Bible Pay

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  • Rob Andrews
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    • June 05, 2017, 08:09:04 pm
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Compassion Dec 2018 Recurring Sponsorships
« on: December 12, 2018, 10:51:24 am »
So let us all exercise a small recap with compassion.

After the HODL crash we decreased our child count to 100 (this is approx $3800 per month for 100 children).

We received a credit from compassion for the cancelled 229 memberships (and our revenue and expense records in IPFS and SQL match to the penny regarding the cancellation date and amount in which this credit took effect).

To see the state of our compassion credit balance as of 10-20-2018:
http://pool.biblepay.org/SAN/expenses/BiblePay_audit_2018.pdf

We had a credit of -$25,404.00 at that time.  I've been monitoring the situation to see how quickly we have been burning through the credit and approx at what date we will need to cancel more children.

Based on my projection we are down to -17804 as of this month (anticipating our normal monthly charge hitting around the 20th) meaning that we are down to a 4 month buffer.

I think in the spirit of our normal 6 month buffer we should be looking at canceling 50 more children in approx 60 days, if things dont improve.

As far as this months request, remember, last month we had such a terrible month we only gave $5 to 65% of our children (and requested a tiny 1 mil budget), and in light of that I have no choice to request approx. 6 mil bbp (as to not consume the entire charity budget) but we need to attempt to put a dent in this months amount owed of $3,800.00.

Therefore I request 6 mil this month.

Note that anyone can view the actual expenses and revenue by clicking "Accountability" in the pool.