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40 years, 40 dollars and a bicycle |
Finances Almost all of the money donated to the fund has gone to the villagers. To date the fund has had three expenses
- PayPal Fees--When people contribute over the Internet using PayPal, PayPal charges a fee of 2.9% plus $.30 per transaction.
- Cost of Checks-- $16.
- IRS fee to apply for tax-exempt status--$300. (The IRS granted tax exempt status on March 6, 2008, retroactive to the inception of the fund. All contributions qualify as deductions from federal income tax.)
The fund maintains financial records of all contributions and expenses. Following is a summary by year.
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2006 |
2007 |
| Contributions (Net of PayPal Fees) |
$2318 |
$2078 |
| Expenses |
$16 |
0 |
| Subtotal |
$2302 |
$2078 |
| Purchases for Village |
$1000 |
$2940* |
| Remaining Balance at end of year |
$1302 |
$440 |
| *For our Jan. 2008 visit, the funds were disbursed in 2007, but the celebration was in 2008. |
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