14 Jan
2018
14 Jan
'18
1:22 p.m.
Following on from the finances discussion during last week's meeting...
On manual review of our Stripe account, I see 36 monthly recurring dues
subscriptions through sudo-humans for a total of $1,290 per month.
There were a handful of accounts with failing transactions. (This tends
to happen when a card expires or a number changes.) However, those
accounts probably add up to <$100 per month altogether.
If we expect, say, $1,200 per month actually paid, and our sole bill is
to Omni, for $2,000, we are running an $800 shortfall. $800 over 30
people is $27 per. $800 over 15 people is $54 per.
I've just updated my plan accordingly.
As I recall, one of the big open questions from the meeting was whether
Sudo pays any other recurring bills. We know we have insurance, and use
utilities. It wasn't clear whether those are billed through Omni, and
covered by the $2,000 per month, or not.
15 Jan
15 Jan
11:49 a.m.
Replies inline below:
On Sun, Jan 14, 2018 at 1:22 PM, Kyle Mitchell <kyle(a)kemitchell.com> wrote:
Following on from the finances discussion during last
week's meeting...
On manual review of our Stripe account, I see 36 monthly recurring dues
subscriptions through sudo-humans for a total of $1,290 per month.
And yet there are also ~100 accounts that are not listed as paying
anything. I've sent an email to those members asking them to set up
recurring donations. Some of them pay via cash or PayPal, but only a
handful.
There were a handful of accounts with failing
transactions. (This tends
to happen when a card expires or a number changes.) However, those
accounts probably add up to <$100 per month altogether.
This is good info, thank you for doing these calculations! However, if all
of the accounts I just emailed contributed even $10/month ($30 is
recommended), then we'd be solid and even putting $200 each month into
savings for future space improvements, tools and equipment. If they
contributed $30/month, we'd generate more than $2K monthly and could build
a second floor by the end of the year!
If we expect, say, $1,200 per month actually paid, and
our sole bill is
to Omni, for $2,000, we are running an $800 shortfall. $800 over 30
people is $27 per. $800 over 15 people is $54 per.
We technically have just three bills - Omni ($2000/mo), Digital Ocean
($15/mo) and Gandi.net (?/yr)
I've just updated my plan accordingly.
Rad! Thank you! and evidently my card was bouncing, so i've updated my
membership payments as well.
As I recall, one of the big open questions from the meeting was whether
Sudo pays any other recurring bills. We know we have
insurance, and use
utilities. It wasn't clear whether those are billed through Omni, and
covered by the $2,000 per month, or not.
Since becoming a fiscally-sponsored project of its former self, Sudo's
activities are covered by Omni's insurance policies, which include property
and directors&officers insurance as well as general liability.
We used to pay $446/mo in utilities to Omni, but plead poverty in tandem
with CCL early last year and reduced our monthly payment to $2000. Omni is
by no means financially stable as of yet, and I'm still doing the
end-of-month scramble dance every month to ensure we can make our mortgage
payments. I'm hoping Omni can actually generate the beginnings of a reserve
fund by the end of this year. Here's Omni's budget spreadsheet
<https://docs.google.com/spreadsheets/d/1rvkMc5lmd8PovoViNLdvlrv0tSyvrH7iB0SmGqaFec8/edit?usp=sharing>
for those who are curious, or if that's overwhelming, a basic overview is
here <https://omnicommons.org/wiki/Finances>.
12:01 p.m.
On 2018-01-15 11:01, Jenny Ryan wrote:
We technically have just three bills - Omni
($2000/mo), Digital Ocean
($15/mo) and Gandi.net (?/yr)
Who pays Gandi.net? We should find out what the number is,
or at least cap it. For example, "no more than $10 a month".
We want a specific number. Not necessarily a perfectly
correct number. But a number that lets us say: "If we bring in
$X per month, we are meeting all of our financial obligations,
and can put that out of mind."
We used to pay $446/mo in utilities to Omni, but plead
poverty in tandem
with CCL early last year and reduced our monthly payment to $2000. Omni is
by no means financially stable as of yet, and I'm still doing the
end-of-month scramble dance every month to ensure we can make our mortgage
payments.
What would Sudo Room pay to cover its actual share of costs,
reliably, without any financial assistance from Omni?
$2,500 per month?
That should be our target. Nothing less.
12:19 p.m.
