Headquarters Expenses

During 1999, the President (Nancy), Vice President (Clipper), and Treasurer (Ron), as individuals, spent personal funds as well as time on matters relating directly to the corporation's interests. On December 10, 1999 Nancy secured personal real estate in Wisconsin, and shortly thereafter offered the partial use of the two front rooms, which have a separate entry, as the corporate headquarters and office. On March 29, 1999 Ron took up residence in a cottage on the premises, rent free, to work on site preparations and supervise general cleanup. In late July, the former owner (who was granted the right to live on the premises for a year) took an apartment and began to move out. On September 26, 1999 Nancy moved in, continued with cleanup and removation of the site, and prepared to secure a business licence and mailing permit for the corporation. At this point, the corporation is almost ready to open its doors for regular hours.

General Site Expenses: While taking possession of the headquarters site during 1999, Nancy spent $835 to replace the guttering system so water would not drain into the basement after hard rains, $882.93 on upgrading plumbing so a washer and dryer could be installed, $682.53 for mowers and saws and yard equipment, $750 to complete the chain link fence around the yard, $640 to Ron during the summer to compensate him for his cleanup efforts on the site in general, $501 for water loss due to a broken toilet in the cottage, $300 to the Village for sidewalk repair, $1,300 for real estate taxes, $345 (and mounting) for trash removal, various monthly mortgage and utility expenses, and over $3,000 in moving expenses. None of this relates directly to preparing the corporate offices and facilities.

Office Shared Expenses: During 1999, Nancy spent $3,065 on upgrading electric wiring on 1/2 of the house (3 circuits, including one to the corporate offices, and 220) to support the demands of modern appliances, and $311.52 on interior paint (6 rooms, including the 2 corporate offices). These offices are currently furnished free of charge by Nancy, the furnishings including a 2-seater sofa, a wooden desk and chair, a 386 PC with printer and scanner and tape backup, 2 filing cabinets, 4 book shelves, drawer dividers and a dozen 3-ring binders, an electric typewriter, various office supplies, a sofabed, and a metal desk. The portion of 1999 cleanup and upgrade expenses directly related to prepping the corporate offices and facilities used by the corporation includes $1,022 (1/3 the total) for the new electric circuit to the corporate offices, and $103.50 (1/3 the total) for interior paint.

Total: $1,125.50

 

Entry Expenses: During 1999, Nancy spent $82.06 on exterior stain and varnish remover (including entry to the corporate offices). Ron spent $171.47 for a presure washer, soap, and hose and $149.99 for a power paint sprayer (to clean and stain the house, including the front entry way). The portion of 1999 cleanup and upgrade expenses directly related to prepping the office entry used by the corporation includes $82.06 for exterior stain and varnish and $321.46 for equipment. The pressure washer and spray painter would then be the property of the corporation.

Total: $403.52

 

Basement/Ground Expenses: During 1999, Nancy spent $126.66 on lumber to replace rotting wood on the poarch and basement steps (which visitors would use to view on-site prototypes). Clipper spent $800 on plane fare in October, 1999 to provide free carpentry services. Ron spent $92.43 for an angle grinder and $29.99 on a cutting/welding torch to shear metal rods protruding from concrete (which visitors could trip over) and section metal trash for removal, and approximately $100 on miscellaneous supplies. The portion of 1999 cleanup and upgrade expenses directly related to prepping the poarch and basement for prototype viewing by visitors includes all of the above. The grinder and torch would then be the property of the corporation.

Total: $1,149.08

 

Cottage Expenses: During 1999, Nancy spent $325 for plumbing repairs, $327.15 for electrical repairs, $100 to trim trees blocking wiring to the cottage, and $76.80 to install a phone line (so Ron could take residence in March, 1999 and utilities could be turned on). All of this would not otherwise have been expended. Ron spent $108.99 on a circular saw to replace one owned by Nancy but burned out while upgrading the cottage door. The cottage, which has a full bath, would be used as a locked bathroom and guest quarters for official visitors to the site.

Total: $861.14

Grand Total: $3,539.24 Personal Funds Spent Relating to Corporation