Management ReportOWASP Foundation, Inc.
January 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 January 2024, cash increased by $103,829, leaving an ending cash balance of $1,966,255. The
increase in cash is driven by the net gain recognized during the month.

•Other current assets are total $55,661 and are primarily made up of funds due from PayPal and Eventbrite.

•Accounts payable is $88,272 as of January 2024.

•Credit Card balance is $3,047 as of January 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 January 2024 was $251,827, compared with $110,082 in December 2023.
The increase in operating revenue is primarily due to the increased conference and membership income.

•Year-to-date operating revenue is $251,827. During the same period in the prior year, year-to-date operating revenue
was $238,168.

•

Total operating expenses for the month of January 2024 were $152,712, compared with $150,707 in December 2023.

•

Year-to-date operating expenses are $152,712. During the same period in the prior year, year-to-date operating
expenses were $111,950.

•After accounting for non-operating activity, the organization has recognized net income of $99,100 for the month ofJanuary 2024.

OWASP Foundation, Inc., Jan 2024

Page 1

Statement of Financial Position
STATEMENT OF FINANCIAL POSITION ($)

Jan 2024

Dec 2023(7)

39

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

598,751

247,982

Chase Savings-1751

1,186,913

1,186,892

Citizens Checking 2482

0146,099

Citizens Checking 4011

55,128144,529

010,916Chase Checking-9635

25,341

25,341

Stripe Clearing

1,813

2,312

Affiliate - Cash

98,31698,316

1,966,255

1,862,426

9,989

9,989

Citizens MM 2156

Total Cash & Equivalents
Other Current Assets
Due from Eventbrite
Funds held in PayPal

43,86011,700Total Other Current Assets

53,84921,6892,020,104

1,884,115

2,473

4,761

Total Current Assets
Investments or Other Non-Current Assets
Prepaid Expense
Total Non-Current Assets
Total Assets

2,473

4,761

2,022,576

1,888,876

85,17948,232

LIABILITIES
Accounts Payable
Accounts Payable
Affiliate - Accounts Payable
Total Accounts Payable

3,093

3,093

88,272

51,325

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

3,047

5,394

91,31956,7190091,31956,7191,744,308

1,981,821

99,100(237,513)

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

Affiliate - Net Assets

1,931,257

1,832,157

Total Liabilities & Net Assets

2,022,576

1,888,876

OWASP Foundation, Inc., Jan 2024

Page 2Statement of Activities
Jan 2024

Dec 2023

2024 (YTD)

Registrations

43,861

15,27043,861

Sponsorships

63,74017,39963,740107,601

32,669107,601

134

283

134

Corporate

55,00024,98055,000Individual

31,385

18,82931,38586,38543,80986,385

STATEMENT OF ACTIVITIES ($)
IncomeConference Income

Total Conference Income
Donations
General Donations
Membership Income

Total Membership Income
Miscellaneous Income

270

3,248

270

Uncategorized Income

57,43730,07457,437

251,827

110,082

251,827

Total Income
ExpensesCommunity Outreach
Outreach

1,607

01,607

Shipping & Postage

67067

Travel39039

1,713

0

1,713

Fees - Registration

2,318

344

2,318

Food & Beverages

024,6950

Graphic Design0720

Lead Scanners, Lanyards, & Badges

01,5020

Logistics Freight

02,7990

Office Supplies & Equipment

01050Signage

03770

Swag7620762

Tax Compliance

703

0703

Total Community Outreach
Conference Expenses

Tax Compliance575857

Travel11,120946

11,120Venue(1,238)546(1,238)Speakers

2,761

638

2,761

Conference Expenses

7,455

07,455

Total Conference Expenses

23,93732,08223,937

General & Admin - Operations
Bank & Credit Card Fees

969Employee Recognition

25208

25
2,720

Merchant Fees

2,720840

Miscellaneous Fees

0145

0

OWASP Insurance

796

796796

Software, Internet, Dues, & Subscriptions

3,478

3,093

3,478

Travel

39039

Uncategorized Expenses

0100

7,067

5,099

7,067

Total General & Admin - Operations
Local Chapter Expenses
Meeting Expenses

1,499

549

1,499

Your Membership

1,052

1,052

1,052

516

0516

3,066

1,600

3,066

Insurance
Total Local Chapter Expenses

OWASP Foundation, Inc., Jan 2024

Page 3

Jan 2024

Dec 2023

2024 (YTD)

