FinancialPolicy

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{{Template:OutOfDate}}
  
NoiseBridge Finance Policy (and related considerations)
+
==NoiseBridge Finance Policy - Currently in Draft for Discussion form==
Draft for Discussion  
+
  
 +
===Minimum Reserve===
  
Minimum Reserve
+
It seems reasonable to create a NoiseBridge bank account. It should have at least six months' expenses to pay rent, insurance, ISP, power, and for various consumable supplies. Currently we're in the burn rate evaluation phase. Once we've determined our average monthly burn rate, we'll know how much we should keep in the bank.
  
A NoiseBridge bank account should have at least six months'
+
NoiseBridge should fund raise if our bank account balance falls below five months of our average burn rate. It seems reasonable to continue until balance exceeds seven months or more of a nice money cushion.
expenses to pay rent, insurance, ISP, power, and various
+
supplies.  
+
  
NoiseBridge should run a funding drive if balance falls
+
We may have rent parties in the same spirit as NYC Resistor. We may also simply make phone calls and ping our network. We may want to teach classes but it's counter to our spirit to charge for them (except possibly for parts cost, this TBD). If we're really feeling adventurous, we can apply for grants.
below five months, to continue until balance exceeds
+
seven months.  
+
  
Consider having parties as part of funding drives. What
+
===Bank Account Access===
other events and efforts?
+
  
[Per Jake, 20080930: ] This is very much in line with
+
Noisebridge corporate account will probably have debit cards or checks. The board should allocate some petty cash for having in the space and will otherwise sign checks as stipulated by the membership. Anyone that's signing checks will also report financial status updates in an open manner.
what we've been trying to do. So far we've raised pledges
+
of around $10,500USD. [EndJake]
+
  
 +
The finances will be published, hopefully in real time. Transparency is key. We want to avoid major issues with
 +
money by letting it all hang out.
  
Bank Account Access
+
We'd like someone to help research a second short-term CD or other interest-bearing account as a complement to the checking account. Such an account should have a restriction to control release of funds. It seems reasonable to have funds released to the checking account only.
  
Noisebridge corporate account checks should require two
+
===Member Dues===
signatures, any two of four Noisebridge members may sign
+
checks (or all board members or all officers may sign
+
checks: the important point is to require two signatures
+
for a check). Those who can sign checks should also have
+
the responsibility for reporting current financial status
+
at regular times.
+
  
[Per Jake, 20080930: ] It's possible that we'll implement
+
We have two official Membership rates, both with the same privilages and responsibilities. The rate you choose is up to you, and you can change it at any time.
something like this. I suspect thelimiting factor is  
+
two-fold:
+
    1) Banks are probably not going to like this very much.
+
    2) Members may not be happy with any two people being
+
able to drain the bank account.
+
  
Remember that we've structured the (soon to be) 501c3 in
+
The Regular Membership Dues are $80 per month. The Starving Hacker Membership Dues are $40 per month.
such a way that we're all capital 'M' "Members." This is
+
an important legal distinction and one that I'm really
+
happy about (we may live to regret it but we don't yet).
+
  
The finances will be published, hopefully in real time.  
+
'''[[Donate or Pay Dues| Click here for info on how to pay your Membership Dues]].'''
Transparency is key. We want to avoid major issues with
+
<br>
money by letting it all hang out. [EndJake]
+
<br>
  
Consider a second short-term CD or other interest-bearing
+
If you're planning to be a member for a year, consider a simple check or cash payment in one lump sum.
account as a complement to the checking account. Such an
+
account should have a restriction to control release of
+
funds, perhaps funds can only be released to the checking
+
account.  
+
  
[Per Jake, 20080930: ] This is a great idea. If you have
+
===Physical Supplies===
some suggestions for a bank that canhandle all of the
+
above, that would be wonderful! We've put up a lot of
+
banking stuff on the finances page. Do you have any
+
preference? [EndJake]
+
  
 +
Donations of equipment and other physical goods do not count as member dues. It certainly will help your reputation as being a generous member of the community but it won't pay the rent. It's possible that we'll consider exceptions as a membership. Consider donating things for NoiseBridge use, however - we do not accept things with strings attached.
  
