Monday, August 07, 2017

Summer 17 Financials

We've reconciled most of the summer expenses so maybe this will help you with your future planning or give you a baseline for comparison. This is all the big stuff even though there are some small incidentals here and there. Some notes below since this is The Ember Cast and nothing is ever straightforward around here.

11334 - Italy Airfare
3160 - Poland Airfare
1685 - Italy Lodging
1200 - Poland Lodging
~1500 - Poland on the ground costs including food, excursions, incidentals, etc.
~2200 - Food, for 2 weeks for both teams
350 - Insurance
1032 - In Country Transport
1900 - Future
58 - Bank fees
2577 - Ministry
~27200 - Total

Italy
- team of 6
- 13 days long
Poland
- team of 2
- 44 days long + 7 days in Italy

+ Two teams that overlapped in both time and locality means that some of the costs are shared and were not easily categorized.
+ We used two Airbnbs which were extremely inexpensive. Our team also felt like it gave us a better flavor for living like a local. I was a fan of Airbnb even before this trip - this is the definitely the way to go.
+ We had two people drop last minute so there was both a credit for airfare and some much smaller sunk costs due to one of the flights being non-refundable.
+ In country transport included a rental car, subway/tram and taxi fares.
+ We purchase overseas medical insurance for each person. We have a great insurance person - let me know if you need an intro.
+ The best way to get cash is to go to an ATM in country. My credit cards do not charge foreign transaction fees but my ATM cards do. Annoying.
+ Ministry costs included costs to do the stuff as well as some monetary funding to our partners.
+ In the case of the people that dropped last minute, when we can, we like to hold the money they raised to be applied to something they do in the future, whether it is with Ember or another 501C3 nonprofit.
+ Spending $27K in 13 days... Make no mistake, spending this kind of money every summer always gives me pause. When it comes to short term missions, we should always be asking whether this amount of time, money and energy is worth it but ask it with a 500 year horizon.

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