• Post category:Financial

Open Source Technology Improvement Fund’s Open Books for 2017

We have been late to the party on updating our open books for 2017. I have gone through and updated them finally today.


The big items of note:

-The OpenVPN Fundraiser has concluded and we beat our goals by a comfortable margin. These excess funds are being reserved for the bug bounty program which we aim to have active by the end of the FY2017.

-Our Paypal donations have been moved into our general funds account.

-We have liquidated all of our Bitcoins for USD. We sold our Bitcoins on an exchange on February 26th at an exchange rate of $1202 : 1 BTC, giving us a nice boost over the value of the BTC donations when they were made in November and December 2016.

-Most of the liquidated BTC funds have been moved to the general funds account.

Future Liabilities:

-We still need to pay for the OpenVPN audit by QuarksLab upon its conclusion.

-We still need to pay for T-shirt printing related to the OpenVPN fundraiser. While the first rounds of shirts has been printed and shipped, they contain some subtle misprinting errors and will need to be re-printed and re-shipped. The printer has agreed to eat the cost of reprinting the shirts in exchange for us shouldering the cost of the re-shipping.

We are not expecting these liabilities to exceed $66,500 in total costs to OSTIF.

Keep checking with us for more updates!