Difference between revisions of "FinancialPolicy"

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NoiseBridge Finance Policy (and related considerations)
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==NoiseBridge Finance Policy - Currently in Draft for Discussion form==
Draft for Discussion  
 
  
 +
===Minimum Reserve===
  
Minimum Reserve
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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
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===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 22:42, 7 February 2011

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

Minimum Reserve[edit]

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.

Bank Account Access[edit]

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.

Member Dues[edit]

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.

Physical Supplies[edit]

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.