Management ReportOWASP Foundation, Inc.
October 2023

Basis of Preparation
This report is prepared solely for the confidential use of OWASP Foundation, Inc.. In the preparation of this report, The Charity
CFO, LLC has relied upon the unaudited financial and non-financial information provided to them. The Charity CFO, LLC
neither owes nor accepts any duty to any other party and shall not be liable for any loss, damage or expense of whatsoever
nature which is caused by their reliance on the report or the analysis contained herein.

Table of Contents
Executive Summary

1Statement of Financial Position

2Statement of Activities

3

Budget Summary

5

Executive Summary
Statement of Financial Position
This statement is often referred to as the Balance Sheet, and it is designed to represent an organization's total assets available
to meet its obligations (liabilities) as of a specific point in time. The difference between total assets and total liabilities isreferred to as Net Assets, or Equity.
•During the month of October 2023, cash increased by $74,014, leaving an ending cash balance of $2,400,016.

•Accounts payable is $112,728 as of October 2023. The balance primarily consists of expenses related to the DCconference.

Statement of Activities
This statement is often referred to as the Income Statement or Profit and Loss, and it is designed to represent an organization's
accrual-basis revenue and expenses over the course of a specified period. The difference between total revenue and total
expenses is referred to as Net Income, or Earnings.
•Total operating revenue for the month of October 2023 was $369,793, compared with $528,446 in September 2023.
The decrease in operating revenue is primarily due to the DC conference.

•Year-to-date operating revenue is $2,974,894, compared with the year-to-date budget of $2,430,506 and annual
budget of $2,854,173. During the same period in the prior year, year-to-date operating revenue was $1,441,977.

•Total operating expenses for the month of October 2023 were $258,422, compared with $175,846 in September 2023
. The increase in operating expenses is primarily due to the DC conference.

•Year-to-date operating expenses are $2,196,252, compared with the year-to-date budget of $2,046,855 and annual
budget of $2,981,274. During the same period in the prior year, year-to-date operating expenses were $1,196,599.

•After accounting for non-operating activity, the organization has recognized net income of $111,490 for the month ofOctober 2023 and a year-to-date net income of $749,455.

OWASP Foundation, Inc., Oct 2023

Page 1

Statement of Financial Position
Oct 2023

Sep 2023

Chase Checking-5767

75,78692,025Chase Savings-1751

286,877

286,872

Citizens Checking 2482

306,099

306,099

Citizens Checking 4011

1,595,434

1,503,628

Citizens MM 2156

10,915

10,915Chase Checking-9635

25,341

25,341

STATEMENT OF FINANCIAL POSITION ($)
ASSETSCash & Equivalents

Stripe Clearing

1,247

2,807

Affiliate - Cash

98,31698,3162,400,016

2,326,003

0

5,000

Total Cash & Equivalents
Accounts Receivable
Accounts Receivable
Other Current Assets
Due from Eventbrite
Total Current Assets

534,523424,2292,934,539

2,755,232

Investments or Other Non-Current Assets
Prepaid Expense

12,52818,00812,52818,0082,947,067

2,773,240

109,635

38,407

3,093

3,093

112,728

41,50015,214

24,104

127,942

65,60500

127,942

65,605

1,981,821

1,981,821

749,455

637,965

87,84987,849Total Net Assets

2,819,125

2,707,635

Total Liabilities & Net Assets

2,947,067

2,773,240

Total Non-Current Assets
Total Assets

LIABILITIES
Accounts Payable
Accounts Payable
Affiliate - Accounts Payable
Total Accounts Payable
Other Current Liabilities
Credit Card
Total Current Liabilities
Total Non-Current Liabilities
Total Liabilities

NET ASSETS
Retained Net Assets
Retained Earnings
Current Net Assets
Net Income
Other Net Assets
Affiliate - Net Assets

OWASP Foundation, Inc., Oct 2023

Page 2Statement of Activities
Oct 2023

Sep 2023

Registrations

216,921437,865

986,764

Sponsorships

98,34447,763

1,334,425

STATEMENT OF ACTIVITIES ($)

2023 (YTD)

