NOTICE TO READER
On the basis of information provided by management, we have compiled the statement of financial position of Open Privacy Research Society as at February 10, 2019 and the statement of operations and changes in net assets for the initial year then ended.
We have not performed an audit or a review engagement in respect of these financial statements and, accordingly, we express no assurance thereon.
Readers are cautioned that these statements may not be appropriate for their purposes.
Financial Position as at February 10, 2019
| 2019 | ||
|---|---|---|
| Assets | ||
| Current | ||
| Cash | $ | 5364 |
| Short term investments | 11651 | |
| Prepaid expense | 47 | |
| $ | 17062 | |
| Liability | ||
| Current | ||
| Accounts payable and accrued liabilities | $ | 3805 |
| Net assets | ||
| Unrestricted | 13257 | |
| $ | 17062 |
OPEN PRIVACY RESEARCH SOCIETY
Statement of Operations and Changes in Net Assets
Initial Year Ended February 10
(Unaudited - See Notice to Reader)
| 2019 | ||
|---|---|---|
| Revenues | ||
| Donations | $ | 58,961 |
| Grants | 3,000 | |
| 61,961 | ||
| Expenditures | ||
| Wages and benefits | 32,369 | |
| Professional fees | 2,675 | |
| Interest and bank charges | 1,963 | |
| Web hosting | 629 | |
| Marketing | 197 | |
| Office | 158 | |
| Miscellaneous | 131 | |
| 38,122 | ||
| Excess of revenues over expenditures before other item | 23,839 | |
| Other item | ||
| Foreign exchange loss | (10,582) | |
| Excess of revenues over expenditures for year | 13,257 | |
| Net assets, beginning of year | - | |
| Net assets, end of year | $ | 13,257 |