OUR FINANCES

We are very serious about what we do, and how we do it.

That is why it is important for us to be transparent about where the money goes.
Below, you’ll find an outline of all of our costs and sales to date. *Updated on the 6th of May 2020.

We are very serious about what we do, and how we do it.

That is why it is important for us to be transparent about where the money goes.
Below, you’ll find an outline of all of our costs and sales to date. *Updated on the 6th of May 2020.

COST

CONCEPTEXPLANATIONAMOUNT
SocksOur first batch: 1,200 pairs of small Palau Socks and 1,200 pairs of large ones€7.380,50
Samples from factoriesWe ordered samples to make sure our product meets all expectations €997,63
Packaging: bagsYour socks come in a beautiful raw cotton bag you can use for anything you want€840,88
Packaging: cardsYour socks come with a card explaining our mission and helping to spread the love€159,72
PhotographerTo take pictures of our cool socks and help spread the word about them€285
Legal & accountantA company that set us up as a legal identity and manages all our tax forms€320,65
TaxThe initial tax we had to pay to create the company (an association)€60,10
IVATax we pay on each of our sales€330,21
DonationDonations we have made to date€2.250
Google SuiteThis tool allows us to produce the socks and communicate with you as effectively as possible (12 months subscription)€193,34
ShopifyThe platform that allows you to get your Palau Socks with one simple click€186,32
GoDaddy DomainWe have our website domain registered with GoDaddy €47,68
Marketing costsTo help us spread the love and achieve our donation goal€400,00
TOTAL€13.472,03

INCOME

CONCEPTEXPLANATIONAMOUNT
SalesIncome from sales through our website €6.973,60

Disclaimer: These numbers are up to date on the 6th of May 2020