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 during 2019 and 2020. *Updated on the 16th of November 2020.
COST
| CONCEPT | EXPLANATION | AMOUNT |
|---|---|---|
| Socks | Our first batch: 1,200 pairs of small Palau Socks and 1,200 pairs of large ones | €7.380,50 |
| Samples from factories | We ordered samples to make sure our product meets all expectations | €1.169,78 |
| Packaging: bags | Your socks come in a beautiful raw cotton bag you can use for anything you want | €840,88 |
| Packaging: cards | Your socks come with a card explaining our mission and helping to spread the love | €279,72 |
| Photographer | To take pictures of our cool socks and help spread the word about them | €285 |
| Legal & accountant | A company that set us up as a legal identity and manages all our tax forms | €1.214,84 |
| Tax | The initial tax we had to pay to create the company (an association) | €60,10 |
| IVA | Tax we pay on each of our sales | €330,21 |
| Donation | Donations we have made to date | €3.576 |
| Google Suite | This tool allows us to produce the socks and communicate with you as effectively as possible (12 months subscription) | €337,59 |
| Shopify | The platform that allows you to get your Palau Socks with one simple click | €871,90 |
| GoDaddy Domain | We have our website domain registered with GoDaddy | €78,19 |
| Marketing costs | To help us spread the love and achieve our donation goal | €500,00 |
| TOTAL | €16.924,71 |
INCOME
| CONCEPT | EXPLANATION | AMOUNT |
|---|---|---|
| Sales | Income from sales through our website | €9.333,80 |
Disclaimer: These numbers are up to date on the 13th of November 2021.