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:

• Book Profit: $18,899.39
• Priority: Alzheimer's Quilts: $65,040.90
• Exhibit Rental: $9,820.00
• Donations: $22,117.24
• Little Treasures Quilts: $10,501.75
• CD Profit: $1,946.90
• AAQI Gear (Café Press): $625.82
• Note Cards Profit: $97.50
• Napkin-Dispensing Quilt Holders profit: $79.55
• Amazon.com Affiliate Program: $120.56
• iGive.com Affiliate Program: $137.94
• Postage Income: $4,586.48
• Insurance Income: $653.35
• Interest Income: $40.00
• Michigan sales tax collected: $112.56
• GoodSearch.com and GoodShop.com*: $301.87
• Texas Sales tax collected: $160.80

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