SCIENCE: Difference between revisions

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[[Category:Definitions]]
[[Category:Definitions]]
SCIENCE, LLC (the Supreme Council Initiating and Empowering Nerdy and Cool Events) is a Limited Liability Company which was created to run the SNAFU Con event.
SCIENCE, LLC (the '''S'''upreme '''C'''ouncil '''I'''nitiating and '''E'''mpowering '''N'''erdy and '''C'''ool '''E'''vents) is a Limited Liability Company which was created to run the SNAFU Con event.


The owners of SCIENCE are Thomas and Beta. Beta was the original financial backer and is the accountant for the company. Although the company is a "for profit" company, all profits from the SNAFU Convention are put back into the convention itself. The company has no employees.
The owners of SCIENCE are Thomas, Sammich (Sam H.), and Beta. Beta was the original financial backer and is the accountant for the company. Although the company is a "for profit" company, all profits from the SNAFU Convention are put back into the convention itself. The company has no employees.


The owners are not paid, although equity is allocated to each partner. In 2018, Nathan leaving and taking his equity crippled the company (and therefore the con) bank account. As a result, the remaining parters put in place an agreement that no owner may take out of the company more than 5% of the actual money they put into it, even if they leave.  
The owners are not paid, although equity is allocated to each partner. In 2018, Nathan leaving and taking his equity crippled the company (and therefore the con) bank account. As a result, the remaining partners put in place an agreement that no owner may take out of the company more than 5% annually over the actual money they put into it, even if they leave (any remaining equity balance becomes a note payable over time).  
 
== Procedures ==
[[Renewing the City Business License]]


== Current Partnership ==
== Current Partnership ==
Current partnership owner percentage is Beta 66.67%, Thomas 33.33%.
Current partnership owner percentage is Beta 65.85%, Thomas 29.36%, Sammich 4.79%.




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* Thomas bought into the company as a 20% partner in 2015, changing ownership to 40% for each other partner.  
* Thomas bought into the company as a 20% partner in 2015, changing ownership to 40% for each other partner.  
* Nathan was a partner from 2010 through early 2018. The company paid him his entire equity balance.  
* Nathan was a partner from 2010 through early 2018. The company paid him his entire equity balance.  
* Sammich bought into the company in 2018.




==Financial Statements==
==Financial Statements==
Financial statements for 2017 have not been exported out of QuickBooks yet.