IncomeConference Income

Training
Total Conference Income

4,121

10,00814,130319,386

495,636

2,335,319

Donations
General Donations

472

4,262

11,701

Local Chapter

00

18,861

Projects

00

62,697472

4,262

93,260288,420

Total Donations
Membership Income
Corporate

26,9700

Individual

21,63927,608247,887

Total Membership Income

48,60927,608536,307

Uncategorized Income

1,326

01,326

Miscellaneous Income

0939

8,682

369,793

528,4462,974,894

Outreach

0020,350

Shipping & Postage

00296

Swag556380

936

Travel

150

6,479

571

380

28,062

Total Income
ExpensesCommunity Outreach

Total Community Outreach
Conference Expenses
Audio & Video031,035228,023

Copying & Printing

8,744

2,028

21,920Fees - Registration

41,603043,264

766

368

2,519

0

1,450

25,132Graphic Design
Marketing
Miscellaneous

209

2,216

8,432

1,028

415

1,546

00

3,787

5,810

6,76628,772

Travel

1,255

3,623

39,112

Venue

75,3550364,397

Food & Beverages

Office Supplies & Equipment
Photography
Swag

1,670

9,284

78,664

Tax Compliance

0164

70,555

Speakers

00

8,731

Awards and Member Benefits

0255

6,755

4,100

076,197

Training
Conference Expenses

4,072

0

4,072

Total Conference Expenses

144,61357,604

1,011,879

Bank & Credit Card Fees

258

205

2,712

Employee Recognition

1040320

0900

1,574

6,522

3,073

39,42400(6,816)

General & Admin - Operations

Marketing, Communications, and Advertisi…
Merchant FeesMiscellaneous Fees
Office Supplies & Equipment

920734OWASP Insurance

796

796

8,111

Phone Expenses

003,825

Professional Development

0456

456

Shipping & Postage

00435

7,240

2,625

50,024

Software, Internet, Dues, & Subscriptions

OWASP Foundation, Inc., Oct 2023

Page 3

TravelUncategorized Expenses
Total General & Admin - Operations

Oct 2023

Sep 2023

2023 (YTD)

286

6,269

20,613

3,978

8,880

15,17819,27623,206

136,589

Local Chapter Expenses
Insurance

0741

6,091

Meeting Expenses

1,346

1,949

31,626

Meetup

3,191

3,191

37,56665141206

1,052

1,052

9,465

5,654

7,074

84,953

Benefits

10,723

10,383103,862

Gross Wages

47,06747,067497,172

232

227

7,026

Payroll Taxes

3,601

3,601

41,566PEO Admin & HR fees

2,696

2,645

19,301

305

302

3,121

64,62464,225672,049

TravelYour Membership
Total Local Chapter Expenses
Personnel & Payroll

Payroll Processing Fee

Workers Comp
Total Personnel & Payroll
Professional Fees
Accounting - EU

00

1,243

Accounting - US

8,190

5,490

130,520

Legal
Total Professional Fees

3,920

7,422

45,955

12,11012,912

177,718

Project Expenses
Travel06,842

6,842

Project Expenses

1,473

208

64,664

Total Project Expenses

1,473

7,051

71,506

Lead Scanners, Lanyards, & Badges

03,061

3,061

Speakers Gifts

0333

333

5,036

0

5,036

Postage & Shipping
Software

115

0115

4,950

0

4,950

Total Expenses

258,422

175,846

2,196,252

Operating Surplus/Deficit

111,371352,600

778,64100129

Logistics Freight

Other Income
Other Income
Other Expenses
One time write offs - Bad Debt Expense
Earnings Before Interest & Tax

0029,458

111,371352,600

749,312Interest Income
Interest Income
Earnings Before Tax5530

111,376352,605

749,342

Adjustments(114)

0(114)

Change in Net Assets

Exchange Rate Gain/Loss

111,490352,605

749,455

Retained Income

111,490352,605

749,455OWASP Foundation, Inc., Oct 2023

Page 4

Budget Summary
STATEMENT OF ACTIVITIES ($)

2023 (YTD)

Budget (YTD) This year vs budget ($YTD)

This year vs budget(% YTD)

Budget (full FY)

