Management ReportOWASP Foundation, Inc.
June 2024

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

1

Statement 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 June 2024, cash increased by $60,922, leaving an ending cash balance of $2,257,769. The
difference between the cash increase and and net income is due to revenue recognized in previous months collected in themonth of June.

•Other current assets were a total of $539,847 and are made up of funds due from PayPal, Stripe, Chase CD, andEventbrite.

•Accounts receivable is $394,790 as of June 2024. This balance is made up of receivables due from Conference
attendees and sponsors.

•

Accounts payable is $60,965 as of June 2024 and is primarily made up of monies owed for conference
reimbursements and vendors subsequently paid in the following month.

•Credit Card balance is $4,978 as of June 2024.

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 June 2024 was $310,555, compared with $402,342 in May 2024. The
decrease in operating revenue is primarily due to decreased conference registration and corporate donations.

•Year-to-date operating revenue is $2,672,621, compared with the year-to-date budget of $958,424 and annual budgetof $3,430,997. During the same period in the prior year, year-to-date operating revenue was $1,302,792.

•The revenue budget variance is largely due to receiving conference revenues earlier than anticipated.

•

Membership revenue has exceeded year-to-date budget expectations by $29,948 and Corporate Supporters revenue
has exceeded year-to-date budget expectations by $86,425 as of June 2024.

•

Total operating expenses for the month of June 2024 were $336,652, compared with $209,713 in May 2024. The
increase in operating expenses is due to increased conference expenses related to the Lisbon conference that occurred
during the month.

•Year-to-date operating expenses are $1,369,826, compared with the year-to-date budget of $1,336,506 and annual
budget of $3,179,830. During the same period in the prior year, year-to-date operating expenses were $1,435,810.

•After accounting for non-operating activity, the organization has recognized net loss of ($25,997) for the month ofJune 2024 and a year-to-date net income of $1,303,478.

OWASP Foundation, Inc., Jun 2024

Page 1

Statement of Financial Position
STATEMENT OF FINANCIAL POSITION ($)

Jun 2024

May 2024

369

0ASSETSCash & Equivalents
Bill.com Money Out Clearing
Chase Checking-5767

555,347

522,511Chase Savings-1751

1,493,208

1,493,185

Citizens Checking 4011

85,52957,835Chase Checking-9635

25,00025,000Affiliate - Cash

98,31698,316

2,257,769

2,196,847

394,790

477,506

Due from Eventbrite

77,45055,775

Stripe Clearing

2,508

4,703

Funds held in PayPal

359,888359,888

2 month CD Acct #1170

100,000

100,000

Total Cash & Equivalents
Accounts Receivable
Accounts Receivable
Other Current Assets

Total Other Current Assets
Total Current Assets

539,847

520,365

3,192,406

3,194,719

Investments or Other Non-Current Assets
Prepaid Expense

10,14017,01010,14017,0103,202,546

3,211,729

Accounts Payable

57,87241,015Affiliate - Accounts Payable

3,093

3,093

60,965

44,108

4,978

5,022

65,94349,129Total Non-Current Assets
Total Assets

LIABILITIES
Accounts Payable

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

00

65,94349,1291,745,276

1,745,276

1,303,478

1,329,475

NET ASSETS
Retained Net Assets
Retained Earnings
Current Net Assets
Net Income
Other Net Assets
87,84987,849Total Net Assets

Affiliate - Net Assets

3,136,603

3,162,600

Total Liabilities & Net Assets

3,202,546

3,211,729

OWASP Foundation, Inc., Jun 2024

Page 2

Statement of Activities
Jun 2024

May 2024

Registrations

32,283

171,432

480,076

Sponsorships

155,757

142,540

1,445,122

188,040

313,972

1,925,198

STATEMENT OF ACTIVITIES ($)

2024 (YTD)

IncomeConference Income

Total Conference Income
Donations
General Donations
Corporate Supporters
Projects
Total Donations

1,342

1,352

10,578010,000

298,92500

27,0001,342

11,352

336,503

24,98028,746

167,82900

25,000
192,829

Membership Income
Individual
Lifetime Membership
Total Membership Income

24,98028,746

Miscellaneous Income

4043

Uncategorized Income

96,18948,273218,048

310,555

402,342

2,672,621

Outreach

01,641

5,544

Shipping & Postage

42551

856

Swag0013,418

Total Income
ExpensesCommunity Outreach

TravelTotal Community Outreach62

11,197

16,900104

13,38936,71859,642

Conference Expenses
Audio & Video

33,1900

Copying & Printing

91

195

406

Fees - Registration

1,496

8,355

21,651

Food & Beverages

150,259

0

167,538

2,015

0

2,801

149

10

7,191

00

1,113

3,501

14

3,730

254

02,332

Software0025

Speakers Gifts

00

1,005
11,359Graphic Design
Lead Scanners, Lanyards, & Badges
Marketing
Miscellaneous
Office Supplies & Equipment

