The ERPNext Foundation Crossed $50,000 Milestone

It was only in December 2016 when ERPNext Foundation was established to overlook the running of ERPNext as a community driven product. Just over a year later, the Foundation has successfully crossed its target goal of raising $50,000

Kudos to ERPNext community!

Foundation Financial Statement

Here are the quarter-wise insights into the finances of the ERPNext foundation so far.

| Account |Apr 17 - Jun 17 |Jul17 - Sep 17 |Oct 17 - Dec 17| Jan 18 (till 17/1)| Total | | Total Income | $ 33,454 | $ 9,205 | $ 10,676 | $ 5,385 | $ 5,7671 | | Total Expenses | $ 1,870 | $ 6,633 | $ 17,957 | $ 764 | $ 27,224 | | Net Profit / Loss | $ 31,584 | $ 2,572 | -$ 7,281 | $ 4,621 | $ 3,149 |

* Income and Expense Statement of the ERPNext Foundation in USD*

As you can see, our earnings have increased over time, so have the incurred expenses. One of the major spending areas in the last year has been the ERPNext Conference 2017 and hiring of new employees.

The foundation has also proposed to spend $2000 monthly on adding features requested by the community into the product.

An Insight Into Our Memberships

Memberships have been the only way of raising funds for the Foundation so far. Here is the breakup of memberships based on membership plans.

| MembershipNo. of Members | | | Gold - $5000 | 6 | | Silver - $2000 | 9 | | Individual - $200 | 50 |

Following is the country-wise break up of the same.

| Memberships from each CountryCountries | | 19 | India | | 7 | The United States of America | | 3 | Germany, United Arab Emirates, Saudi Arabia, Canada, Singapore | | 2 | Spain, Indonesia, Switzerland, France | | 1 | Mexico, Vietnam, Nigeria, Argentina, China, Australia, Taiwan, Egypt, Italy, Netherland, United Kingdom, Philippines |

The Road Ahead

Going into 2018 we have already set a target to raise $80,000 in funds!

The ERPNext foundation will soon be able to accept donations in India. The Foundation is currently in the process of applying for an 80G Certificate so that the donations made to the organisation are tax exempted.

If you are not a member of the ERPNext Foundation yet, you can become one by signing up for erpnext.org

Update: FOSS United Foundation is now the successor of the ERPNext foundation and has the same broad goals.