Management ReportOWASP Foundation, Inc.
April 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 April 2024, cash increased by $22,720, leaving an ending cash balance of $2,077,663. The
difference between the cash increase and and net income is due to revenue recorded but not yet received in the month ofApril.

•

Other current assets were a total of $356,422 and are made up of funds due from PayPal, Stripe, Chase CD, andEventbrite.

•Accounts receivable is $573,924 as of April 2024. This balance is made up of receivables due from Conference
attendees.

•Accounts payable is $53,148 as of April 2024 and is primarily made up of monies owed to CP Woburn subsequently
paid in May.

•Credit Card balance is $22,084 as of April 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 April 2024 was $810,937, compared with $656,380 in March 2024. The
increase in operating revenue is primarily due to the significant increased conference income and corporate and project
donations.

•Year-to-date operating revenue is $1,923,214, compared with the year-to-date budget of $482,461 and annual budgetof $3,430,997. During the same period in the prior year, year-to-date operating revenue was $959,154.

•The revenue budget variance is largely due to receiving conference revenues earlier than anticipated, rather than a netincrease in anticipated conference revenue for the year. Membership revenue has exceeded year to date budget
expectations by $177,411 as of April.

•Total operating expenses for the month of April 2024 were $215,617, compared with $201,079 in March 2024. The
increase in expenses are driven by the increased project and professional expenses.

•Year-to-date operating expenses are $821,074, compared with the year-to-date budget of $765,725 and annual
budget of $3,179,830. During the same period in the prior year, year-to-date operating expenses were $927,642.

•After accounting for non-operating activity, the organization has recognized net income of $595,343 for the month ofApril 2024 and a year-to-date net income of $1,102,923.

OWASP Foundation, Inc., Apr 2024

Page 1

Statement of Financial Position
STATEMENT OF FINANCIAL POSITION ($)

Apr 2024

Mar 2024

5,005

5,000

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

492,518

347,753

Chase Savings-1751

1,493,160

1,493,134(36,326)

85,750Citizens Checking 4011
Citizens MM 2156
Chase Checking-9635
Affiliate - Cash
Total Cash & Equivalents

(10)

(10)

25,00025,00098,31698,3162,077,663

2,054,943

573,924

108,149

45,59820,760Accounts Receivable
Accounts Receivable
Other Current Assets
Due from Eventbrite
Stripe Clearing
Funds held in PayPal

3,081

1,901

207,743118,804

2 month CD Acct #1170

100,000

100,000

Total Other Current Assets

356,422

241,465

3,008,009

2,404,557

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

3,270

10,253

3,270

10,253

3,011,279

2,414,811

Accounts Payable

50,05537,026

Affiliate - Accounts Payable

3,093

3,093

53,14840,119Total Non-Current Assets
Total Assets

LIABILITIES
Accounts Payable

Total Accounts Payable
Other Current Liabilities
Credit Card

22,08433,98775,232

74,10600

75,232

74,106

1,745,276

1,745,276

1,102,923

507,580

87,84987,849Total Net Assets

2,936,048

2,340,705

Total Liabilities & Net Assets

3,011,279

2,414,811

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., Apr 2024

Page 2

Statement of Activities
Apr 2024

Mar 2024

Registrations

118,441

100,596

273,676

Sponsorships

476,498

355,750

1,069,856

594,939456,345

1,343,532

General Donations

5,914

162

7,685

Projects

27,000027,000

32,914

16234,685

Corporate Supporters

118,980

102,945288,925

Individual

25,04025,410109,1030

025,000
423,028

STATEMENT OF ACTIVITIES ($)

2024 (YTD)