Swag

7,292

797

Tax Compliance

00703

Training

00

9,588

Travel2,149

42,31470,850Venue

12,859816

104,962

Speakers

00

5,050

Conference Expenses

4,807

2,865

16,695

Total Conference Expenses

218,061

55,367

486,640

1,203

2,286

5,432

0105

934

1,213

1,296

10,444

00703

2,736

0

2,736

026

13,073General & Admin - Operations
Bank & Credit Card Fees
Employee Recognition
Merchant Fees
Miscellaneous Fees
Office Supplies & Equipment
OWASP Insurance

OWASP Foundation, Inc., Jun 2024

Page 3

Jun 2024

Shipping & Postage

May 2024

2024 (YTD)

43187

442

5,575

19,36948,201

Tax Compliance - US0389

446

Tax Compliance - EU3,302

0

8,332
35,100Software, Internet, Dues, & Subscriptions

Travel

0

3,914

5,744

900

12,081

19,81528,471

137,921

Food & Beverages

00467

Meeting Expenses

4,339

4,540

21,617

Meetup

3,600

3,600

18,340Travel068

68Your Membership

00

1,052

Uncategorized Expenses
Total General & Admin - Operations
Local Chapter Expenses

Insurance

63

660

2,203

8,002

8,869

43,747

Benefits

10,498

11,38764,266Gross Wages

51,321

57,025

306,616

Payroll Processing Fee

2,993

1,275

5,226

Payroll Taxes

4,180

5,298

28,754PEO Admin & HR fees1,741

2,551

15,323

324

356

1,979

71,05877,893422,165

Total Local Chapter Expenses
Personnel & Payroll

Workers Comp
Total Personnel & Payroll
Professional Fees
Accounting - EU

00

202

Accounting - US

5,920

5,490

48,480Legal
Total Professional Fees

1,276

307

13,059

7,196

5,797

61,741

Project Expenses
Office Supplies & Equipment
Other expenses
Services (UI/UX, Graphics, Translations)

063

63

386

0

533
50,598

3,230

3,227

Swag0528

528

Summits

00

92,2846,300

10,50016,800

00

8,000

2,500

4,207

9,995

0

1,402

1,617

12,416

19,927

180,418

Technology
Grants Writing
TravelProject Expenses
Total Project Expenses

00478

Total Expenses

Printing

336,652

209,713

1,369,826

Operating Surplus/Deficit(26,096)

192,629

1,302,795

Interest Income
Interest Income
Earnings Before Tax

23

25

135

(26,074)

192,654

1,302,930

Adjustments(77)

225(548)

Change in Net Assets

Exchange Rate Gain/Loss(25,997)

192,430

1,303,478

Retained Income(25,997)

192,430

1,303,478

OWASP Foundation, Inc., Jun 2024

Page 4

Budget Summary
STATEMENT OF ACTIVITIES ($)

2024 (YTD)

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

This year vs budget(% YTD)

Budget (full FY)

IncomeConference Income
Registrations

480,0760480,076-

893,925

Sponsorships

1,445,122

496,475

948,647

191.08%1,299,450

Training
Total Conference Income

000-

371,100

1,925,198

496,475

1,428,723

287.77%2,564,475

Donations
General Donations

10,578

7,740

2,838

36.66%

15,481

Corporate Supporters

298,925

212,500

86,42540.67%

425,000
23,765

Local Chapter

014,554(14,554)-100.00%

27,00064,273(37,273)-57.99%78,998336,503

299,06737,436

12.52%

543,244

Individual

167,829

162,882

4,948

3.04%

312,338

Lifetime Membership

25,000025,000-

0

Total Membership Income

192,829

162,882

29,94818.39%

312,338

Miscellaneous Income

43043-

10,940

Uncategorized Income

218,0480

218,048-

02,672,621

958,424

1,714,198

178.86%3,430,997

5,544

19,600(14,056)-71.71%25,641

856

0856-

373

13,418013,418-

1,179

Projects
Total Donations
Membership Income

Total Income
ExpensesCommunity Outreach
Outreach
Shipping & Postage
SwagTravel
Total Community Outreach

