IPump - Profit and Loss Statement 2006

Site Sponsors

We provide assistance to qualifying persons with diabetes throughout the United States.

Profit and Loss Statement - 2006

Important notes

IPump.org, Inc. was not fully incorporated until June 6, 2006.
Most of the expenses shown during the first two quarters are related to starting the organization and includes the cash equivalent of donated time -- not actual cash or goods received.
With the exception of two donations totalling $44.00 all administrative expenses were underwritten by Lahle Wolfe, an IPump founder through her sole proprietorship known as Islets of Hope.
On December 31, 2006 a donor who wishes to remain anonymous contributed a (restricted) $10,000.00 donation to fund our programs beginning in January 2007.
We did not anticipate offering assistance our first 6 months but planned to focus on establishing our program guidelines, funding, filings, and website. When people found out about us they began asking for assistance. We could not (and did not) say no.

Financial Statement

	1st Qtr	2nd Qtr	3rd Qtr	4th Qtr	Year

Income*	10,000	11,680	12,353	23,835	57,868
Assistance Given Out	0	228	352	736	1,316
Other Expenses*	10,294	11,140	11,276	11,474	44,184

Profit or Loss	(294)	312	725	11,626	12,368

* Accounting standards for nonprofits require we report certain (GAAP) volunteer time as actual income contributions and then take it back out (the same amount) as an expense. Therefore, "Income" above includes $41,710 worth of donated volunteer time, not actual cash or goods received, for the year-end total.

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Line Itemization of Specific Expenses

Note: We did not receive any requests for assistance until late September as we did not even have our website up until early fall. Most of our first year expenses (6 months operation after incorporation) are attributed to start-up costs.

Assistance Given - Free Supplies	620
Assistance Given - Free Quilts	475
Financial Assistance - Cash to clients	58
Free Books & Pubs to Clients	163
Accounting fees	300
Office supplies	320
Telephone & telecommunications	298
Postage	88
Shipping to clients	152
Printing promotional (brochures, etc.)	604
Books, subscriptions, references	48
Web hosting and domain registration	120
Licenses and permit fees - other	69
State & local charity registration fees	25
Software & software licenses	417
Sales taxes paid	34
Incorporation & other organizational fees	78
Total Expenses*	$3,790

* Not including "Expenses" for donated volunteer GAAP services.

Line Itemization of Contributions

Cash Contributions*	12,675
Donated Medical Supplies	993
Donated Materials - Quilt Program	2,327
Donated Books & Pubs for Clients	163
Total Cash & In-Kind Donations**	16,158

* $10,000 was donated on 12/31/06 to fund our programs beginning in January 2007.

** Not including "Income" for donated volunteer GAAP services.

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Discount Diabetes Supplies

Sometimes we have to purchase supplies. Because our funding is so limited we need to use the cheapest sources possible. We have been using Hocks Online for a while and were pleased with their service and prices. Because of our good relationship with Hocks we agreed to accept them as IPump's first affiliate sponsor. While it is not our policy to specifically endorse or recommend any company, we can state that we do use Hocks Online, and that for any order you place through one of their links on our site, they will make a donation to us.

Thank you Hocks, for contributing to our cause!

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      Insulin is not a cure
      but without it a child
      with type 1 diabetes
      will die.

How to make a donation

Use your credit card or PayPal via the following donation button to make a donation online:

You can also send donations (make checks payable to IPump.org, Inc.) and in-kind donations of diabetes supplies and quilts to:

IPump.org, Inc.
2250 Alyssum Avenue
Upland, CA 91784-7384

You can also view our list of other organizations that can accept your donation of insulin pumps and supplies. Just please send them somewhere that they can go to others in need!