[Foundation-l] Fundraising and site notice

[Sue Reed]

Thank you very much for this message. I fully admit that I may have missed it somewhere along the way, but I appreciate the succinct reasoning. I did go back and look at this is way at the bottom of the "why we need money" page, but I appreciate you posting about it here. 
 
Sue Anne
sreed1234 at yahoo.com

----- Original Message ----
From: Anthere <Anthere9 at yahoo.com>

Beg your pardon ?

Financial statements go from june to june. So, "new" is at least 7 
months ago.

7 months ago, we had a "cash at the end of the year" of 500 000 dollars.

Our auditors recommanded to increase cash reserve to at least 3 
($875,000), preferrably 6 months ($1,650,000) of operating expenses for 
fiscal security.

In june 2006, we were NOT overfunded, we were precisely within security 
limits, with something like 3 to 6 months of operations in reserve.

Right now, we are VERY underfunded.

Anthere






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