Management ReportOWASP Foundation, Inc.
March 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 March 2024, cash increased by $77,633, leaving an ending cash balance of $1,972,919. Thevariance in cash is driven by the significant increase in conference sponsorship revenue during the month.

•Other current assets were a total of $241,465 and are made up of funds due from PayPal, Stripe, Chase CD, andEventbrite.

•Accounts receivable is $115,149 as of March 2024.

•

Accounts payable is $34,707 as of March 2024.

•Credit Card balance is $33,855 as of March 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 totalexpenses is referred to as Net Income, or Earnings.
•Total operating revenue for the month of March 2024 was $586,384, compared with $204,070 in February 2024. The
increase in operating revenue is primarily due to the significant increased conference income and corporate donations.

•Year-to-date operating revenue is $1,042,281, compared with the year-to-date budget of $334,592 and annual budgetof $3,430,997. During the same period in the prior year, year-to-date operating revenue was $899,452.

•Total operating expenses for the month of March 2024 were $200,562, compared with $247,956 in February 2024.
The decrease in expenses are driven by the decreased community outreach expenses, conference expenses, andprofessional expenses.

•Year-to-date operating expenses are $604,941, compared with the year-to-date budget of $621,570 and annual
budget of $3,179,830. During the same period in the prior year, year-to-date operating expenses were $671,811.

•After accounting for non-operating activity, the organization has recognized net income of $385,739 for the month ofMarch 2024 and a year-to-date net income of $438,101.

OWASP Foundation, Inc., Mar 2024

Page 1

Statement of Financial Position
STATEMENT OF FINANCIAL POSITION ($)

Mar 2024

Feb 2024

013,885

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

347,478

561,822Chase Savings-1751

1,493,134

1,186,932

9,000

9,000

Citizens Checking 4011
Citizens MM 2156
Chase Checking-9635
Affiliate - Cash
Total Cash & Equivalents

(10)

(10)

25,00025,341

98,31698,316

1,972,919

1,895,285

115,149

020,76010,956

Accounts Receivable
Accounts Receivable
Other Current Assets
Due from Eventbrite
Stripe Clearing
Funds held in PayPal

1,901

6,364

118,804

54,0932 month CD Acct #1170

100,0000

Total Other Current Assets

241,465

71,4132,329,533

1,966,699

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

10,253

8,663

10,253

8,663

2,339,787

1,975,362

Accounts Payable

31,61467,019Affiliate - Accounts Payable

3,093

3,093

34,707

70,112

Total Non-Current Assets
Total Assets

LIABILITIES
Accounts Payable

Total Accounts Payable
Other Current Liabilities
Credit Card

33,855

19,76368,56189,87600

68,56189,876

1,745,276

1,745,276

438,101

52,362

87,84987,849Total Net Assets

2,271,225

1,885,486

Total Liabilities & Net Assets

2,339,787

1,975,362

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., Mar 2024

Page 2Statement of Activities
STATEMENT OF ACTIVITIES ($)

Mar 2024

Feb 20242024 (YTD)

155,235

IncomeConference Income
Registrations

100,596

10,779Sponsorships

298,341

136,040

528,950

398,937

146,818

684,185

162

1,401

1,771

Corporate Supporters

102,945

12,000169,945

Individual

25,41027,26884,0630025,000128,355

39,268279,008

57,423

8,775

66,468

Total Conference Income
Donations
General Donations
Membership Income

Lifetime Membership
Total Membership Income
Miscellaneous Income
Uncategorized Income
Total Income

1,507

7,807

10,849586,384

204,070

1,042,281

3,903

ExpensesCommunity Outreach
Outreach

1,000

1,296

Shipping & Postage

91105

263Swag0

9,847

9,847

TravelTotal Community Outreach

45617

4,389

1,136

11,865

18,402

Conference Expenses
Audio & Video

026,452

26,452Fees - Registration

3,446

1,032

6,795

Food & Beverages

607

5,104

5,712

0786

786

3,216

700

3,916

Graphic Design
Lead Scanners, Lanyards, & Badges
Marketing

0700

700

Office Supplies & Equipment

02,0782,078

Software

25025

1,005

0

1,005

Swag00762

Tax Compliance

00703

5,488

4,100

9,588

Speakers Gifts

Training
Travel412

1,837

13,369Venue

43,88945,63688,28701,056

3,817

521

0

7,976

58,61089,481

171,971

Bank & Credit Card Fees

4117

140

Employee Recognition

0757

782

1,575

2,322

6,617

Speakers
Conference Expenses
Total Conference Expenses
General & Admin - Operations

