Accomplishments

In 2017, after becoming incorporated on May 15, the Boundless Love Project did the following:

• In partnership with the District 196 Community Education program, we taught one five-week meditation training, and four half-day Intro to Meditation workshops.

• We held 20 free weekly group meditations starting on August 1st. We did this in partnership with the Dakota County Library.

• We created the website, BoundlessLoveProject.org which freely offers our guided meditations, mindfulness trainings, and other resources to help people be more peaceful, loving, and joyful.

• We started an email newsletter to inspire our supporters’ mindfulness practices and inform them of new resources as they became available on our website.

Income and Expense Report

Income

Donations: $379.21
Total income: $379.21

Expense

Programs: $329.40 (67%)
Administrative: $162.59 (33%)
Fundraising: $0.00 (0%)
Total expenses: $491.99 (100%)

Net Balance

Total Income: $379.21
Total Expense: $491.99
Net Deficit: $112.78

Cash Flow Statement

Funds at Beginning of Year: $0.00
Net Deficit: $112.78
Interest-Free Loan: $3,000.00
Cash at End of Year: $2,887.22

Notes on Finances:

Our preferred method of operation is via a gift economy: our Mindfulness Teacher Freeman freely offers the teachings and trainings, and those inspired to give may give. When donations come in ear-marked for Freeman, they are split 50% to him and 50% to Boundless Love Project. The stipend paid to Freeman in 2017 was $135. Given that these donations are offered in thanks for the teaching he does, we designated 100% of his stipend towards programmatic activities.

Because the total money handled was low, our administrative expense percentage of 33% is higher than ideal. Administrative costs included the articles of incorporation filing fees ($70), post office box rental ($76), and fees related to opening a business checking account ($5).

Zero dollars were invested into fundraising, and that seems like the perfect amount to invest into it this year. Haha!

The interest-free loan was provided by one of our officers to help with cash flow issues as we get started.