A Brief Financial History & Roadmap 5/18/12 — 11:05 EDT

Forging the Future for End Users Like You!
(Revsion 1)
We are slowly working our way towards a secure and sustainable future.
To track our actual revenues and expenses, visit The IEUC Archives and consult our Annual Reports or our 990-EZ Information Returns for the most complete data.
Phase One — Prehistory
We started out talking to a lot of frustrated end users and equally frustrated researchers. We saw that often the best solutions never made it into your hands because the best people were trapped playing games in pursuit of funding, having to continuously drop promising lines of research as funding patterns shifted like the wind. Many of our colleagues expressed the dream of having an organization that could support them in what they wanted to do, a source of funding and support that would let them do what they knew was needed by focusing on the big picture.
Phase Two — Birth
We then built up a team and took that idea one step closer to reality by incorporating and winning IRS recognition as a Tax Exempt Public Charity. It took a very long time to lay this foundation with many bills coming due for the hard costs of legal and accounting expertise to do everything right from day one. These costs were paid for with internal debt that we need to pay down as quickly as possible, so our organization can finally stand on its own legs. This represents a lot of red ink on our balance sheet, but it also means that we aren't going away when some outside creditor comes looking for payment. The entire risk of failure is on our shoulders, so we are highly motivated to do a good job.
Phase Three — Our Current Belt Tightening
At this point, we are dramatically slowing our burn rate of capital and actively pursuing everything that doesn't require cash, so we can maintain a holding pattern while we gather support from End Users like you.
We are still loosing money, or more precisely, risking a greater financial loss if we can't attract donations since our professional service providers need to be payed up front - but this isn't a show stopper, since The Institute can be made financially whole with your support.
Phase Four - Sustainability
Our next goal is to bring in enough revenue to cover all ongoing expenses. When we reach this milestone, The Institute will be able to cover its hard costs without increasing its founder funded debt. Ideally, we would like to get to this point by the end of this year.
Phase Five - Solvency
The next objective will be to bring in more donations than our hard overhead, so we can pay down and eliminate our startup and operating deficit. This will mark The Institute's maturity and dramatically increase its credibility with institutional funding sources.
Phase Six - Maximum Impact
With our financial house in order, we will ramp up our fundraising activity and start to fund students at various University Labs to write code we can give away to you and build up a cash reserve to further increase our long term viability. At that point we can decide whether we can be more effective remaining a virtual organization or whether we need to launch a capital campaign to maintain administrative offices and lab space.

