As 2016 wrapped up, we used this space to talk about what we did in 2016 and what we plan to do in 2017. We covered achievements and goals, both in terms of projects to benefit the community and in terms of fundraising to accomplish those projects. Neither of those posts, however, delved into the nitty-gritty of IFTF’s finances. Today, we’re pleased to fill that void by posting the IFTF 2016 Transparency Report.
We’ll let the report speak for itself, but the key points: in 2017, we received $2683.84 in donations, mostly from our founders. We spent $1117.81, mostly on professional services to help us set up the foundation. Currently, we have recurring commitments to spend approximately $890 a year.
In 2017, we expect this picture to change quite a bit. We hope we’ll receive grants, reducing our dependence on founders’ donations. We expect that we’ll spend less on professional services and more on hosting as we take on more projects and move additional IF community services to IFTF’s servers. We also intend to begin tracking in kind donations so we can give the community a sense of how much time volunteers have spent supporting us.
In a year’s time, our 2017 transparency document will have a lot more to say. We’re proud of the work we’ve done at IFTF so far, pleased to be able to transparently share our budget with the IF community, and excited for this year’s challenges!