Merchant Fees
Miscellaneous Fees

274

0274

OWASP Insurance

796

796

2,389

Shipping & Postage

79079
13,364

Software, Internet, Dues, & Subscriptions

5,667

4,206

Tax Compliance - US

0057

Tax Compliance - EU

2,864

272

3,136

OWASP Foundation, Inc., Mar 2024

Page 3

Mar 2024

Feb 2024

Travel

1,2212,753

4,013

Uncategorized Expenses

21,557

5,568

27,12634,038

16,791

57,976

Total General & Admin - Operations

2024 (YTD)

Local Chapter Expenses
Food & Beverages

467

0467

Meeting Expenses

6,394

2,003

9,895

Meetup

3,713

3,713

7,427

00

1,052

964

0

1,479

11,538

5,716

20,320Benefits

11,34910,84532,917Gross Wages

52,95953,303

153,329Your Membership
Insurance
Total Local Chapter Expenses
Personnel & Payroll

Payroll Processing Fee

811

242

1,285

Payroll Taxes

4,752

5,039

15,130PEO Admin & HR fees

2,357

2,778

7,831

344332981

72,57372,539211,474

Workers Comp
Total Personnel & Payroll
Professional Fees
Accounting - EU

00202

Accounting - US

5,490

12,60023,580Legal
Total Professional Fees

02,691

2,691

5,490

15,291

26,474

Project Expenses
Other expenses

147

0147

Services (UI/UX, Graphics, Translations)13,24928,05741,306

Summits

1,998

046,873

0

8,000

8,000

1,783

0

1,783

0215

215

17,17736,272

98,323Grants Writing
TravelProject Expenses
Total Project Expenses
Total Expenses

200,562

247,956

604,941

Operating Surplus/Deficit

385,822(43,886)

437,340

Interest Income
Interest Income
Earnings Before Tax

22

1962

385,844(43,868)

437,402

Adjustments
105(839)(699)

Change in Net Assets

Exchange Rate Gain/Loss

385,739(43,029)

438,101

Retained Income

385,739(43,029)

438,101

OWASP Foundation, Inc., Mar 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

155,2350155,235-893,925

Sponsorships

528,950

100,181428,768

427.99%1,299,450

Training
Total Conference Income

000-

371,100

684,185

100,181584,004

582.95%2,564,475

Donations
General Donations

1,771

3,870(2,099)-54.24%

15,481

Local Chapter

09,660(9,660)-100.00%

23,765

Projects

030,304(30,304)-100.00%

78,998

1,771

43,835(42,064)-95.96%

118,244

Corporate Supporters

169,945

106,250

63,69559.95%

425,000

Individual

84,06384,326(263)-0.31%

312,338

Lifetime Membership

25,000025,000-0

Total Membership Income

279,008

190,576

88,43246.40%

737,338

Miscellaneous Income

66,468066,468-

10,940

Uncategorized Income

10,849010,849-

01,042,281

334,592

707,689211.51%3,430,997

3,903

10,870(6,968)-64.10%25,641

263

0263-

373

9,847

09,847-

1,179

Total Donations
Membership Income

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

4,389

04,389-8,164

18,402

10,8707,532

69.29%

35,357

Conference Expenses
Audio & Video

26,45233,825(7,373)-21.80%211,949

Copying & Printing

000-

1,479

Fees - Registration

6,795

714

6,081

851.66%

6,059

Food & Beverages

5,712

0

5,712-

655,400

Graphic Design

786

250

536

214.50%

250

3,916

3,370

546

16.21%

9,707

700

200

500

250.00%11,000

000-

9,900

2,078

0

2,078-

650

0

3,500

(3,500)-100.00%

3,500

Postage & Shipping

000-

3,936

Software25025-

1,000

1,005

0

1,005-

650

7620762-

13,488

Lead Scanners, Lanyards, & Badges
Marketing
Miscellaneous
Office Supplies & Equipment
Photography