Member Dues
+
We have drinks and food in the kitchen. Costs are being evaluated. It's an honors system bar. If it doesn't work, we'll change things.
 
+
Two-tier membership plan: higher tier pays a higher
+
monthly dues for unrestricted use; lower tier pays a
+
lower monthly dues but must also pay a per-use fee. All
+
payments must be by check.
+
 
+
[Per Jake, 20080930: ] Here's where we're going to
+
diverge. We're a flat organization. There are no "high
+
priests" here. We're not running a service center,
+
people won't just stop by and pay a daily use fee to use
+
the electronics lab. If people stop by to fix something,
+
we're hopefully not going to be so hard up that we can't
+
share with them. This is critical in fostering a good
+
relationship with our neighborhood and in bringing in
+
new people as something more than their so called
+
"worth" measured in dollars.
+
 
+
We will accept money in any form people want to send it.
+
Check, paypal, cash, anonymously blinded (David Chaum!
+
Why didn't you sell to visa or mastercard?!) e-cash,
+
e-gold, sacks of quarters, etc -
+
 
+
When we're officially a 501c3, we'll even issue specific
+
receipts to ensure people get the tax benefits they
+
expect. [EndJake]
+
 
+
Consider a vetting process for new members. SF Gem and
+
Mineral Society's vetting consists of prospective
+
members getting two current members to vouch for them
+
(first step is a short chat with each of the existing
+
members, second step has two members okaying the
+
prospect at a meeting, third step consists of new member
+
payment and receipt of a card.
+
 
+
[Per Jake, 20080930: ] We have a vetting process. In
+
short, people coming to the space need to be a part of
+
the community by being a part of the community.
+
[EndJake]
+
 
+
Consider issuing a NoiseBridge member card with a
+
member number and a date. Possible to barcode or
+
otherwise enable electronic verification (alternate
+
possibilities could be fun).
+
 
+
[Per Jake, 20080930: ] If we have any card, it will
+
probably be a blank entry card. People can decorate it
+
however they like and we (as an org) will hopefully do
+
nothing of the sort. We're not creating a flashy emblem
+
or status symbol. People can do that themselves.
+
 
+
We're very likely to use the anonaccess system by Das
+
Labor (as has been discussed many times, David and I are
+
looking at the hardware for this as I write this):
+
http://events.ccc.de/congress/2007/Fahrplan/events/2351.en.html
+
 
+
We want anonymous credentials for our door and the
+
card shouldn't identify someone as a member. We don't
+
need or want status symbols. [EndJake]
+
 
+
Consider requiring higher tier members to maintain at
+
least two or three months' paid-ahead status.
+
 
+
[Per Jake, 20080930: ] We almost certainly won't
+
require anything. People can do as they please. Their
+
contributions will be noted in public, on the wiki and
+
in the bank balance statements. [EndJake]
+
 
+
Consider releasing keys only to higher tier members.
+
This idea suggests regular hours and some set of
+
persons willing to open the place for those without
+
keys.
+
 
+
[Per Jake, 20080930: ] We're going to ensure that the
+
space is open to all members. We're not going to
+
treat some of the group like less because of their
+
financial status. A member who donates $1000 but never
+
hacks, never shows up and doesn't participate (other
+
than bike shedding) isn't actually part of the
+
community. Money isn't the most important facet of
+
community participation. [EndJake]
+
 
+
Some small group should share managing and tracking
+
this stuff.
+
 
+
[Per Jake, 20080930: ] The entire thing is currently
+
and will continue to be managed with our wiki, mailing
+
list and possibly using crabgrass in the future.
+
[EndJake]
+
 
+
 
+
Physical Supplies
+
 
+
Donations of equipment and other physical goods do
+
not count as member dues. Consider loaning or giving
+
things for NoiseBridge use.
+
 
+
[Per Jake, 20080930: ] If someone donates us a $20,000
+
laser cutter, they're probably going to get a pass on
+
their $50 membership dues. Not from any one specific
+
person but from the membership as a whole. I'm also
+
pretty sure this is going to self regulate. Some people
+
will contribute things that are of value that cannot be
+
counted in terms of dollars per month or per hour or
+
whatever time frame, etc.
+
 
