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posted by mrcoolbp on Wednesday October 21 2015, @06:29PM   Printer-friendly
from the moar-monies dept.

Thanks to all of our wonderful supporters, we have exceeded our financial goal for this period! This period covers the second half of 2015, so we still have a few months before this period is over. Up until now, the only thing we have budgeted for was immediate and expected expenses (hosting, tax preparation, domain registrations, etc.). While we have been luckily staying ahead of these projected expenses by a small margin (about 10% in the first half of the year), it appears we have an opportunity to exceed the goal set for this period. Subsequently, we had the idea of a stretch goal. There are quite a few things that we could use this money for (not for more more servers.)

One of the biggest "expenses" that we rarely discuss is the initial capital outlay that went into the site's startup costs — $3,417 coming out of the personal accounts of our staff. Of course, we aim to reimburse these sizable contributions. Though they have noted that they wished us to first focus on making the site self-sustaining, it appears we are already doing that.

Another possible use for "extra" funds would be to have some money on hand for lawyers. We often talk about how any kind of lawsuit or legal proceedings would be a huge financial burden on us. We do try to avoid any case that may invite that; for example, we are registered for DMCA requests, we take steps so that we are not breaking laws here in the USA (etc.). However, even if we are following the laws/guidelines exactly, that does not rule out the possibility of a lawsuit, so it would be ideal that we had some funds in case such a situation ever arises.

Further down the road we would love to be able to compensate some of our dedicated — and so far entirely volunteer staff — many of whom have been working tirelessly on this site since it went live; taking time away from their lives and families so that we can have this community. This is a "for the future" thing. It would have its own quirks and issues that we would have to figure out. It's a nice-to-have-problem in case we ever do have the extra capital. Surely, having a few paid employees, at least, would help ensure the long-term viability of the site, as well as open up the opportunity to really improve and expand on what we are trying to do here.

For this stretch goal we are aiming for an additional $2,000. This should cover any unexpected costs that come up in the way of taxes for last year (yes, we are still working to finish up the filing for last year) and give us a buffer that we could just leave in the bank for now. If things continue financially in this direction (or even grow), then we can start to use this money to begin to pay back the the startup costs for the site, and keep a few dollars on hand for things that come up in the future.

I also wanted to mention that we are working on getting direct credit card payments possible through Stripe for those that prefer not to use PayPal. Though we don't have a timeline yet, it is in the pipeline.

Once again, I am personally astounded by the support that we have seen since we went live in February of 2014: over a quarter-million comments as well as all the submissions, volunteers, and subscribers — the feeling of being a part of this is hard to describe. So thank you all for being you.

-mrcoolbp

 
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  • (Score: 5, Insightful) by DonkeyChan on Wednesday October 21 2015, @09:55PM

    by DonkeyChan (5551) on Wednesday October 21 2015, @09:55PM (#252938)

    I'm actually on board in reimbursing the guys who helped with initial capital to get this site up and running.
    Maybe something along the lines of this:
    Draw your stretch funding out to cover + one year of overhead. This could be tapped for legal or other contingencies.
    50% of anything raised over that in the future can go right into the pockets of the folks who helped with the initial funding until they've been paid back.
    Or just in general, any extra funds can be split up 50% going towards a contingency fund and 50% to reimburse the founding capital.

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  • (Score: 2) by PartTimeZombie on Wednesday October 21 2015, @10:06PM

    by PartTimeZombie (4827) on Wednesday October 21 2015, @10:06PM (#252945)

    I like this approach. Having some money in the bank for a rainy day is always a good thing, but the staff need to be paid, and reimbursed for their outlay.

  • (Score: 2) by mrcoolbp on Wednesday October 21 2015, @10:37PM

    by mrcoolbp (68) <mrcoolbp@soylentnews.org> on Wednesday October 21 2015, @10:37PM (#252962) Homepage

    Cool, I like this train of though and I'll work it into what ever plan we end up proposing. Thanks.

    --
    (Score:1^½, Radical)
  • (Score: 0) by Anonymous Coward on Wednesday October 21 2015, @10:55PM

    by Anonymous Coward on Wednesday October 21 2015, @10:55PM (#252968)

    Reimbursing is a good idea and if something were to go down then they may be willing to chip-in again if absolutely necessary. Now that the community is larger it would be easier for unexpected costs to be spread out instead of being concentrated with the staff.

  • (Score: 2) by fleg on Thursday October 22 2015, @02:20AM

    by fleg (128) Subscriber Badge on Thursday October 22 2015, @02:20AM (#253051)

    i like this.