This is our internal profit and loss statement for June. We can't promise we'll post these every month cause of the work involved, but wanted to give people an idea on how things are going and what our finances look like. We're working on our budget for the next six months (basically how and will hopefully publish that soon too.
We had $15.8k come in this month, obviously that's mainly the Kickstarter ($15.7k), we’ve had $30.62 (37 paid purchases, 3 paid subscriptions) come in from our take rate, and $164 come in as direct support. Our take rate is up from May, when it was $26.07. We had a lot of purchases come through our platform during the Kickstarter, but that’s slowed down quite a bit. Our gifts are down significantly too, but that’s because of how Stripe’s 4 week payouts period landed in June (we’ve had one failed payment, which is functionality we should implement to notify the recipient and the person making the gift). We still have $97.71 to be paid out to us sitting in Stripe. We have 17 subscriptions which, before Stripe percentage, land us $310 a month.
We spent $1.3k in June, which doesn't include the cost of servers (on the 1st of June that got charged to one of our co-owners’ card, it was switched it over this month). The major expenses were travel to and from gigs, primarily the trip to Break Free Fest in Philadelphia. These expenses were for creating awareness for Mirlo by going into BIPOC spaces and building relationships.
April | May | June | ||
Bank balance EOM | $2,423.43 | $2,491.40 | $17,516.52 | |
Ordinary Income | ||||
Take rate | $13.42 | $26.07 | $30.62 | |
Kickstarter | 0 | 0 | $15,654.01 | |
Gifts (support on team) | $208.21 | $269.74 | $164.34 | |
Total Income | $221.63 | $295.81 | $15,848.97 | |
Cost of Goods Sold | ||||
Render | 0 | 0 | $0.00 | |
Sendgrid | 0 | $19.95 | $19.95 | |
Total Cost | $19.95 | $19.95 | ||
Gross Profit | $221.63 | $275.86 | $15,829.02 | |
Expense | ||||
Labor expense | ||||
Bank charges | ||||
Uber | $70.10 | $257.58 | ||
Gigs | $20.91 | $255.25 | ||
Reimbursements | $116.88 | |||
Transit | $350.48 | |||
Paper goods | $97.05 | |||
Food | $131.50 | |||
Airbnb | $224.07 | |||
Total Expenses | $208 | $1,315.93 | ||
Net profit | $67.97 | $14,513.09 | ||
Future costs |
While the Kickstarter is a great boost and can keep us around for a while, we need to cover at least our monthly expenses through our take rate, or through gifts to us.
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This is a companion discussion topic for the original entry at https://mirlo.space/team/post/74