FinancialPolicy

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NoiseBridge Finance Policy - Currently in Draft for Discussion form

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. If we're really feeling adventurous, we can apply for grants.

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 should 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

Pay what you {can,want,may,are able} is the rule of the day. If you're making $100,000 a year, please consider that it's lame to pay the absolute minimum of ~$60-75. If you're a starving and broke member, please do not stress about paying insane amounts of money. Money is not the most important thing to our group but we will of course require it to survive. It doesn't really matter what method (egold, paypal, google checkout, cash, sack of quarters, credit card, etc - ) you use to pay your membership fees. However, please be mindful of fees or major time sinks! If you pay via paypal, we'll lose some percentage of the incoming funds. If you bring in a sack of quarters, we're going to be up all night counting. If you're planning to be a member for a year, consider a simple check or cash payment in one lump sum.

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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