Benefits

10,723

10,72310,723

Gross Wages

47,06784,92847,067

232

345

232

Payroll Taxes

5,339

5,466

5,339

PEO Admin & HR fees

2,696

2,142

2,696

305

495

305

66,362104,098

66,362

Personnel & Payroll

Payroll Processing Fee

Workers Comp
Total Personnel & Payroll
Professional Fees
Accounting - EU

202

205

202

Accounting - US

5,490

5,490

5,490

Legal
Total Professional Fees

0193

0

5,692

5,888

5,692

44,875044,875

0

1,940

0

44,8751,940

44,875

Project Expenses
Summits
Project Expenses
Total Project Expenses
Total Expenses

152,712150,707

152,712

Operating Surplus/Deficit

99,115(40,625)

99,115

Other Expenses
Reconciliation Discrepancies-1
Earnings Before Interest & Tax

03,020099,115(43,645)

99,115Interest Income
Interest Income
Earnings Before Tax

211121

99,136(43,634)

99,136

Adjustments
3666

36

Change in Net Assets

Exchange Rate Gain/Loss

99,100(43,700)

99,100Retained Income

99,100(43,700)

99,100OWASP Foundation, Inc., Jan 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)-Income
Conference Income
Registrations

43,861---

Sponsorships

63,740----107,601

----

134

---

-

Corporate

55,000----Individual

31,385----86,385----

Miscellaneous Income

270

---

-

Uncategorized Income

57,437----

251,827

-

--

-

1,607

----

Shipping & Postage

67----

Travel

39-

---

1,713

-

--

-

Total Conference Income
Donations
General Donations
Membership Income

Total Membership Income

Total Income
ExpensesCommunity Outreach
Outreach

Total Community Outreach
Conference Expenses
Fees - Registration2,318----

Swag762----

Tax Compliance703----Tax Compliance57----

Travel11,120----

Venue(1,238)----

Speakers

2,761----

Conference Expenses

7,455----

Total Conference Expenses

23,937----

Bank & Credit Card Fees

9----

Employee Recognition

25---

-

2,720----

General & Admin - Operations

Merchant FeesOWASP Insurance

796----

3,478----

39----

7,067----

Meeting Expenses

1,499----Your Membership1,052----516----

3,066----

Benefits

10,723----Gross Wages

47,067----232----

Payroll Taxes

5,339----PEO Admin & HR fees

2,696----

305

---

-

66,362----

Software, Internet, Dues, & Subscriptions
TravelTotal General & Admin - Operations
Local Chapter Expenses

Insurance
Total Local Chapter Expenses
Personnel & Payroll

Payroll Processing Fee

Workers Comp
Total Personnel & Payroll

OWASP Foundation, Inc., Jan 2024

Page 52024 (YTD)

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

This year vs budget(% YTD)

Budget (full FY)-

Professional Fees
Accounting - EU202---

Accounting - US5,490

-

--

-

Total Professional Fees

5,692

-

--

-

Project Expenses
Summits

44,875----

Total Expenses

152,712----

Operating Surplus/Deficit

99,115----Interest Income
Interest Income

21-

--

-

99,136

-

--

-36-

--

-

Change in Net Assets

99,100----Retained Income

99,100----Earnings Before Tax
Adjustments
Exchange Rate Gain/LossOWASP Foundation, Inc., Jan 2024

Page 6