Speakers Gifts
SwagTax Compliance703

0703-0Training

9,588

09,588-235,000

Travel13,36916,000(2,631)-16.45%

176,578

Venue

88,287

132,756(44,469)-33.50%

198,112

Speakers

3,817

03,817-

13,244

Conference Expenses

7,976

7,761

215

2.77%

49,828

Total Conference Expenses

171,971

198,376(26,405)-13.31%

1,601,730

General & Admin - Operations
Awards and Member Benefits

06,825(6,825)-100.00%

8,511

Bank & Credit Card Fees

140

820

(680)

-82.92%

3,417

Employee Recognition

782

199

583

293.62%404

06,250(6,250)-100.00%

25,0006,617

20,094(13,477)-67.07%49,674274

0274-0Marketing, Communications, and Advertisi…
Merchant Fees
Miscellaneous FeesOWASP Foundation, Inc., Mar 2024

Page 5

2024 (YTD)

Office Supplies & Equipment

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

This year vs budget(% YTD)

Budget (full FY)

0468(468)-100.00%

925

2,389

2,422(34)-1.40%

10,220Phone Expenses

01,205(1,205)-100.00%

4,820

Professional Development

000-575

Shipping & Postage

79284(205)-72.24%548

13,364

24,210(10,846)-44.80%103,030

Tax Compliance - US57057-0Tax Compliance - EU

3,136

03,136-0Travel

4,013

2,693

1,320

49.04%

25,972OWASP Insurance

Software, Internet, Dues, & Subscriptions

Uncategorized Expenses
Total General & Admin - Operations

27,126027,126-

0

57,97665,471(7,495)-11.45%233,095

Local Chapter Expenses
Food & Beverages

467

0467-

0

Meeting Expenses

9,895

19,257(9,361)-48.61%

39,848

Meetup

7,427

3,180

4,247

133.58%47,333000-259Your Membership

1,052

01,052-0Insurance

1,479

01,479-3,750

20,32022,436(2,116)-9.43%

91,190TravelTotal Local Chapter Expenses
Personnel & Payroll
Benefits

32,917

39,779(6,861)-17.25%

159,114Gross Wages

153,329

180,402(27,073)-15.01%

721,607

Payroll Processing Fee

1,285

1,066

219

20.57%

4,246

Payroll Taxes

15,13014,432698

4.84%

57,729PEO Admin & HR fees

7,831

7,850

(18)

-0.23%

31,399

981

1,036

(55)

-5.32%

3,933

211,474

244,564(33,090)-13.53%

978,027

Workers Comp
Total Personnel & Payroll
Professional Fees
Accounting - EU

2020202-0

Accounting - US

23,58017,0706,510

38.14%

92,430Legal
Total Professional Fees

2,691

31,049(28,358)-91.33%57,903

26,474

48,119(21,646)-44.98%150,333

Project Expenses
Other expenses

147

0147

-0Services (UI/UX, Graphics, Translations)41,306041,306-0Summits

46,873046,873-0Grants Writing

8,000

0

8,000-

0

Travel

1,783

0

1,783

-

8,621

215

31,732(31,517)-99.32%

81,477

98,32331,732

66,590209.85%90,098

Project Expenses
Total Project Expenses
Total Expenses

604,941

621,570(16,629)-2.68%

3,179,830

Operating Surplus/Deficit

437,340(286,977)

724,318

252.40%251,166

Interest Income
Interest Income
Earnings Before Tax

62

062

-0437,402(286,977)

724,380

252.42%

251,166

Adjustments(699)

0(699)-0Change in Net Assets

Exchange Rate Gain/Loss

438,101(286,977)

725,078252.66%251,166

Retained Income

438,101(286,977)

725,078252.66%251,166

OWASP Foundation, Inc., Mar 2024

Page 6