16,900016,900

-

8,164

36,71819,60017,11887.34%

35,357

Conference Expenses
Audio & Video

59,642

69,399(9,757)-14.06%211,949

Copying & Printing

406

369

37

10.11%

1,479

Fees - Registration

21,651

2,554

19,097

747.71%

6,059

Food & Beverages

167,538

220,000(52,462)-23.85%655,400

Graphic Design

2,801

250

2,551

1,020.50%

250

Lead Scanners, Lanyards, & Badges

7,191

3,415

3,776

110.57%

9,707

Marketing

1,113

7,500

(6,388)-85.17%

11,000Miscellaneous

3,730

3,300

430

13.03%

9,900

Office Supplies & Equipment

2,332

50

2,282

4,563.76%650

03,500(3,500)-100.00%

3,500

Postage & Shipping

02,246(2,246)-100.00%

3,936

Software25500(475)-95.00%

1,000

Speakers Gifts

1,005

300

705

235.10%650

Swag11,359

5,904

5,455

92.40%

13,488

703

0703

-

09,58809,588-235,000

Photography

Tax ComplianceTraining
Travel

70,85046,56324,28752.16%

176,578

Venue

104,962

150,256(45,294)-30.14%

198,112

Speakers

5,050

2,798

2,252

80.47%

13,244

Conference Expenses

16,695

12,5584,137

32.94%

49,828Total Conference Expenses

486,640

531,462(44,823)-8.43%

1,601,730

General & Admin - Operations
Awards and Member Benefits

06,825(6,825)-100.00%

8,511

Bank & Credit Card Fees

5,432

1,647

3,785

229.82%

3,417

Employee Recognition

934

199

735

370.10%404

012,500(12,500)-100.00%

25,00010,444

27,695(17,251)-62.29%49,674

703

0703

-0

Marketing, Communications, and Advertisi…
Merchant Fees
Miscellaneous FeesOWASP Foundation, Inc., Jun 2024

Page 5

2024 (YTD)

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

This year vs budget(% YTD)

Budget (full FY)

Office Supplies & Equipment

2,736

630

2,105

333.91%925

OWASP Insurance

13,073

5,173

7,900

152.73%

10,220Phone Expenses

02,410(2,410)-100.00%

4,820

Professional Development

000-575

442

408

33

8.13%

548

48,20149,817(1,616)-3.24%

103,030

Tax Compliance - US

446

0446

-

0

Tax Compliance - EU

8,332

08,332-0Travel35,10014,478

20,622142.44%25,972

Shipping & Postage
Software, Internet, Dues, & Subscriptions

Uncategorized Expenses
Total General & Admin - Operations

12,0810

12,081-0

137,921

121,781

16,14013.25%

233,095

Local Chapter Expenses
Food & Beverages

467

0467

-

0

Meeting Expenses

21,617

25,848(4,231)-16.37%

39,848

Meetup18,34017,521819

4.68%

47,333

68

068

-259

Your Membership

1,052

0

1,052

-

0

Insurance

2,203

2,000

203

10.14%

3,750

43,74745,369(1,622)-3.58%

91,190TravelTotal Local Chapter Expenses
Personnel & Payroll
Benefits

64,266

79,557(15,291)-19.22%

159,114Gross Wages

306,616

360,803(54,187)-15.02%

721,607Payroll Processing Fee

5,226

1,800

3,426

190.30%4,246

Payroll Taxes

28,754

28,864(111)-0.38%

57,729PEO Admin & HR fees

15,323

17,239(1,916)-11.11%

31,399Workers Comp

1,979

1,999

(20)

-0.98%

3,933

422,165

490,263(68,099)-13.89%978,027

Total Personnel & Payroll
Professional Fees
Accounting - EU

202

0202

-0

Accounting - US

48,48050,240(1,760)-3.50%

92,430Legal

13,05932,695(19,636)-60.06%57,90361,741

82,935(21,194)-25.56%150,333

Office Supplies & Equipment

63063-0

Other expenses

533

0533-

050,598

050,598-

0528

0528-

0Summits

92,284092,284-0Technology

16,800016,800-

0

Grants Writing

8,000

08,000-0Travel9,995

09,995-

8,621

Total Professional Fees
Project Expenses

Services (UI/UX, Graphics, Translations)
SwagProject Expenses

1,617

45,095(43,478)-96.42%

81,477

Total Project Expenses

180,418

45,095

135,323300.08%90,098

478

0478

-0

Total Expenses

Printing

1,369,826

1,336,506

33,321

2.49%

3,179,830

Operating Surplus/Deficit

1,302,795(378,082)

1,680,877

444.58%251,166

Interest Income
Interest Income
Earnings Before Tax

1350135-01,302,930(378,082)

1,681,012

444.62%

251,166

Adjustments(548)

0(548)-0Change in Net Assets

Exchange Rate Gain/Loss

1,303,478(378,082)

1,681,560

444.76%251,166

Retained Income

1,303,478(378,082)

1,681,560

444.76%251,166

OWASP Foundation, Inc., Jun 2024

Page 6