Maitri,

I apologize for the confusing presentation. I was reporting for the 6 months Jan-Jun in 2026 compared to 2025., so your numbers are appropriate for a 6 month budget. I am putting together a 12-month budget. The total revenue projected is $206,200. Also note that the 25K grant needs to be treated differently from a gift - we should only count the amount spent towards the grant budget as current year revenue, the rest should count as next fiscal year revenue for budgeting purposes.

On Jun 19, 2026, at 8:46 PM, Maitri Erwin <maitri.erwin@gmail.com> wrote:

Hi everyone,

Ahead of tomorrow's meeting, I have reviewed the inherited FY24-25 actuals and the FY25-26 spend vs budget. Below is a simple view of the FY25-26 year to date, and a simple forward budget proposal for FY26-27 built on the recurring rate for the past two fiscal years.

Items to note:

1.  The headline surplus of ~$548K is almost entirely a one-time event: a $500K legacy bequest plus a $25K grant, neither of which was budgeted.
2.  Stripping those out, the true operating result is a modest surplus of ~$23K, roughly on plan.
3.  In my view, income is otherwise tracking close to budget; expenses are running well under budget (~77%), helped by the closed Utah office and no hardware spend. Let's confirm this.
4.  Two things for Eric to clarify: the $4,385 in Royalties (marked 'source unknown') and the D&O Insurance line ($1000 budgeted, nothing spent yet).
5.  The original Total Expenses formula may have left out the $1000 Volunteer Education (Laura Brady) line. It's now included, so the budgeted surplus I'm assuming here is ~$1705 (vs. $2705 in the original). Eric, please verify on your end.
6.  The Payroll line keeps the reported total ($36,996.54). Its sub-items add to ~$37,055, which is a ~$58 difference in the original. Again, Eric, please re-run and verify.
7.  For the sake of my own clarity, I have prepared a cleaned-up version of the spreadsheet that I can share during our call tomorrow.

Key figures FY25-26 YTD FY26-27 Proposed
Total Income $605,708.05 $83,000.00
Total Expenses $59,101.40 $68,600.00
Net Income / Surplus $548,461.04 $15,900.00
   of which: one-time gifts $525,000.00 –
Net Income excl. one-time gifts $23,461.04 $15,900.00

Thanks,
Maitri

On Thu, Jun 11, 2026 at 2:23 PM Eric Hellman <eric@hellman.net> wrote:
For for 26-27, we'll only have budget comparisons  to 25-26. You are welcome to glean prior years info from the 990s available from the link I sent.

Eric Hellman
Executive Director
Project Gutenberg

If you appreciate the work we do, donations are always appreciated! https://www.gutenberg.org/donate/

On Jun 11, 2026, at 2:11 PM, John Guagliardo <john.worldlibrary@gmail.com> wrote:

Eric,

Can I ask your help to clarify the previous years’ spending with your budget for 2026.  You seem to be combining half years of 2024/2025 and 2025/2026 and missing annual totals.  It’s really confusing to review and evaluate.  

Before voting on approving this years budget we will need to compare 2026 operating budget to 2025 and 2024 spending so we can better understand what is being achieved. When presenting this budget please make available for the board the previous few years actual spending along side 2026.  This information should be readily accessible for us.  

Best regards,

John

-------------
John Guagliardo Ph.D
Executive Director
World Library Foundation 
(415) 237-3054
Skype: WorldLibrary
John@WorldLibrary.org



World Library
Where the World Goes to Read
WorldLibrary.org

On Jun 9, 2026, at 8:32 AM, John Guagliardo <john.worldlibrary@gmail.com> wrote:

Eric,

I think we should compare this operating budget to previous years 5 years so we can better understand what is being achieved by the substantial increase in spending. When presenting this budget please make available for the board the previous 5 years actual spending as well.  This information should be readily accessible with the 990s we have in file.  Did Newby have any CPA documents or spreadsheet on his budgets you can provide us to clarify the historic costs.  

Please remember this board hasn’t had the opportunity to review the previous year’s financial reports as you have.  Without this additional expense reference we would not be able to make informed votes.  

Regards,

John

-------------
John Guagliardo Ph.D
Executive Director
World Library Foundation 
(415) 237-3054
Skype: WorldLibrary
John@WorldLibrary.org



World Library
Where the World Goes to Read
WorldLibrary.org

On Jun 8, 2026, at 10:28 AM, Eric Hellman <eric@hellman.net> wrote:


In preparation for our board meeting on the 20th, I have started working on a budget for the 2026-2027 fiscal year. The first step is to assess our financial performance vs budget for the current fiscal year; we only had a budget for Jan-Jun. Attached is a spreadsheet showing the actuals through today.

The revenue side looks quite good; I've separated out the legacy donation and the grant from the Manton Foundation; even without those, our income is already $1,200 over budget, and I expect several thousand more by the end of the month.

On the expenses side, we are $18,000 under budget, and even with one payroll left to go, we should finish at about $10,000 under budget.

I am planning to present a budget to you totalling at about $210,000 for 2026-2027, which will include about 20,000 of spending paid for by the grant we received. Only about $5K of the 25K grant will have been spent in the current fiscal year.

Eric

<q34-25-26-budget-actual.xlsx>



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