--- Delirium delirium@hackish.org wrote:
... I like this approach---let the people giving the money decide where to spend it. We could have various funds:
- A server fund
- An advertising fund
- A developer-compensation fund
- A specific-software-feature bounty system
- An administrative expenses overhead fund (office space, travel, etc.)
- A print-version-expenses fund
Too many funds will result in donor confusion/indecision and a headache for people who have to track it all (me so far). Three funds (general, developer, and legal) along with good budgeting and telling people upfront how their money from each fund will be spent, is all we need. 10% of the general fund, for example, could be set-aside for overhead (board member meeting and office expenses). Another 10% of the general fund could be set-aside for special projects.
Having a fund for everything will make managing the finances of the foundation an inflexible nightmare. Only broad categories should be used to segregate funds. We can, however, try to find the best mix of items to have in each broad category.
This would be a lot better, IMO, than going the normal route of non-profits and having a gigantic slush fund, which is both less transparent and engenders less donator confidence, especially given that over time a larger and larger percentage of the money in such slush funds tends to be siphoned off to things less and less directly related to the actual mission of the nonprofit. ...
"Slush fund" is derogatory. Why in the world would you assume our finances would be conducted in *ANY* way other than in a transparent manor? I plan to publish information on *EVERYTHING* the foundation spends money on and have already been working in this direction with the limited amount of information Jimbo has had time to spend me.
A good budget is the only component that has not been started on yet (just some rough outlines on what it needs to consist of - no real specifics). I am a bit insulted you would assume anything less from the board members and for the work I've already done in this direction (and plan to continue helping with and expanding on if the board decides to create a financial officer position and have me fill it).
-- Daniel Mayer (aka mav)
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