2008

On January 2, 2008 the AAQI became a Michigan nonprofit corporation. During 2008 we have earned approximately $116,931.00 in profit. This will money will be used to fund Alzheimer's research. Here's how the numbers shake out:



"Money IN / Money OUT" Report
(January 1, 2008 to December 31, 2008)

Income:

Total Income: $135,242.61



Expenses:

  • Quilt Insurance for "Alzheimer's: Forgetting Piece by Piece:" $707.00
  • Licenses & Permits: $810.00
    • Incorporation Fee: $20.00
    • IRS Application for Exemption Application (IRS): $750.00
    • Charity Registration - State of Oklahoma: $15
    • Registration of Foreign Corporation - State of Texas: $25
  • Office Supplies: $176.15
    • Deposit Stamp: $20.00
    • Credit card processing device/set-up fee: $156.15
  • Supplies: $822.25
    • Curtain Rods/garbage bags/dowels to hang exhibit quilts: $163.87
    • Replacement Rubbermaid 55 gallon trash can to ship exhibit quilts: $57.53
    • Wire racks to organize auction quilts: $27.00
    • Adhesive-backed hang tags for quilt signs at sale: $42.94
    • Paper-cutter for quilt signs: $24.37
    • Long pins to display quilts: $18.42
    • Bulldog clips to display quilts: $6.67
    • Houston Booth Expenses
      • AAQI yard sign and booth apron: $35.78
      • Highlighters to color-code quilt tags by day sold: $18.63
      • Phone line to process credit card sales in booth: $427.04
  • Telephone ($24.99/month + taxes): $380.96
  • Web Page Hosting & Revenue Share ($39.95/month + 1.5% of sales): $798.15
  • Café Press Web Hosting ($6.95/month): $13.90
  • Credit Card Processing Fees: $2,100.04
  • Bank Service Charge (checks, new account fee, money order fee): $13.25
  • PayPal Processing Fees: $80.19 (for eBay auctions only)
  • eBay.com Listing and Final Value Fees: $205.95 (February and March 2008 auctions only)
  • Attorney Fees: $1,900.00
  • Accountant Fees: $885.00
  • Fulfillment Services: $3,190.50
  • Freight: $5,912.03
  • Michigan Sales Tax: $136.15
  • Travel: $67.50
        Airline fees to use miles for 3 "free" tickets to Houston (2008)


Total Expenses: $18,199.02



Profit for 2008: $116,931.00


The AAQI is a totally volunteer organization. No individual is compensated in any way for their work.

If you've got any questions, just ask Ami.



Ami Simms
Founder & Executive Director, AAQI