Stories Behind the Stars was set up in February 2020 as a nonprofit initiative. The original plan was to take donations through a partner 501c3 nonprofit organization that would act as our fiscal sponsor.
It was a surprise and a big disappoint when this partner kept all donations it collected in 2020 that were meant for Stories Behind the Stars. We therefore had no gross receipts to report for 2020. About $6,000 of expenses were covered from personal funds.
In 2021 we switched to a different fiscal sponsor, Better Cause, a 501c3 set up by a friend from my banking days. We had $17,775 of gross receipts, mainly from a generous donation from MyHeritage. After $18,308 of expenses we had a net loss of ($533).
In 2022 an expected major donation did not transpire. Gross receipts were $4,625 and expenses were $9,484 for a net loss of ($4,858). The shortfall was covered from personal funds.
We are grateful for all those who have made donations to help cover costs. Any donors can request copies of complete profit and loss Schedule C's for 2021 and 2022 by emailing email@example.com.