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  ! Balance Sheet
  ! Balance Sheet
  ! Income Statement
  ! Income Statement
! Net Income/(Loss)
|-
| 2022
| [[Media:Balance Sheet - FYE 2022-12-31.pdf|Balance Sheet]]
| [[Media:Income Statement - FY 2022.pdf|Income Statement]]
| ($8,730)
|-
| 2021
| [[Media:Balance Sheet - FYE 2021-12-31.pdf|Balance Sheet]]
| [[Media:Income Statement - FY 2021.pdf|Income Statement]]
| $3,830
|-
| 2020
| [[Media:Balance Sheet - FYE 2020-12-31.pdf|Balance Sheet]]
| [[Media:Income Statement - FY 2020.pdf|Income Statement]]
| ($8,117)
|-
| 2019
| [[Media:Balance Sheet - FYE 2019-12-31.pdf|Balance Sheet]]
| [[Media:Income Statement - FY 2019.pdf|Income Statement]]
| $2,858
|-
| 2018
| [[Media:Balance Sheet - FYE 2018-12-31.pdf|Balance Sheet]]
| [[Media:Income Statement - FY 2018.pdf|Income Statement]]
| ($436)
  |-
  |-
  | 2017
  | 2017
  | ''Pending''
  | [[Media:Balance Sheet - FYE 2017-12-31.pdf|Balance Sheet]]
  | ''Pending''
| [[Media:Income Statement - FY 2017.pdf|Income Statement]]
  | $8,688
  |-
  |-
  | 2016
  | 2016
  | [https://secure.snafucon.com/mw/images/8/8c/Balance_Sheet_-_FYE_2016-12-31.pdf Balance Sheet]
  | [[Media:Balance Sheet - FYE 2016-12-31.pdf|Balance Sheet]]
  | [https://secure.snafucon.com/mw/images/6/6c/Income_Statement_-_FY_2016.pdf Income Statement]
  | [[Media:Income Statement - FY 2016.pdf|Income Statement]]
| $4,753
  |-
  |-
  | 2015
  | 2015
  | [https://secure.snafucon.com/mw/images/b/b7/Balance_Sheet_-_FYE_2015-12-31.pdf Balance Sheet]
  | [[Media:Balance Sheet - FYE 2015-12-31.pdf|Balance Sheet]]
  | [https://secure.snafucon.com/mw/images/6/67/Income_Statement_-_FY_2015.pdf Income Statement]
  | [[Media:Income Statement - FY 2015.pdf|Income Statement]]
| $15,716
  |-
  |-
  | 2014
  | 2014
  | [https://secure.snafucon.com/mw/images/f/ff/Balance_Sheet_-_FYE_2014-12-31.pdf Balance Sheet]
  | [[Media:Balance Sheet - FYE 2014-12-31.pdf|Balance Sheet]]
  | [https://secure.snafucon.com/mw/images/8/8e/Income_Statement_-_FY_2014.pdf Income Statement]
  | [[Media:Income Statement - FY 2014.pdf|Income Statement]]
| $22,044
  |-
  |-
  | 2013
  | 2013
  | [https://secure.snafucon.com/mw/images/4/43/Balance_Sheet_-_FYE_2013-12-31.pdf Balance Sheet]
  | [[Media:Balance Sheet - FYE 2013-12-31.pdf|Balance Sheet]]
  | [https://secure.snafucon.com/mw/images/e/e3/Income_Statement_-_FY_2013.pdf Income Statement]
  | [[Media:Income Statement - FY 2013.pdf|Income Statement]]
| $9,953
  |-
  |-
  | 2012
  | 2012
  | [https://secure.snafucon.com/mw/images/6/64/Balance_Sheet_-_FYE_2012-12-31.pdf Balance Sheet]
  | [[Media:Balance Sheet - FYE 2012-12-31.pdf|Balance Sheet]]
  | [https://secure.snafucon.com/mw/images/c/c3/Income_Statement_-_FY_2012.pdf Income Statement]
  | [[Media:Income Statement - FY 2012.pdf|Income Statement]]
| $7,951
  |-
  |-
  | 2011
  | 2011
  | [https://secure.snafucon.com/mw/images/b/bc/Balance_Sheet_-_FYE_2011-12-31.pdf Balance Sheet]
  | [[Media:Balance Sheet - FYE 2011-12-31.pdf|Balance Sheet]]
  | [https://secure.snafucon.com/mw/images/c/cd/Income_Statement_-_FY_2011.pdf Income Statement]
  | [[Media:Income Statement - FY 2011.pdf|Income Statement]]
| ($2,689)
  |-
  |-
  | 2010
  | 2010
  | [https://secure.snafucon.com/mw/images/4/40/Balance_Sheet_-_FYE_2010-12-31.pdf Balance Sheet]
  | [[Media:Balance Sheet - FYE 2010-12-31.pdf|Balance Sheet]]
  | [https://secure.snafucon.com/mw/images/d/de/Income_Statement_-_FY_2010.pdf Income Statement]
  | [[Media:Income Statement - FY 2010.pdf|Income Statement]]
| $3,361
  |-
  |-
  | 2009
  | 2009
  | [https://secure.snafucon.com/mw/images/4/4c/Balance_Sheet_-_FYE_2009-12-31.pdf Balance Sheet]
  | [[Media:Balance Sheet - FYE 2009-12-31.pdf|Balance Sheet]]
  | [https://secure.snafucon.com/mw/images/c/c6/Income_Statement_-_2009.pdf Income Statement]
  | [[Media:Income Statement - 2009.pdf|Income Statement]]
| ($484)
  |}
  |}

Latest revision as of 21:05, 23 September 2023

SCIENCE, LLC (the Supreme Council Initiating and Empowering Nerdy and Cool Events) is a Limited Liability Company which was created to run the SNAFU Con event.

The owners of SCIENCE are Thomas, Sammich (Sam H.), and Beta. Beta was the original financial backer and is the accountant for the company. Although the company is a "for profit" company, all profits from the SNAFU Convention are put back into the convention itself. The company has no employees.

The owners are not paid, although equity is allocated to each partner. In 2018, Nathan leaving and taking his equity crippled the company (and therefore the con) bank account. As a result, the remaining partners put in place an agreement that no owner may take out of the company more than 5% annually over the actual money they put into it, even if they leave (any remaining equity balance becomes a note payable over time).

Procedures

Renewing the City Business License

Current Partnership

Current partnership owner percentage is Beta 65.85%, Thomas 29.36%, Sammich 4.79%.


Partnership Changes

  • The partnership started as Nathan, Beta, and Eddie.
  • Eddie left early on (2011?). No equity had been allocated to Eddie so there was no pay out.
  • Thomas bought into the company as a 20% partner in 2015, changing ownership to 40% for each other partner.
  • Nathan was a partner from 2010 through early 2018. The company paid him his entire equity balance.
  • Sammich bought into the company in 2018.


Financial Statements

Year Balance Sheet Income Statement Net Income/(Loss)
2022 Balance Sheet Income Statement ($8,730)
2021 Balance Sheet Income Statement $3,830
2020 Balance Sheet Income Statement ($8,117)
2019 Balance Sheet Income Statement $2,858
2018 Balance Sheet Income Statement ($436)
2017 Balance Sheet Income Statement $8,688
2016 Balance Sheet Income Statement $4,753
2015 Balance Sheet Income Statement $15,716
2014 Balance Sheet Income Statement $22,044
2013 Balance Sheet Income Statement $9,953
2012 Balance Sheet Income Statement $7,951
2011 Balance Sheet Income Statement ($2,689)
2010 Balance Sheet Income Statement $3,361
2009 Balance Sheet Income Statement ($484)
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