IncomeConference Income

Total Conference IncomeDonations

Total Donations
Membership Income

Lifetime Membership
Total Membership Income

144,020

128,355

Miscellaneous Income

4

14

9,063

Uncategorized Income

39,061

71,503112,906

810,937

656,380

1,923,214

Outreach

01,000

3,903

Shipping & Postage

091

263

3,266

013,114

Total Income
ExpensesCommunity Outreach

SwagTravel
Total Community Outreach

670

45

5,059

3,936

1,136

22,33926,452

Conference Expenses
Audio & Video00

Copying & Printing

1200120

Fees - Registration

5,004

3,446

11,799

Food & Beverages

10,193607

15,904

00786

3,115

3,216

7,032

0413

1,113

215

0215

Office Supplies & Equipment

00

2,078

Software025

25

Speakers Gifts

01,005

1,005
3,270

Graphic Design
Lead Scanners, Lanyards, & Badges
Marketing
Miscellaneous

Swag

2,508

0Tax Compliance

00703

Training

0

5,488

9,588

Travel7,558

412

20,927

Venue

3,000

43,88991,287

Speakers

1,233

05,050Conference Expenses

1,047

521

9,023

Total Conference Expenses

33,99359,022

206,377

1,383

250

1,769

00782
7,935

General & Admin - Operations
Bank & Credit Card Fees
Employee Recognition
Merchant Fees

1,318

1,575

Miscellaneous Fees

673

0673

OWASP Insurance

10,658796

13,047

Shipping & Postage

13379212

OWASP Foundation, Inc., Apr 2024

Page 3

Software, Internet, Dues, & Subscriptions

Apr 2024

Mar 2024

2024 (YTD)

23,088

6,560

8,831

Tax Compliance - US

0057

Tax Compliance - EU

02,8643,136

Travel5,089

18,33930,679Uncategorized Expenses14,830

463

16,40240,64433,19897,779Total General & Admin - Operations
Local Chapter Expenses
Food & Beverages

0467

467

Meeting Expenses

2,827

6,394

12,722

Meetup

3,713

3,713

11,140Your Membership

00

1,052

Insurance

0

964

1,479

6,540

11,53826,860Benefits

9,464

11,34942,381Gross Wages

44,942

52,959198,271

227

257

957

Payroll Taxes

4,145

4,752

19,275PEO Admin & HR fees

2,645

2,911

11,031

318

344

1,299

61,74072,573

273,214

Total Local Chapter Expenses
Personnel & Payroll

Payroll Processing Fee

Workers Comp
Total Personnel & Payroll
Professional Fees
Accounting - EU

00202

Accounting - US

13,4905,490

37,070Legal
Total Professional Fees

6,467

09,158

19,957

5,490

46,430

Project Expenses
Other expenses

0147147

Services (UI/UX, Graphics, Translations)

1,890

14,194

44,141

Summits

45,411

1,998

92,284

00

8,000

1,506

1,783

3,288

00

215

48,807

18,122148,075

Total Expenses

215,617

201,079

821,074

Operating Surplus/Deficit

595,320455,301

1,102,140

Grants Writing
TravelProject Expenses
Total Project Expenses

Interest Income
Interest IncomeEarnings Before Tax

26

2288

595,346455,323

1,102,227

Adjustments
3105(696)

Change in Net Assets

Exchange Rate Gain/Loss595,343455,219

1,102,923

Retained Income

595,343455,219

1,102,923

OWASP Foundation, Inc., Apr 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

