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Administration & Operation Costs
Grant Proposal
To cover normal and periodic administration and operation costs such as filing fees, agent fees to The Company Corporation for corporate presence in Delaware, retainer and expenses for Corporate Attorney or CPA, Board and Officers (B&O) Insurance, stationary and clerical support, and any other expense such as rent or utilities deemed by the Board to be included as an administration cost.
Such a grant may cover expenses for a single year, for several years, or for part of a year. Any grant not covering estimated expenses 5 years forward would be considered a partial meeting of the proposal.
Annual expenses are estimated by the President and are reflected in the current Budget, updated periodically. Recurring costs of maintaining corporate status and office supplies are approximately $500/year. Fair use payment of expenses incurred at the headquarters site, in exchange for rent, may amount to another $1,000/year. An annual audit by a CPA is estimated to be $1,000/year, when funding reaches the $25,000 minimum required by the IRS before tax forms submissions are required. Hiring a corporate attorney may be required at some point. B&O insurance is estimated at $3,000/year and should be secured before employees are hired or projects involving direct responsibility for the public's safety are started. Startup and operating costs for 1997, 1998, and 1999 were funded by the Board out of general revenue.