On Mon, Jan 15, 2018 at 12:01 PM, Kyle Mitchell <kyle(a)kemitchell.com> wrote:
On 2018-01-15 11:01, Jenny Ryan wrote:
I think it's something like $15/yr, but we only recently gained control of
our own domain and i don't have the password to that account. I'm setting
up a passpack now and will signal text the login info to a few folks. Plz
add any passwords you've stored for sudo!
We technically have just three bills - Omni
($2000/mo), Digital Ocean
($15/mo) and Gandi.net (?/yr)
Who pays Gandi.net? We should find out what the number is,
or at least cap it. For example, "no more than $10 a month".
We want a specific number. Not necessarily a
perfectly
correct number. But a number that lets us say: "If we bring in
$X per month, we are meeting all of our financial obligations,
and can put that out of mind."
$2500 is a good monthly number, but we should also do some fundraising
activities (crowdfunding, parties, fixit clinic, etc) to build up an
operating reserve fund (3 months expenses, or $7,500) and a capital reserve
fund (equivalent to operating, for improvements and necessary building
maintenance&repairs) = $15,000.
We used to pay $446/mo in utilities to Omni, but
plead poverty in tandem
with CCL early last year and reduced our monthly payment to $2000. Omni
is
by no means financially stable as of yet, and
I'm still doing the
end-of-month scramble dance every month to ensure we can make our
mortgage
payments.
What would Sudo Room pay to cover its actual share of costs,
reliably, without any financial assistance from Omni?
$2,500 per month?
That should be our target. Nothing less.
18 Jan
18 Jan
2:34 p.m.
Update -
Awesome response to the callout!
We're now up to *$1,640/month* on sudo-humans (up from $1,290 = $350
increase).
Factoring in recurring PayPal payments ($215), that's $1,855/mo!
We're actually almost there when factoring in the ~$40 in donations
Charley's been recording from the weekly Wednesday parties.
First goal: *$2,025* (base expenses), $170 more or ~5-6 new members paying
recommended dues of $30-40/month
Second goal: *$2,500* (actual costs factoring in Omni covering utilities) -
an additional $475/month or 12-16 new members paying $30-40/mo
<3
Jenny
Help open a professional kitchen at the Omni Commons in Oakland!
https://omnicommons.org/kitchen
`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`
"Technology is the campfire around which we tell our stories."
-Laurie Anderson
"Storytelling reveals meaning without committing the error of defining it."
-Hannah Arendt
"To define is to kill. To suggest is to create."
-Stéphane Mallarmé
"Anything done for the first time unleashes a demon."
--Dave Sim, "Cerebus the Aardvark"
~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`~`
On Mon, Jan 15, 2018 at 12:19 PM, Jenny Ryan <tunabananas(a)gmail.com> wrote:
On Mon, Jan 15, 2018 at 12:01 PM, Kyle Mitchell
<kyle(a)kemitchell.com>
wrote:
On 2018-01-15 11:01, Jenny Ryan wrote:
I think it's something like $15/yr, but we only recently gained control of
our own domain and i don't have the password to that account. I'm setting
up a passpack now and will signal text the login info to a few folks. Plz
add any passwords you've stored for sudo!
We technically have just three bills - Omni
($2000/mo), Digital Ocean
($15/mo) and Gandi.net (?/yr)
Who pays Gandi.net? We should find out what the number is,
or at least cap it. For example, "no more than $10 a month".
We want a specific number. Not necessarily a
perfectly
correct number. But a number that lets us say: "If we bring in
$X per month, we are meeting all of our financial obligations,
and can put that out of mind."
$2500 is a good monthly number, but we should also do some fundraising
activities (crowdfunding, parties, fixit clinic, etc) to build up an
operating reserve fund (3 months expenses, or $7,500) and a capital reserve
fund (equivalent to operating, for improvements and necessary building
maintenance&repairs) = $15,000.
We used to pay $446/mo in utilities to Omni, but
plead poverty in tandem
with CCL early last year and reduced our monthly payment to $2000. Omni
is
by no means financially stable as of yet, and
I'm still doing the
end-of-month scramble dance every month to ensure we can make our
mortgage
payments.
What would Sudo Room pay to cover its actual share of costs,
reliably, without any financial assistance from Omni?
$2,500 per month?
That should be our target. Nothing less.
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days inactive
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days old
5 comments
2 participants
participants (2)
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Jenny Ryan -
Kyle Mitchell