273,6760273,676-893,925

Sponsorships

1,069,856

188,290881,566468.20%1,299,450

Training
Total Conference Income

000-

371,100

1,343,532

188,290

1,155,242

613.54%2,564,475

Donations
General Donations

7,685

5,160

2,524

48.92%

15,4810

11,445(11,445)-100.00%

23,76527,00031,948(4,948)-15.49%78,99834,68548,554(13,869)-28.56%

118,244

Corporate Supporters

288,925

141,667

147,258

103.95%425,000

Individual

109,103103,951

5,152

4.96%

312,338

Lifetime Membership

25,000025,000-

0

Total Membership Income

423,028

245,617

177,41172.23%

737,338

Miscellaneous Income

9,063

09,063-10,940Uncategorized Income

112,906

0112,906-

01,923,214

482,461

1,440,753

298.63%3,430,997

3,903

12,303(8,400)-68.28%25,641

263

0263

-

373

13,114013,114-

1,179

Local Chapter
Projects
Total Donations
Membership Income

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

5,059

05,059-8,164

22,33912,303

10,03681.57%

35,357

Conference Expenses
Audio & Video

26,45235,574(9,122)-25.64%211,949

Copying & Printing

120

0120

-

1,479

Fees - Registration

11,799

1,12410,675

949.73%

6,059

Food & Beverages

15,9040

15,904-655,400

Graphic Design

786

250

536

214.50%250

Lead Scanners, Lanyards, & Badges

7,032

3,370

3,662

108.65%

9,707

Marketing

1,113

500

613

122.50%11,000215

1,500(1,285)-85.67%

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

Speakers Gifts

1,005

0

1,005-

650

Swag

3,270

03,270-13,488

Miscellaneous
Office Supplies & Equipment
Photography

Tax Compliance703

0703-0Training

9,588

0

9,588

-

235,000

Travel20,92725,073(4,146)-16.54%

176,578

Venue

91,287150,256(58,969)-39.25%

198,112

Speakers

5,050

0

5,050

-

13,244

Conference Expenses

9,023

7,761

1,262

16.26%

49,828

Total Conference Expenses

206,377

228,908(22,531)-9.84%

1,601,730

General & Admin - Operations
Awards and Member Benefits

0

6,825

(6,825)-100.00%

8,511

Bank & Credit Card Fees

1,769

1,329

439

33.06%

3,417

Employee Recognition

782

199

583

293.62%

404

0

8,333

(8,333)-100.00%

25,000

7,935

23,064(15,130)-65.60%49,674673

0673-0Marketing, Communications, and Advertisi…
Merchant Fees
Miscellaneous FeesOWASP Foundation, Inc., Apr 2024

Page 5

2024 (YTD)

Office Supplies & Equipment

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

This year vs budget(% YTD)

Budget (full FY)

0482(482)-100.00%

925

13,047

3,259

9,788

300.38%

10,220Phone Expenses

01,607(1,607)-100.00%

4,820

Professional Development

000-575212

289(77)-26.57%548

23,08832,409(9,321)-28.76%103,030Tax Compliance - US57

057-0

Tax Compliance - EU

3,136

03,136-0Travel

30,6793,317

27,363824.94%25,972OWASP Insurance

Shipping & Postage
Software, Internet, Dues, & Subscriptions

Uncategorized Expenses
Total General & Admin - Operations

16,4020

16,402-097,779

81,112

16,66720.55%

233,095

Local Chapter Expenses
Food & Beverages

467

0467

-0

Meeting Expenses

12,722

23,333(10,610)-45.47%

39,848

Meetup11,140

6,245

4,896

78.39%

47,333000-259Your Membership

1,052

01,052-0Insurance1,479

1,000

479

47.95%

3,750

26,86030,578(3,717)-12.16%

91,190TravelTotal Local Chapter Expenses
Personnel & Payroll
Benefits

42,38153,038(10,657)-20.09%159,114Gross Wages

198,271

240,536(42,265)-17.57%

721,607957

1,318(361)-27.37%

4,246

Payroll Taxes

19,275

19,24333

0.17%

57,729PEO Admin & HR fees

11,031

10,633398

3.75%

31,399Workers Comp

1,299

1,361(63)-4.60%

3,933

273,214326,129(52,915)-16.23%

978,027

Payroll Processing Fee

Total Personnel & Payroll
Professional Fees
Accounting - EU

202

0202-0Accounting - US

37,07022,76014,31062.87%

92,430Legal
Total Professional Fees

9,158

31,660(22,502)-71.07%

57,903

46,43054,420(7,990)-14.68%150,333

Project Expenses
Other expenses

147

0147

-

0Services (UI/UX, Graphics, Translations)44,141044,141-0Summits

92,2840

92,284-0Grants Writing

8,000

08,000-0Travel

3,288

0

3,288

-

8,621

215

32,275(32,060)-99.33%

81,477148,075

32,275

115,799358.79%90,098

Project Expenses
Total Project Expenses
Total ExpensesOperating Surplus/Deficit

821,074

765,725

55,3497.23%

3,179,830

1,102,140(283,264)

1,385,403

489.09%251,166

Interest Income
Interest Income
Earnings Before Tax

88

088

-0

1,102,227(283,264)

1,385,491

489.12%

251,166

Adjustments(696)

0(696)-0Change in Net Assets

Exchange Rate Gain/Loss

1,102,923(283,264)

1,386,187

489.36%251,166

Retained Income

1,102,923(283,264)

1,386,187

489.36%251,166

OWASP Foundation, Inc., Apr 2024

Page 6