IncomeConference Income
Registrations

986,764

1,652,673(665,909)-40.29%1,912,673

Sponsorships

1,334,425

01,334,425-014,130014,130-

02,335,319

1,652,673

682,64641.31%

1,912,673

General Donations

11,701

20,833(9,132)-43.83%25,000Local Chapter

18,861

3,333

15,528465.84%4,000

Projects

62,697

062,697-0

93,26024,167

69,093285.90%29,000026,250(26,250)-100.00%

35,000

Corporate

288,420

375,000(86,580)-23.09%450,000

Individual

247,887

250,000(2,113)-0.85%

300,000

0

1,250(1,250)-100.00%

1,500

536,307626,250(89,943)-14.36%

751,500

Training
Total Conference Income
Donations

Total Donations
Grant Income
Membership Income

Lifetime Membership
Total Membership Income
Uncategorized Income

1,326

0

1,326-0Miscellaneous Income

04,500(4,500)-100.00%

6,000

Miscellaneous Income

8,682

08,682-00

30,000(30,000)-100.00%

40,000

Project Income
Fundraising066,667(66,667)-100.00%

80,000Total Income

2,974,894

2,430,506

544,387

22.40%

2,854,173

ExpensesCommunity Outreach
Outreach

20,350020,350

-

0296

1,667

(1,370)-82.22%2,000

Swag9360936-0Travel

6,479

06,479-028,062

1,667

26,395

1,583.66%

2,000

Audio & Video

228,0230228,023-

0Copying & Printing

21,920021,920-

0Fees - Registration

43,264043,264-0Graphic Design

2,519

02,519-0Marketing

25,132

025,132-

0

Miscellaneous

8,432

667

7,765

1,164.73%

800

Office Supplies & Equipment

1,546

01,546-0Photography

3,787

03,787-0

Swag28,772

028,772-

0Travel39,1127,500

31,612421.49%15,000Venue

364,3970364,397-

0

Food & Beverages

78,664

078,664-

0Tax Compliance

70,555070,555-

0Speakers

8,731

08,731-

0Awards and Member Benefits

6,755

06,755-0Training

76,197076,197-00

716,600(716,600)-100.00%

1,362,969

Shipping & Postage

Total Community Outreach
Conference Expenses

Conference Expenses
Conference Expenses

4,072

04,072-0

1,011,879

724,767

287,11239.61%

1,378,769

Bank & Credit Card Fees

2,712

29,167(26,455)-90.70%35,000

Employee Recognition

3200320-0Marketing, Communications, and Advertisi…

1,574

15,000(13,426)-89.51%

18,000

Merchant Fees

39,4247,500

31,924425.65%9,000

Total Conference Expenses
General & Admin - Operations

OWASP Foundation, Inc., Oct 2023

Page 5

2023 (YTD)

Miscellaneous Fees

Budget (YTD) This year vs budget ($YTD)

This year vs budget(% YTD)

Budget (full FY)(6,816)33,333(40,150)-120.45%

40,000

734

0734

-

0

OWASP Insurance

8,111

08,111-0

Phone Expenses

3,825

03,825-0Professional Development

456

0456

-0

Shipping & Postage

435833(398)-47.80%1,000

Software, Internet, Dues, & Subscriptions

50,02462,500(12,476)-19.96%75,000Travel

20,613

41,667(21,055)-50.53%60,000

Uncategorized Expenses

15,178015,178-0136,589

190,000(53,411)-28.11%

238,000

Insurance

6,091

30,417(24,326)-79.97%36,500Meeting Expenses

31,62650,000(18,374)-36.75%60,000Meetup37,566

41,667(4,101)-9.84%

50,000

206

0206

-0

9,465

25,000(15,535)-62.14%30,00084,953147,083(62,130)-42.24%

176,500

Office Supplies & Equipment

Total General & Admin - Operations
Local Chapter Expenses

TravelYour Membership
Total Local Chapter Expenses
Personnel & Payroll
Benefits

103,8620103,862-0Gross Wages497,172

713,754(216,582)-30.34%

856,505

Payroll Processing Fee

7,026

0

7,026

-0

Payroll Taxes

41,566

60,833(19,267)-31.67%73,000PEO Admin & HR fees

19,3010

19,301-0Workers Comp

3,121

0

3,121

-

0

672,049774,588(102,539)-13.24%

929,505

Accounting - EU

1,243

12,500(11,257)-90.05%15,000Accounting - US

130,520

92,50038,02041.10%

111,000

Total Personnel & Payroll
Professional Fees

Legal
Total Professional Fees

45,95530,417

15,53851.08%

36,500177,718

135,41742,30231.24%

162,50015,000

Project Expenses
Travel6,842

7,500(658)-8.77%

Project Expenses

64,66465,000(336)-0.52%

78,000Total Project Expenses

71,50672,500(994)-1.37%

93,000

Lead Scanners, Lanyards, & Badges

3,061

0

3,061

-

0333

0333

-

0

5,036

833

4,203

504.36%

1,000
0Speakers Gifts
Postage & Shipping
Software
Logistics Freight
Total Expenses
Operating Surplus/Deficit

115

0115

-

4,950

04,950-02,196,252

2,046,855

149,3987.30%

2,981,274

778,641

383,652

394,990102.96%(127,101)

129

0129

-0

Other IncomeOther Income
Other Expenses
One time write offs - Bad Debt Expense
Earnings Before Interest & Tax

29,458029,458-

0749,312

383,652

365,660

95.31%(127,101)Interest Income
Interest Income
Earnings Before Tax

30030

-

5749,342

383,652

365,69095.32%(127,096)

Adjustments(114)

0(114)-0Change in Net Assets

Exchange Rate Gain/Loss

749,455

383,652

365,804

95.35%(127,096)

Retained Income

749,455

383,652

365,804

95.35%(127,096)

OWASP Foundation, Inc., Oct 2023

Page 6