pledged is approximately 285,000 GBP. These funds have all been committed, and are in various stages of administrative process, and we expect completion early in 2021.

Here is a summary of committed donations, in currency of the donation.

Organization Amount
Apple $50K (for SSRE)
Amazon $100K
Mapbox $40K
Facebook $100K
TomTom $20K
HOT $10K
OSM US $7,500
Geofabrik €2500 (corp membership upgrade)
Fossgis €2500
Kaart $5000

For future years, we are looking at developing an overall plan for long-term support for OSMF infrastructure, and expect to seek multi-year commitments to support OSM core infrastructure with stability and predictability.