+
We do not need _anything_ currently. Loaning things is
+
probably a very bad idea. If you're burdened with
+
something and Noisebridge could use it or would want it,
+
please by all means donate it. When we're a 501c3, this
+
will especially be great. With that said, we're probably
+
going to destroy or consume a lot of things. It's  
+
unrealistic to want it back and it may even create
+
personal drama when someone brings in "their" do-hickey
+
that is "misused" or otherwise not available to them on
+
their personal whims. [EndJake]
+
 
+
Supplies to be paid for as part of ongoing expenses
+
could include cleaning chemicals (to be determined)
+
along with one good quality broom, one good quality
+
mop, up to four various-sized sponges, supplies of
+
paper towels, toilet paper, toilet seat sanitary
+
covers, plumber's friend, toilet bowl brush and
+
holder, two five-gallon plastic buckets, two
+
two-gallon plastic buckets, up to four other
+
various-sized buckets or containers.
+
 
+
[Per Jake, 20080930: ] This is pretty reasonable. It
+
should go on the wiki somewhere, perhaps under a
+
supplies page for the space? [EndJake]
+
 
+
Consider drinks to be personal items. Or consider
+
purchasing a vending machine. Having an honor bar  
+
with a cash jar and the responsibility of getting
+
the cash and stocking contents seems too much
+
hassle for the possible rewards.
+
 
+
[Per Jake, 20080930: ] Heh. We're a space full of
+
hackers. If we put a vending machine up, I'm
+
personally going to hack it and give away whatever is
+
inside. If we can't trust each other to put in for
+
soda or whatever, it's probably a moot point to even
+
attempt sharing _anything_. Personally, I'm of the
+
mindset (and I'm not alone) that we're going to
+
assume some risk. Someone will drink a soda without
+
having a dollar. Someone else will put in a five
+
and not ask for change.
+
 
+
We're not solving that problem until we actually have
+
it! [EndJake]
+
 
+
 
+
Other
+
 
+
What's missing?
+

Latest revision as of 15:42, 7 February 2011

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Contents

[edit] NoiseBridge Finance Policy - Currently in Draft for Discussion form

[edit] Minimum Reserve

It seems reasonable to create a NoiseBridge bank account. It should have at least six months' expenses to pay rent, insurance, ISP, power, and for various consumable supplies. Currently we're in the burn rate evaluation phase. Once we've determined our average monthly burn rate, we'll know how much we should keep in the bank.

NoiseBridge should fund raise if our bank account balance falls below five months of our average burn rate. It seems reasonable to continue until balance exceeds seven months or more of a nice money cushion.

We may have rent parties in the same spirit as NYC Resistor. We may also simply make phone calls and ping our network. We may want to teach classes but it's counter to our spirit to charge for them (except possibly for parts cost, this TBD). If we're really feeling adventurous, we can apply for grants.

[edit] Bank Account Access

Noisebridge corporate account will probably have debit cards or checks. The board should allocate some petty cash for having in the space and will otherwise sign checks as stipulated by the membership. Anyone that's signing checks will also report financial status updates in an open manner.

The finances will be published, hopefully in real time. Transparency is key. We want to avoid major issues with money by letting it all hang out.

We'd like someone to help research a second short-term CD or other interest-bearing account as a complement to the checking account. Such an account should have a restriction to control release of funds. It seems reasonable to have funds released to the checking account only.

[edit] Member Dues

We have two official Membership rates, both with the same privilages and responsibilities. The rate you choose is up to you, and you can change it at any time.

The Regular Membership Dues are $80 per month. The Starving Hacker Membership Dues are $40 per month.

Click here for info on how to pay your Membership Dues.

If you're planning to be a member for a year, consider a simple check or cash payment in one lump sum.

[edit] Physical Supplies

Donations of equipment and other physical goods do not count as member dues. It certainly will help your reputation as being a generous member of the community but it won't pay the rent. It's possible that we'll consider exceptions as a membership. Consider donating things for NoiseBridge use, however - we do not accept things with strings attached.

We have drinks and food in the kitchen. Costs are being evaluated. It's an honors system bar. If it doesn't work, we'll change things.

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