We Patch is an enterprise whose mission is other than to generate profit. Why the legalese and italics? Because the IRS generally frowns on the use of nonprofit, not-for-profit, or other synonymous phrases for any organization that does not have 501(c) status.
Our primary mission is to promote local, sustainable agriculture by providing access to garden space. For various reasons, this mission is best served without tax-exempt status. Nonetheless, all funds donated to We Patch are dedicated solely to fulfilling our objectives. Expenses include website design and maintenance, community gardening programs, and promotional materials, among others. We Patch is run entirely by unpaid volunteers; we do it for love (and fresh produce).
Aside from private donations, We Patch also generates income through advertising and contracted work (such as advocacy, education, and environmental planning). Currently, this income is used to repay the loans that got We Patch on its feet. Once those debts have been paid, these sources of income will also be devoted exclusively to fulfilling our objectives.
We believe that organizational transparency is a virtue. Thus, as of the summer of 2010, we make copies of our financial records available below to all We Patch members. These records detail all expenses, donations, and income on a quarterly basis. Naturally, we can not jeopardize our finances by providing facsimiles of actual bank statements. Instead, we offer itemized summaries in spreadsheet format.
We hope that this explanation clarifies our financial circumstances, and we invite your questions and suggestions.