OWASP 2022 Budget
APPROVED by Board of Directors at the January 2022 Board Meeting
2021 Financial Performance
With the assistance of OWASP’s 20th Anniversary, 2021 turned out to be a far better year than expected. The approved 2021 budget was exceeded in nearly all respects.
| Description | Budgeted | Actual | Percent |
|---|---|---|---|
| Income | $1,000,000 | $1,000,000 | 100% |
| Expenses | $1,000,000 | $1,000,000 | 100% |
2022 Income Forecast
Income in 2022 is projected to be $2.2 million, which is $1.1 million more than the 2021 actual.
2022 Expenses Forecast
Expenses in 2022 are up by x% since 2021. This is a good time to invest as we start to come out of the COVID era.
Future outlook
As we emerge from COVID, resuming in person events raises costs, but also raises income, which should only improve OWASP’s financial performance. We continue to look for ways to reduce expenses, such as eliminating make work and consolidation of platforms, and invest in ways to reduce costs, such as the new Association Management Platform.
Charity Spending Guidelines
Generally, it is best practice for non-profits to spend at least 80% of their funding on “Programs” - with the goal of getting to 85% or better. The FY22 budget forecasts the OWASP Foundation will spend 68.1% of its funds on Programming. A major goal is to get this to 80% by increasing revenue and maintaining low expenses through out the year.
FY 2022
Income CASH BASIS
Conferences
Registration
Global AppSec
Global AppSec Virtual EU $100,000
Global AppSec Virtual ASIA Pac $25,000
Global AppSec in person SF $265,000
AppSec Days
EU events $40,000
LASCON 2022 $85,000
Event Sponsorships
Global AppSec
Global AppSec Virtual EU $200,000
Global AppSec Virtual ASIA Pac $200,000
Global AppSec in person SF $400,000
Other Conferences
Career Fair $10,000
Training $50,000
Developer Summit $0
GSOC $6,000
Grant income $100,000
Bequests
Membership
Individual $300,000
Corporate $250,000
Fundraising and Donations
Corporate $50,000
Individual $30,000
Merchandise (drop shipping) $4,000
Trademark licensing $40,000
Interest
Total Income $2,155,000
Expenses
Events Program
Global AppSec Virtual EU $50,000
Global AppSec Virtual ASIA Pac $50,000
Global AppSec in person SF $520,000
Staff salary $182,560
LASCON 2022 $55,000
Entertainment based events
Career Fair $7,500
Training $18,080
Developer Summit $0
AppSec Days Seed Fund
Bonus/Commission $0
Projects and Technology Program
Project Virtual Summit (x2)
Online Books
Grants $90,000
Learning platform
Project Expenses $60,000
Awards
Scholarships
Marketing $18,000
Staff salary $183,813
Project Platform fees
Outreach and Marketing Program
Outreach Virtual Event
Merchandise costs
Grants
CC fees for membership $9,000
Awards
Scholarships
Marketing $18,000
Staff salary $81,009
Local Partnerships
Global Partnerships
Online
Branding & Trademarks
Event Promotions
Public Relations
Chapters and Members Program
Grants
Assoc mgt system $30,000
Awards
Chapter pool/seed funds $60,000
Scholarships
Membership rewards
Staff salary $66,672
Local Events
Chapter Platform Fees $40,000
WIA, Diversity and Inclusion
Grants
Expenses
Awards
Scholarships
Marketing
Staff salary $45,663
Local Events
WIA, Diversity and Inclusion Virtual Event (x2)
Education and Training
Grants
Expenses
Awards
Scholarships
Marketing
Staff salary $55,503
Education Virtual Summit (x2)
General and Administrative
Travel
Board F2F Meetings $25,000
Projects Summit Travel Assistance
General Travel Assistance
Staff $10,000
Legal & Insurance $20,000
Staffing
General & Administration $136,735
Fundraising & Development $69,214
US CPA $3,000
US Financial services $108,000
EU Expenses $43,000
Bank Service Charges $21,368
Other G&A $40,856
Software/Internet/Hosting $31,885
Portal & Web $4,871
Replacement tech contingency
Bad Debt $-
Total Expenses $2,154,732
P/L $268
Quarterly Plan
Q1 Q2 Q3 Q4 Total
Income $201,000 $591,000 $422,000 $941,000 $2,155,000
Expenses $338,683 $507,061 $338,683 $920,183 $2,154,732
$268
FY22 apportions program management and staff costs to program delivery, which is aligned with common non-profit accounting practices, and also ensures that each program delivery area has an opportunity to earn income, fundraising and sponsorships, rather than solely rely upon Foundation income from global events and event sponsorship.