Statement of Financial Disclosure
As a nonprofit organization, Gathering Beans is committed to operating with integrity, accountability, and transparency. In accordance with IRS and state regulations, we carefully track all donations, expenses, and invoices to ensure funds are used responsibly and in alignment with our mission.
As we continue our journey and complete the setup of our online profit and loss reporting system, we will share quarterly updates on how funds are used. We strive to provide clear financial records so our donors, partners, and community can trust that every contribution directly supports our programs and services.
Proposed Allocations from Initial Donations
The proposed use of our initial donations will support the development of merchandise for local events and marketing efforts to help generate sustainable income for Gathering Beans. All proceeds and revenue will be fully reinvested back into the nonprofit to expand programs and increase community impact.
A portion of the initial donations will be allocated toward essential startup costs, including legal services, CPA support, and required registrations with the IRS and state agencies to ensure proper compliance and long-term sustainability.
Additionally, part of the collected donations will be used to maintain software subscriptions, financial systems, and website hosting and maintenance to support daily operations and transparency.